October 27th, 2016
The attention of energy markets is fixed firmly on the latest news from the Persian Gulf, especially OPEC’s oil cap negotiations – and whether Iraq will end up sabotaging them.
Now, these negotiations are crucial to future oil prices. But they are now overshadowing some momentous energy developments in other parts of the world…
Especially Argentina’s recent energy auctions.
You see, a few weeks ago, Buenos Aires awarded 17 renewable energy contracts to a range of international and domestic companies. All in all, that’s $1.8 billion toward transforming the country’s electricity grid.
And that’s just the first step…
But a few years ago, the story coming out of Argentina was quite different. Then, the discovery of huge deposits of shale gas spurred rumors of a natural gas boom that would take over the country’s energy sector.
That didn’t happen.
Here’s why… and who’s going to profit…
October 25th, 2016
When it comes to the international oil market, geopolitics always trumps market dynamics. That’s just how important securing oil is to modern governments – and how crucial it is to control the flow of oil to other countries.
Sometimes, these non-market factors can sway the oil market directly. Yesterday was a great case in point.
That’s when Iraq’s oil minister, Jabar Ali al-Luaibi, announced that his government wanted an exemption from any production limit agreed to at OPEC’s next regular meeting, scheduled for November 30 in Vienna.
That’s quite the change from less than a month ago, when Baghdad said it was on board with OPEC’s oil production cap.
But here’s the thing. This change of mind wasn’t even the worst thing the Iraqi oil minister said…
His comments included an even more concerning claim, overlooked by the media. A claim that threatens to get Iran involved…
And could bring down the whole OPEC oil deal…