April 2015

Ukraine is facing a huge energy-security challenge. It is dependent on Russia supplying most of its natural gas as well as uranium fuel for its nuclear reactors.

The Russian government is requesting that state-owned gas giant Gazprom provide discounted gas to the struggling government in Ukraine.

Turkey and Greece are back under the spotlight as Russia’s Gazprom restated the importance of Turkish Stream for Greece’s energy security, while the Turkish Cypriot and Greek Cypriot leaders openly referred to the opportunity of resuming negotiations about the future of the Mediterranean island.

Talks between the P5+1 nations and Iran have failed to reach a conclusive outcome by the self-imposed 31st March deadline. The P5+1 nations and Iran have extended talks for a further 24 hours, in the hope that an outline agreement over Iran’s nuclear programme could be reached.

Based on crude oil market assessments in the Short-Term Energy Outlook, EIA estimates that members of the Organization of the Petroleum Exporting Countries (OPEC), excluding Iran, will earn about $700 billion in revenue from net oil exports in 2014, a 14% decrease from 2013 earnings and the lowest earnings for the group since 2010.

With Saudi Arabia reluctant to cut production, crude oil prices over the next decade depend greatly on producers’ costs, says a veteran observer of oil markets and the Middle East.

Chinese oil and Gas companies have expressed keen interest to make contribution in the oil and Gas sector of Pakistan to cater the growing demand of the country.

Eni, following its participation in the competitive International Bid Round launched by the Republic of the Union of Myanmar, signed two Production Sharing Contracts (PSC) for offshore blocks MD-02 and MD-04.

France’s Total is seeking arbitration for a tax dispute with the Ugandan government tied to the company’s acquisition of stakes in three exploration blocks.

Despite the recent Memorandum of Understanding (MoU) between Rosneft and Golar LNG, the former’s current gas strategy is narrowly focused on developing domestic reserves and initiating Liquefied Natural Gas (LNG) projects in Russia.