Oil Exports

This tag is associated with 17 posts

Oil Supply Glut Leads To Massive Tanker Traffic Jam: “Would Stretch For 25 Miles”

By Mac Slavo While oil prices have jumped about 50% in recent weeks, there appears to be no real reason for the move other than pure speculation and billion-dollar market cash infusions from unknown plunge protection teams. But as the mainstream media continues to tout non-existent reduction agreements between oil producing nations, the following evidence … Continue reading

More Troubles May Lie Ahead For Nigeria As MSCI Weighs Removal From Index

More troubles may lie ahead for Nigeria, Africa’s largest economy, as global equity index provider MSCI is considering dropping the nation from its benchmark Frontier Markets Index, which could put $500 million of equity investment under threat. On Thursday MSCI announced that it’s considering removing the country from its Frontier Markets Index, blaming currency restrictions imposed by … Continue reading

Russia And China Continue To Forge Energy Ties

By Ante Batovic The Russian pivot to Asia continues with a $2.2. billion deal between energy giant Gazprom and the Chinese National Bank. The loan will help the Russian natural gas monopolist to finance its large infrastructural projects including the Power of Siberia, Northern and Turkish Stream pipelines. Since the introduction of Western sanctions in 2014, … Continue reading

IEA Cheif ‘Sounds Alarm’ On Oil Industry As Further Investment Cuts Seen

The Executive Director of the International Energy Agency (IEA) says he is sounding the “alarm bells” on the oil industry amid turmoil that is set to drive further investment cuts. Fatih Birol, Executive Director of the Paris-based IEA, says that the oil industry is set to further reduce spending in 2016 as oil prices remain low, signaling more pain ahead … Continue reading

Oil Is Dirt Cheap… Literally [Chart]

By Jeff Desjardins, Visual Capitalist A BARREL OF OIL IS THE SAME PRICE AS A BARREL OF “SCOTT’S TURF BUILDER” In theory, a barrel of crude oil seems quite valuable. It’s well-known, for example, that from one barrel of oil, a refinery can make 19 gallons of gasoline, 12 gallons of diesel, and four gallons of jet … Continue reading

Indonesia Rejoining OPEC, Despite Being A Net Importer Of Petroleum

By EIA The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country’s request to reactivate its membership at the next OPEC meeting in December. Once it rejoins, Indonesia will regain its status as the only Asian member of OPEC and the only member that is a net importer … Continue reading

What Nigeria Can Do To Weather Low Oil Prices And Slow Economic Growth

By Kalu Ojah Ever since Nigeria started harvesting its petroleum endowment, its economy’s umbilical cord has avoidably been firmly tied to the volatility of this commodity’s price. This vulnerability is demonstrably reflected in that about 65% to 70% of annual government expenditure comes from oil revenues. Historically, it’s been as high as 90%. And every downturn … Continue reading

Brazil’s Energy Profile – Analysis

By EIA In 2014, Brazil was the eighth-largest energy consumer in the world and the third-largest in the Americas, behind the United States and Canada, according to BP statistics. Total primary energy consumption in Brazil has nearly doubled in the past decade1 because of sustained economic growth. The largest share of Brazil’s total energy consumption … Continue reading

Indonesia’s Energy Profile – Analysis

By EIA Indonesia is reorienting energy production from serving primarily export markets to meeting its growing domestic consumption. Indonesia’s energy industry has faced challenges in recent years from regulatory uncertainty and inadequate investment. Overview Indonesia, with a population of 253 million people in 2014, is the most populous country in Southeast Asia and the fourth … Continue reading

Why Low Oil Prices Are Here To Stay

By Roberto F. Aguilera, Marian Radetzki Oil price rises over the past 40 years have been truly spectacular, but the recent fall is probably here to stay, thanks to increasing production. We discuss these trends in our new book, The Price of Oil, published this month. In constant money, prices rose by almost 900% between 1970-72 and … Continue reading

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