As U.S. shale and Canadian oil sands companies continued to pump out crude, Saudi Arabia let its taps flow and the subsequent plunge in the oil price threw a wrench in their rivals production plans In the high-stakes contest between the United States, the biggest shale oil producer, and Saudi Arabia, the biggest oil exporter, America has blinked first. The OPEC refusal to cut
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Based on territorial gains in Syria and Iraq by the Islamic State of Iraq and Al-Sham (ISIS), the recent declaration of an Islamic State (Khilafah) has laid to waste President Obama's claim that the US (having withdrawn military forces from Iraq in 2011) left behind "a sovereign, stable and self-reliant Iraq." This was evidenced by a recent statement he gave to CBS news that IS
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Report sees large disparities in regional energy prices affecting industrial competitiveness 12 November 2013 Technology and high prices are opening up new oil resources, but this does not mean the world is on the verge of an era of oil abundance, according to the International Energy Agency’s (IEA) 2013 edition of the World Energy Outlook (WEO-2013). Although rising oil o
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Abstract Oil price volatility has always created pressure upon both developed and emerging economies. High oil prices have been blamed for economic downturns in the global economy. Oil producers have suffered widely fluctuating incomes. Price volatility has worsened since 2000 for a variety of factors such as geopolitics, speculation, terrorism, natural disasters, revolutions,
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Download now Petroleum Economist - International Conference, LNG 17 , Houston April 2013 Iran’s threat to close the Strait of Hormuz in response to international sanctions over its nuclear programme is not grabbing the headlines as it was in 2012. But this is an issue that is far from being resolved, writes Luay J Al-Khatteeb of the Iraq Energy Institute.....To
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