Is Non-OPEC Beginning Serious Decline?
The EIA’s Monthly Energy Review just came out. They have the U.S. production numbers through December along with World, OPEC C+C, Non-OPEC and selected Non-OPEC nations through October. All EIA Continue Reading
IMF and World Bank move to forestall oil-led defaults
Ilham Aliyev, Azerbaijan’s president Officials from the International Monetary Fund and the World Bank are heading to Azerbaijan to discuss a possible $4bn emergency loan package in what risks becoming Continue Reading
Key Facts About Iran’s Economy as Red Carpets Replace Sanctions
Less than a fortnight after a decade of crippling economic sanctions on Iran ended, President Hassan Rouhani is being treated to red carpets, dinners with top CEOs and billion-dollar deals Continue Reading
Deprivation in Syria Deepens as U.N. Talks Loom
Photo Palmyra, Syria, in March 2014, before it fell to militants of the Islamic State. Credit Sergey Ponomarev for The New York Times Two top United Nations relief officials expressed Continue Reading
Opening a New Front Against ISIS in Libya
The Pentagon is ramping up intelligence-gathering in Libya as the Obama administration draws up plans to open a third front in the war against the Islamic State. This significant escalation Continue Reading
US eyes new campaign in Libya against Isis
The US is considering a new campaign of military action in Libya against Isis, the Pentagon said on Wednesday, amid worries that the jihadist group could seize control of a Continue Reading
Saudi Arabia Keeps Pumping Oil, Despite Financial and Political Risks
Call it the Saudi calculus. Oil prices were already plummeting 14 months ago when, at Saudi Arabia ’s insistence, OPEC put the global petroleum industry on notice: The member countries Continue Reading
Saudi Aramco – the $10 trillion mystery at the heart of the Gulf state
Along the King Fahd highway in downtown Riyadh, signs of the country’s wealth glitter and dazzle. Monuments include the massive Kingdom Centre – instantly recognisable by the giant bottle-opener feature Continue Reading
Nigeria Revenue Agency Says Trafigura Owes Taxes for Crude Swaps
Nigeria’s revenue agency said Trafigura Beheer BV owes back taxes for handling 12.5 million metric tons of crude through crude swap contracts with the government between between 2011 and 2014. Continue Reading
Mexican Government Considers Capitalization of Pemex
The Mexican government is considering a capitalization of Petróleos Mexicanos to bolster its working capital, but requires that the state oil company come up with a plan to cut costs Continue Reading