President Obama made headlines recently by floating a$10 per barrel oil tax. This needs to be the opening salvo in a renewed effort to move the country beyond oil, but the effort also needs to be more ambitious
The continuing decline in oil prices, to levels not seen for more than ten years, has been a major reason for investor nerves and market volatility in recent weeks. Sentiment has always been a major driver of stock prices and this is also true when assessing the impact of a lower oil price on environmental markets
Iranians have a crude choice to make on Feb. 26 when they vote in their first parliamentary election since the state’s sanctions were lifted. Elect moderates and the chances of Iran being able to raise its oil output increase, as trust with the wider world and investors improves
Out of the five littoral states, only Azerbaijan and Kazakhstan will cut oil production this year.
According to experts, in spite of the falling oil prices, the oil production situation in the five Caspian states does not cause a lot of concern. But their dependence on the oil revenues will adversely affect their economies
German wind power output reached a new record this week, peaking above 33 GW overnight Tuesday, but dropped to just 1 GW by Friday, with coal and to a lesser extend also gas-fired power plants providing the flexibility needed to keep the system balanced, a Platts analysis of hourly generation profiles shows
Some experts believe that the fall of the oil prices on the back of the news of the lifting of the sanctions against Iran was speculative. Other experts, on the contrary, believe that the effect of the Iran factor on the oil prices cannot be ignored
The introduction of natural gas to the island’s energy system is of equal if not greater importance than the extra money that gas exports will in the long term bring to government coffers
Iran’s speed of re-integration into the global oil market is a million b/d question mark hanging over the industry.
How much additional oil will flow from Iran will depend on how quickly Tehran can ramp up after several years that effectively shut in a chunk of its production and how fast it can make new inroads into an already crowded market.
As we enter 2016, potential gas exports from the East Med are again attracting attention. With the gas regulatory framework deal in Israel approved, and soon to come into force, there is talk about gas exports to Egypt, Jordan as well as Turkey. Cyprus has been negotiating with Egypt for over 15 months now to export Aphrodite gas either for Egypt’s own use or for liquefaction at Idku and export to Europe
Like 1973, the year 2015 marked a decisive shift in the world’s energy economy. In 2015 a series of events combined to drive what may well to be profound shifts—even turning points—in the history of the energy sector.
Israel and Turkey have come close to bridging a dispute outstanding since 2010, when a Turkish flotilla heading to Gaza was attacked by Israeli forces killing ten Turkish citizens
Whenever it can, the Islamic State strikes at the West through the attacks by terrorists inspired by its hateful ideology. The recent attacks in Paris and San Bernardino, Calif., are an all too painful reminder of the dangers of this despicable group
This article is based on the presentation of Mr. Ellinas at the 4th Energy Symposium organized by IENE and FMW and held between 7-8 December at Hilton-Park in Nicosia
We had a number of important developments regarding Cyprus Exclusive Economic Zone this week. BG Group (BG) agreed to acquire a 35% stake in Block 12, which includes Aphrodite
The rift between Moscow and Ankara is growing after Turkey shot down a Russian fighter jet that allegedly violated its airspace. On Nov. 24, Russian President Vladimir Putin said the attackwould have "serious consequences for Russian-Turkish relations." There has been a flurry of diplomatic activity in the short time since the incident, and the countries have severed military contacts
If clean energy could be produced for less than it costs to dig up and burn an equivalent amount of coal, gas or oil, dirty fuels would stay in the ground and the climate would be saved. Simple enough but who can bring about that crucial cost reduction?
Over the past 12 months the global LNG industry has seen a gradual shift and rebalancing of market fundamentals. After an extended period of tight supply and demand dynamics, the recent strong supply growth and subdued demand in traditional markets has eased pressure on Asian LNG spot prices. The industry is becoming more competitive in its nature
I have known Bashar al-Assad, the president of Syria, since he was a college student in London, and have spent many hours negotiating with him since he has been in office. This has often been at the request of the United States government during those many times when our ambassadors have been withdrawn from Damascus because of diplomatic disputes
Iran says it is ready to offer more than 50 projects for energy exploration and production to investors so that it can return quickly to the global oil market as soon as it is free from Western sanctions