Oil Price Spike Is Not As Far Away As Many Think
We are beginning to see the first real signs of the global oil markets moving rapidly back into balance. OPEC, which produces approximately 40 percent of the world’s oil supply, Continue Reading
Can Big Oil Survive At Today’s Prices?
Data suggests that oil producers need prices in the $70-80 range to survive. That is unlikely in the next year or so. Without more timely price relief, the future looks Continue Reading
Nigeria Oil Chief Defends Fuel-Price Increase Amid Strike Threat
Nigeria’s Minister of State for Petroleum Emmanuel Kachikwu defended the government’s decision to increase the price of gasoline as averting an even larger fuel shortage and financial crisis, as the Continue Reading
East Libya Oil Chief Agrees With Rival in West to Resume Exports
The oil terminal of Marsa al-Hariga in Libya. Competing administrations of Libya’s state-run National Oil Corp. in the east and west of the divided country agreed to resume exports from Continue Reading
Libya Plea for Arms to Fight Islamic State Backed by U.S.
U.S. Secretary of State John Kerry backed providing weapons to Libya’s unity government to assist in the fight against Islamic State and other jihadist groups, a move endorsed at a Continue Reading
Statoil to help tap Turkish gas
Norwegian energy company Statoil said Monday it signed an agreement with a Canadian exploration company to help explore the shale gas potential in Turkey. According to the terms of an Continue Reading
Saudi Arabia’s credit rating lowered
While strong when compared with other sovereign credit ratings, Saudi Arabia’s fiscal health remains under threat from low oil prices, Moody’s said. Moody’s Investors Service said the drop in crude Continue Reading
After 41 Years, Saudi Arabia’s Treasuries Holdings Are Unveiled
After 41 Years One of the great mysteries of the $13.4 trillion Treasuries market has been solved after more than 41 years. The Treasury Department on Monday released a breakdown Continue Reading
IS attacks gas plant near Baghdad
The latest in a string of asymmetric attacks around the capital, IS militants partially destroyed a propane filling station in Taji before Energy Police regained control. Iraqi firefighters try to Continue Reading
Nigeria arrests ‘Avengers’ oil militants
The Nigerian army has arrested several suspected members of a militant group called the “Niger Delta Avengers” (NDA), thought to be behind recent attacks on oil pipelines in the south. Continue Reading