looking beyond borders

foreign policy and global economy

Archive for the tag “crude”

Iran: New President, New Reforms

When Hassan Rohani won Iran’s presidential election in June, he garnered more votes than his predecessor did when he swept to power eight years before. The 64-year-old lawyer, cleric, and former diplomat will take on an economy that under President Mahmoud Ahmadinejad was defined by falling oil exports because of international sanctions, accelerating inflation, a currency collapse, and stubbornly high unemployment.

Read Here – Businessweek

New Energy To Russia-China Ties

Russia has consummated some huge energy deals with China in recent weeks. These deals are – or at least are being advertised as – major steps forward in the Russo-Chinese energy relations, Russia’s pivot to Asia – which uses big energy sales to upgrade its influence and standing – and the development of the energy base in Eastern Siberia, the Arctic and the Far East.

Read Here – The Diplomat

Asia is Purchasing Nearly all of Iran’s Oil

Four Asian countries are now purchasing nearly all of Iran’s oil exports according a report this week from the Economist’s Intelligence Unit (EIU).

“Almost all of Iran’s oil exports now go to China, South Korea, Japan and India,” the report said even as it noted a sharp decline in the amount of oil each country purchased from Iran during 2012.

Iran’s oil exports have been cut in half as a result of U.S. and EU sanctions that were enacted last year to pressure Tehran into making concessions on its nuclear program, which the West believes is aimed at acquiring a nuclear weapons capability but Iran claims is intended solely for peaceful purposes.

Read Here – The Diplomat

China’s Oil Quest Comes to Iraq

A lot of attention has been paid in recent years to energy-hungry China’s billion-dollar bids on oil fields in Canada and the Asian giant’s reliance on oil from countries like Iran and Sudan to fuel its growing economy. But its growing interest in another major oil producer has gone largely unnoticed, and if current trends continue, that Middle Eastern country could become the world’s next “oil superpower,” with China, not the West, acting as both Iraq’s main partner and top beneficiary of its rich resources in what some now call the B&B trade axis (Beijing and Baghdad).

Read Here – The Diplomat

China’s State-Owned Enterprises Not The Villains We’ve Been Told They Are

Like many of you I am eagerly awaiting the new James Bond film Skyfall, especially Javier Bardem’s star turn as Raoul Silva, the classic Bond villain with his outlandish plot to pay 60% over market price for a Canadian oil company.

No, wait, that’s from the business pages, isn’t it? You’ll forgive me: the stories sound so similar — or at any rate they’ve been made to sound similar. The casual reader would be convinced the $15.2-billion bid from China’s CNOOC for Canada’s Nexen, far from enriching Nexen’s shareholders and indirectly other Canadians, posed some dire threat to the country, if not the planet: part of some fiendish Chinese plan for world domination, possibly involving lasers.

Read Here – National Post

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