Russian oil price cap under growing scrutiny as prices rise
When the West rolled out its unprecedented price cap on Russian oil late last year, it hoped to starve Moscow of much-needed revenue while minimising the impact on other countries.…
Slump in industrial production
There is no end to the bad news on the on-going performance of the economy of Pakistan. Now we have been informed by the Pakistan Bureau of Statistics (PBS) that…
Iraq’s ambition to match Saudi oil output is out of reach
Iraq’s oil output and capacity may peak following growth of around 25% over the next five years, analysts said, falling short of 2027 targets and ending a long-standing ambition to…
Oil and gas profits fuel UK worker demands for just energy future
When Scott Agnew worked on deep sea oil and gas tankers and cargo boats in the 1980s, he used to count whales and dolphins for conservationists’ surveys on his voyages…
Texas: Wind and solar stake claim to land of oil
Modern Texas was built on oil, and its production has long been a source of immense pride. But now, areas that moved to the steady rhythm of oil derricks for…
Venezuela: the decline of an oil giant in crisis
Leaks, rusted pipes, pieces of broken equipment scattered about and staircases leading nowhere: Lake Maracaibo’s oil field is a metaphor for Venezuela’s once-flourishing petroleum industry that is now on its…
Russian oil sold to India below price cap in buyers’ market
Russia’s flagship Urals crude has been sold at deeper discounts this month following a European ban on Russian oil imports, and dominant buyer India has bought barrels at well below…
Oily matters – II
Immediate solutions are never possible or feasible. There has to be alternative plan and targets. How about we target a proposal to reduce oil consumption by 25% by 2030? A…
Oily matters – I
Pakistan’s oil imports are the biggest drain on foreign exchange. Current year’s oil import bill has been projected to exceed 23 billion USD as against total exports of 34 billion…
What to do with furnace oil?
Furnace oil used to be the backbone of both power and oil industry until only a few years ago. There were no LNG or coal power plants. Almost all thermal…
