Don’t Be Fooled by Libya—This is a Failed State
Gunmen yesterday seized Libyan Prime Minister Ali Zeidan from a hotel in central Tripoli, releasing him shortly afterwards, but making it clear that post-Gaddafi Libya is a failed state and that the government is incapable of taking full control over its oilfields and export terminals.
Three years has seen the overturn of two government, the deaths of thousands of people and the destruction of much of the Egyptian economy. In the end, the mobs have changed nothing, except to make their own lives more miserable.
A rude jolt for motorists as they face another increase in petrol prices! The rising cost of international crude oil coupled with the volatile economy over the past fortnight is driving pump prices towards a record high.
It’s time to slash the huge oil import bill, folks, say the reports! This shocker is the latest game plan of the Indian Government; they plan to reduce the demand of fuel by limiting the fuel availability hours. The Government is pondering over a proposal and may close the petrol pumps at night.
The free fall of the rupee coupled with surge in international fuel prices saw oil companies announce Rs.2.35 per litre increase in petrol prices and that of diesel by 50 paise on Saturday.
Much has been made about the role that hydraulic fracturing – or fracking -- has played in revolutionizing the energy landscape, unlocking vast new reserves of oil trapped in shale rock. This "tight oil" is pouring into the global pool of oil supplies at a crucial time, preventing oil prices from spiking in an age of high demand and geopolitical turmoil.
Russian President Vladimir Putin said he doesn't think the European community can do without the natural gas it gets from energy monopoly Gazprom. With a Russian economy starting to decline, however, it may be Gazprom that's too strongly interconnected to the European market to break free.
There is only one certainty in Ukraine: The energy sector must and will be transformed, and how long this takes will depend on who ends up in the driver's seat and how serious they are about becoming a part of Europe and reducing dependence on Russia. But by then, investors will have missed the boat.
Only the fittest can survive in today''''s market for junior oil and gas companies, which must demonstrate a great deal of ingenuity in the balancing of risk and reward. Nothing but the most exceptional oil and gas projects will win capital, and, in the words of one junior, this means “finding plays before they are exciting.” Being a junior in this market means being the best of the best, or being shut out entirely. The question is: Who is up to this make-or-break challenge, and who has the secret weapons to take it on?
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