Security crisis delays the expansion of Iraq’s economy

Security crisis delays the expansion of Iraq’s economy

IRAQ’S officially proven oil reserves are approaching 115 billion barrels. In 2013 the Iraqi Ministry of Oil reported an increase to 143 billion barrels. If this is correct, Iraq is the fifth biggest producer in the world. Most of the oil is in the Shi’i south –...
Azerbaijan is the winner in European pipeline race

Azerbaijan is the winner in European pipeline race

AZERBAIJAN can be seen as the biggest winner in the race to decide the route for the final leg of the trans-European pipeline from the Caspian Sea to Italy. It cooperated with Turkey in building the TANAP pipeline and made the supply of Caspian gas to Europe...
Major oil nations warned over failure to develop shale

Major oil nations warned over failure to develop shale

MAJOR oil exporters are warned they could see a significant deterioration in their balance of trade if they fail to develop their own shale oil resources. Countries such as Russia and the Middle East could see a drop of around four to 10 per cent of GDP, according to...
Russia’s hold Europe’s gas market is changing rapidly

Russia’s hold Europe’s gas market is changing rapidly

THE 28 countries in the European Union form the world’s largest energy importer with Russia its biggest supplier of oil, gas, uranium and coal, as well as the third-largest electricity exporter to the EU. The EU is Russia’s largest trade partner, accounting for more...
Gas consortium backs the Adriatic route to Europe

Gas consortium backs the Adriatic route to Europe

YEARS of corporate rivalry in the energy industry and international competition has ended with the decision to award a contract to build a pipeline to take gas from the Shah Deniz gas field in Azerbaijan to Europe. The BP-led Shah Deniz Consortium selected the 876km...