Oil-producing Countries Research Articles

Non-Oil Revenue and the Impact on the Economic Development of Nigeria

Nigeria as one of the major oil-producing countries in the world has been diversifying into more non-oil revenue while more attention is paid to tax revenue as it has the potential of taking the country to the Promised Land. As a result, the study sought to examine Non-Oil Revenue and its impact on the Economic Development of Nigeria, leveraging on tax revenue for the period 1994–2023. The objectives of the study examined the effect of corporate income tax, capital gain tax, value-added tax, customs and excise duties on economic growth. Tertiary Education Tax, Stamp duty, and Other Levies were used as controlled variables. Data were sourced from the Central Bank of Nigeria (CBN) Statistical Bulletin and Federal Inland Revenue (FIRS) Statistical Reports. ARDL Regression Analysis was applied to test the hypotheses. The findings revealed that the coefficients of variation for the lag values showed that the RGDP was positively impacted by TDT and CED, while negatively impacted by CIT, CGT, VAT, and SD. The ARDL model's R2 and Adjusted R2 statistics together explained almost 69% of the variation in RGDP, according to the adjusted R2 of 0.518719. This implies that a significant portion of volatility is still unaccounted for despite the model's poor predictive power. The study concluded that the aggregate tax revenue does not show the hope of taking the country to the promised land, as only two (CED and TDT) showed a positive relationship with the economic growth of the country. Thus, it recommended that the Nigerian government need to pay more attention to tax income since it can promote the necessary growth in the nation.

THE EFFECTS OF NaClO2 AND H2O2 AS BLEACHING AGENTS IN THE SYNTHESIS OF CELLULOSE ACETATE FROM OIL PALM EMPTY FRUIT BUNCH

Indonesia is one of the largest palm oil-producing countries in the world. The results of palm oil processing produce a lot of waste, such as oil palm empty fruit bunches (OPEFB). The utilization of OPEFB in Indonesia is minimal, so it needs further development. OPEFB has a very high α-cellulose content, so that it can be used as raw material for manufacturing cellulose acetate. Making cellulose acetate from OPEFB consists of three main steps: delignification, bleaching, and acetylation. This study aims to compare the effects of the concentration of NaClO2 or H2O2 in the bleaching process on the physical properties of cellulose acetate from OPEFB. In the delignification process, 100 mesh-sized OPEFB powder is reacted with 5% sodium hydroxide (NaOH) at 100oC for 2 hours. The residue from deliglinfication was washed using distilled water until pH 7, filtered using filter paper, and dried using an oven at 50oC. The next step is the bleaching process using NaClO2 or H2O2 with concentration variations (1%, 2%, 3%, 4% and 5%). The bleaching process was carried out at 90oC for 1.5 hours. After filtration, the bleached residue was washed using distilled water until pH 7, filtered using filter paper, and dried using an oven at 50oC. After the bleaching process, α-cellulose powder was produced. The next step is acetylation, containing three main steps. The first step is the reaction between α-cellulose powder with acetic acid (CH3COOH) and sulfuric acid (H2SO4) at 40oC for 1.5 hours to perform activation. The second step is the addition of anhydrous cellulose in a ratio of 1:10 and mixed at 40oC for 1.5 hours. The third step is the addition of distilled water, acetic acid, and sodium acetate (CH3COONa) at 40oC for 5 minutes. Then, followed by filtration, the residue was washed using distilled water and methanol until pH 7 and dried at 50oC. The best result is using NaClO2 as a bleaching agent with a concentration of 2%, resulting in cellulose acetate yielding 98.85%, density of 1.954 g/mL, and L value of 91.897 for colorimetric test results. The density and L-value were close to commercial cellulose acetate (Sigma Aldrich). From the results of FTIR analysis, it can be concluded that the acetylation of α-cellulose into cellulose acetate has been successful, as evidenced by the formation of carbonyl groups (C=O).

Achieving carbon neutrality in an emerging oil-producing country: Renewable energy transition and international trade flows in Ghana

Over the past decade, climate variabilities have emerged as shaping the dynamics of international trade. The adverse externalities posed by climate change require a corresponding improvement in the production of food, trade and the adoption of abundant renewable energy resources. Our study focused on evaluating the impact of renewable energy transition on international trade flows in Ghana. We employed the dynamics ARDL simulation model to analyse our results using data from various institutions. We found that energy transition using both low carbon energy and renewable energy in electricity generation by 1% and 5% significantly increases the balance of trade to the 4th year after which energy transition decreases the balance of trade to the 9th year. After the 9th year, energy transition by both percentages increases the trade balance of Ghana. We observe that the energy transition by 5% has a higher impact than the energy transition by 1%. Additionally, it is observed that using the share of renewable energy in electricity generation has a decreasing rate relative to the first four years. Drafting renewable energy plans such as allocation of funds, supportive policy frameworks and incentives such as green financing, subsidies, and tax incentives can enhance and develop renewable energy infrastructure to increase renewable energy efficiency and reliability for international trade.

Evaluating the market positions of soybean oil-producing countries in the world market

Abstract Soybeans have an essential position as the main legume crop in the world food system. This research focuses on four high-producer countries of soybean, i.e., India, the Netherlands, Brazil, and the USA. The subject of soybeans as a vegetable oil includes soybean seeds, soybean oil, soybean oil cake, and refined soybeans. This research aims to identify opportunities for the industrial development of soybeans and their derivatives from socio-economic aspects in the world. The analytical method used in this soybean research is the BCG matrix. The data collection used is secondary data from several countries that export soybeans from 2020 to 2021, as well as a literature review of several kinds of literature. Soybean exporters in 2021 are in first place, namely Brazil (USD 39 billion), the United States (USD 27.8 billion) is in second place, Paraguay (USD 2.99 billion) is in third place, The Netherlands (USD 462 million) is in 7th place, and India (USD 22.9 million) is in 33rd place. The analysis results from soybean research show that Argentina took the cash cow position in the BCG matrix and has excellent potential for development in the soybean industry and its derivative products to meet market trends worldwide.

The Russia-Ukraine conflict, soaring international energy prices, and implications for global economic policies

This study examines the economic impact of soaring international energy prices during the Russia-Ukraine conflict from February 23, 2022, to May 31, 2022. Notably, by applying a CGE model, this study offers insights into energy policies at both macroeconomic and industrial levels, emphasizing the model's utility in analyzing complex economic interactions under geopolitical stress. Findings indicate that: (1) Russia, a critical energy-producing country, faced severe economic setbacks due to sanctions, with its GDP contracting by 5.5 %, household income decreasing by 4 %, and consumer spending dropping by 3.5 %. This was accompanied by a significant reduction in domestic investment by 6 %, a decline in output by 5 %, and a decrease in societal welfare indicators. (2) Other energy-producing countries or regions, such as the Middle Eastern oil-producing countries, Australia, Canada, Mexico, and Southeast Asia, experienced economic benefits from the global energy market's “crowding-out effect.” These regions saw an increase in GDP ranging from 2 % to 4.5 %, output growth by 3 %–6 %, and household income and consumption improvements by approximately 3 %–5 %. However, these benefits were tempered by a 1 %–2.5 % decline in domestic investment due to rising local energy costs. (3) Developed and developing regions, suffered adverse impacts, including the US, UK, EU, Japan, China, South Asia, Middle Eastern non-oil-producing countries, and Africa. These regions reported a decrease in GDP by 0.5 %–3 %, a decline in household income by 2 %–4 %, and lower consumption rates by 1.5 %–3.5 %. The economic strain was further exacerbated by an inflation increase of up to 2 % across these economies. This research offers valuable insights for governments and policymakers globally to address the challenges posed by the Ukraine crisis-induced energy crisis, underscoring the need for strategic energy policy adjustments and economic resilience planning.

Asymmetric Impact of Economic, And Structural Factors on the Development of the Non-Oil Export Sector in GCC Economies 1992-2022: Structural Reform Priorities to Sustainable Economic Growth

The current study empirically investigates to explore the links between economic and structural variables of non-oil export industry development in GCC economies. The research spans the years 1992 to 2022. It is understandable to wonder why some oil-producing countries have been able to diversify and build their economy while others have not. We postulate that disparities in the diversification and development patterns of oil producers are related to differences in their economic and structural characteristics. Divergence in diversification and development trends may result from such discrepancies. We measure the role of economic and structural elements to test this idea. The findings indicate that economic and structural factors play a critical role in the process of diversification and development. Countries have the higher-quality infrastructure, in particular. The findings imply that GCC authorities should improve robust macroeconomic conditions to support their non-oil export sector and boost institutional quality drivers to accelerate non-oil export sector development in their nations. The empirical findings can assist GCC policymakers in better designing the economic policies required to accomplish the GCC countries' comprehensive and sustainable economic development. Asymmetric mechanisms in non-oil export responses to economic and structural factor changes are likely to differ across economic sectors in GCC countries. A sectoral examination of this link could provide further information and supplement our analysis. New capital and infrastructure must be accommodated to support domestic and export manufacturing.

Do OPEC+ policies help predict the oil price: A novel news-based predictor

The OPEC+, composed of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil-producing countries, exerts considerable influence over the global crude oil market. However, existing literature lacks a comprehensive application of this factor in oil price forecasting, primarily due to the complexity of measuring such policy evolutions. To address this research gap, this study develops a news-based OPEC+ policy index based on text mining methods for comprehensive analysis and forecasting of the oil price. First, by crawling and mining news headlines related to OPEC+ production decisions, a dynamic and high-frequency (weekly) OPEC+ policy index is established. Second, the linear and nonlinear relationship between the proposed OPEC+ policy index and the WTI crude oil futures price is thoroughly examined, assessing the potential predictive power of the index in explaining the movements of the crude oil price. Third, the forecasting efficacy of the constructed index on the oil price is rigorously evaluated across eight econometric and machine learning models. Key findings include: (1) The proposed weekly OPEC+ policy index demonstrates strong concordance with OPEC+ production change decisions, exhibiting notable peaks and troughs corresponding to OPEC+ Ministerial Meetings. (2) The relationship analysis demonstrates a strong linear and nonlinear association between the proposed OPEC+ policy index and the crude oil price. (3) For oil price prediction, models incorporating our proposed OPEC+ policy index demonstrate superior performance compared to models without this index. In particular, the index exhibits a more significant predictive effect within three-week forecasting horizons and performs exceptionally well during periods of pandemic and the Russia-Ukraine conflict. In addition, the OPEC+ policy index also exhibits a significant predictive effect on the daily crude oil price and natural gas price, further confirming the robust and powerful forecasting capability of this index within the energy system.

Introduction of a carbon footprint assessment in the oil and gas facility life extension decision-making process

In large oil and gas producing countries, extraction and processing activities, including upstream activities, can represent a large share of domestic emissions. As oil fields approach their expected service life and reach depletion, energy use and GHG emissions increase per unit of produced oil, shifting operations away from their optimal point. Thus, it is paramount that oil field life extension decisions account for energy use and GHG emissions. However, many facilities are having their service life extended without considering this energy inefficiency and previous life extension decision making studies have neglected GHG emissions. Addressing this issue, this paper proposes the inclusion of a carbon footprint assessment within the evaluation of oil and gas offshore production facility life extension. The carbon footprint assessment adds an environmental lens to the evaluation of ageing, formerly evaluated according to material degradation, obsolescence and organizational issues. An eleven-stage framework is proposed to systematize the ageing related carbon footprint assessment and support life extension decision-making: (1) Objective definition, (2) Scope definition, (3) Field conditions description, (4) Scope breakdown into manageable portions, (5) Detailed data collection for each process and subsystem, (6) Input and output definition for each process and subsystem, (7) Process modelling, (8) Methodology definition for energy demand and inefficiency estimate, (9) Monitoring indicator definition, (10) Performance evaluation, and (11) Interpretation of results. The proposed framework is applied to a hypothetical case study, developed with data from a typical oil and gas offshore production platform operated in Brazil. Two LE improvement strategies were simulated, i.e. reducing the number of gas turbines, and increasing the export of natural gas. Both alter the modus operandi of the compression system and do not require additional equipment installation. These strategies resulted in a combined reduction of 922,000 tCO2 during the extended 10-year operation. This outcome demonstrates that by applying the framework opportunities for reducing energy use and GHG emissions during life extension can be identified and quantified, facilitating life extension decision-making.

The Integration of Renewable Energy into a Fossil Fuel Power Generation System in Oil-Producing Countries: A Case Study of an Integrated Solar Combined Cycle at the Sarir Power Plant

Libya is facing a serious challenge in its sustainable development because of its complete dependence on traditional fuels in meeting its growing energy demand. On the other hand, more intensive energy utilization accommodating multiple energy resources, including renewables, has gained considerable attention. This article is motivated by the obvious need for research on this topic due to the shortage of applications concerning the prospects of the hybridization of energy systems for electric power generation in Libya. The 283 MW single-cycle gas turbine operating at the Sarir power plant located in the Libyan desert is considered a case study for a proposed Integrated Solar Combined Cycle (ISCC) system. By utilizing the common infrastructure of a gas-fired power plant and concentrating solar power (CSP) technology, a triple hybrid system is modeled using the EES programming tool. The triple hybrid system consists of (i) a closed Brayton cycle (BC), (ii) a Rankine cycle (RC), which uses heat derived from a parabolic collector field in addition to the waste heat of the BC, and (iii) an organic Rankine cycle (ORC), which is involved in recovering waste heat from the RC. A thermodynamic analysis of the developed triple combined power plant shows that the global power output ranges between 416 MW (in December) and a maximum of 452.9 MW, which was obtained in July. The highest overall system efficiency of 44.3% was achieved in December at a pressure ratio of 12 and 20% of steam fraction in the RC. The monthly capital investment cost for the ISCC facility varies between 52.59 USD/MWh and 58.19 USD/MWh. From an environmental perspective, the ISCC facility can achieve a carbon footprint of up to 319 kg/MWh on a monthly basis compared to 589 kg/MWh for the base BC plant, which represents a reduction of up to 46%. This study could stimulate decision makers to adopt ISCC power plants in Libya and in other developing oil-producing countries.

The 1973 Oil Crisis: a Look after half a Century

The article examines the prerequisites and consequences of the global oil crisis of 1973. It analyzes not only the political reasons that prompted the Arab oil exporting countries to use the “oil weapon” (the unresolved Middle East conflict and the Palestinian problem), but also the crisis phenomena in the Western economy. Not only Arab countries, but also powerful oil companies, backed by Western countries, especially the United States, were interested in change. For the West, the oil crisis caused difficulties and problems in the short term, but in the long term it turned out to be a catalyst that accelerated structural and technological changes in the Western economy and in the global financial system. The oil crisis allowed the oil-producing countries of the Arab East to sharply increase the level of state income, which opened up opportunities for accelerated socio-economic development, and also increased the authority of these countries and OPEC in international relations.

INFLUENCE OF SKIN FACTOR VALUES ON WELL PRODUCTIVITY

For several decades, the problem of increasing oil recovery from reservoirs has been one of the most significant in oil-producing countries of the world. Most oil fields, usually represented by heterogeneous reservoirs, are developed using a waterflooding system. Experience in the development of water-oil zones shows that oil extraction from deposits underlain by bottom water is characterized by a relatively low oil recovery factor. When monitoring the development of oil and gas fields, various research methods are used. One of the main research methods is hydrodynamic testing of wells (HDT). The article discusses the influence of the skin factor on well productivity. Keywords: skin factor, productivity coefficient, mobility, water cut.

Impact of oil price, economic globalization, and inflation on economic output: Evidence from Latin American oil-producing countries using the quantile-on-quantile approach

This research examines the impact of oil prices, economic globalization, and inflation on the economic output in oil-producing countries in Latin America. We employ advanced time series techniques to achieve precision in findings and reliability of policy inferences. We use cointegration techniques with and without structural breaks because oil prices are highly volatile, and the economies analyzed are unstable in the face of political and social changes. Additionally, we performed a sensitivity analysis using standard quantile and the newly developed quantile-on-quantile regressions to measure the impacts of the covariates on real per capita output. Finally, we use causality Fourier techniques to identify the direction of causal relationships between the series. We found that the oil price, economic globalization, inflation, and output have a long-term equilibrium relationship in the presence of structural breaks. Likewise, quantile models show that the impacts of inflation, economic globalization, and oil prices on economic output are extensively non-linear across the quantile distribution. We found a negative connection between inflation and economic output in the surveyed territories. We propose that those responsible for energy policy in the countries studied should rethink crude oil policies to maximize the benefits of oil exploitation under stagnant globalization and growing inflation.

Comparative Analysis of Leadership and Economic Impact of the Palm Oil Industry in Indonesia

Palm oil is one of the biggest industries that contributed to Indonesia’s economy. In this context, this article aims to investigate a comparison of the government policies in Indonesia’s palm oil under the Jokowi leadership and the previous presidents and how this industry contributed to national economic growth. We reveal that every president has different programs to develop the palm oil industry. Soeharto Perusahaan Inti Rakyat (PIR) or Nucleus Estate and Smallholders (NES) program has greatly affected the extent of Indonesia’s large plantations today. Meanwhile, during Megawati’s presidency, there were not many changes in terms of policies or regulations. On the other side, under Susilo Bambang Yudhoyono’s presidency, Indonesia’s palm oil industry experienced new innovations in terms of palm oil policy. The biodiesel program that was introduced in 2006 made Indonesia’s palm oil industry move to the next stage. This policy aims to reduce Indonesia's dependence on fossil fuels. Furthermore, this program became the forerunner of the biodiesel program which is currently being accelerated by President Jokowi. We argue that Jokowi’s programs such as the Biodiesel Mandatory Program (B30, etc.) through Pertamina, Peremajaan Sawit Rakyat, Moratorium on land clearing permits, and cooperation through Council of Palm Oil Producing Countries (CPOPC) been the right step to stimulating the national economy.

Carbon collusion: Cooperation, competition, and climate obstruction in the global oil and gas extraction network

While publicly-available datasets often document how much fossil fuel is extracted within oil-producing countries, they do not generally indicate who is responsible. To address this gap, we constructed the Global Oil and Gas Extraction Network, a dataset containing the extraction sites of the 26 largest oil and gas companies, and the quantities extracted annually from 2014 to 2018, accounting for 67% of total production. Using this dataset, we present a first-of-its-kind network analysis of global oil and gas extraction. We find fifty-eight percent of operations involved joint ownership across companies, demonstrating growing interdependence after industry-wide losses in 2016. Countries in which National Oil Companies (NOCs) were active were less likely to host Hybrid state-investor companies, and even less likely to host Investor-Owned Companies (IOCs), while certain Hybrids and IOCs tended to operate in the same countries; both trends became more pronounced between 2014 and 2018. Reflecting colonial legacies, the seven Big Oil companies, headquartered in either the US or Europe, extracted oil and gas from the most countries. These findings reveal a complex global network of strategically aligned actors, indicative of tacit and explicit transnational industry-state collusion to obstruct climate policies. These findings additionally underscore the need for comprehensive data to support a managed fossil fuel phaseout.

Recent Developments concerning the Rights of Migrant Workers and of Women: a Survey of the Gulf Cooperation Council (GCC) States Oman, Saudi Arabia and the UAE

Abstract The survey of the Gulf Cooperation Council states reviews some key legislative and executive measures of particularly the governments of Oman, Saudi Arabia and the United Arab Emirates (UAE) in the year 2023 (largely between December 2022–2023). It focuses mainly on the rights of the migrant workers. Further, and in less detail, it also notes some of the developments pertinent to the rights of women. More generally, these rights are less relevant to women who are not national citizens. The GCC comprises six member countries in the Arab-Gulf region: Bahrain, Oman, Qatar, the UAE (it is a federal state comprising seven emirates namely, Abu Dhabi, Sharjah, Dubai, Umm Al Quwain, Ras Al Khaimah and Fujairah), Kuwait, and Saudi Arabia. These oil-producing countries have a significant proportion of foreign workforce in the population. At 88.1 per cent, the UAE has the highest proportion of migrants in its population among the GCC members (UN DESA, 2020). Foreign workers work mostly in the private sector and are also residents in the host countries. Therefore, a broader spectrum of governments’ measures relating to the issues like labour, entry and residence, and ownership of property or business touch the lives of the foreign/migrant workers or expatriates in the Gulf country. Governments’ initiatives targeting domestic workers are relevant also for women because they comprise the majority in this group. Apparently, the most prolific among the GCC countries in governmental initiatives during the surveyed period is the UAE, both concerning migrant workers and women. The Gulf states appear to have showed more responsiveness to their public image as a few important global events have happened in the region in the past year or discussion was in progress. For instance, the FIFA World Cup 2022 was hosted in Doha, Qatar from 20 November to 18 December 2022. The 28th United Nations Climate Change conference or COP28 was hosted in Dubai, the UAE from 30 November to 12 December 2023. Announced at the conclusion of the competitive bidding process in November 2023, Saudi Arabia has won the bid to host the 2030 World Expo in Riyadh from October 2030 to March 2031.

Economic Fundamentals and Real Exchange Rate in African Oil Producing Countries: Evidence from Asymmetric Cointegration

The role of exchange rates is very important in the international market and the variability of exchange rates both in the case of appreciation or depreciation is directly connected with the economic performance of a country. Exchange rate variations in oil-producing countries in Africa have been too high resulting in volatilities due to domestic and foreign shocks. High volatility of exchange rate may translate into reduction of trade flows, foreign direct investment, and instability in both interest rates and inflation rates. Several studies on the relationship between economic fundamentals and exchange rates focused more on Africa or country-specific with limited focus on African oil-producing countries using asymmetric cointegration. Therefore, this study examines the relationship between some economic fundamentals and real exchange rates in oil-producing countries in Africa. The dynamics panel non-linear autoregressive distributed lag and linear autoregressive distributed lag were used to investigate the relationship between economic fundamentals and real exchange rate (RER). The NARDL result shows evidence that there exists both short and long-run asymmetric relationship between economic fundamentals and RER. The study recommended that policymakers in these countries pay more attention to their macroeconomic policies to reduce the production and transaction costs of foreign direct investment (FDI).

Review of the performance and energy requirements of metals modified TiO2 materials based photocatalysis for phenolic compounds degradation: A case of agro-industrial effluent

The waste effluent generated by agro-industries and oil refineries has a high level of phenolic compounds (PhCs) even after the secondary treatment, and is considered one of the major polluters of rivers and streams across the edible oil and petroleum producing countries. Photocatalytic technology based on TiO2 or modified TiO2 materials has proven to be both technically and economically feasible for the treatment of such effluents. It has a few significant, enduring problems that must be resolved first, such as inefficient use of visible light by TiO2, its broad bandgap, and its rapid electron-hole pair recombination. TiO2 photocatalyst-based photocatalysis has several advantages, such as the ability to fully mineralize organic pollutants into byproducts that are environmentally friendly, high reaction rates, operation at room temperature and pressure, low cost, and chemical and thermal stability of TiO2. However, to transfer this technology to industrial scale require a thorough analysis of its performance and energy requirements especially, when applied for photodegradation of PhCs from agro-industries. This review critically examined various methods for enhancing the degradation of PhCs using metal modified TiO2 materials based photocatalysis. It is also described how different strategies will impact the overall visible-light efficiency and energy requirements of the TiO2 photocatalyst. Furthermore, the most significant modifications to the TiO2 photocatalysts for enhancing the degradation of PhCs were identified. Finally, estimates and comparisons of each strategy's energy needs, energy savings and treatment costs for various modifications were carried out and presented. The industry should be encouraged to promote the advancement of TiO2-based photocatalysis by being aware of the technical challenges and energy demands during its development.

Olive stone as a filler for recycled high-density polyethylene: A promising valorization of solid wastes from olive oil industry

The valorization of solid residues generated from olive oil production is a challenging issue for olive oil-producing countries such as Greece, Italy, Spain, etc. Olive stone waste is a type of lignocellulosic biomass with potential use as a natural additive in polymeric composites. In the present study, olive stone waste was compounded with recycled high-density polyethylene (rHDPE) via melt mixing in 5 %, 10 %, and 20 % wt. Additionally, the effect of Joncryl (JC) and polyethylene-grafted maleic anhydride (PE-g-MA) as compatibilizers on the properties of the green composites was also investigated. It is worth mentioning that JC was employed for the first time as a compatibilizer for polyolefin composites with olive stone. The materials underwent structural, thermal, and mechanical characterization using multiple complementary techniques. Scanning electron microscopy showed good dispersion of the filler for all composites, while in the compatibilized samples a markedly better adhesion was observed. Tensile tests revealed an increase in the elastic modulus for the composite with 10 % wt. olive stone. Furthermore, all materials demonstrated a strong antioxidant activity, rendering them interesting for active packaging applications. Overall, the solid residue from olive processing can enhance the properties of rHDPE, paving the way to promote circular economy.

Актуальные проблемы обеспечения энергетической безопасности в сфере производства жидкого моторного топлива

The article presents the results of a study of current problems of ensuring energy security in the field of liquid motor fuel production. The proven oil reserves in the main oil-producing countries of the world, the dynamics of the world's population, as well as the volume of oil consumption are analyzed. The structure of the oil fields used in the implementation of production projects in the Russian Federation is investigated.

The Adoption of Renewable Energy Technologies by Oil-Producing Countries: An Inevitable Outcome at a Time of Global Challenges and Demand for Sustainable Development

This paper addresses the necessity of adopting renewable energy technologies in order to achieve sustainable development goals in light of increasing global challenges, with a particular focus on the current generation’s well-being. It addresses the potential impacts of global crises, such as energy and food crises, on the transition to renewable energy. Using a descriptive and analytical approach, this paper examines the environmental and economic costs and benefits of renewable energy as well as the commitment of oil-producing countries to international environmental treaties. The research utilises an econometric model to analyse the relationship between sustainable development goals and global challenges. Data from the United Nations Conference on Trade and Development and the International Renewable Energy Agency are used to inform the analysis. The findings showed that the rights and well-being of current generations are currently maintained by the persistent use of fossil fuels in oil-producing nations. Fossil fuels continue to be, and may likely remain, the primary energy source in various sectors of development, despite their significant contribution to environmental and climate issues. The paper offers insights and recommendations for policymakers seeking to determine when government spending should best be allocated to renewable energy technologies, balancing national economic interests with international agreements.