Jan 6, 2015

U.S.-led warplanes target jihadist oil pipeline in Syria

U.S. and coalition aircraft on Sunday targeted a crude oil pipeline and collection depots in Syria held by Islamic State jihadists, the American military said, in the latest bid to undercut the group’s oil smuggling. Allied fighter jets and bombers carried out 14 air ...

Oil prices and Saudi democracy

Dec 30, 2014

Oil prices and Saudi democracy

by John Kemp

Saudi Arabia's top policymakers deny they have deliberately sought lower oil prices, and there are good reasons to doubt the kingdom is wielding the oil weapon as part of some grand geopolitical strategy.

Clashes in Libya oil region 'serious'

Dec 29, 2014

Clashes in Libya oil region 'serious'

Libyan Foreign Minister Mohamed Dayri said Sunday that extremist groups are escalating their attacks and making a renewed push to seize oil resources, after an assault on eastern terminals set storage tanks ablaze, sending massive clouds of black smoke into the sky. Dayri, speaking ...

Dec 27, 2014

Falling oil prices pushing Russia toward recession

Slumping oil prices have put Russia’s economy on course for a sharp recession next year, Finance Minister Anton Siluanov said Friday, as authorities scaled up their bailout for the first bank to succumb to the recent ruble crisis. The economy is slowing sharply as ...

Putin scraps New Year's holidays for ministers

Dec 26, 2014

Putin scraps New Year's holidays for ministers

Russian President Vladimir Putin has scrapped New Year’s holidays for government ministers because of the unfolding economic crisis. Putin told a televised government session on Thursday that Cabinet ministers “cannot afford” to go on holiday. Russian company employees throughout the country are entitled to ...

Iran's support for Syria tested by steep fall in oil revenues

Dec 20, 2014

Iran's support for Syria tested by steep fall in oil revenues

Syrian businessmen and trade officials are worried that the economic lifeline provided by Iran is under strain from plunging oil prices despite public messages of support from Syria’s strongest regional ally. Syrian President Bashar Assad has relied on oil-producing Iran to help him fight ...

Dec 16, 2014

Denmark claims North Pole via Greenland ridge link

Scientific data show Greenland’s continental shelf is connected to a ridge beneath the Arctic Ocean, giving Danes a claim to the North Pole and any potential energy resources beneath it, Denmark’s foreign minister said. Foreign Minister Martin Lidegaard said Denmark will deliver a claim ...

Dec 12, 2014

'Catastrophic' Bangladesh oil spill threatens rare dolphins

An oil spill from a sunken tanker in Bangladesh is threatening endangered dolphins in the vast Sundarbans delta, officials warned Thursday, calling it an ecological “catastrophe.” The tanker was carrying an estimated 357,000 liters (77,000 gallons) of oil when it sank in the Sundarbans’ ...