Showing posts tagged as "oil"

Showing posts tagged oil

14 Aug
Exxon Ends Oil Search With Total in South Sudan as War Rages | Ilya Gridneff 
Exxon Mobil Corp. (XOM:US), the U.S.’s largest oil company, ended exploration plans with Total SA (FP) in South Sudan, Total and the government said, a sign of faltering investor confidence in the African nation as a civil war enters its eighth month.
Exxon in April didn’t renew an agreement with Total to negotiate for joint-exploration over parts of a 120,000 square-kilometer (46,300 square-mile) concession in Jonglei state, Total spokeswoman Anastasia Zhivulina said in an Aug. 12 e-mailed response to questions. Total is still bidding to explore in partnership with Kuwait’s state-owned Kuwait Foreign Exploration Petroleum Co. she said. Exxon spokesman Patrick McGinn said by e-mail that the company doesn’t comment on specific ventures.
“Losing the American oil company’s interest is definitely a blow for the future prospects of South Sudan’s oil industry,” Luke Patey, a researcher on the country’s industry at the Danish Institute for International Studies, said in an e-mailed response to questions. Exxon could re-enter South Sudan when security improves, he said.
FULL ARTICLE (Bloomberg Businessweek)
Photo: ENOUGH Project/flickr

Exxon Ends Oil Search With Total in South Sudan as War Rages | Ilya Gridneff 

Exxon Mobil Corp. (XOM:US), the U.S.’s largest oil company, ended exploration plans with Total SA (FP) in South Sudan, Total and the government said, a sign of faltering investor confidence in the African nation as a civil war enters its eighth month.

Exxon in April didn’t renew an agreement with Total to negotiate for joint-exploration over parts of a 120,000 square-kilometer (46,300 square-mile) concession in Jonglei state, Total spokeswoman Anastasia Zhivulina said in an Aug. 12 e-mailed response to questions. Total is still bidding to explore in partnership with Kuwait’s state-owned Kuwait Foreign Exploration Petroleum Co. she said. Exxon spokesman Patrick McGinn said by e-mail that the company doesn’t comment on specific ventures.

“Losing the American oil company’s interest is definitely a blow for the future prospects of South Sudan’s oil industry,” Luke Patey, a researcher on the country’s industry at the Danish Institute for International Studies, said in an e-mailed response to questions. Exxon could re-enter South Sudan when security improves, he said.

FULL ARTICLE (Bloomberg Businessweek)

Photo: ENOUGH Project/flickr

19 May
Oil fans flames of South Sudan War | AFP
Conflict over oil in South Sudan is prolonging a war predicted to spiral into famine if fighting does not end and risks dragging in regional nations, analysts warn.
Despite heavy international pressure, a second cease-fire this month for the world’s youngest nation has crumbled, in a war that has already claimed thousands — possibly tens of thousands — of lives. With the war entering its sixth month, oil fields that once generated hundreds of millions of dollars providing 98 percent of government revenue are “key strategic objectives,” the International Crisis Group (ICG) said.
“There are clear and mutually reinforcing military and political reasons for the parties to continue fighting,” the ICG’s Casie Copeland and Jerome Tubiana said in a report. “Both sides believe they can capture or retake territory, including key towns and oil installations, and thereby strengthen their negotiating positions.” Less than three years old, grossly underdeveloped South Sudan was the most oil-dependent nation in the world at independence. “Oil is a significant driver of the conflict,” said Emma Vickers of Global Witness, a campaign group focusing on resource conflicts.
FULL ARTICLE (Agence France-Presse)
Photo: United Nations Photo/flickr

Oil fans flames of South Sudan War | AFP

Conflict over oil in South Sudan is prolonging a war predicted to spiral into famine if fighting does not end and risks dragging in regional nations, analysts warn.

Despite heavy international pressure, a second cease-fire this month for the world’s youngest nation has crumbled, in a war that has already claimed thousands — possibly tens of thousands — of lives. With the war entering its sixth month, oil fields that once generated hundreds of millions of dollars providing 98 percent of government revenue are “key strategic objectives,” the International Crisis Group (ICG) said.

“There are clear and mutually reinforcing military and political reasons for the parties to continue fighting,” the ICG’s Casie Copeland and Jerome Tubiana said in a report. “Both sides believe they can capture or retake territory, including key towns and oil installations, and thereby strengthen their negotiating positions.” Less than three years old, grossly underdeveloped South Sudan was the most oil-dependent nation in the world at independence. “Oil is a significant driver of the conflict,” said Emma Vickers of Global Witness, a campaign group focusing on resource conflicts.

FULL ARTICLE (Agence France-Presse)

Photo: United Nations Photo/flickr

27 Sep
Unwinding of Iran sanctions would prove difficult | Gary Gentile
Hope that Iran and the US might be closer to resolving the dispute over Iran’s nuclear program have led some to ask how quickly sanctions that have choked off Iran’s ability to sell crude, access financial systems, and repatriate money it earns from global oil sales could end.
But analysts point out that the tangled web of US and international sanctions against Iran would be difficult to unwind even if Western nations wanted to provide incentives or reward Iran’s new regime for concessions regarding its nuclear program.
FULL ARTICLE (Platts) 
Photo: danwalker90/Flickr

Unwinding of Iran sanctions would prove difficult | Gary Gentile

Hope that Iran and the US might be closer to resolving the dispute over Iran’s nuclear program have led some to ask how quickly sanctions that have choked off Iran’s ability to sell crude, access financial systems, and repatriate money it earns from global oil sales could end.

But analysts point out that the tangled web of US and international sanctions against Iran would be difficult to unwind even if Western nations wanted to provide incentives or reward Iran’s new regime for concessions regarding its nuclear program.

FULL ARTICLE (Platts) 

Photo: danwalker90/Flickr

12 Sep
“[Kazakhstan] has found that China is an easier economic partner and has more cash,” said Deirdre Tynan, Central Asia project director of the International Crisis Group. “China is able to step in and provide massive loans without strings attached.”
nytimes.com

“[Kazakhstan] has found that China is an easier economic partner and has more cash,” said Deirdre Tynan, Central Asia project director of the International Crisis Group. “China is able to step in and provide massive loans without strings attached.”

nytimes.com

15 Nov
Iraqi Kurdistan Pushes Limits on Oil, Autonomy | Voice of America
By Mark Snowiss
With Kurds asserting themselves throughout the Middle East, Iraq’s semi-autonomous Kurdish region has stepped up its profile on the world’s oil scene.
A series of recent petroleum deals signals a direct challenge to Baghdad’s claim of total control over the country’s oil exports and a possible step by the Kurds toward their longstanding aspirations for increased autonomy, or outright independence.
Within the last few months, Iraq’s Kurdistan Regional Government, or KRG, has begun construction on a major international oil and gas pipeline project with neighboring Turkey that would allow the Kurds direct access to world markets via the Mediterranean.
FULL ARTICLE (Voice of America)
Photo: jan Sefti/Flickr

Iraqi Kurdistan Pushes Limits on Oil, Autonomy | Voice of America

By Mark Snowiss

With Kurds asserting themselves throughout the Middle East, Iraq’s semi-autonomous Kurdish region has stepped up its profile on the world’s oil scene.

A series of recent petroleum deals signals a direct challenge to Baghdad’s claim of total control over the country’s oil exports and a possible step by the Kurds toward their longstanding aspirations for increased autonomy, or outright independence.

Within the last few months, Iraq’s Kurdistan Regional Government, or KRG, has begun construction on a major international oil and gas pipeline project with neighboring Turkey that would allow the Kurds direct access to world markets via the Mediterranean.

FULL ARTICLE (Voice of America)

Photo: jan Sefti/Flickr

12 Sep
"التصالح بين حكومة المالكي والأكراد وإقامة علاقات ودية بينهما أمر غير مرجح، وإن أي اتفاق جديد سيكون مجرد وسيلة مؤقتة لتلبية احتياجاتهم الحالية فقط"

—Joost Hiltermann, Crisis Group’s MENA Deputy Program Director, on developments in Kurdistan’s oil industry and their impact on Kurdistan’s relationship with the Iraqi central government, in “Iraq’s Oil Battle”, Asharq Alawsat

(Source: crisisgroup.org)

6 Sep
New Algeria govt faces ‘massive’ challenges | AFP
ALGIERS — After months of political inertia, Algeria’s newly appointed cabinet faces a raft of social problems, including joblessness, poor housing and ongoing water cuts, which threaten to aggravate simmering discontent.
FULL ARTICLE (AFP)
Photo: Magharebia/Flickr

New Algeria govt faces ‘massive’ challenges | AFP

ALGIERS — After months of political inertia, Algeria’s newly appointed cabinet faces a raft of social problems, including joblessness, poor housing and ongoing water cuts, which threaten to aggravate simmering discontent.

FULL ARTICLE (AFP)

Photo: Magharebia/Flickr

29 Aug
Survey Shows Lake Tanganyika’s Oil ‘Potential’ in Tanzania | Voice of America
By Nick Long
An Australian company exploring for oil on the Tanzanian side of Lake Tanganyika says it may target potential areas for drilling in about six months’ time.  The company, Beach Energy, says the lake has the potential for large discoveries and there are clear signs of a working petroleum system on the Congolese side. 
FULL ARTICLE (VOA)
Photo: Worldtraveller/Wikimedia Commons

Survey Shows Lake Tanganyika’s Oil ‘Potential’ in Tanzania | Voice of America

By Nick Long

An Australian company exploring for oil on the Tanzanian side of Lake Tanganyika says it may target potential areas for drilling in about six months’ time.  The company, Beach Energy, says the lake has the potential for large discoveries and there are clear signs of a working petroleum system on the Congolese side. 

FULL ARTICLE (VOA)

Photo: Worldtraveller/Wikimedia Commons

3 Aug
Analysis - China unveils oil offensive in South China Sea squabble  |  Swissinfo.ch
By Randy Fabi and Chen Aizhu / REUTERS
SINGAPORE/BEIJING - First came the diplomatic offensive, then the flexing of military muscle.
Now, China is opening a third front to assert its claims in the South China Sea - moving ahead with its first major tender of oil and gas blocks in disputed parts of its waters.
FULL ARTICLE (Swissinfo.ch)
Photo: U.S. Navy Photo/Flickr

Analysis - China unveils oil offensive in South China Sea squabble  |  Swissinfo.ch

By Randy Fabi and Chen Aizhu / REUTERS

SINGAPORE/BEIJING - First came the diplomatic offensive, then the flexing of military muscle.

Now, China is opening a third front to assert its claims in the South China Sea - moving ahead with its first major tender of oil and gas blocks in disputed parts of its waters.

FULL ARTICLE (Swissinfo.ch)

Photo: U.S. Navy Photo/Flickr

11 Jul
"In a context of massive poverty, a weak state, poor governance and regional insecurity, an oil rush will have a strong destabilising effect unless the government adopts several significant steps regionally and nationally to avert such a devastating scenario."

Black Gold in the Congo: Threat to Stability or Development Opportunity?