Although Iran’s nuclear potential will likely dominate talks between President Obama and King Abdullah on March 29, Riyadh’s own nuclear plans should also be part of the discussion. A major probable consequence of Iran achieving a nuclear weapons capability is that Saudi Arabia will seek to match it. With President Obama currently rating the chances… Keep reading →
President Obama’s meeting with Saudi Arabia’s King Abdullah tomorrow is expected to largely focus on Iran, but other topics are likely to include Egypt, Syria and of course the US-Saudi strategic partnership. US-Saudi relations have been tumultuous of late – making this meeting especially important – due to disagreements over US-Iranian negotiations, the lack of… Keep reading →
Energy is the backbone of any growing economy, which justifies the heavy reliance of the world economies on it. According to Alam (2006), “energy is the indispensable force driving all economic activities”. In other words, energy consumption is a prerequisite for economic growth and overall development. The energy composition of a country is equally important… Keep reading →
In a story developing throughout the week, Libyan rebels sold 230,000 barrels of crude oil officially owned by Libyan National Oil Company to a North Korean-flagged tanker heading to an unknown destination. In response, the Opec member country sacked Prime Minister Ali Zeidan on Tuesday. [AFP and Reuters] The Tesla Motors sales model took a… Keep reading →
IEA’s latest Monthly Oil Market Report called for Opec to maintain current production levels of around 30 mmb/d amid developed world demand resurgence that has depleted OECD oil inventories by 1.5 mmb/d in the last three months of 2013, the steepest quarterly decline since 1999. “At this time of year, when the global oil market… Keep reading →
In what could already be described as stunning news – and would become a stunning development if it materialized – is a report by Reuters that the United Arab Emirates (UAE), an OPEC oil producer situated in the Persian Gulf, is “said to be looking at the possibility of importing natural gas from North America.”… Keep reading →
Incremental Iraqi oil production growth will play a critical role in the medium-term global oil market and increasingly demand Opec’s attention, as other producing countries will need to cut output to avoid flooding the market and potentially reducing the price of oil upon which their economies rely. This Congressional Research Service report focuses on politics,… Keep reading →
Opec member United Arab Emirates is reportedly considering investing in North American energy assets and possibly importing natural gas as part of the deal. Major oil producers across the Arabian Gulf region – including the Saudis – face tightening gas production and consumption fundamentals, as their domestic energy use soars, greater volumes of associated gas… Keep reading →
A new report with contributions from 100 clean energy experts and business leaders offers 200 “executive-action recommendations” to President Obama regarding the best ways to advance the country’s clean energy agenda. Former Colorado Governor Bill Ritter led the report that included insight from Obama’s former lead energy and climate advisor Heather Zichal. [National Journal] Germany’s… Keep reading →
ExxonMobil’s Ken Cohen highlights the tax payments made by some of the largest US-based oil companies, three of which – Exxon, Chevron and ConocoPhillips – appear in a list of the Top 10 corporate tax payers in 2012 compiled by 24/7 Wall Street. “In fact, ExxonMobil and Chevron are ranked #1 and #3 respectively, with… Keep reading →
