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ID: 152261

Brunei Darussalam in 2016 : the sultan is not amused / Müller, Dominik M

Müller, Dominik M	Journal Article
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Summary/Abstract

Brunei continued in 2016 to suffer from declining oil and gas prices. The budget deficit grew. The Sultan made economic diversification and “prudent spending” the year’s central political themes. He criticized several government institutions during “surprise visits” and sharply attacked the Ministry of Religious Affairs for “delaying” the full enforcement of an Islamic legal reform.

Key Words

Brunei ; Legal Reforms ; Economic Diversification ; Oil Price Crisis ; Sharia

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ID: 145448

Brunei in 2015 : oil revenues down, Sharia on the rise / Müller, Dominik M

Müller, Dominik M	Journal Article
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Summary/Abstract

The oil price decline of 2015 caused significant losses for Brunei’s economy. The country is still preparing the second phase of its Sharia reform that began in 2014. In addition to his other government positions, Sultan Hassanal Bolkiah appointed himself as minister of foreign affairs and trade, replacing Prince Mohamed Bolkiah.

Key Words

Brunei ; Oil Price Crisis ; Sharia ; Fighting Corruption

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ID: 094307

Third oil price surge – what’s different this time? / Kesicki, Fabian

Kesicki, Fabian	Journal Article
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2010.

Summary/Abstract

The period from 2003 to 2008 was marked by an oil price increase comparable to the two oil price crises in the 1970s. This paper looks in detail at the situation of the oil price crises 30 years ago and compares them along various aspects on the demand and supply side with the recent price increase to identify similarities and differences. While both oil price crises in 1973 and 1979/1980 were ultimately caused by supply actions of members of the Organisation of Petroleum Exporting Countries (OPEC), all three oil price crises were preceded by high demand growth. Other aspects that favoured a high oil price in all three cases were low investments in new oil fields, as a consequence low spare capacity, and a weak US dollar. In addition, the recent oil price surge has been characterised by a high global refinery utilisation and refineries that did not adapt fast enough to the rising demand for lighter oil products. Moreover, broader geopolitical uncertainties, combined with risks associated with the oil trade helped push the oil price into a triple-digit zone. Speculation played only a limited and temporary role in accelerating price movements during the recent price increase.

Key Words

Crude Oil ; Oil Price Crisis ; Price Influence

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