Iranian Sanctions Repealed – Focus On Natural Gas
Iran is resuming energy exports and foreign vessels are able to call on Iranian Ports. While most focus on crude, the potential of natural gas is largely ignored. Iran is Continue Reading
Basra security reinforced amidst unrest near oil sites
The Iraqi government is responding to the ongoing threat of lawlessness around oil sites in Basra by bolstering security forces and giving them new leadership.Gen. Jameel al-Shimmari assumed leadership of Continue Reading
Iran’s Oil Deals Hit Banking Snag
Even after the lifting of international sanctions against Iran, long-standing U.S. banking limitations are impeding the country’s oil resurgence by forcing energy companies to use small lenders or barter to Continue Reading
Big Guards-owned company may lose out as Iran economy, politics shift
Long used to lucrative state contracts, Iran’s biggest construction company faces leaner times, as overseas firms better able to attract financing push for orders in an economy trying to open Continue Reading
Shrinking Oil Revenues Prompt Gulf States to Sell Bonds
The oil-exporting countries of the Persian Gulf, from Qatar to Saudi Arabia, are turning to the public to sell debt as shrinking oil revenues erode their budgets. Qatar, which owns Continue Reading
Saudi Arabia to Revive Its Solar Power Program at Smaller Scale
Saudi Arabia is seeking to revive its stalled solar-power program, scaling back more ambitious targets it set four years ago after making little headway in transforming the energy supply of Continue Reading
Libyans Weigh Biggest Devaluation Since 2002, Official Says
Libyan authorities are weighing the largest currency devaluations in more than a decade in an attempt to repair finances battered by conflict and the plunge in crude prices. Ali Jihani, Continue Reading
Pre-OPEC Meeting Said to Have No Discussion of Oil-Output Limits
The final preparatory gathering of officials from the Organization of Petroleum Exporting Countries before the ministerial meeting on June 2 didn’t discuss any limits on crude output, the latest signal Continue Reading
Nigeria Owes Airlines $575 Million in Fares as Oil Crimps Income
Nigeria owes airlines more than half a billion dollars in outstanding air fares as the oil-price slump depletes reserves of the U.S. currency and prompts the government to limit the Continue Reading
Venezuela sells gold reserves as economy worsens
Venezuela’s gold reserves have plunged to their lowest level on record after it sold $1.7bn of the precious metal in the first quarter of the year to repay debts. The Continue Reading