Category: Middle East

OPEC plows billions in profits into quieting the Arab masses

Saudi Arabia will spend $43 billion on its poorer citizens and religious institutions. Kuwaitis are getting free food for a year. Civil servants in Algeria received a 34 percent pay rise. Desert cities in the United Arab Emirates may soon enjoy uninterrupted electricity.  More »

Report says we have more oil than we thought

A new report that predictably found huge potential natural gas supplies in the U.S. also contained news its own writers found surprising – that oil is more abundant than they thought.  More »

Iran’s first nuclear plant goes online

Iran’s first nuclear power plant stepped up operations today after more than a decade of delays, pumping out electricity at up to 40 percent capacity and marking a major step forward in the Islamic Republic’s nuclear program.  More »

Hayward to spark oil fight in Iraqi ‘last great frontier’

Tony Hayward’s $2.1 billion deal for oil assets in Iraq’s Kurdistan region may spark a battle for resources from the area as its export prospects brighten.  More »

Former BP CEO Hayward will net $23 million in Vallares-Genel merger

Vallares Plc, the investment vehicle led by BP Plc’s former Chief Executive Officer Tony Hayward, will merge with Turkey’s Genel Energy International Ltd. in a $2.1 billion deal to gain oil fields in Iraq’s Kurdistan region.  More »

Libya assets unfrozen to pay Vitol $300 million fuel bill

The U.S. planned to release $300 million of frozen Libyan assets today to Geneva-based oil trader Vitol Group for fuel provided to the rebels who ousted Muammar Qaddafi.  More »

Solar Feedstock: Does the Middle East Have What It Takes?

This post was written by Keily Miller, Research Associate at the Baker Institute Energy Forum. Last week’s decision by Evergreen Solar to file for bankruptcy shakes more than just the shareholders. The latest among a surge of bankruptcies and plunges in profits of solar industry heavyweights such as First Solar and SunPower, Evergreen Solar’s rapid […]  More »

Oil firms unsure when they’ll return to Libya

Oil companies with activities in Libya said Monday it is too early to predict how quickly they can return to work in the war-torn nation following the invasion of Tripoli and apparent overthrow of Moammar Gadhafi by rebel forces over the weekend.  More »

America’s Resource Renaissance

American oil industry leadership groups such as the National Petroleum Council and the American Petroleum Institute have been meeting in recent months to fashion new frameworks for the industry to ensure best practices for oil and natural gas drilling. That’s the good news. The bad news is that the task at hand is proving highly […]  More »

‘Too early’ for OPEC to consider oil output cut, IEF says

It’s “too early” for OPEC countries to consider cutting oil output, even as prices tumbled below $100 a barrel this week, according to Noe van Hulst, secretary general of the International Energy Forum.  More »

Syria: To Sanction or Not To Sanction?

This post was written by Keily Miller, Research Associate at the Baker Institute Energy Forum. In response to the ongoing violence plaguing Syrian cities, the Obama administration is toying with a new plan to sanction Syria’s oil and gas industry. The plan rests on two assumptions: first, that sanctioning Syria’s energy industry sector will wreak […]  More »

OPEC cuts oil demand forecast for 2011, 2012 as growth slips

The Organization of Petroleum Exporting Countries cut its oil demand forecasts for 2011 and next year as the global economic recovery loses momentum.  More »
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