The 5th Opec+ meeting has concluded on Friday with the unanimous decision of cutting oil output by 1.2 mb/d starting from January 2019, for an initial period of six months. Opec countries will count for 0.8 mb/d and non Opec countries for 0.2 mb/d of the total target. The decision was far from being an easy one, …
A Landmark deal was reached by Caspian states on the status of te world biggest water body. However, the energy dimension has not been tackled, for now.
After the last Opec meeting, the oil market is in turmoil, with instability in Venezuela and Libya, and Iran ready to defend its place in the oil market.
On Friday 22 of June Opec agreed to increase production to keep prices under control.
The deal preserved the unity of the group and reassured the market, but it is vague and it does not clarify who is going to pump more oil, and how much it will be.
The upcoming OPEC meeting of June 22 will be filled with tensions between those willing to incease output, and those who are not. The U.S. closely watching
Nord Stream 2 in brief In 2011 the first Nord Stream offshore pipeline became operational, bringing 55 bcm/y of Russian gas directly through the Baltic Sea to Germany. The planned Nord Stream 2 is to follow the same route, doubling the capacity of the existing gas connection. The designed shareholders are Gazprom (50%), E.ON (10%), …
Kazakhstan has tremendous energy potential, but the persistent Russian influence could hinder its full development
Few weeks ago the U.S. Senate approved a sanction bill against Russia targeting its energy industry. Some European countries strongly protested, but the sanctions could bring to the surface latent tensions within the EU