Russian oil price cap is a go. But will it work?

Russian oil price cap is a go. But will it work?Russia following Iran’s playbook on how to skirt sanctions Australia, Britain, Canada, Japan, the United States, and the 27-nation European Union finally, but hesitantly, agreed last Friday to cap the price of Russian crude oil imports by other nations at US$60 per barrel. The EU embargo on importing Russian seaborne crude is in effect from…

Roadblocks persist to capping Russian crude exports

Roadblocks persist to capping Russian crude exportsThe EU is split on the price to charge for Russian exports There are less than two weeks left, but the decision to cap Russian seaborne crude exports at a ‘certain price level’ still faces significant roadblocks. And the G7 and the European Union have not yet made a final decision as to the price…

Oil markets entering a new era of chaos

Oil markets entering a new era of chaosThe UK and other parts of Europe may be in for a cold and chilly winter December 5 is fast approaching. On the day, and despite the tightness in the markets resulting from the OPEC output cut, major moves are at play on the global energy chess board. That is the day the EU is…

The world is in for a major climate change catastrophe

The world is in for a major climate change catastropheUnfortunately, for many, the very issue of global warming remains a hoax World leaders assembled last week at the Red Sea tourist resort of Sharm-El-Sheikh in Egypt for the COP 27 U.N. summit, the annual global environment conference aimed at finding solutions to the environmental issues faced by the world. The almost two weeks long…

The world needs Russian resources

The world needs Russian resourcesThe earlier world leaders acknowledge that fact, the better it will be for the entire world Fatih Birol, the guru of the energy world and executive director of the International Energy Agency (IEA), recently told Euronews that Russia will (ultimately) lose the energy battle it is waging against the West. But take that conclusion with…

U.S., Saudi Arabia in a battle to control oil market

And that will have consequences for the rest of the world

U.S., Saudi Arabia in a battle to control oil marketThe United States and Saudi Arabia are locked in a bitter battle over oil, CNN Business reported last Friday. And it carries consequences, not only for the future of the global energy order but also for the future world order. Everything is at stake. Ever since the world began growing out of the COVID pandemic…

Saudi Arabia losing confidence in U.S. security blanket

Washington is not as important to Riyadh as it used to be

Saudi Arabia losing confidence in U.S. security blanketIn the mid-80s, it is said that U.S. President Ronald Reagan and King Fahd of Saudi Arabia colluded to destroy the oil markets by making it financially impossible for the then-Soviet Union to continue its Afghanistan venture. Oil markets crashed. The war on Afghanistan became untenable for Moscow. The Soviet Union disintegrated, and the world…

Will OPEC oil price hike lead to a Saudi/U.S. “divorce”?

Ultimately – or after the U.S. mid-terms – the animosity will cool down

Will OPEC oil price hike lead to a Saudi/U.S. “divorce”?Oil is addictive. At least for addicts like me. While I took some time off over the last couple of weeks, the oil and energy world passed through major upheavals, with long-term geopolitical consequences. On Sept. 27, three offshore lines of the Nord Stream gas pipeline system on the bed of the Baltic Sea sustained…

Energy-rich Middle East countries smiling all the way to the bank

Putin's War has lifted the Gulf states out of an almost decade-long economic slump

Energy-rich Middle East countries smiling all the way to the bankI am in Abu Dhabi and the glitter is visible – all around. With the oil-based economies of the Gulf’s current high budgetary surpluses, the glitter will only shine brighter. New projects worth hundreds of billions of dollars are being showcased throughout the region, from Saudi Arabia to Qatar and from Abu Dhabi to Kuwait.…

Putin’s War threatens Germany’s competitive advantage

Limiting gas imports from Russia has thrust the country into its biggest energy crisis since the Second World War

Putin’s War threatens Germany’s competitive advantageGermany is stuck between a rock and a hard place. On the one hand is its decision to limit crude and gas imports from Russia. On the other, its industrial might is under threat. Berlin’s political decision to limit gas imports from Russia has thrust the country into its biggest energy crisis since the Second…
1 2 3 14