The many faces of Rosneft
Over the past decade or so, Russian oil giant Rosneft has concluded some eye-popping deals and more than doubled production. But its rapid growth has been based on questionable deals and huge debts. Behind the scenes, its CEO, Igor Sechin, has mastered Kremlin power plays. But his circle of enemies is growing. The future of Russia’s oil industry will hinge on how far he continues to push the envelope and whether Rosneft can overcome the legacy he has built.
From gas to governance: Mozambique’s slippery slope
Mozambique's dreams of gas riches moved closer to reality this month with the signing of an $8 billion LNG export project led by Italy’s Eni in cooperation with Exxon Mobil. The timing could not be better for a desperately poor country whose success story has gone sour amid a massive corruption scandal and aid cutoff. What happens next depends on whether Mozambique’s feuding parties manage not to blow this opportunity.
Mozambique looks for a way out of crises
Mozambique, once held up as a model country for the way it ushered in peace and reconciliation after a long civil war, now faces a new round of potential crises – from a huge corruption scandal, to fiscal instability, to a possible return of civil war. However, with new international investors in its natural resources and an incoming U.S. administration, momentum will likely be found to resolve these issues.
Russia's President Putin fails to turn up the heat on Azerbaijan
Russian President Vladimir Putin’s first visit to Azerbaijan in more than seven years reflected the complex and sometimes strained relationship between the two oil producing countries - highlighted by Azerbaijan’s westward-oriented energy focus. But Moscow is intent on continuing its efforts to keep Azerbaijan in its sphere of influence while sending out warnings t...
Kurdistan leads the way in expanding Iraq’s oil production
Iraq is being torn by sectarian strife, but its oil revenues serve as a political shock absorber, upholding the present political system. Expansion of oil production is slow and the autonomous region of Kurdistan is proving the most stable environment for Western companies. In the second of a two-part series, Professor Amatzia Baram looks at Iraq’s economy and says...
Russian gas giant Gazprom eclipsed as power swings to rival Rosneft
Gazprom once looked set to become the world’s largest company. But the Russian giant has failed to boost production and stubbornly refused to adjust to a changing market in which liquefied natural gas and shale gas have come to the fore. Now it could face penalties under European Union competition rules – and even if it avoids them, it may eventually have to compet...
Energy: Why Russia plays so tough on energy and prices
Russia's economy depends on its oil and gas revenues for its survival. It plays tough over long-term contracts to provide energy and it is not the easiest partner for foreign investors when exploring potentially rich areas. This GIS briefing gives an overview of our special reports on these fascinating subjects. REVENUES ...