Russia’s invasion of Ukraine combined with the geopolitical instability it caused made 2022 a great year to be an oil major. But while most oil producers across the globe reaped profits, Mexico’s state-owned oil company Pemex struggled financially and enters 2023 with questions about its long-term viability hanging over it.
Since Russia’s invasion of Ukraine, Germany has been weening itself off of its dependence on Russian energy, despite grave predictions about the potential fallout, including fears of a financial meltdown. But as the winter cold has descended on Europe, these concerns of rationing and shortages have not been borne out.
When major energy reserves were discovered off Senegal’s northern coastline in 2015, many hailed it as great news for a country where more than half the population lives below the poverty line. But with the reserves due to come online this year, the situation is more complicated than when celebrations broke out almost eight years ago.
