Russian President Vladimir Putin is being pushed “further into a corner” by falling oil prices, leaving him little option but to continue his aggression toward Ukraine and confrontation with the West, Eurasia Group President Ian Bremmer told CNBC on Tuesday. Putin has “gone all-in on an anti-U.S., must-keep-Ukraine nationalist engagement,” Bremmer said on “Squawk Box.” […]
Iraq Government and Kurds Reach Deal to Fight ISIS
In a far-reaching deal with the potential to unite Iraq in the face of a Sunni insurgency, the government of Prime Minister Haider al-Abadi agreed on Tuesday to a long-term pact with the autonomous Kurdish region over how to divide the country’s oil wealth and cooperate on fighting the extremists of the Islamic State. The […]
New sanctions: Iran won’t be paid in cash for its oil
Ever since European seaports closed their gates to Iranian oil tankers last summer, Iran has looked to the East to keep its economy afloat. Countries such as China, India and South Korea — some of them critics of Western sanctions — have offered Iran a lifeline of reliable markets and much-needed dollars.
British companies to search for Lebanon’s offshore oil and gas?
British companies could soon be involved in the search for oil and gas off Lebanon’s shores. At least that’s the hope of the UK government who are asking British companies to register an interest in searching for oil and gas in Lebanon’s exclusive economic zone (EEZ). They have until the end of February 2013 to […]
Cyprus, Lebanon agree to boost oil, gas cooperation
Cyprus and Lebanon agreed to boost cooperation and look into ways to explore gas and oil in their waters, President Michel Sleiman said Thursday. “We have given the issue of the gas and oil available in our water top priority and agreed to increase cooperation to agree on principles and sound means that would allow […]
U.S. expected to surpass Saudi crude production by 2020
The growing role of the U.S. as a major energy producer is changing the dynamic of the energy market. U.S. oil production continues to accelerate at a surprising rate, and the government now predicts the U.S. industry could pump 14 percent more oil this year alone
Cyprus, Lebanon to discuss oil/ gas cooperation
Cyprus President Demetris Christofias will pay an official visit to Lebanon on Thursday to discuss the prospect of cooperation in the exploitation of offshore oil and gas. Christofias will hold talks with Lebanon President Michel Suleiman “to review economic issues and growth prospects
Oil may be behind renewed tension over the Falklands
More than 30 years after Argentina’s unsuccessful invasion of the Falkland Islands, a fresh war of words has broken out over the sovereignty of the British territory, a rocky archipelago about 8,000 miles from London but harboring outsize importance to both countries. The latest bout of controversy erupted after Argentine President Cristina Fernandez de Kirchner
Millions of Saudi’s below poverty line, report
A few miles from the blinged-out shopping malls of Saudi Arabia’s capital, Souad al-Shamir lives in a concrete house in a trash-strewn alley, with no job, no money, five children younger than 14 and an unemployed husband who is laid up with chronic heart problems. “We are at the bottom,” she said,
US to overtake Saudi Arabia as world’s top oil producer: IEA
The United States will overtake Saudi Arabia as the world’s top oil producer by 2017, the West’s energy agency said on Monday as a steep rise in shale oil and gas production pushes the country toward self-sufficiency in energy.