The decision by Gazprom to agree to overhaul some of its monopolistic trading practices in eight European states for an eight-year period is being hailed by the company and the European Union as a victory for both sides.
US President Donald Trump’s administration appears to have taken a step back on its promise of hard action against Iran, inevitably fuelling speculation that it is hesitating over how to deal with Tehran after years of energy and other sanctions.
Ecuador may yet be on course to buck the South American trend and elect a new left-wing president — but whoever wins will have a fight on their hands to breathe new life into the oil economy of this Opec member nation.
A social time bomb is ticking in English speaking southwest Cameroon, which borders similarly oil-rich terrain in neighbouring Nigeria but where comparatively little E&P activity has been evident over recent decades.
Statoil’s planned two-well wildcatting campaign off Newfoundland, Canada, this year clearly indicates how important this new play is to the company, despite being located in deep, harsh, sub-Arctic waters.
Guyana’s rise from a country with no production to the development of one of the largest oil discoveries in decades presents a challenge not only for the South American nation, but the global industry as a whole.