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Trump’s Russia threat rings hollow
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
India ready for turbulent times
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector
New Zealand backs gas, but results take time
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
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The country’s new government has grand plans for renewables, but the structural changes needed for these policies will take years to carry out
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A blockade of the Strait of Hormuz would have reverberations that would sound around the world
Trump creates new risk dynamic
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
Canada’s energy superpower ambition
The new government is talking and thinking big, and there are credible reasons to believe it is more than just grandstanding
Is a Russia-Iran gas deal on the horizon?
Russia has ample spare gas, and Iran needs it, but sanctions and pricing pose steep hurdles.
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The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
PE 90th anniversary
Politics
Neil Atkinson
9 September 2024
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OPEC and the post-war evolution of the oil industry, part 2: The emergence of the IEA

We pick up the story of the history of oil with the response of consumer countries to the 1973 embargo, with the creation of the IEA proving the adage that every action has a reaction

OPEC’s revenues soared from $23b in 1972 to $140b by 1977, and this came at a big price for consumers. Taking a longer view, GDP growth in the OECD countries fell from an average of 5% in the decade to 1973 to 3% in the decade that followed. In the ten years before the Yom Kippur War, global inflation averaged 3.6% a year, while in the ten years afterwards, it averaged 11.6%.   The impact on the global economy, including developed countries and developing countries less able to deal with the shock, was profound as huge wealth transfers flowed to the oil producers, forever changing their economies and long-term expectations about the ‘fair’ level of oil prices.  The Seven Sisters, which

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25 July 2025
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
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Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
China creates two-tier oil dynamic
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Trump’s Russia threat rings hollow
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats

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