By Jill Shankleman One in five African states produce hydrocarbons, and most of these are heavily dependent on oil and gas revenues to finance their governments and generate foreign exchange. Further, an emerging group of East African states are waiting on international oil companies to develop new oil and gas reserves. But Africa’s record using … Continue reading
Cutting-edge research from British universities has confirmed a belief long held by conspiracy theorists, realists and hawkish neoconservatives alike: oil drives foreign intervention and war. Foreign governments are 100 times more likely to intervene in civil wars if the troubled state is home to hydrocarbon reserves, according to a new report by academics from the … Continue reading
By William Camacaro and Frederick B. Mills Introduction: A Decisive Battle is at Hand In a speech outside the Miraflores palace on January 17, 2015, upon his return from a twelve day trip abroad, President of the Bolivarian Republic of Venezuela Nicolas Maduro Moros addressed an expectant crowd of well wishers. Seizing the moment in … Continue reading
Plunging oil prices, even as low as $30 per barrel, won’t offset the world’s largest-listed oil company, Rosneft’s investment and development plans, according to the company’s VP. “The company can weather $30 per barrel prices, but problems with the Russian budget will arise,” Rosneft Vice president Viktor Ishayev told reporters at a press conference in Khabarovsk. … Continue reading
By BNE Russia plans to build a giant liquefied natural gas (LNG) terminal on its Baltic coast that could disrupt efforts to construct a pan-regional facility to serve Latvia, Lithuania and Estonia. Russian gas giant Gazprom said on January 22 that it will build an LNG terminal at the sea port of Ust-Luga. The facility is planned to be capable of … Continue reading
Loretta Napoleoni: Little will change after death of King Abdullah, but the Saudis cannot sustain low oil prices for much longer; they have lost control of ISIS; and their big fear is revolution. . Video: An interview with Loretta Napoleoni, an Italian journalist and political analyst whom is an expert on the financing of terrorism and is known … Continue reading
By IMF Even with the sharp oil price decline—a net positive for global growth—world economic outlook is still subdued, weighed down by underlying weakness elsewhere, says the IMF’s latest WEO Update. Global growth is forecast to rise moderately in 2015–16, from 3.3 percent in 2014 to 3.5 percent in 2015 and 3.7 percent in 2016 … Continue reading
By Sputnik Iran has repeatedly – and yet unsuccessfully – asked Saudi Arabia to trim its oil production this month so that Tehran could make some cash on higher crude prices. Iranian authorities have repeatedly requested Saudi Arabia to lead the effort to stabilize the global price of crude oil in order to aid the oil-dependent economies of the region, including the … Continue reading
By Thuy T. Do Vietnam’s diplomacy saw many successes in 2014, but also faced many challenges. In early May, the country saw the worst maritime tension with China since their 1988 naval clashes in the South China Sea (SCS). The placement of China’s oil rig in Vietnam’s claimed exclusive economic zone and the tense vessel … Continue reading
By Eric Toussaint Debt Euphoria In 2014, Rwanda and Ethiopia, two of the world’s poorest countries, sold public debt bonds on the financial markets of the most industrialized countries. While still unstable after civil wars and with debt payments suspended hardly three years ago, the Ivory Coast also managed to find private lenders willing to buy … Continue reading