Hydrocarbons continue to drive nations’ economies and politics around the world, creating both corruption, stagnation and — sadly as we’ve seen again — all-out war.
Tag: petrol
A complex compensation mechanism for fuel companies, currency devaluation, increased demand due to the war, logistics disruptions, and stuttering production growth have combined to trigger price rises and deepening shortages at home in the Russian energy market. That is a real risk for the war in Ukraine.
How do you rebuild a country decimated by four decades of war and embargoes? Following the withdrawal of the U.S. military, Iraq faces many challenges, from oil revenues captured by the militias and endemic corruption to religious segregation. However, there are glimmers of hope for the country’s future.
The possibility of transitioning to a greener energy future varies among economies that are fossil fuel-dependent , which represent nearly one-third of the world’s population and one-fifth of global greenhouse gas emissions. For some, the question is purely financial; for others, political factors are slowing the shift.
While drilling deep for water last week in his field near Ouled Rahmoune, in northeastern Algeria, a farmer was surprised to see a liquid pouring from the pipes of a very different consistency, smell, color — and worth! Oil. What makes the discovery all the more unusual is that Algeria’s most important known deposits of […]
Venezuela’s PDVSA, once among the world’s most powerful oil firms, was transformed and largely gutted under Hugo Chavez and Nicolas Maduro. But the story is more complicated than it may seem.
The OPEC-Russia oil spat that has provoked stock-market panic may prove the last straw for a world economy on the verge of another recession.
An art exhibition in Dubai depicts an alternative story of the Middle East, using oil as a starting point.
BEIJING — China has received a string of recent visits from African government and business officials, including Nigerian President Muhammadu Buhari, in April, and Mozambican President Filipe Nyusi, who came in May accompanied by officials from his national petroleum company. The president of the Algerian national oil company also made a trip to China of […]
BERLIN — As the price of oil continues to fall, share prices on the Gulf region’s stock markets have plummeted in parallel. The price of oil reached a yearly low of $60 a barrel on Friday, and we’re now looking at a possible $50, which would create a truly bleak outlook for economic prospects in […]
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The Last Man At The Pump
MAISACH — “It’s high season, so it’s not really convenient,” says Uwe Möderl when we first talk on the phone. Then, moments later, he says, “How would tomorrow night be?” The 51-year-old Bavarian is apparently not a man who wants to be kept from his work. I had been looking for an experienced gas station […]
In the first interview with the foreign press since his victory, the new Venezuelan President tells Le Monde that he will carry on Hugo Chavez’s policies, both at home and abroad.
ALMATY – The sharp rise in tensions between the European Commission and Russian oil giant Gazprom is worrying the central Asian nations of Kazakhstan, Turkmenistan and Uzbekistan, which are highly dependent on their gas and oil exports to the EU. “The relationship between Europe and Russia, in regards to energy, is similar to that of […]