Saudi Economy Shows Deepening Signs of Strain as Spending Drops
M3 shrinks in Feb. from a year ago for first time since 2000 The Saudi economy is showing deepening signs of strain under the weight of cheap oil. Saudi consumers Continue Reading
Get house in order, World Bank tells Iraq
U.N. Secretary-General Ban Ki-moon, center, and Iraqi Prime Minister Haider Al-Abadi, right, review economic threats in the era of terrorism and lower crude oil prices. U.N. Photo by Mark Garten Continue Reading
Saudi Arabia loses oil market share to rivals in key nations
Saudi Arabia lost market share in more than half of the most important countries it sold crude to in the past three years, even as the kingdom increased output to Continue Reading
Oil at $45-$50 Is a Fair Price for World’s 4th-Biggest Buyer
Crude at $45 to $50 a barrel is enough to encourage India’s own exploration without squeezing fuel consumers, according to the oil minister of the world’s fourth-largest user. While the Continue Reading
Kenya: Intrigues and Power Play That Stand in the Way of an Oil Pipeline
A toxic convergence of national, corporate and personal interest on two competing oil pipeline routes is threatening regional integration in a dramatic saga involving Kenya, Uganda and Tanzania. Kenya and Continue Reading
Tanzania: Dar es Salaam, Uganda Pipeline Deal Seen
Tanzania is highly optimistic of striking an agreement with Uganda over construction of the 1,410-kilometre crude oil pipeline from Hoima, given the former’s competitive advantage. It is against this backdrop Continue Reading
Delays at Venezuela’s main crude port trigger vessels backlog
Serious delays to load and unload vessels at Venezuela’s main crude port started to create a backlog of tankers last week that is now extending to the island of Curacao, Continue Reading
China’s Fourth-Largest Oil Producer Said to Cut Pay, Investment
Shaanxi Yanchang Petroleum Group, China’s fourth-biggest oil producer, is cutting investments and salaries because of the oil price crash, according to people with knowledge of the matter. The company will Continue Reading
Automakers Expanding in China May Soon Face Weakening Demand
The new $1.3 billion Cadillac factory on the outskirts of Shanghai is a shrine to modern manufacturing, the kind of facility that automakers all over the world dream of building Continue Reading
Nuclear safety upgrades post-Fukushima cost $47 billion
Five years after the accident at Fukushima I in Japan resulted in three reactor meltdowns, the global nuclear industry is spending $47 billion on safety enhancements mandated after the accident Continue Reading