The weekly article from Baghdad
Russia has decided to go to war against U.S. shale, dropping its alliance with OPEC that helped save the day when a glut in oil markets was biting hard at its revenues. Saudi Arabia launched a price war in retaliation at Russia’s refusal to agree to deeper output cuts, slashing the official price of its crude by the most in more than two decades and vowing to increase output by…
U.S. crude oil and energy product exports surged to an all-time high in the third week of June, making the country a net exporter of oil and products for the third time since November 2018. This change lends credence to American officials’ presumption that amid growing U.S.-Iran tensions in the Persian Gulf, Washington is less compelled to police oil transit routes in the region, especially the Strait of Hormuz, than…
A growing confrontation between the U.S. and Iran that began with the American withdrawal from the 2015 nuclear deal and the reimposition of sanctions has recently turned into a conflict over tankers between Iran and the UK. The impounding of an Iranian tanker by the British Royal Marines off the coast of Gibraltar on July 4 was followed by the boarding and seizure of a selectively chosen UK-flagged tanker by…
Iraq managed to award 6 out of 11 exploration block and gas field in its fifth bid round, despite the rushed organisation which kept big players such as Exxon Mobil, Total and Lukoil away despite showing earlier interest. Most of the bidders were first comers to Iraq, vying for a foothold in the country’s prolific oil and gas sector. (Full Results) Coming just two weeks ahead of national elections, it…
