Search Results (229)

This study investigates the impact of natural resource rents (natural gas, forests, minerals, and oil) on capital formation in BRICS economies from 1990 to 2023. It focuses on the importance of natural resource rents and their influence on capital formation in Brazil, Russia, India, China, and South Africa. Foreign direct investment (FDI) is included as a moderating factor. Using the method of moment quantile regression (MMQR), the study finds that higher natural resource rents reduce gross fixed capital formation (GFCF) in the upper quantiles. In contrast, FDI dampens these adverse effects and strengthens the positive impact on GFCF in the upper quantiles. Granger causality analysis reveals that natural gas rent, FDI, GDP, trade openness, domestic investment, and institutional quality all affect capital formation, with feedback relationships evident. There is unidirectional causality from forest rent and mineral rent to capital formation, and from capital formation to inflation and financial development. Propensity score matching (PSM) indicates that BRICS economies with higher FDI also have higher GFCF, owing to FDI’s influence on resource rents. The seemingly unrelated regression (SUR) analysis for cross-country comparison indicates that Russia has higher NGR, FR, and OR, resulting in more pronounced negative changes in Russia’s capital formation than in India. Additionally, the results of the SUR analysis indicate that China’s higher NGR, FR, and OR are associated with larger adverse changes in capital formation than those in Russia. The findings from additional analysis using the PSTR model, with gross capital formation as the dependent variable, indicate that when institutions are weak, natural resources reduce gross capital formation and foreign investment in resource sectors yields minimal spillovers. However, when institutions are stronger, natural resources are used productively, and investment from outside the resource sector yields broader benefits, boosting GCF. Moreover, robustness checks using panel fixed-effects regression and endogeneity analysis with a system GMM estimator show that higher natural resource rents are associated with weaker capital formation, and that FDI mitigates the negative influence of natural resource rents as a moderating factor. These empirical results can inform policy recommendations on natural resource rents and FDI to achieve high capital formation in BRICS economies. Full article

Transition to renewable energy leads to assumed economic diversification; however, the institutional risks for hydrocarbon-dependent economies remain high. This paper identifies the conditions under which transitioning economies enter a novel dependency during the renewable transition. Our analysis combines the Multi-Level Perspective with Historical Institutionalism to explore Azerbaijan’s 30-year trajectory across the oil, gas, and emerging renewable phases, serving as an illustrative case. Evidence from the literature and expert interviews illustrates that renewable investments are channelled through hydrocarbon-era institutional practices, enclave-style contracting, centralised decision-making, and reliance on foreign technology providers. These conditions constrain domestic niche formation and limit opportunities for local capability development. As a result, renewables become embedded within the existing institutional architecture rather than displacing it, serving primarily to substitute hydrocarbons as an export commodity rather than to catalyse diversification. The paper conceptualises this trajectory as a possible renewable dependence: a pathway in which renewable energy is integrated into an export-oriented, state-dominated political economy without altering its core institutional logic. The identified configurations are common across hydrocarbon economies in Central Asia and MENA, offering transferable insights into when and why renewable transitions risk reproducing, rather than transforming, established development models. Full article

Algal biofuels have been investigated as an alternative to fossil fuels and first-generation biofuels for transportation in the United States since the 1970s. Yet after five decades of development, scalability and implementation remain limited—largely due to persistent barriers such as low biomass productivity, modest lipid yields, and energy-intensive processing methods. These technical challenges significantly constrain the feasibility of large-scale commercialization despite substantial research and investment. To evaluate progress toward commercial viability, this study harmonized energy inputs and outputs across 508 observations on the production of algal biofuel energy return on energy investment (EROEI) in the United States. While bioethanol achieves an EROEI of (2.8) and oil (8.7), the analysis produced a mean EROEI of 1.01—essentially the break-even point—irrespective of system boundaries. Life-cycle analysis results showed that hydrothermal liquefaction in algal diesel production yielded a slightly higher mean EROEI (0.67) than transesterification (0.51), yet both showed net energy losses. Co-products were found to increase EROEI values, particularly when recycled into production processes. Collectively, these findings indicate that research and development to date has not produced a technology with net energy gains sufficient for commercial viability. For this reason, algal biofuels show little potential to alleviate the ongoing decline in the EROEI of petroleum and are not a promising renewable energy option for reducing greenhouse gas emissions from the transportation sector. They also show little promise for alleviating the land use, food vs. fuel and other controversies that have plagued first and second-generation biofuels. Full article

The gas oil hydrocracking process is a cornerstone of modern refining, enabling the conversion of heavy fractions into high-value fuels such as diesel, kerosene, LPG, and naphtha. However, despite its economic significance, its considerable water requirements for cooling, washing, and steam generation lead to high utility costs, which may undermine profitability, representing the problem of the study. This study addresses the issue through a techno-economic assessment and resilience analysis of an industrial-scale, mass and energy-integrated gas oil hydrocracking process, utilizing the novel FP²O methodology. The process was modeled in Aspen HYSYS^® V14.0 with a capacity of 1.94 Mt/year, assuming a feedstock cost of USD 350/t and a primary product (diesel) price of USD 1539/t. The total capital investment (TCI) was estimated at USD 175.68 million, while utility expenses reached USD 1312.18 million/year, representing nearly half of the total product cost (TPC) of USD 2692.20 million/year. A set of twelve techno-economic and three financial indicators was determined, yielding a gross profit (GP) of USD 97.69 million, profitability after tax (PAT) of USD 64.96 million, and a net present value (NPV) of USD 229.62 million. The payback period (PBP) was 1.41 years, with a depreciable payback period (DPBP) of 2.99 years. The return on investment (ROI) was 36.97%, and the internal rate of return (IRR) reached 44.81%, evidencing strong profitability relative to comparable petrochemical operations. Resilience analysis highlighted sensitivities to fluctuations in product prices, feedstock costs, and normalized variable operating costs (NVOC), identifying a critical NVOC of USD 1435/t against the current operation at USD 1384.74/t, which suggests a narrow buffer before profitability deteriorates. Overall, the findings confirm that mass and energy integration enhances resource efficiency but does not fully mitigate exposure to feedstock and utility price volatility. This work constitutes the first application of FP²O to a mass and energy-integrated gas oil hydrocracking facility, establishing a benchmark for holistic techno-economic and resilience assessments in complex petrochemical systems. Full article

Investigating the key factors that contribute to the development of a green economy is essential for governments and policymakers as they decide where to allocate their investments. However, the determinants of a green economy, particularly regarding different energy sources, remain an under-researched area, especially in the context of GCC (Gulf Cooperation Council) economies. This study aims to explore the roles of natural gas production, crude oil production, and electricity production from renewable energy sources in the transition towards green economic transformation. For our estimation, we employed panel data techniques, utilizing data from all six GCC economies covering the period from 2010 to 2023. Our results indicate that both the use of renewable energy sources and natural gas production have significantly contributed to advancing green economic transformation in these economies. In contrast, crude oil production has been found to be an irrelevant factor in explaining the transition to green growth in the GCC. The causality analysis revealed that there is a one-way causal relationship between natural gas production and green economic transformation and a two-way causal relationship between electricity generation from renewable sources and green economic transformation in GCC economies. Based on the study’s findings, we recommend that policymakers in GCC economies embrace green economic transformation by increasing the use of renewable sources and natural gas in production. Green economic transformation would help GCC economies pursue advanced, sustainable economic performance. Full article

This paper reveals profound obstacles to sustainable supply chain integration in Industry X.0 in the United Arab Emirates (UAE) by utilizing a hybrid Fuzzy Delphi-TOPSIS approach and enriching the viewpoints of 102 experts in oil/gas (45%), logistics (30%), government (15%), and academia (10%). The top obstacles are a lack of favorable leadership (Fuzzy Delphi Threshold (FDT), FDT = 0.82) and insufficiency of sustainability professionals (FDT = 0.82), with strategy prioritization training (Rank 1, Closeness Coefficient Index (cci) cci = 0.1255) and employee engagement (Rank 2, cci = 0.1499) being among the most important solutions as opposed to technological solutions. Most importantly, AI-related technologies had a low ranking of seventh place because of their lack of implementation, which proves that human capital enhancement is always prioritized before technological adaptation. The oil/gas industry values AI with respect to regulatory compliance commitments to emissions monitoring, whereas SMEs accentuate the problem of training because of the limited resources available to them, which also indicates the societal relevance of the concept of AI to social entrepreneurship and the blockchain-based transparency and access to green technologies. This study contributes (1) a decision-oriented framework bridging the traditional 2050 vision of the UAE and the realities it faces day to day, (2) empirical insights into the need for cultural principals within governance so as to prevent the so-called paperwork syndrome, and (3) a theoretical advancement that sees AI as an enhancer of human-centric methodologies. The conclusions provide policymakers with knowledge of the importance of the ability to contextualize investments in organizational culture prior to technology implementation in order to provide effective sustainability transitions. Full article

Upland cotton is an important fiber and oilseed crop. Cottonseed produces approximately 15% of farm gate value in cotton production. Therefore, improvement of cottonseed oil can significantly increase the economic return of cotton production with the same land use and investment. However, genetic variation in cottonseed oil is highly limited within upland cotton, limiting the genetic gain in cottonseed oil. Introgression breeding can alleviate this bottleneck effect by introducing desirable genes from Pima to Upland cotton. The objective of this study was to evaluate introgression lines (ILs) for better cottonseed oil. A population of 590 ILs, developed from a cross between Acala 1517-99 and Pima, was grown in Las Cruces, NM in 2022 which was used for the fatty acid methyl ester analysis through gas chromatography. There was a high level of variation in cottonseed oil and fatty acids. In the biplot, cottonseed oil was positively correlated with oleic acid and negatively related with palmitic acid. The cluster analysis identified a group of ILs with the highest average oil and oleic acid. As a result, ILs with better oil profiles were identified for further testing and analysis toward the development of high-quality cotton varieties with higher and better oil. Full article

The global energy transition is pushing the development of advanced biofuels to reduce greenhouse gas (GHG) emissions in the aviation industry. This study thoroughly evaluates the potential of the Colombian crude palm oil (CPO) sector to support sustainable aviation fuel (SAF) production. Extensive primary data from 53 palm oil mills and 269 palm plantations were examined. The methodology included a carbon footprint analysis of SAF produced from Colombian CPO through the HEFA pathway, an economic aspects analysis, a review of renewable fuel standards, and an assessment of market access for low-CO₂-emitting feedstocks. The results show that the carbon footprint of the Colombian palm oil-SAF is 16.11 g CO₂eq MJ⁻¹ SAF, which is significantly lower than the 89.2 g CO₂eq MJ⁻¹ reference value for traditional jet fuel. This figure considers current direct Land Use-Change (DLUC) emissions and existing methane capture practices within the Colombian palm oil agro-industry. A sensitivity analysis indicated that this SAF’s carbon footprint could decrease to negative values of −4.58 g CO₂eq MJ⁻¹ if all surveyed palm oil mills implement methane capture. Conversely, excluding DLUC emissions from the assessment raised the values to 47.46 g CO₂eq MJ⁻¹, highlighting Colombia’s favorable DLUC profile as a major factor in its low overall CPO carbon footprint. These findings also emphasize that methane capture is a key low-carbon practice for reducing the environmental impact of sustainable fuel production, as outlined by the CORSIA methodology. Based on the economic analysis, investing in Colombian CPO-based SAF production is a financially sound decision. However, the project’s profitability is highly susceptible to the volatility of SAF sales prices and raw material costs, underscoring the need for meticulous risk management. Overall, these results demonstrate the strong potential of Colombian palm oil for producing sustainable aviation fuels that comply with CORSIA requirements. Full article

The development of low-permeability reservoirs offshore entails substantial investment and demands high production capacity for oil and gas. Consequently, the analysis and evaluation of key elements for integrated geological–engineering sweet spots have become essential. This study systematically establishes a coupled analysis methodology for geological and engineering parameters of low-permeability reservoirs, based on Offshore Oilfield A. A comprehensive evaluation framework for geological–engineering sweet spots is proposed, which applies grey relational analysis and the analytic hierarchy process. Twelve geological–engineering sweet spots were analysed, with corresponding parameter weightings determined. Geological sweet spots encompassed factors such as porosity, permeability, and oil saturation, and engineering sweet spots considered Young’s modulus, Poisson’s ratio, fracture factor, and brittleness index. Low-permeability reservoirs were categorised into Classes I, II, III, and IV by establishing indicator factors. Integrating seismic inversion and reservoir numerical simulation methods, we constructed an analysis model. This methodology resolves challenges in evaluating offshore low-permeability reservoirs, enabling rapid and precise sweet spot identification. It provides critical technological support for enhancing oil and gas production efficiency. Full article

Mine Thermal Energy Storage (MTES) offers a promising solution for sustainable heating by repurposing abandoned, water-filled mines as underground thermal reservoirs. This study assesses the feasibility of implementing MTES in Nova Scotia, with a focus on the Sydney coalfield region, particularly Glace Bay. The research combines geological analysis, residential heat demand estimation, thermal storage capacity estimation, and cost–benefit evaluation to determine whether abandoned coal mines can support district heating applications. Results show that MTES can deliver substantial heating cost reductions compared to oil-based systems, while significantly lowering greenhouse gas emissions. The study also explores the integration of MTES with local renewable energy sources, including wind and solar, to enhance energy system flexibility and reliability. International case studies from Springhill (Canada), Heerlen (Netherlands), and Bochum (Germany) are referenced to contextualize the analysis and demonstrate how the findings of this study align with broader MTES scalability, performance, and operational challenges. Key technical barriers, such as water quality management, infrastructure investment, and seasonal variability in heat demand, are discussed. Overall, the findings highlight MTES as a viable and sustainable energy storage approach for Nova Scotia and other regions with legacy mining infrastructure. Full article

In the context of mounting climate impacts and growing urgency to meet the Paris Agreement goals, the ocean is now increasingly being recognised not just as a victim of climate change, but as an indispensable part of the solution. Research has demonstrated that readily actionable ocean-based climate solutions can help close the emissions gap (the difference between the greenhouse gas emission reductions needed to limit global warming to 1.5 °C, and projected global emissions considering current national pledges and policies) by providing approximately a third of the mitigation needed to keep the Paris Agreement’s 1.5 °C goal within reach. This mitigation potential (of fully actioning these solutions) is unequally divided across seven key ocean-based action areas (listed in decreasing order of magnitude): phasing out offshore oil and gas; deploying offshore renewable energy infrastructure; decarbonising maritime transport and associated infrastructure; decarbonising ocean and aquatic food value chains; carbon capture and storage; marine and coastal conservation and restoration; and decarbonising coastal tourism. We argue that achieving the full potential of ocean climate solutions will require smart governance, drastically increased financial investment, and international cooperation. Accomplishing this, however, will bring strong co-benefits for biodiversity, food systems, and coastal resilience. The Third United Nations Ocean Conference and 30th United Nations Climate Change Conference of the Parties (COP 30) present rare opportunities to mainstream the ocean into global climate strategies. Full article

Oil and gas development is characterized by high technical complexity, strong interdisciplinarity, long investment cycles, and significant uncertainty. To meet the need for quick evaluation of overseas oilfield projects with limited data and experience, this study develops an analogy indicator system and tests multiple machine-learning algorithms on two analogy tasks to identify the optimal method. Using an initial set of basic indicators and a database of 1436 oilfield samples, a combined subjective–objective weighting strategy that integrates statistical methods with expert judgment is used to select, classify, and assign weights to the indicators. This process results in 26 key indicators for practical analogy analysis. Single-indicator and whole-asset analogy experiments are then performed with five standard machine-learning algorithms—support vector machine (SVM), random forest (RF), backpropagation neural network (BP), k-nearest neighbor (KNN), and decision tree (DT). Results show that SVM achieves classification accuracies of 86% and 95% in medium-high permeability sandstone oilfields, respectively, greatly surpassing other methods. These results demonstrate the effectiveness of the proposed indicator system and methodology, providing efficient and objective technical support for evaluating and making decisions on overseas oilfield development projects. Full article

With the emergence of Survey 4.0, the oil and gas (O & G) industry is now considering spatial digital twins during their field design to enhance visualization, efficiency, and safety. O & G companies have already initiated investments in the research and development of spatial digital twins to build digital mining models. Existing studies commonly adopt surveys and case studies as their evaluation approach to validate the feasibility of spatial digital twins and related technologies. However, this approach requires high costs and resources. To address this gap, this study explores the feasibility of the informed argument method within the design science framework. A land survey data model (LSDM)-based digital twin prototype for O & G field design, along with 3D spatial datasets located in Lot 2 on RP108045 at petroleum lease 229 under the Department of Resources, Queensland Government, Australia, was selected as a case for this study. The ISO/IEC 25010 model was adopted as a methodology for this study to evaluate the prototype and Digital Twin Victoria (DTV). It encompasses eight metrics, such as functional suitability, performance efficiency, compatibility, usability, security, reliability, maintainability, and portability. The results generated from this study indicate that the prototype encompasses a standard level of all parameters in the ISO/IEC 25010 model. The key significance of the study is its methodological contribution to evaluating the spatial digital twin models through cost-effective means, particularly under circumstances with strict regulatory requirements and low information accessibility. Full article

This study is devoted to a comprehensive technical and economic assessment of the prospects for the development of the oil and gas sector in the Republic of Mozambique in the context of the global energy transition. The analysis of key gas projects, including Coral South FLNG and Mozambique LNG, focused on their technological features, economic parameters and environmental impact. It is shown that the introduction of floating liquefaction technology reduces capital expenditures, increases operational flexibility, and minimizes infrastructure risks, especially in conditions of geopolitical instability. Based on a comparative analysis of the projects, it was found that the use of modular solutions and the integration of carbon capture and storage (CCS) systems contribute to improving sustainability and investment attractiveness. A patent analysis of technological innovations was carried out, which made it possible to substantiate the prospects for using nanotechnologies and advanced CO₂ capture systems for further development of the sector. The results of the study indicate the need to strengthen content localization, develop human capital, and create effective revenue management mechanisms to ensure sustainable growth. The developed strategic development concept is based on the principles of the sixth technological paradigm, which implies an emphasis on environmental standards and technological modernization, including on the basis of nanotechnology. Thus, it is established that the successful implementation of gas projects in Mozambique can become the basis for long-term socio-economic development of the country, provided that technological and institutional innovations are integrated. Full article

If new technologies can increase production efficiency and reduce the consumption of natural resources, they can also bring new environmental risks. This dynamic is particularly relevant for the automotive industry, since it is one of the sectors that invests most in R&D, but at the same time also contributes a significant portion of greenhouse gas emissions and consumes a large amount of energy. This article aims to analyze the feasibility of meeting the environmental targets in place within 32 European countries in light of the recent technological trajectory of the automotive industry, namely with regard to the adoption of the propulsion model’s alternative to oil and diesel. Using data disaggregated by countries from 2000 up until 2020, in this paper, the estimated regressions aimed to not only verify whether electrical vehicles had a positive impact on CO₂ emissions found in the European market, but to also assess whether they will meet the target set for the next 30 years, with attention to the economy recovery after 2025 and a more robust EV market penetration in replacement of traditional fossil fuels cars. Full article