3,687 Results for:

May 1, 2020

Iraq
Between a Rock and a Hard Place: Iraq’s Pledge to Cut Oil Production

Iraq faces an uphill battle in meeting its obligations to the historic production cut agreement reached by the Organization of Petroleum Exporting Countries (OPEC) and other major producers such as R…

A worker wears a protective mask, following an outbreak of coronavirus, at Nahr Bin Umar oil field, north of Basra, Iraq March 15, 2020.

May 27, 2020

Russia
Russia's Complex Oil Reality

This is a guest post by Hunter Kornfeind, intern for Energy and Climate Policy at the Council on Foreign Relations and current student at Temple University. Russia is coping with a new reality fro…

Workers stand next to a logo of Russia's Rosneft oil company at the central processing facility of the Rosneft-owned Priobskoye oil field outside the West Siberian city of Nefteyugansk, Russia.

May 14, 2020

Coronavirus
The Elements Unfold: A Possible Bottom to Oil Prices

The process of going into lockdown due to the coronavirus pandemic has been revealing, especially in regards to oil. There are many elements to the smooth operation of global oil logistics that are n…

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020.

May 13, 2020

Nigeria
Amid Oil Price Collapse, Nigeria Is Running out of Foreign Exchange

The fall in international oil prices amid coronavirus is having a devastating impact on Nigeria’s formal economy. Oil, the property of the Nigerian government, provides more than 60 percent of government revenue and 90 percent of foreign exchange.

A money changer counts Nigerian currency notes for a customer in Nigeria's commercial capital, Lagos, Nigeria, on March 16, 2020.

April 22, 2020

Oil and Petroleum Products
As Oil Collapses, so Does a Vital Source of African Revenue

Accompanying the misery of the coronavirus pandemic—and exacerbated by it—has been an ongoing crisis in the oil industry. While the scale and tragedy of the coronavirus is front and center in our minds, the collapse of oil is more abstract, and its long term consequences will be serious. Especially in Africa, the collapse of oil is likely to devastate government revenue at exactly the same time the continent faces the astronomical costs of responding to the coronavirus and looming famine.

Kaombo Norte floating oil platform is seen from a helicopter off the coast of Angola, November 8, 2018

April 20, 2020

Financial Markets
OPEC Plus’ Zero-Sum Oil Game

Prior to the U.S. invasion of Iraq in 2003, international sanctions had severely curtailed Iraq’s oil industry. Oil production sat at 1.4 million barrels a day (b/d). Iraq’s beleaguered refining indu…

The Suezmax sized oil tanker Karvounis lies at anchor south of Port Fourchon, Louisiana, U.S.

July 2, 2020

United States
U.S. Natural Gas: Once Full of Promise, Now in Retreat

Mirroring events that rocked the international oil industry earlier this year — catalyzed by the fallout from the COVID-19 pandemic — a now sluggish global economy is hitting the liquefied natural ga…

U.S. President Donald Trump appears before workers at Cameron LNG (Liquid Natural Gas) Export Facility in Hackberry, Louisiana, U.S., May 14, 2019.

July 2, 2020

Belgium
Belgium Begins to Confront Its Brutal Colonial Past in Congo

Following anti-racism protests in Belgium, King Philippe, in a letter to Felix Tshisekedi, president of Democratic Republic of Congo (DRC), expressed his "regret" over his country’s exploitation of DRC.

Belgian King Philippe sits at a dark wooden table in a black suit, black tie, and white shirt. His hands are folded and his face is somber, with his silver-white hair combed down. To the left is a Belgian flag on a vertical flag pole; to the right are two family framed pictures sitting on a low bookcase.

April 6, 2020

Oil and Petroleum Products
Oil Ground Zero: Running Out of Storage

In recent days, the Donald J. Trump administration appears to have been sending mixed messages about oil. Typically, low oil prices can be a stimulus to the U.S. economy, but that is in situations wh…

 A local mural takes on new meaning while a United Parcel Service (UPS) delivery truck pauses at a traffic light, as the spread of coronavirus disease (COVID-19) continues in Washington, U.S., March 27, 2020.

June 30, 2020

Syria
U.S. Retrenchment Will Intensify Crisis in Idlib

In order to prevent a humanitarian disaster in Syria and avoid regional instability, the United States should make the outcome of the fight for Idlib a national security concern and exercise the lead…

Two adults and two children walk by a destroyed building on which images of the novel coronavirus have been spray painted in Idlib, Syria.