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The High-Stakes U.S. Courtship of Turkmenistan
Steve LeVine, The Oil and the Glory
The Bush administration’s imminent creation of a powerful new Eurasian energy office is part of a late but broad strategy to catch up to and overtake Russia’s advanced natural gas juggernaut in Europe.
As I reported a couple of days ago, the administration plans to appoint a potent two-man diplomatic team — former ambassador to Russia Thomas Pickering, and Steven Mann, currently a senior State Department official on Central and South Asia.
People with whom I’ve been exchanging messages say the duo’s main task is this: To transform a long-shot European natural gas pipeline proposal called Nabucco into reality. Nabucco would carry natural gas from the Caspian Sea to Europe.
By accomplishing that, the U.S. would blunt the impact of an advanced Russian pipeline project that’s meant to secure and increase its position as Europe’s most important natural gas supplier (Russia’s Gazprom already controls about 30% of Europe’s natural gas and oil supply).
(30 November 2007)
Coverage of the new Great Game in Central Asia (“A Blog on Central Asia, the Caucasus and Russia”). Steve LeVine is author of “The Oil and the Glory”. -BA
Venezuela threatens to cut oil exports to U.S
Reuters
Venezuela’s leftist President Hugo Chavez said on Friday he will cut oil sales to the United States if the American government interferes in Sunday’s referendum aimed at allowing him to run for reelection indefinitely.
Chavez told supports at a rally that the state oil company will halt sales to the United States on Monday if Washington interferes with the vote on the proposed constitutional reform.
The Venezuelan leader and Cuba ally also said he had ordered the military to protect oil fields and refineries in case of political violence.
(30 November 2007)
The 10 Oil Producers Most Likely to Shock the World
Energy Tech Stocks
These rankings are solely the opinion of EnergyTechStocks.com. They are based in large part on an extensive briefing by Charles Esser, Brussels-based energy analyst for the International Crisis Group, a non-governmental organization dedicated to preventing and resolving deadly conflict.
4 – Venezuela; 3 – Saudi Arabia
2 – Azarbaijan
1 – Iran and its proxies
(27-29 November 2007)
The final posts in a series.
OPEC Countries Will Rival China in 08 Oil Demand Growth
Isabel Ordonez, Dow Jones
OPEC countries will rival China in global oil demand growth through 2008 and beyond, according to a report released Friday by investment firm Lehman Brothers Inc. (LEH).
Consumption of oil in countries that are members of the Organization of Petroleum Exporting Countries should grow 4.4% to 370,000 barrels per day in
2008, putting the producer group behind only China in terms of incremental demand growth, according to the report.
More than 50% of this growth will be experienced in Middle East OPEC members, with Saudi Arabia the country with the largest demand of 105,000 barrels of oil per day.
“OPEC demand continues to benefit from petrodollar fueled economic growth focused in oil-intensive sectors: infrastructure, power generations, water desalinization and petrochemicals processing,” the report notes.
Lehman Brothers points to expanding population within the Middle East, especially in countries such us Kuwait, Qatar, Saudi Arabia and the United Arab Emirates, as another significant driver of energy demand among OPEC members.
(30 November 2007)
