Russia’s reliance on four, mainly Asian, countries to import its coal has increased since some countries implemented sanctions against Russia after it invaded Ukraine, according to Global Trade Tracker data. This trade shift corresponds with increased coal exports from the United States to Europe and EU sanctions that went into …
Read More »Russian Crude Exports Increase 50% despite Sanctions
Russian crude oil supplies increased 50% this spring despite the G7 countries imposing sanctions due to war in Ukraine, the Financial Times reported on Sunday (24 September) citing data from analytics company Kpler. The European Union, G7 countries and Australia introduced a price cap of $60 a barrel on Russian …
Read More »Japan’s Plan to Discharge Water from Fukushima Nuclear Plant Faces Pacific Opposition
Officials from Pacific island nations will meet Japan’s prime minister in March in an effort to halt the planned release of water from the tsunami-damaged Fukushima Daiichi nuclear plant into the Pacific Ocean, a regional leader said. Plans to dispose of Fukushima water over four decades are a source of …
Read More »Saudi Arabia Announces Discovery of Two New Natural Gas Fields
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has announced the discovery of two new natural gas fields in the Kingdom. The “Awtad” unconventional natural gas field was discovered southwest of the Ghawar field, 142 kilometers southwest of the city of Hofuf, according to the Saudi Press Agency. The “Al-Dahna” …
Read More »Iran to Increase Gas Production in South Pars Phase 11
An official with the National Iranian Oil Company (NIOC) revealed that Phase 11 of the South Pars Gas Field is expected to generate 14 million cubic meters of gas per day by the end of current Persian calendar year (March 20, 2023). According to IRNA, Karim Zobeidi, NIOC’s director of …
Read More »OPEC can’t Make High Oil Prices Go away
High oil prices are a symptom of economic and monetary imbalances, not just a consequence of Organization of the Petroleum Exporting Countries (OPEC) decisions. Throughout history, we have seen how OPEC cuts have done little to elevate prices when diversification and technology added to rising efficiency. Likewise, OPEC output increases …
Read More »Russia Faces Not Just Falling Oil Prices but Declining Production
Most observers believe that falling oil prices delivered the coup de grâce to the Soviet Union, but in fact, it was not just declining prices but declining production as well that did the job. That combination has reappeared now – and there are few prospects that Russia will be able …
Read More »The Death of US Shale has been Greatly Exaggerated
The current year marks the 15th anniversary of the U.S. shale boom, a period in which fracking technology across such states as Texas, Colorado, New Mexico, North Dakota, and Wyoming helped establish the nation as a top oil and gas producer. Unfortunately, high costs of production compared with conventional drilling …
Read More »Japan. EU Repeat Support for Iran Nuclear Deal
Trump’s choice has faced opposition of the international community.
Read More »OPEC Output Drops to Lowest Level Since March 2015
OPEC and its partners decided to extend its production cuts till the end of 2018 in Vienna on November 30.
Read More »