Tuesday, April 24, 2018

Tag: Total

Shell Resumes Business With Iran

Royal Dutch Shell has restarted purchasing crude oil from Iran, according to trade sources and ship-tracking data cited by Reuters. The company’s resumption of business with the Middle Eastern country makes it the second oil major after the French firm Total to do so since international sanctions on Iran were...

Eurasia: China and Russia is Where It’s Happening

In 1865 at the end of the US Civil War New York journalist Horace Greeley popularized the expression, “”Go West, young man, and grow up with the country.” Today, some 150 years later, as the colossal economy of the United States of America sinks into obsolescence, outsourcing, income depression,...

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...

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...

The Race Between U.S. And Australian LNG Just Started

Cheniere Energy reached a milestone on February 25, dispatching the first shipment of LNG from its facility at Sabine Pass, Louisiana. The LNG tanker Asia Vision departed the U.S., bound for Brazil. The fact that Petrobras would be the first to benefit from Cheniere’s operations speaks to the confused...

Russia LNG Plant Gets $12 Billion From China Amid Sanctions

Russia's Yamal LNG, the biggest project to produce liquefied natural gas in the Arctic, signed loan agreements with two Chinese banks after more than a year of discussions with its majority shareholder targeted by U.S. sanctions. The accords signed with the Export-Import Bank of China and the China Development Bank...

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...

How Saudi Arabia’s war in Yemen has made Al Qaeda stronger – and richer

One unintended consequence of the war in Yemen: Al Qaeda now runs its own mini-state, flush with funds from raiding the local central bank and levying taxes at the local port. DUBAI/CAIRO – Once driven to near irrelevance by the rise of Islamic State abroad and security crackdowns at home,...

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...

Politics, economics still stifle Eastern Mediterranean gas

Since 2009, international interest in the Eastern Mediterranean’s offshore oil and gas resources has followed a cycle from widespread excitement, to a stall in activity, to disappointment and back to excitement again. The Levant Basin has seen several discoveries that could have a big impact on domestic economies. However,...

Iran wants euro payment for new and outstanding oil sales

Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief. A source at state-owned National...

Europeans line up to do business with Iran while Americans wait

MOSCOW — European businesses were set Sunday to speed back onto the Iranian market, hours after crippling international sanctions were lifted on Iran in exchange for Tehran’s pledge to put its nuclear program on ice. The flurry of investor excitement and the sheer size of Iran’s economy had some analysts...

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...

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...

Iran’s Energy Policy after the Nuclear Deal

Following the lifting of sanctions on Iran's all-important gas and oil sector, Tehran will seek to develop an "economy of resistance" by building out commercial relationships that increase other states' reliance on it, Atlantic Council Senior Fellow Dr. Sara Vakhshouri argues in Iran's Energy Policy After the Nuclear Deal. Using...

Iran’s Even More Tempting for Big Oil After Price Crop

The world is awash in crude, but big oil companies are lining up to develop new fields in Iran even as they slash spending and abandon exploration elsewhere. One thing explains this paradox: cost. The Middle Eastern country is one of the cheapest places in the world to tap new...

Gas Could Trump Oil in Iran’s Post-Sanctions World

Much of the energy discussion surrounding the lifting of Iranian sanctions has focused on the effects on oil prices, but Iran’s gas potential could shake up global gas markets and provide robust economic benefits for the country. Iran’s gas reserves are the second largest in the world (the largest...

Unmasking ISIS

INTRODUCTION Where did ISIS come from? How was it able to gain land, arms and money so quickly? This book will answer those questions ... and unmask ISIS. Part 1 shows that the U.S. – through bad policies and stupid choices – is largely responsible for the rise of ISIS. Part 2 reveals...

As oil prices tumble, from Algeria, Nigeria, Gabon to Angola, Africa’s producers are in...

The decline in the oil price has plunged Africa's oil and gas industry into dire straits, a situation made worse by factors such as uncertain regulation, corruption and the prospect of political and social instability. It is a particular burden on those economies most reliant on the industry for revenue,...

New Russian Gas Export Projects – From Pipe Dreams to Pipelines

In the twelve months since the collapse of global oil prices and the imposition of Western economic sanctions against Russia, the number of new Russian gas export project announcements has skyrocketed. Only last month, Gazprom signed a memorandum of understanding (MOU) with three European companies to build a second...

Post-sanctions Iran could be the next booming petrostate

As the world’s six major powers negotiate a nuclear deal with Iran, US and European oil companies are already eyeing the potential benefits of reinvesting in the country’s petroleum sector. If sanctions are eased, they are well positioned to provide the advanced technology and equipment Iran needs to further...

Iran and the Middle East: Who’s Afraid of Russia’s S-300 Air Defense System?

The executive order issued by Russian President Vladimir Putin, which lifts the ban on the export of weapons systems to Iran, has been met with sharp condemnation by Israel, and admonishment from the United States. While Moscow has yet to make a final decision on if/when it will begin supplying the...

Yemen LNG Declares Force Majeure As Fighting Escalates

As fighting in Yemen between Shiite Houthi rebels and a Saudi Arabia-led Sunni coalition continues to intensify, Yemen LNG announced Tuesday that it has declared force majeure to its stakeholders in the project. Tribal fighters have seized posts outside the city Balhaf in the southeastern region of the country...

Libya’s War Rages but Eni Keeps Pumping Oil

With protection from Islamic militias, Italian oil giant’s partners lift output as others exit. Italian energy giant Eni SpA has emerged in recent weeks as the only international oil company still pumping near capacity in war-torn Libya, helped by protection from militias and tribes secured by its local partners. Libya’s security risks have...

More Iran oil post-sanctions, aimed at Asia, may hurt Iraq

(Reuters) - A possible surge in Iranian oil exports from an end to sanctions will reboot a struggle between top Middle East producers for Asian buyers, with Iraq looking the most vulnerable. The latest twist to the saga of aggressive marketing is the world oil glut and low prices, likely...

Arctic Nightmares

If Sarah Palin were president, we’d know just what it was: a drill-baby-drill administration. Of course, there’s no mama grizzly in the White House, yet these last years have been a grizzly tale of the expansion of American oil and natural gas exploration and drilling from the fracking fields...

Reducing European Dependence on Russian Gas

There is limited scope for significantly reducing overall European dependence on Russian gas before the mid-2020s. Countries in the Baltic region and south eastern Europe which are highly dependent on Russian gas, and hence extremely vulnerable to interruptions, could substantially reduce and even eliminate imports of Russian gas by...

Islamic State Funds Push Into Syria and Iraq With Labyrinthine Oil-Smuggling Operation

West Pushes for Crackdown as Jihadists Move Fuel With Pipeline, Truck, Mule. The Islamic State is funding its rapid push into Syria and Iraq with a labyrinthine oil-smuggling operation that starts at seized Syrian oil fields, goes through makeshift refineries and can end up in jerrycans carried by mules into...

Iraq Embraces China’s Growing Oil Dominance

BAGHDAD— From the giant southern oilfields to the lively souks of Basra, China is drilling ever deeper into Iraq. Driven by an insatiable thirst for oil, Beijing secured a formidable position in Iraq's prized energy sector through auctions held four years ago. It is now seeking to buy 850,000 barrels...

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