Bill O’Grady, chief market strategist at Confluence Investment Management, talks with Bloombergs Mark Crumpton about drivers of the oil market and the outlook for prices. O’Grady also discusses the appeal of investing in commodities over currencies in the current environment. (Source: Bloomberg)
On this week’s episode of Fault Lines Josh Rushing travels to Northern Iraq to look at one of the most serious divides that the country faces. Arabs and Kurds have been facing off in the North over issues such as land, oil and power.
Chevron successfully signed a deal with Japanese utility Kyushu Electric Power to supply liquefied natural gas (LNG) from its Gorgon and Wheatstone projects in Australia. Some news from London, Rockhopper has been formally assigned two slots with the Ocean Guardian drilling rig to drill the Sea Lion and Ernest prospects during its forthcoming drilling campaign in the Falklands.
Rosneft geologists discovered a large new oilfield within Mogdinsky and East Sugdinsky license areas in Katangsky District of Irkutsk Region (East Siberia). Rosneft obtained the licenses for both plots through the auction in 2006. Royal Dutch Shell’s apparent change of investment emphasis away from the oil sands could put future Canadian projects in jeopardy.
It may be just 21 miles wide but the Strait of Hormuz is one of the world’s busiest shipping lanes for oil exports from the Gulf. It’s thought up to 40% of the world’s oil passes through the waterway. But Tehran is threatening to close the Strait, if it’s attacked by the United States. The move could cripple oil exports from the region and send prices soaring, as Ben Thompson now reports from Kuwait.
The Oil and Natural Gas Corporation Limited (ONGC) has recently started a major oil exploration drilling off Kochi coast, which can give a major boost to Keralas industrial prospects of the entire country.
Feb. 15 (Bloomberg) — Bloomberg’s John Cookson reports on the search for oil off the Falkland Islands and the dispute between the U.K. and Argentina over the territory.
