• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 7 mins The Discount Airline Model Is Coming for Europe’s Railways
  • 19 hours Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 14 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 6 hours Pakistan: "Heart" Of Terrorism and Global Threat
  • 18 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 1 day Corporations Are Buying More Renewables Than Ever
  • 5 hours Saudi Fund Wants to Take Tesla Private?
  • 9 hours Venezuela set to raise gasoline prices to international levels.
  • 6 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 15 hours Starvation, horror in Venezuela
  • 5 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 20 hours Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 21 hours France Will Close All Coal Fired Power Stations By 2021
Alt Text

Oil Falls Despite Crude Inventory Draw

Oil prices fell on Wednesday…

Alt Text

Is This Europe’s Newest Oil & Gas Producer?

Portugal has a troubled oil…

Alt Text

Why Is Big Oil So Excited About Alaskan Crude?

Alaskan officials have just published…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Bosnian Federation: Oil Legislation Sets First Concessions in Motion

Earlier this year we let you in on a little known secret about an up-and-coming oil venue in an unlikely corner of the world—Bosnia and Herzegovina. The paralytic “multi-ethnic” government and three-headed, rotating presidency of Bosnia is not known for its ability to pass key legislation. Indeed, since the war ended various governments have not passed any key legislation--except to abolish the death penalty, which for obvious reason transcended “ethnicity”—without direct intervention by the “international community”.  However, as we predicted, oil legislation, which is in everyone’s interest here, would be passed before the end of the year.

That time has come.

The oil legislation was adopted by the Federation parliament on 17 September, and the Energy Ministry of Bosnia’s Federation entity has now been given permission to start granting concessions for exploration and production of oil and gas through direct negotiations. For this initial stage, it’s all about Royal Dutch Shell, which already has a memorandum of understanding going back to 2011 and will likely be the sole recipient of a concession at this point. That MOU duly noted that “based on practical estimates conducted by Shell... their representative will... negotiate on one or more concessions, licenses or agreements…[and]  Shell could have exclusive rights to exploration, estimation and possibly commercial development…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News