Post-Epidemic National and Institutional Energy Strategies

Abstract

In this study, the latest developments in the energy world are examined, the strategic plans carried out by the major energy producing countries (especially Russia, the United States, China and Europe) and the strategies for the transition to renewable energy focused on large companies producing in the world oil market are summarized. From a working point of view, the conversion to renewable energy depends on the measures taken in the energy sector and its significant financial resources. This financial resource is under the umbrella of large oil companies, whether private sector international oil companies (IOCs) or state-controlled national oil companies (NOCs). On the state side, it is particularly important to maintain economic growth with geopolitical interests, self-sufficiency and energy diversity. Companies, on the other hand, stay out of politics and act under the influence of factors such as the financial situation, the ability to coordinate the measures taken by the energy sector. Governments face a range of social demands and pressure from sectors that oppose it in the name of the energy transition. Moreover, the emergence of new economic segments (clean electricity, solar energy, etc.) poses great challenges for foreign relations and public policy formulation. Therefore, there will be compromises between renewable energies and non-renewable energies (Fossil fuels), which will require strategic interventions on behalf of CPIs (climate policy initiative) and NOCs. In general, two types of intervention stand out; increased investment in renewables or efforts to delay investment expansion of renewable resources relative to oil. From a more structured perspective, major energy companies prefer to initiate the energy transition gradually to maintain their long-term position in the energy industry while seeking to strengthen the role of the oil and gas (P&G) sector. In this way, the strategy in the global economy protects its spheres of influence. The importance of renewable energies today and in the future becomes clear as this “energy dilemma” facing power generation companies has to consider the following long-term perspectives.