New U.S. Sanctions Threaten Russian Oil Projects

Washington’s newest round of sanctions against Moscow’s oil and gas industry targets Russia’s upcoming projects worldwide, according to drafts of the measures introduced at the United Nations by the U.S. The punitive measures – designed to be a political reaction to Russia’s annexation of Crimea in 2014 – will have a limited effect on Moscow’s current operations abroad, experts said. A new provision in a preexisting sanction levied by the U.S. Department of Treasury now prohibits companies from assisting…

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3 Potential OPEC Deal Killers

The Middle East isn’t yet ready to agree on the future of OPEC’s output reduction deal as the bloc’s November 30 summit approaches, during which the cartel is set to decide on the depth and length of the cuts one year from their initial approval. Here are the three key geopolitical issues wreaking havoc on the region’s ability to collectively raise the price of oil. The Trump Administration’s Ongoing Iran Nuclear Deal Drama From the day that Donald Trump declared he would run for president, he made it clear that he…

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Trump Admin Announces Largest Oil And Gas Lease Sale In U.S. History

Interior Secretary Ryan Zinke announced the largest oil and gas lease sale in U.S. history this week. The sale will include almost 77 million acres of federal waters in the Gulf of Mexico and is scheduled to take place in March 2018.  “In today’s low-price energy environment, providing the offshore industry access to the maximum amount of opportunities possible is part of our strategy to spur local and regional economic dynamism and job creation and a pillar of President Trump’s plan to make the United States energy dominant,”…

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Libyan Oil Output Covers 25% Of 2017 Budget Needs

Despite the recovery in Libyan oil production over the course of 2017, Libya’s National Oil Corporation (NOC) been able to raise funds to cover 25 percent of the its budget, according to a recent announcement by NOC Chairman Mustafa Sanalla. A previous goal to raise Libyan output to 1.25 million barrels per day by the end of the year will be “very difficult” to achieve, he said, given the financial shortfall that doesn’t leave much room for operational expenses. “Our colleagues in OPEC and non-OPEC understand the situation,…

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Colorado Landfills Contain Radioactive Substances From Oil Sector

Landfills in Colorado have begun to fill their space with low-level radioactive substances from oil and gas activities, state health officials have said, according to the local news site the Daily Camera. After a series of meetings with local officials, state authorities have concluded that unknown amounts of radioactive material have been stored at landfills throughout the state. Local authorities are currently trying to prohibit the practice altogether by strengthening their oversight mechanisms. “There is some of it that is just going to solid…

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Clash In Oil-Rich South Sudan Region Kills At Least 25

South Sudanese authorities reported the deaths of at least 25 people on Tuesday following a clash between government forces and rebel groups in the oil-producing regions in the north of the world’s youngest country. The rebels pledge their loyalty to Former Deputy President Riek Machar, who has been exiled by the central government. On Monday, a village called Nhialdiu became the site of the clash, continuing a months-long pattern of the town changing hands unpredictably. “The number of the bodies that were found on the ground were 25,” said…

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Could Kurdish Independence Spark An Oil War?

As the date of the Kurdish independence referendum approaches, oil industry moguls should be concerned about an oil production war between Iran and headless Iraq. The Kurds are expected to vote on their political status in late September. A vote in the affirmative would mean that Iraq would lose a chunk of its northern areas, which includes the crucial Kirkuk oilfield and its surrounding reserves. The latest news from the election committee shows that the Kurdistan Regional Government (KRG) is doing the most it can to increase international participation…

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Qatar Unfazed By Arab Blockade

Qatar’s resilience in the face of months of economic and diplomatic ostracization echoes in the ears of Saudi Arabia—a regional and religious leader running out of options in its quest to keep the states on the Arabian Peninsula within the confines of its geopolitical agenda. Doha flaunted its perseverance in fulfilling international natural gas orders once again this week, when Energy Minister Mohammed Bin Saleh Al Sada confirmed this fact to diplomats and reporters in Doha. “During this blockade we have never missed a single…

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Houthis Threaten Saudi Oil Tankers

Houthi leader Abdel-Malek al-Houthi said his rebel alliance would begin attacking Saudi oil tankers should the Kingdom begin an offensive against the key Yemeni port of Hodeidah, according to a new report by Reuters. “We could target Saudi oil tankers and we could do anything, we have not done this before,” he said. The speech, which was televised across the Houthi leader’s territory, added that Yemeni missiles could reach the Emirati capital of Abu Dhabi, as well as anywhere in Saudi Arabia, though Reuters reports that the group’s…

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OPEC’s No. 2 Faces Civil War Threat

Tribal violence in the southern regions of Iraq is erupting on sectarian lines, threatening safety and security at oil facilities, officials told Kurdistan24. A majority of Iraq’s law enforcement network has congregated in the northern and western portions of the country to contain the efforts of the Islamic State to restart the reign of its illicit organization, giving Shia and Sunni the leeway to reignite previous rivalries. “We need larger forces to control rural areas and restrain lawless tribes in the south,” Army Lieutenant…

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