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Iran to sell 3 million barrels of oil to private buyers to sidestep US sanctions
Iran announced Wednesday that it will allow private companies to buy 3 million more barrels of oil as it seeks to sidestep sweeping US sanctions. Tehran hopes to diversify its export channels as US sanctions take aim directly at its petroleum sales. Oil Minister Bijan Zangeneh said 700,000 barrels of oil have so far been sold to private buyers since the United States reimposed sanctions in November. Read More   Jane Nakano writes: Energy has emerged as a key element in the economic agenda under the Trump administration’s Free and Open Indo-Pacific strategy, which essentially seeks to marshal a counteroffensive to China-led multi-billion-dollar energy and energy infrastructure outreach in the region. – Center for Strategic and International Studies
 Iraq’s stability rests on revitalizing its energy sector and weaning itself off natural gas imports, Energy Secretary Rick Perry said Tuesday during a rare visit by a member of President Trump’s Cabinet as Washington seeks to weaken Iraq’s ties to Iran. – Washington Post Libya’s National Oil Company (NOC) on Monday declared force majeure on exports from the El Sharara oilfield, which was seized at the weekend by a local militia group. – Reuters
Farzin Nadimi writes: On November 5, the U.S. Treasury Department published an expanded set of sanctions against Iran with the intention of bringing the country’s oil export activity—and, by extension, its oil-dependent economy—to a standstill. As with previous sanctions, Tehran is expected to push back against these measures by exploiting its geographical advantages and relations with neighboring countries, and by drawing on its long experience at running a “resilient economy.” – Washington Institute
 Qatar to withdraw from OPEC Qatar announced today that it is leaving the Organization of the Petroleum Exporting Countries (OPEC) to focus on its gas industry. Qatar, which joined the oil cartel in 1961, is one of the smallest oil producers but the world’s largest exporter of liquefied natural gas. “Qatar has decided to withdraw its membership form OPEC effective January 2019 and this decision was communicated to OPEC this morning,” Qatari Energy Minister Saad al-Kaabi said at a press conference. Despite the decision, Qatar will attend this week's ministerial meeting in Vienna amid calls from Saudi Arabia to cut production to stop prices from falling. Saudi Arabia, one of OPEC’s founding members, has been leading a boycott against the tiny Gulf country since June 2017. Read More Qatar quits OPEC ahead of meeting
BY ASIA TIMES STAFF Gulf producer says it will focus on natural gas amid tensions with Saudi Arabia 
 The Skills Gap and the Future of Oil
Mark Mills, E21 When it comes to the future of work, we’re constantly told that automation and algorithms are destined to eliminate huge swaths of the workforce. But the reality is both more complicated and more optimistic.A major problem for the U.S. economy is a shortage of skilled workers. A recent Deloitte report estimates that there will be over 2.5 million skilled job openings unfilled in America over the coming decade. Read more here.... |
AuthorSouthwest Asian political economy analyst, Radio & Media Personality. Archives
October 2023
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