Syrian oil ministry announces oil shale tender

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Oil shale deposits in Syria. Syria started research and exploration on oil shale in the 1950s, said Majid Gerjes, Exploration Director, The General Establishment of Geology and. Established by Egypt, Jordan, Morocco, Syria and Turkey in partnership with regional and international companies, the centre aims to develop a joint environmental and energy framework, establish common standards for studying and utilizing oil share resources, and attract investors in the sector.).

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Opinion: Is Russia Plotting To Bring Down OPEC?

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President Putin’s recent moves in the Middle East—to shore up Bashar al-Assad’s regime in Syria through deployment of combat aircraft, equipment, and manpower and build-out of air-, naval-, and ground-force bases, and the agreement in the last week with Iran, Iraq, and Syria on intelligence and security cooperation—could contribute to Russian efforts to combat the myriad negative pressures on Russia’s vital energy industry. by Dalan McEndree for Oilprice.com.

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Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. In October, Saudi sources first prepared the market with statements that the country would be comfortable with oil prices as low as $80 per barrel for “a year or two.” Prices rebounded to $60 for a few months, before falling once again below $50.

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What Does The Next OPEC Meeting Have In Store?

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The 2 June 2016 OPEC meeting will be held amid a backdrop of oil prices near $50 per barrel, a sharp drop in Nigerian production due to sabotage, turmoil in Venezuela, Saudi Arabia operating with a new oil minister, and Iran aggressively pumping close to pre-sanction levels. Iran has increased its market share in the excess supply environment by offering large discounts , undercutting the Saudi and Iraqi prices for their deliveries to Asia. by Rakesh Upadhyay for Oilprice.com.

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