After Iraq’s Oil Ministry approved Inpex, the big oil corporation of Japan, to sell its share of Iraq’s biggest oil discovery, ‘Block 10’, Russia is set to take control of it for 20 years. Iraq’s Eridu oil field is estimated to have reserves of seven to ten billion barrels based
Although the use of renewable energy in making electricity has been steadily increasing in recent years, oil remains the most crucial energy source globally, especially for transportation and heating. According to a report by the International Energy Agency (IEA), 29% of the world’s energy will come from oil in 2020,
According to a Reuters investigation, Venezuela’s secret weapon might be a “dark fleet” of oil tankers. The country’s national oil company, PDVSA, had reportedly leased 41 tankers in 2022. Dark fleet is a term used to describe the assortment of tanker vessels which conceal their locations so as to enable the
The History of Oil One of the most important relationships was influenced the most by these 10 influential figures.
In a recent interview with the Associated Press, Treasury Deputy Secretary Wally Adeyemo acknowledged that India will continue rejecting US and EU calls to boycott Russian oil due to the allure of cheap oil.
With oil and energy becoming a major source of worry for billions of people as 2022 drags on, India has positioned itself in quite a nice situation. This is predicated on the fact that Russia has become India’s second largest oil supplier.
The dynamic between the US and Saudi Arabia seems to be dramatically changing. The petrodollar is showing cracks in what seemed to be an impregnable fortress as Saudi Arabia is now considering accepting the Yuan for Chinese oil sales instead of the dollar.
Employees at Royal Dutch Shell’s Nigerian joint venture orchestrated damage to oil pipelines to profit from the money spent on clean-up operations, investigation by Dutch investigative TV programme Zembla has revealed. Employees of Shell in Nigeria ordered the vandalization of oil pipelines for their own personal gain. Speaking to Zembla
A secret oil deal between China and Iran at the heart of the One belt One Road project will change the geopolitical balance of power in the Middle East. The manufacturing products created by utilizing cheap Iranian resources will be used to crack the western markets through the China-Iran axis