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Tag Archives: Oil

100 million barrels per day of global oil use likely

The world’s oil consumption will top 100 million barrels per day (bpd) in the next three months, putting upward pressure on prices. But emerging market crises and trade disputes could dent this demand, the International Energy Agency (IEA) said. Paris-based IEA maintained its forecast of strong growth in demand this …

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US puts the squeeze on Iranian oil buyers

The world’s top oil buyers are discovering that US sanctions on Iran will squeeze their trade flows whether they agree with America or not. It was only about three months ago that India’s foreign minister said that the country won’t adhere to unilateral restrictions and will continue buying Iranian crude. …

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Iraq restarts war reparations to Kuwait

Iraqi dictator Saddam Hussain has been dead for more than a decade but Kuwait is still receiving reparations for his 1990 invasion, with the latest tranche of $90 million (Dh330 million) approved on Friday. The payment was the first authorised by the United Nations Compensation Commission since 2014 when there …

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The rapprochement between India and Israel

By Geoffrey Cook*   The friendly ties between India and Israel are only about twenty years old whereas rapprochement  started haltingly five years earlier in 1992.  They have become most friendly with the rise of the Narendra Modi and his Islamophobic BJP (Bharatiya Janata Party) during 2014. Today their ties …

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Trump-appointed regulators reject plan to rescue coal and nuclear plants

The Federal Energy Regulatory Commission on Monday unanimously rejected a proposal by Energy Secretary Rick Perry that would have propped up nuclear and coal power plants struggling in competitive electricity markets. The independent five-member commission includes four people appointed by President Trump, three of them Republicans. Its decision is binding. At the …

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