International Energy Agency executive director Fatih Birol says the fossil fuel industry will only alter practices if governments show they are serious about stifling global warming. “The world needs a “peaceful divorce” between economic growth and the rise in greenhouse gas emissions, one of the world’s leading energy economists has said – but this will… Keep reading →
Despite the ongoing Ukraine crisis, a plethora of Western sanctions and a plummeting currency, amazingly Russian energy sector returns have risen by about 22 percent. “No other country comes close. Canada, another oil- and gas-heavy nation, has seen industry equity returns rise by just 1.8 percent this year, while the MSCI USA Index is up… Keep reading →
In an overt admission that western-led sanctions agasint Russia’s energy sector are impacting offshore resource development, the country’s top state-controlled oil & gas enterprises are pushing for legislative changes meant to entice western companies – and their technology – into the sector. The proposed subsoil legislation modifications would apparently allow foreign companies to take expanded… Keep reading →
It appears confirmed that a Russian surface-to-air missile fired by Ukrainian separatists loyal to the Kremlin took down a Malaysian passenger jet over Eastern Ukraine yesterday. If it is in fact confirmed the Putin regime supplied the weapon, “there will be serious diplomatic consequences,” Kenneth Yalowitz, a retired senior US diplomat who served several tours… Keep reading →
Some banks are sticking it out in commodities as several others exit the business amid onerous regulations and decreasing profitability. The banks that stick around – including Goldman Sachs – face less competition. [Bloomberg] Putin feels emboldened by the fact that major western oil companies remain committed to Russia despite the current souring of relations… Keep reading →
President Obama upped the ante yesterday in the burgeoning trade war with Russia over the annexation of Crimea from Ukraine when he announced an executive order that authorized sanctioning Russian economic sectors. The first round of sanctions targeted individual Russian officials, but now enterprises involved in Russia’s energy sector – including banks, trading houses and… Keep reading →
