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The gepolitics of oil and gas at the beginning of the 21st century

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The paper analyses main geopolitical issues in the geopolitics of petroleum and gas and geopolitical circumstances on the world petroleum market at the beginning of the 21st century. The influence of geopolitical factors on market conditions increased after the terrorist attack on the USA on 11 September 2001, resulting in petroleum price increase after 2003. The world petroleum market entered a new phase of possible energy crises, political instability and major upsets. Such a situation again brings to the fore necessity for energy conservation, improvement of energy efficiency and more intensive use of renewable energy sources. Geopolitical development and contradictions that arise from uneven distribution of petroleum production and consumption in the world, impact of these global events on power industry and circumstances in the petroleum and gas sector crucially define the energy strategy of a smaller country like Croatia.

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