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Tag Archives: Oil

SouthFront — SDF Confirms Reports That US Establishes Military Base In Vicinity Of Syria’s Largest Oil Field

The US is building a large military base in the vicinity of Syria’s largest oil field – the Omar oil field, Mehdi Kobani, a press secretary of the Syrian Democratic Forces (SDF) in Deir Ezzor confirmed to Sputnik Turkiye. “The US is building a large military base in the oil-rich Al Omar region of Deir ez-Zor province. Due to security concerns we cannot provide information about the acreage of this new installation. There is currently construction machinery working in the vicinity of the...

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Viktor Katona — Russia Is Taking Over Syria’s Oil And Gas

In accordance with an energy cooperation framework agreement signed in late January, Russia will have exclusive rights to produce oil and gas in Syria. The agreement goes significantly beyond that, stipulating the modalities of the rehabilitation of damaged rigs and infrastructure, energy advisory support, and training a new generation of Syrian oilmen. Still, the main international aspect and the key piece of this move is the final and unconditional consolidation of Russian interests in...

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Shimshon Bichler and Jonathan Nitzan — Profit warning: there will be blood

As we show in our recent research note ‘Blood and Oil in the Orient, Redux (2017)’, the Weapondollar-Petrodollar Coalition might no longer be in the Middle East driver’s seat. However, with the oil and armament companies, the region’s oil-exporting autocracies and various non-state groups all keen on seeing their oil incomes rise from record lows, the prospects of a new energy conflict, whether premeditated or coincidental, seem extremely high. More evidence suggestive that economics drives...

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Kent Moors — The Geopolitical Consequences Of U.S. Oil Exports

Two crucial things happened yesterday. The first you may have noticed – oil prices moved back up. As for the second, most so-called “experts” seemed to have missed.See, the environment we’re seeing in energy markets is very different from what we saw only a week ago, when oil prices were also rising. Because yesterday also saw – for the first time in world history – a reigning Saudi Arabian monarch in Moscow for talks with Russia’s head of state. Historically, Russia has been much...

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SouthFront — Nearly 1,000 US Troops in Syria Are Currently Under Attack by Russians

The fight for the Syrian oiil fields begins. Never letting the nuisance that is the law get in the way of the American military, it seems as though the U.S. may continue pursuing this strategy, which will ultimately bring the American air force and the Russian air force together to bomb the same territory with complete polar opposite intentions while supporting rival forces on the ground. This is easily one of the biggest geopolitical events in recent times, taking place right under our...

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UK inflation and the oil price

Inflation is back.Here is the change in the consumer price index (CPI) for January 2017, according to ONS: Well, this doesn't look too serious. CPI is barely reaching the Bank of England's target of 2%. It has been much higher for most of the last decade, and yet the Bank of England has kept interest rates at historic lows.But consumer price inflation - the prices that people pay for goods in the shops - is only one side of the equation. On the other side is producer price inflation (PPI),...

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Seeing through the smoke

The last week has been extraordinary, even by the standards of these extraordinary times. A flurry of Executive Orders from the new President of the United States has thrown the global order into chaos and sparked outrage throughout the world. But he has only done exactly what he said he would do. There is nothing in the Executive Orders signed so far that was not announced during the Presidential campaign, repeatedly and to loud cheers from his many supporters. The President was...

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The untold story of the UK’s productivity slump

The ONS has produced a fascinating discussion of the UK's productivity puzzle, with some great charts. This one shows just how much the UK's productivity has slumped: Notice when productivity started to slump. It was much earlier than 2008. In fact the data (which ONS have helpfully provided in Excel) show that output per hour started to fall in Q4 2006. The productivity slump, therefore, cannot be caused by the financial crisis. I suspect we have a "third variable" problem here. It seems...

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