The collapse in oil and natural gas prices is creating an uneasy situation for some producing nations that rely on that revenue to function, a U.S. state department official said Tuesday at a conference in Houston.
Oil sales — the extremists’ largest single source of continual income — are a key reason they have been able to maintain their rule over their self-declared “caliphate” stretching across large parts of Syria and Iraq.
The case began last year when Iraq’s central government sued to seize a tanker loaded with crude from the country’s Kurdish region that had sailed to the Gulf of Mexico and anchored in international waters off the coast of Texas.
FuelFix.com is your daily must-read source for news and analysis on the energy business. Anchored by business reporters at the Houston Chronicle and other Hearst Newspapers, Fuel Fix incorporates blogs by energy experts, market updates, useful data and a real-time summary of the top ideas, hottest stories and latest news in the oil, gas and energy industries.
Browse previous blog posts by month and year of entry. You'll see all the posts for that time period.