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Jean-François Seznec’s focus is on the growth of energy-based industries, such as petrochemicals, aluminum, or steel, in the Gulf. He is a former non-resident scholar at MEI, a non-resident senior fellow at the Atlantic Council, and an adjunct professor at Johns Hopkins’ School of Advanced International Studies. He has 25 years of experience in international banking and finance, ten of which were spent in the Middle East.
Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
In a new briefing book released ahead of the U.S. elections in November, entitled Election 2020: Challenges and Opportunities for US Policy in the Middle East, MEI scholars lay out key issues across the region, highlight the U.S. interests at stake, and provide policy insights and recommendations for the path forward.
Cratering demand for Qatar’s main exports has reduced its income to a fraction of what it was last year, but its nest egg is held in very illiquid assets.
Economies around the world are being battered by two “black swan” events at the same time: the COVID-19 virus and the oil price war between Russia and Saudi Arabia. Naturally, the countries of the Middle East and North Africa (MENA) are also affected, although each in different ways. Those that are net users of energy, which could have benefitted substantially from the vastly lower energy prices, are getting hit hard by COVID-19, while oil and gas producers are suffering from an all-out oil price war made worse by the steep decline in worldwide demand caused by the pandemic.
The main takeaway from the Saudi Aramco IPO in December 2019 is that the Saudi leadership is willing to fully support private investors.
The Saudi Aramco IPO got started this Sunday morning with shares priced at SAR 30-32 ($8-8.50) each, valuing the company at $1.7 trillion, $300 billion below the original estimate. The lower valuation has been expected for some time by most investment banks and many financial analysts. The proceeds are expected to fund the Public Investment Fund’s forays into non-energy-based companies, advanced technologies, and even robot-filled cities.
The FII’s public relations bash is important in that it shows the world that the leadership of the kingdom has an ambitious and real vision to move the country forward.
This week’s briefing on recent news and upcoming events in the region featuring Marvin G. Weinbaum, Robert S. Ford, Fatima Abo Alasrar, Jean-François Seznec, Michael Sexton and Eliza Campbell.
In this week’s Monday Briefing, MEI experts Robert S. Ford, Mirette F. Mabrouk, Nathan Stock, Marvin G. Weinbaum, and Jean-François Seznec provide analysis on recent and upcoming events including the government shakeup in Algeria, Egyptian President el-Sissi’s visit to Washington, rocket attacks from Gaza, Imran Khan’s war against poverty, and a $69 billion merger between Saudi Arabia’s oil and chemical giants.
In this week’s Monday Briefing, MEI experts Randa Slim, Robert S. Ford, Marvin G. Weinbaum, James P. Farwell, Emadeddin Badi, Guney Yildiz, and Jean-François Seznec provide analysis on recent and upcoming events including Iranian President Hassan Rouhani’s visit to Baghdad, reconstruction efforts in Syria, the crackdown on militant Islamists in Pakistan, Iran’s cyber attack capabilities, upcoming elections in Libya, Turkish-Egyptian tensions, and Qatar’s $12B loan from bond markets.
In this week’s Weekly Briefing, contributors Paul Salem, Marvin G. Weinbaum, William Lawrence, Ruba Husari, and Jean-François Seznec provide analysis on recent and upcoming events including the Arab Economic Summit held in Beirut this weekend, Afghanistan’s upcoming presidential elections, strikes in Tunisia, the Trump administration’s next steps on Iranian oil policy, and Saudi Aramco’s $10B bond issue.
In this week’s Monday Briefing, MEI experts Charles Lister, Randa Slim, Jean-François Seznec, and Mirette F. Mabrouk provide analysis on recent and upcoming events including escalating tensions in Idlib, protests in Basra and their implications for Iraqi politics, a Saudi sovereign wealth fund’s loan to help make up for Aramco IPO revenue, and Egypt’s diplomatic outreach to China.
In this week’s Monday Briefing, MEI experts Jean-François Seznec, Randa Slim, and Charles Lister provide analysis on recent and upcoming events including Saudi Aramco’s stalled IPO, the Iraqi Kurds’ evolving role in government formation talks, and ratcheting tensions in Idlib.
The bureaucratic battle for Saudi Arabia’s future
Jean-François Seznec, MEI Scholar
Even though energy production and exports are the lifeblood of all Arab states in the Gulf, the present crisis between Qatar on the one hand and Saudi Arabia, the United Arab Emirates, Bahrain, and Egypt on the other has had very little influence on the economics of oil and gas either internationally or within the region. However, the countries involved have a lot to gain from a resolution of the conflict, particularly if it leads to greater energy market integration.
