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Global Energy Advisory 31st March 2017

UK Rig

Politics, Geopolitics & Conflict

• Brexit could be good for the UK’s oil and gas industry, according to some observers. The reason is that unlike the financial industry, which is much more globally interconnected, the oil and gas industry’s chief business is extracting commodities from reserves still abundant in the country. According to an expert from oil technology services firm Petrotechnics, Brexit will not be a big headache for UK oil and gas as the industry not only has the resources to develop but also the talent and skilled workforce to enable its development. This could prove to be true especially against the background of last year’s central government decision to allow fracking projects to proceed in Lancashire, despite local opposition, effectively pressing the start button of the shale oil and gas industry in the country.

• And Syria goes to … Russia (and Iran, with Turkey scrabbling for scraps in the background). The White House—via U.S. Ambassador to the UN, Nikki Haley—has indicated that pursuing the ouster of Bashar Assad is no longer on the agenda.

• If you think the long running saga of Russian-U.S. relations has dried up and died, it hasn’t. It’s not always making headlines because it’s too complicated for much of the mainstream media, but it’s come up again in the U.S. House Intelligence Committee hearing on alleged Russian interference in the U.S. presidential…

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