In an interesting development, Belarus hits back at Russia by slamming huge taxes on Russian oil transported through its pipeline to European countries. The decision was taken after three days when Belarus halfheartedly agreed to demands by the...
Tag - Politics & Society
Russia's growing clout as a store house of natural gas has proved a bane for tiny neighbor and ally Belarus who will have to pay double the price for gas supply in order to ward off a cold winter.
Russian state-controlled oil and gas...
OPEC countries are rallying again to discuss further cut in oil production which would mark the second time in the past three months. However, speculations are high that the probable cut in oil production will not come into effect immediately....
As winters had approached US, the cold climate is giving rise to demand of oil as well its price. Oil is used as a major heating fuel, especially in the cold regions of U.S. Therefore when there is rise in demand and decrease in supply it is obvious...
Year before it was forecasted by OPEC that oil will reach up to $76 a barrel, but it was inverse as they were expecting. Instead of rise the price went down to $58.74 yesterday.
Due to such unexpected changes, OPEC members have decided to lower down...
OPEC has decided to cut down its output by millions of barrels per day. Presently the decision is under consideration. Such steps are taken to maintain difference between what the world consumes and what it is able to produce. Main aim of OPEC is to...
To overcome the oil crises and monopoly of OPEC one should know that there are 71 million barrels of oil waiting to be discovered in the deep water of mexico sea. There are another 85 billions barrels off coast of N.Africa and the water that...
We now come to the events that led to the current problems for OPEC. Remember when looking at this problem that OPEC or any other cartel faces two problems in their attempts to control prices. The first problem is to determine the level of production...
In an earlier post, we wrote about the geopolitical positioning going on in the Caspian region.
Infiltrating a little down from oil politics there is politics of oil& gas pipelines, which is increasingly intensifying every passing day.
At present,...
The Caspian Sea has become the world's most strategic geographical location as it has amassed almost one third of world's undeveloped natural gas and oil deposits.
At present, this potentially strategic location is not only influencing regional...
The international crude price slips 1.7 percent to below $70 per barrel owing to the death of the dreaded al-Qaida leader Abu Musab al-Zarqawi in Iraq. The crude supply from Iraq had been restrained due to the frequent attacks and instability, but the...
International crude oil prices rose to touch the highest price in recent times as Iran threatened to disrupt oil supply flowing through Persian gulf that supply as much as 20 percent of the world's oil. Iran's supreme leader Ayatollah Ali Khamenei...
Venezuelan President Hugo Chavez urged OPEC countries to stop trading in dollars in order to end the dictatorship of this currency. However, Iran is already selling oil in euros in place of dollars. Obviously selling oil in euros would definitely...
Grappling over oil politics is relentless in this world. In a new twist in the game, at one hand U.S. and other oil-consuming nations have requested OPEC, which produces almost 40 percent of the world production, to expand out put to ease the world...
In a time when the world is panic-stricken due to spiking oil prices, Venezuelan President Hugo Chavez is likely to go for a cut in oil production. In the run up to the OPEC meeting, this can sent shock waves to many countries fearing a drop in the oil...
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