Pages, tagged as «oil»
The US-Russia petroleum industries competition from a historical perspective
The USA seeks to oust Russia from the world energy markets
Oil prices: no reason for panic
It is unlikely that dollar-to-ruble rate will remain at the level of 75 rubles per one dollar, RISS expert Mikhail Belyaev believes. But the ruble is also unlikely to return to 60 rubles per dollar exchange rate. "The fact is that the ruble is based on a not very robust economy. The economic growth rate fluctuates in the range of 1-2%, which means that the ruble doesn't have a solid foundation. The price of Russian currency can very easily slip out of balance," he said.
Russia has no plans of tightening security in Strait of Hormuz
Moscow is not planning to beef up its military presence in the Strait of Hormuz in the wake of the recent oil tanker attacks, Russian State Duma (lower house of parliament) Defense Committee Chairman Vladimir Shamanov told Izvestia. According to him, Russian vessels are not in jeopardy and therefore there are no grounds for tightening security. Meanwhile, the United States, the United Kingdom and Saudi Arabia have deployed additional forces to the Gulf of Oman, supposedly to protect their vessels from the Iranian threat.
Forcing Iran into a corner, US risks igniting the Middle East
It’s starting to look like the Persian Gulf has a small tanker war in the making, RISS expert Elena Suponina pointed out. "Of course, it is not the Iran-Iraq war of the 1980s. But the current situation is very dangerous. Washington immediately blamed Tehran for attack on oil tankers. But such a tanker war is absolutely unconvenient for Iran," she said.
Oil tanker incident heats up tensions between US, Iran
From now on, all oil tankers passing through the Strait of Hormuz are going to have additional security, and maritime patrols in the region are going to be beefed up, Izvestia learned from a source in Norway’s Frontline company, whose Front Altair oil tanker was one of the two vessels that had come under attack in Iran’s territorial waters on Thursday. However, experts interviewed by the paper say it is too early to blame the incident on Tehran.
New Delhi’s approach towards U.S. sanctions not in India’s national interest: Experts
India has come under blistering criticism for reportedly buckling under the enormous U.S. pressure over import of crude oil from Iran. India, along with China and Turkey, are three largest buyers of Iran’s oil. Unlike India, Ankara and Beijing, in a rebuke to the U.S., have refused to cut oil imports from Tehran.
On the situation of the world oil market
Oil traders are pessimistic about the prospects of rising oil prices