Category: Middle East

Blast hits Iran refinery as Ahmadinejad visits

An explosion blamed on a gas leak rocked Iran’s largest refinery on Tuesday around the time of a visit to the plant by President Mahmoud Ahmadinejad. Iranian media reported that at least two people were killed in the blast.  More »

Saudis face up to end of ‘easy oil’

As demand for energy grows and fields of easy-to-drill oil around the world start to dry up, Saudi Arabia is turning to a much tougher source: the billions of barrels of heavy oil trapped beneath the desert. (Via WSJ)  More »

U.S. expands defense ties with Saudis to protect oil supply

The effort is being led by a little-known project to develop an elite force to protect Saudi Arabia’s oil riches and future nuclear sites. The security force is expected to grow to 35,000 members, trained and equipped by the U.S.  More »

My thoughts on the ‘global gas wars’

I’m a little late in posting this link, but last week I taped an interesting discussion with Michael Fjetland for his Global American radio program. It airs Saturdays on 1110 AM in Houston, but you can listen to the podcast from his website. It’s the program that aired May 14, titled “Global Gas Wars.” “Gas” [...]  More »

Iran’s Ahmadinejad to run oil ministry after restructuring

Two days ago, the Iranian president dismissed Oil Minister Masoud Mir-Kazemi, Industry and Mines MinisterAli Akbar Mehrabian, and Welfare Minister Sadegh Mahsouli as part of a plan to improve government efficiency and reduce the number of ministries to 17 from 21 by 2015.  More »

Noble’s Leviathan suffers a setback off Israeli coast

Water flowing outside the wellhead of an appraisal well in the deep waters of the Mediterranion have Houston-based Noble abandoning the well for another site.  More »

Libya’s oil giant turns off the pump until the fighting stops

Libya’s biggest petroleum company says it will not produce oil until the war ends, and that probably applies to the entire country. The decision came after rocket attacks April 4 badly damaged a pumping station and production facilities.  More »

In Libya’s once gilded economy, a pause

Hundreds of thousands of foreign workers, once the backbone of the economy, have fled. International sanctions have dried up oil export revenues, and gas stations have become battle grounds, with soldiers guarding the pumps and motorists waiting for days for their turn to fill up.  More »

Arab oil producers say investment plans unaffected by MENA turmoil

The investment-banking arm of the Organization of Arab Petroleum Exporting Countries said recent unrest in the Middle East and the North Africa won’t affect its plans to double outlays to about $700 million by 2014.  More »

Is Speculation The Reason For High Oil and Gasoline Prices?

By EconMatters WTI (West Texas Intermediate) Crude Oil futures traded at its lowest in almost two months in New York on Thursday, May 5 in its biggest selloff in two years, plunging 8.6% on the day to below the $100 mark (Fig. 1).  Brent crude on ICE also dropped as much as $12.17, or 10%, which […]  More »

Oil settles lower on bin Laden’s death, stronger dollar *updated*

“It’s kind of a see-saw effect,” said Michael Lynch, president of Strategic Energy & Economic Research. “There will be a fear, I think, in the short-term in the markets that something might happen in the next week or two. I do think in the longer term, it suggests likely more stability in the Middle East.”  More »

Al-Qaeda, Oil and Summer Air Conditioning

May 1, 2011 marks the death of Osama Bin Laden and hopefully the continued demise of Al-Qaeda and its attacks on innocent Muslims and Americans alike. Since oil is one of the major resources of the Arab world, it is not surprising that oil did not escape the attention of Bin Laden, who was born […]  More »
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