Tehran is considering extending an oil embargo on France and Britain to other European countries, a semiofficial Iranian news agency reported Monday. More »
This post was written by Keily Miller, Research Associate at the Baker Institute Energy Forum. Saudi Oil Minister Ali Al-Naimi’s statement in mid-January that $100 constitutes a “fair” price for a barrel of crude appears to have been met with uncharacteristic agreement across OPEC member states. In an interview with Austrian newspaper Kurier at the […] More »
Iran has halted oil shipments to Britain and France, the Oil Ministry said Sunday, in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iran’s crucial fuel exports.
Traders are bidding up crude by as much as 15 percent on the assumption that conflict with Iran will lead to the biggest disruption to Gulf oil supplies since 1991. Analysts from Bank of America Corp. to IHS Jane’s say those concerns are exaggerated. More »
American attempts to get major Asian importers of Iranian oil to rein in their purchases are faltering as allies South Korea and Japan give U.S. officials a polite brushoff. Emerging giants India and China may even increase their purchases, further stymieing Washington’s efforts to force Iran to curtail its nuclear program. More »
There are many unintended consequences as fuel supplies become more scarce, and expensive. (With a h/t to Rune Likvern), I see that those Greeks who are being starved of affordable fuel are starting to chop down trees for warmth and income. This sort of desperation has devastated the countryside all over Albania, Africa and Asia, and is extremely difficult to recover from. To stop that practice spreading the world expects that fuel must be available at an affordable price, and one of the ongoing questions is as to whether it will continue to be.
In that regard BP has just ... More »
There are many unintended consequences as fuel supplies become more scarce and expensive. (With a h/t to Rune Likvern), I see that those Greeks who are being starved of affordable fuel are starting to chop trees down for warmth and income. This sort of desperation has devastated the countryside all over Albania, Africa, and Asia, and it is extremely difficult to stop the practice from spreading or to recover from it. The world expects that fuel must be available at an affordable price, and one of the ongoing questions is whether it will continue to be.
In that regard, BP ... More »
Canadian Prime Minister Stephen Harper’s comments add to those made by some Republicans ever since Iran issued the threats to block its Strait of Hormuz, a path for one-fifth of the world’s oil. More »
Escalating tensions over Iran’s threat to block the Strait of Hormuz have contributed to a several dollar rise in the price of oil over the past two weeks, portending an even higher oil price security risk premium that could emerge – were Iran to become a nuclear power. Analysts are already predicting a large oil […] More »
Libya’s new leaders will remember who provided the most help in overthrowing Muammar Qaddafi when it comes to new oil concessions. Italy, the biggest investor in the country, may find itself at a disadvantage. More »
Threats by Iran to cut off the Strait of Hormuz, through which nearly a fifth of the world’s oil is transported, have further energized both sides in the debate over the proposed Keystone XL oil pipeline. More »
The Middle East will need more help from international investors to keep the title of world’s biggest oil and gas producer because its remaining deposits are harder to get at. More »
As tensions continue to rise between Iran and western countries, the Iranian spokesman warned that crude oil prices could double if an oil embargo is imposed on the country. More »
Saudi Arabia won’t start producing oil right away from new fields and will adjust its crude output according to the market’s needs, said Ibrahim al-Muhanna, an adviser to the nation’s oil minister. More »
OAO Lukoil is in talks to buy 37.5 percent of the West Qurna-1 field in Iraq from Exxon Mobil Corp. (XOM), RBC Daily reported today, citing unidentified people. More »