Russian national oil company Rosneft is expanding development at its Vankor field in Eastern Siberia and recently announced its beginning construction of a pipeline that will link a satellite field – Suzun – to the Vankor complex. “According to geologic data form January 2014, reserves of oil and condensate of the Suzun field total over… Keep reading →
The temporary and limited changes to U.S. and European Union (“EU”) sanctions policy for Iran, as agreed under the interim nuclear deal reached by Iran and the P5 + 1 countries, have been extended until June 30, 2015. Most U.S. and EU sanctions on Iran remain in place and will continue to be enforced. Until June 30, 2015, non-U.S. individuals and companies (unless U.S. owned or controlled) will not face U.S. sanctions enforcement if they engage in specified transactions relating to: (a) the export of Iranian petrochemical products, (b) the provision of goods and services for Iran’s auto industry, (c) the sale of gold and precious metals to or from Iran, and (d) the provision of insurance and transport services associated with sales of Iranian oil to six specified countries. The U.S. government has continued the favorable licensing policy for the provision of goods and services to Iran’s civil aviation industry by U.S. persons, U.S. owned/controlled foreign entities and non-U.S. persons. The U.S. also is taking steps to facilitate certain humanitarian and medical trade with Iran, payment of UN dues and support for Iranians studying abroad.
While the purpose of multilateral negotiations with Iran is to reduce proliferation concerns, successful talks may in fact accelerate nuclear plans in the Gulf states and Jordan. In April 2009, King Abdullah of Saudi Arabia famously told U.S. special envoy Dennis Ross that “if [the Iranians] get nuclear weapons, we will get nuclear weapons.” Such… Keep reading →
Such a program should strengthen the moderate opposition militarily and enhance its political and informational capabilities, while disrupting Salafi-jihadist recruitment. The Obama administration’s decision in June to ask Congress for $500 million to train and equip vetted elements of the Syrian armed opposition signals a potential turning point in U.S. policy in the Middle East.… Keep reading →
Marathon oil is selling its Norwegian North Sea assets for $2.1 billion as it restructures to focus on US shale developments. “Det Norske, half owned by Aker, an oil services company majority-owned by Norwegian billionaire Kjell Inge Røkke, will increase its production 20-fold and become one of the biggest independent companies operating in the Norwegian part… Keep reading →
Given Moscow’s potential ability to undermine Iran diplomacy, Washington has yet another compelling reason to reestablish faith in — and fear of — America’s willingness to use military strength. Russian deputy foreign minister Sergey Ryabkov generated considerable commentary last week when he threatened potential “retaliatory measures” on the Iranian nuclear file if Washington pressures Moscow… Keep reading →
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 →
The withdrawal of several ambassadors from Qatar is a setback to U.S. diplomacy with Gulf allies and another item for President Obama’s upcoming meeting with the Saudi king. Earlier today, Saudi Arabia, Bahrain, and the United Arab Emirates recalled their ambassadors from Qatar, choosing a high-visibility tactic to emphasize long-simmering tensions within the Gulf Cooperation… Keep reading →
Iran has the world’s largest proven natural gas reserves (second largest depending on the data source) – 18% of the world total – but has struggled to get its export program off the ground. Iran exports gas to Turkey via pipeline – 7.5 Bcm in 2012 – and negligible volumes to Azerbaijan and Armenia, also… Keep reading →
US oil-directed drilling rigs reached 1,443 last week, which is the highest level recorded since Baker Hughes separated its oil and gas rig counts in 1987. “One could argue that all of the increase in the oil rig count this week was because of the Permian,” James Williams, president of WTRG Economics in London, Arkansas,… Keep reading →
