Russia Claims Ukraine’s Black Sea Oil And Gas Bounty

Russia’s annexation of Crimea has totally upended Kiev’s plans for Black Sea and Sea of Azov offshore oil and natural gas production. Before the peninsula’s March 16 independence referendum, followed two days later by Russian annexation, Ukraine’s state-owned Chornomornaftogaz (“Chernomorneftegaz” in Russian) owned 17 hydrocarbon fields, including 11 natural gas fields, four gas condensate fields, and two […]

Iran Tears Up Azadegan Contact With China

China — one of the few countries to invest in Iran despite international sanctions against it over its nuclear program — has had its contract to develop Iran’s Azadegan oil field terminated. On April 29, the National Iranian Oil Co.’s legal department informed state-run China National Petroleum Corporation (CNPC), China’s biggest oil and natural gas […]

Abe Government Moves Toward Upgrading Japan’s Nuclear Facilities

Three years after the nuclear catastrophe that struck TEPCO’s Fukushima complex, the Japanese government of Prime Minister Shinzuo Abe is slowly sidling back towards restarting Japan’s idled NPPs. On 25 February Abe announced Japan’s new Basic Energy Plan, which sees nuclear power as an important base load energy source and overturns a promise made by […]

Scottish Nationalist Dreams Undercut by Low Oil Prices

Sobering figures about Scotland’s economy are emerging as the country prepares for its upcoming referendum on independence, scheduled for 18 September 2014. Briefly put, the British and Scottish governments spent over £65 billion north of the Border in 2012-13, buttaxes raised just £53 billion. Scotland’s deficit – the difference between spending and taxes raised north of […]

Gazprom Threatens to Disrupt Gas Supplies to Europe

As U.S. Secretary of State John Kerry and European Union leaders threaten that harsh economic sanctions could be imposed on Russia for its intervention in Ukraine, Russian state-controlled natural gas giant Gazprom has threatened to disrupt gas supplies to Europe, turning the Ukraine crisis into a possible trade war. “Simmering political tensions in Ukraine, that […]

Gazprom’s Next Acquisition: Algeria?

Russia’s oil and natural gas state monopoly Gazprom has been offered joint venture exploration projects in Algeria, the first foreign company to be invited to work in the country. The offer was discussed at a meeting between Gazprom officials and the Algerian government earlier last week. Gazprom will participate in an international tender for the […]

Nigeria Mulls $20 Billion Trans-Saharan Natural Gas Project

Nigeria, already black Africa’s largest oil exporter, is thinking big, about exporting natural gas to Europe and thereby undercutting Brussels’ unhappy dependence on natgas exports from the Russian Federation. According to the authoritative U.S. government’s Energy Information Administration, “Nigeria is the largest oil producer in Africa and was the world’s fourth leading exporter of liquefied natural […]

Norway’s Oil Fund Makes Every Norwegian a Kroner Millionaire

While oil and graft frequently go hand in hand, such is not the case in Norway, where on 6 January the country’s Government Pension Fund – Global, more commonly referred to as the Oljefondet, throughcareful investment has made every Norwegian a millionaire in the country’s currency, the kroner. Norway’s success with its Oljefondet stands in stark […]

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