This tag is associated with 27 posts

“Supergiant” Gas Field Could Transform Egypt’s Energy Industry

By David Wille The discovery of a massive natural gas field could take pressure off of Egyptians suffering from a historic energy crisis. But the find throws into question a pending deal with Israeli companies to import gas and takes pressure off the Egyptian government for much-needed reforms. On August 30, Italian energy giant Eni … Continue reading

Market Meltdown Means More Pain For Oil-Producing Economies

By Zachary Fillingham Supply-side downward price pressure has been the story of global energy prices over the past year: newfound supply from the Shale Revolution, OPEC’s gambit of market-share grabbing inundation, and new supply coming online from Iraq and soon Iran. The result was a plunge in oil prices from $115 in mid-June 2014 to below … Continue reading

In Russia, The Auto Industry Is In A Tailspin

By Daniel Schearf Russia’s auto industry appears to be in reverse along with the contracting economy and sliding ruble. At the opening of the International Moscow Automotive Forum this week, a Russian business association representative spoke openly about the crisis facing industry leaders, his concern echoing industry insiders who say the country relies too heavily on … Continue reading

Will Sisi Succeed In Tackling Egypt’s Subsidies?

By David Wille To make Egypt a more attractive home for investment, President Sisi made tackling unsustainable food and energy subsidies a top priority. A year later, it is still unclear whether Sisi’s government can follow through on reforms that have stymied leaders for decades. As Egypt’s leaders struggle to bring the country’s finances under … Continue reading

UAE Hikes Gas Prices By 24% As It Halts Subsidies Amid Oil Bear Market

The United Arab Emirates (UAE), the second-largest Arab economy and OPEC’s third largest oil producer, will hike unleaded gasoline prices by 24 percent in August as it becomes the first country in the oil-rich Persian Gulf to remove subsidies, the UAE’s official WAM news agency reported on Tuesday. Drivers in the UAE will now pay 2.14 dirhams per liter … Continue reading

How Will Low Oil Prices Affect Global Growth?

By Marc Stocker The impact of falling oil prices is becoming increasingly visible, but the global economy is yet to hit a nice stride – oil exporters face severe headwinds, oil-importing China continues to slow, other large oil-importing countries have seen mixed developments since the start of 2015, and financial market volatility has increased. Are … Continue reading

Malaysia Planning More Fuel Subsidy Cuts Amid Scandal Which Raises Policy Risk

Malaysia is planning to cut more government fuel subsidies and move billions of dollars in government employee housing loans off its balance sheets to shore up its fiscal position, in the face of a growing scandal that is threatening Prime Minister Najib Razak’s ability to execute potentially unpopular policies, Bloomberg reported on Monday night. The Malaysian government will … Continue reading

Flying Blind: Gulf Subsidies Debate Ignores Regional Realities

By Francis Wilson The ongoing debate over the fairness and transparency of state-owned enterprises (SOEs) in the Middle East intensified in March when three of America’s largest airlines entered the fray. In a 55 page white paper released to the public in April, American, Delta, and United attacked what they believed to be the unfair business … Continue reading

Nigeria Faces Another Crisis As Govt Faces “Severe Financial Strain” With “Empty Treasury” To Pay For Fuel Subsidies

Nigeria is likely to be hit by fuel shortages in the approaching weeks as government funds run low and they won’t be able to support payments for gasoline subsidies, Bloomberg reports, citing the head of Seplat Petroleum Development. “In three weeks we will be back to scarcity because we simply don’t have the money to … Continue reading

Major Oilfield Discovered In Bolivia; Could Triple Country’s Oil Reserves

A major oilfield has been discovered in Bolivia which holds up to 28 million barrels of crude and will triple the country’s oil reserves and bring nearly $1.7 billion into the state coffers, Venezuela’s teleSUR news agency reports. The new oilfield — the Boqueron 4 oilfield, located in the Western province of Santa Cruz — is the first new oil discovery in … Continue reading

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