Wednesday, October 17, 2018

Tag: BP

Intelligence agencies are running al-Qaeda camps in North Africa  –  UN consultant

New evidence points to a Western cover-up of Algerian state sponsorship of Islamist jihadists, to protect oil and gas interests. An unpublished report by a government advisor and UN consultant, obtained exclusively by INSURGE intelligence, accuses Western and Algerian security services of complicity in al-Qaeda terrorist activity across North Africa. The...

British firms paid $60 billion by Obama’s Pentagon

British companies have earned more than $60 billion from US military contracts since President Obama came to power eight years ago, a Bureau analysis of Pentagon spending has found. As the Bureau exclusively revealed on Sunday, controversial UK public relations firm Bell Pottinger received over half a billion dollars to run a top...

Hillary Clinton Picks TPP and Fracking Advocate To Set Up Her White House

Two big issues dogged Hillary Clinton during the Democratic primary: the Trans-Pacific Partnership trade agreement (TPP) and fracking. She had a long history of supporting both. Under fire from Bernie Sanders, she came out against the TPP and took a more critical position on fracking. But critics wondered if this was...

Oil Giants Find There’s Nowhere to Hide From Doomsday Market

Exxon Mobil Corp. and Royal Dutch Shell Plc last week reported their lowest quarterly profits since 1999 and 2005, respectively. Chevron Corp.’s third straight loss marked the longest slump in 27 years, and BP Plc lodged its lowest refining margins in six years. Welcome to year two of a supply...

Oil Majors Hit Hard As Refining Boom Comes To An End

British Petroleum, the first oil major to announce results on Tuesday, has reported the lowest refining margins for the April to June period in the past six years. The global refining marker margin, which stood at $13.80 a barrel in the second quarter of this year, has dropped down...

Foolish Greece Now Joins NATO Gas War

Only eighteen months ago prospects for a major southern Europe natural gas pipeline from Russian gas fields across the Black Sea, into Turkey and on to the Greek-Turkish border was in negotiation between Russian President Putin and Turkey’s Erdogan. Turkish Stream as it was called, was proposed in talks...

Eni and BP Make Significant Gas Discovery in Egypt

A new natural gas discovery on the coast of Egypt's Nile Delta has been made by Eni and British Petroleum (BP). The two companies own a 50-50 share of the Baltim South license, the area of the delta in which the “significant” discovery occurred, a statement by Eni said. Over the...

BP, Shell among bidders to run Qatar oil field

DOHA - Six international oil firms including BP and Royal Dutch Shell Plc have bid to operate Qatar's largest offshore oil field, two people with knowledge of the matter told Reuters. The other bidders are the field's current operator Maersk, as well as Total SA, Chevron Corp and ConocoPhillips, said...

IMF loan gives net win for oil-rich Iraq

IMF last week agreed to the terms of $5.4 billion loan arrangement with Iraq. LONDON, May 24 (UPI) - Though a loan agreement with the IMF should help, Iraq will continue to face economic headwinds because of issues in the oil sector, Moody's said. The Iraqi government and the International Monetary...

Greek Pipeline Breakthrough To Challenge Russian Gas Dominance

After years of debate, political jockeying and acrimony, a major pipeline project to bring natural gas to Southern Europe has broken ground. The Trans-Adriatic Pipeline (TAP) will connect the Caspian Sea to European markets, providing Europe with another large source of natural gas that will help the continent diversify away...

Pipelines in the Sand

The Middle East After Sykes-Picot. Many historians misunderstand Sykes–Picot, the treaty that carved up the Middle East, as a random act of colonial mapmaking. In fact, the secret World War I agreement between France and the United Kingdom had everything to do with oil. France and the United Kingdom, as...

Price Rebound, Possible Turning Point Fail to Mask Industry Woes

The sharp rise in oil prices since February’s lows can’t mask the turbulence the oil and gas industry is still experiencing. Bankruptcies, staff layoffs, capital expenditure cuts, and falling productivity continue to be commonplace during the downturn that has so far lasted for seven straight quarters. The hope for...

Wikileaks: Hillary Clinton Helped Topple Gadhafi While France & UK Fought Over Libya’s Oil

Clinton bragged about the U.S. role in Moammar Gadhafi’s death, and her emails leaked by Wikileaks show the race to claim Libya’s resources in the aftermath. WASHINGTON — A message from Hillary Clinton’s private email server reveals that France and the United Kingdom both sought to control Libya’s oil in...

From Feast to Famine in Azerbaijan

Azerbaijan's decision to suspend development work on its planned 12bn m3/yr oil, gas, refining and petrochemical project highlights the complexity of getting the gas balance right in the Caucasus both now and in the long-term. While the long-term future for gas supplies from indigenous sources looks promising, right now there...

EU Messes up in Balkan Gas Geopolitics

In their determination to bypass their dependency on Russian natural gas, the bureaucrats of Brussels have approved construction of a trans-Adriatic gas pipeline from Azerbaijan to Greece. It looks workable on paper. There’s only one problem. It isn’t. It’s the latest move in the self-defeating EU pipeline war with...

Oman Gas Projects Could Undermine U.S. LNG Market Ambitions

Two separate projects in the sultanate of Oman are about to turn the tiny Gulf country into an important international liquefied natural gas (LNG) player that the U.S. will have to contend with in its ambition to become the leader of this market. The first one is an agreement with...

TAP gas pipeline to go ahead despite low oil prices

Construction of the Trans-Adriatic Pipeline (TAP) to take gas from Azerbaijan to Europe will go ahead despite low oil prices, but costs will be in sharp focus, a senior executive for TAP said on Tuesday. The 870-km (540-mile) pipeline, which will link Azerbaijan's Shah Deniz II field with Italy, crossing...

Woodside Scraps $40 Billion LNG Project After Price Collapse

Woodside Petroleum Ltd. and partners including Royal Dutch Shell Plc and BP Plc scrapped plans to develop the $40 billion Browse liquefied natural gas project in Australia after the plunge in oil and gas prices. Australia’s second-largest oil and gas producer won’t go ahead with the floating LNG development after completing...

Syria: Another Pipeline War

The fossil fuel industry’s business model is to externalize its costs by clawing in obscene subsidies and tax deductions—causing grave environmental costs, including toxic pollution and global warming. Among the other unassessed prices of the world’s addiction to oil are social chaos, war, terror, the refugee crisis overseas, and the...

Israel, Saudi Arabia, Defense And Oil Spent Nearly One Trillion Urging DC For More...

The defense industry spent $56,272,948 to influence Washington last year, but they weren’t the only ones urging Congress and Obama for more war. WASHINGTON — The defense industry spent millions lobbying the federal government last year, but they weren’t the only ones urging the country toward more war. Countries like...

What’s Really Going on With Oil?

If there is any single price of any commodity that determines the growth or slowdown of our economy, it is the price of crude oil. Too many things don’t calculate today in regard to the dramatic fall in the world oil price. In June 2014 major oil traded at...

SOCAR says no talks on commercial supplies of Iran gas via TANAP

The supplies of Iranian gas via the Trans-Anatolian pipeline (TANAP) were discussed only at the political level, not commercial, Vagif Aliyev, the head of the SOCAR Investment Department, said in an interview with Azerbaijani ANS TV channel. He said that TANAP pipeline is primarily being built for export of Azerbaijani...

Oil’s Big Bang: Saudis Mull IPO of World’s Biggest Producer

Saudi Arabia is considering its own Big Bang. The world biggest crude exporter is considering selling a stake in its state-owned company, which controls more than a tenth of the global oil market. A potential initial public offering is under review for Saudi Arabian Oil Co., also known as Aramco, Mohammed...

World: TAP in top 10 of most important projects for world economy

Trans Adriatic Pipeline (TAP), via which Azerbaijani gas will be transported to Europe, ranked seventh in the list of the most important investment projects for the world economy, the daily magazine “News of Albania” reported Jan. 6. The list of projects was prepared by the popular Italian economic newspaper “Il...

Conoco quits Russia after 25 years

ConocoPhillips, one of the pioneers of foreign investment in the Russian oil and gas industry, has completed a full retreat from the country by selling out of its Polar Lights joint venture with Rosneft. Conoco’s decision to leave Russia after more than 25 years highlights the challenges facing foreign investors...

Turkish-ISIL Oil Trade: Iraq, Iran, Syria, and Russia All Accuse Turkey of Smuggling Oil

Because of the Turkish government’s role in the multi-spectrum US-led war against the Syrian Arab Republic, a war of words has ignited between Ankara and Moscow. Russia, however, is not alone in accusing Turkey of being involved in the theft of Syrian and Iraqi oil. Turkish opposition politicians, Turkish...

The Oil Tanks

The oil industry ties behind think tanks' push to repeal the crude oil export ban. Over the past two years, nine of the most frequently cited US think tanks have released reports endorsing crude oil exports, sent experts to advocate exports in Congressional testimony, and published op-ed columns supporting a repeal of the ban on exporting crude oil.

Western firms primed to cash in on Syria’s oil and gas frontier

US, British, French, Israeli and other energy interests could be prime beneficiaries of military operations in Iraq and Syria designed to rollback the power of the ‘Islamic State’ (ISIS) and, potentially, the Bashar al-Assad regime. A study for a global oil services company backed by the French government and linked...

ISIS Oil Trade Full Frontal: Raqqa’s Rockefellers, Bilal Erdogan, KRG Crude, And The Israel...

"Effectively, we have been financially discriminated against for a long time. By early 2014, when we did not receive the budget, we decided we need to start thinking about independent oil sales” -- Ashti Hawrami, Kurdistan’s minister for natural resources In June of 2014, the SCF Altai (an oil tanker)...

Developing a Western Energy Strategy for the Black Sea Region and Beyond

In Developing a Western Energy Strategy for the Black Sea Region and Beyond, Senior Fellow at the Atlantic Council's Dinu Patriciu Eurasia Center and Global Energy Center Ariel Cohen addresses the urgent need for a European policy on Black Sea energy following Russia's annexation of Crimea. Dr. Cohen, himself...

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