i m going to be discussing all of that with these two, there they are, dr ulrich hoppe, the director general of the german british chamber of industry and commerce. and helima croft, a member of america s national petroleum council, which advises the us energy secretary on strategy. also on the show, the big boss of the middle east s oldest privately held oil and gas company, crescent petroleum, joins me to talk about those skyrocketing prices, energy supply and the impact of the war in ukraine. wherever you rejoining me from around the world, once again, a big hello and a warm welcome to the show. you know, they war between russia and ukraine is about to enter its sixth month. the human suffering on the ground has been massive and the economic consequences of the war and the sanctions imposed on russia, are spreading around the world. nowhere is it as stark as the oil and gas industry. vladimir putin s invasion of ukraine is causing energy prices to skyrocket around the worl
an energy emergency? energy companies across the continent warn of higher prices. limited rationing is already under way in germany as the supply from russia starts to drop off. in america, they ve released more oil to the market but is it enough to keep us all going? with more sanctions and cold weather on the way, are we looking at a perfect storm for the energy market? i m going to be discussing all of that with these two, there they are, dr ulrich hoppe, the director general of the german british chamber of industry and commerce. and helima croft, a member of america s national petroleum council, which advises the us energy secretary on strategy. also on the show, the big boss of the middle east s oldest privately held oil and gas company, crescent petroleum, joins me to talk about those skyrocketing prices, energy supply and the impact of the war in ukraine. wherever you rejoining me from around the world once again a big hello and a warm welcome to the show. you know, t
helima, we ve talked about opec but there is also opec plus, which russia is a part of. do you think the relationship, russia s relationship with opec will change because of the war? well, this is a great question. because russia has been essentially the co chair of the opec plus arrangements since 2016, when you had russia essentiallyjoin the producer group to really put a floor under prices. and the saudis and the emiratis, the two big middle eastern reduces, have really said that they are looking to keep russia part of the group. they re not looking to break with moscow, despite the escalating western sanctions, despite their requests from countries like the united states for more opec barrels. so i think that opec are going to try to find a way to put some more supply on the market, while keeping russia within the producer group. but one source of potential tension that we should be
that are experiencing production problems. libya, for example, is down by abouti million barrels because of civil strike in that country. so there is real concern that as we head into the start date of these serious sanctions on russian energy exports, if saudi exhausts everything it has right now, there s not going to be really anything left to deal with any additional disruption. helima, we ve talked about opec but there is also 0pec+, which russia is a part of. do you think the relationship, russia s relationship with opec will change because of the war? well, this is a great question. because russia has been essentially the co chair of the 0pec+ arrangements since 2016, when you had russia essentiallyjoin the producer group to really put a floor under prices. and the saudis and the emiratis, the two big middle eastern