OPEC’s Demise, Still Exaggerated
Many observers conclude OPEC is dead. Oh, there have been claims of its demise before, but after the oil cartel failed to provide a quota (output goal) in last week’s statement, the claim has new life.
Category: Energy
Oil Prices Unlikely to Rise as Major Producers Dismiss Production Cuts
As the recent summit of the Organization of the Petroleum Exporting Countries (OPEC) suggests, they will not lower the oil production ceiling, despite great overcapacity. What we are witnessing is not just a cyclical shift, but a new secular tend that heralds the demise of the petrodollar era in the Middle East.
Meltdown of oil prices
Regional Economic Cooperation Creates the TAPI Pipeline
The Turkmenistan–Afghanistan–Pakistan–India (TAPI) gas pipeline project was first conceived in October 1997 by Central Asia Gas Pipeline Limited (CentGas). Almost 18 years later, the pipeline—often dubbed as the “on/off pipeline,” the “pipeline dream,” and the “peace pipeline”—although still on the drawing board is inching closer to reality.
ISIS Oilfield Attacks May Be Inevitable
There has been some revealing new information coming out recently regarding the strategy against ISIS. One aspect many find troubling is the apparent failure of U.S. and coalition forces to sufficiently target and destroy oil infrastructure located in ISIS territory, which accounts for a significant portion of the terror group’s annual income.
The Big Business of Climate Change
The 21st meeting of the Conference of the Parties (or COP21) is underway, with the goal of hammering out a deal to reduce global carbon emissions top of the agenda. As well as leaders from 147 countries, there are a number of CEOs and senior managers of the world’s biggest corporations, industry associations and trade policymakers are present among the 50,000 attendees.
The Doom and Gloominess Orbiting the Energy Sector
As the terrorist attack in Paris sparks worldwide fear of similar reprisals and a bloody shootout and hostage situation in a five-star Mali hotel exacerbates those concerns, global energy security reels under the pressure of unfathomable geopolitics. In an exclusive interview with Oilprice.com, Robert Bensh—managing director and partner at Pelicourt, a Western-owned oil and gas company navigating tricky conflict zones—discusses:
• The terrorist threat to global energy security
• What ISIS is really after
Trouble in Texas
Crude oil just capped off a third straight week of declines, as WTI nears the $40 per barrel threshold. Goldman Sachs is once again raising the possibility of oil dipping into the $20s per barrel. That spells more pain for the energy sector. Many companies have already slashed spending and culled their payrolls, but the total number of job losses continues to climb.
According to Graves & Co., an industry consultant, oil and gas companies have laid off more than 250,000 orkers around the world, a tally that will rise if oil prices remain in the dumps.
Kicking the Coal Habit in the U.K.
For those watching the UK energy sector, barely a week has gone by of late without some kind of drama. A third of the nation’s coal power stations breaking down, subsidies cut for renewables but available for diesel generators, and a leaked letter suggesting missing renewable targets. This has led to much criticism at home and abroad.
Energy for a Stronger East Asia Summit (EAS) Region
Sustained population and economic growth have almost doubled both primary and final energy demand in the East Asia Summit (EAS) region. This rising energy demand is posing an increasing threat to energy security.
Examination of potential energy saving is key to reducing energy demand and carbon dioxide (CO2) emissions, and findings can shed light on policy implications for decision making to ensure the region can enjoy economic growth without compromising energy security or causing environmental problems.
Can Saudi Arabia Outlast Russia in the Oil Game?
Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn.
