• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 10 hours Biden admits he has been tested for Cognitive Decline several times. Didn't show any proof of test results.
  • 2 hours Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 1 hour During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 12 hours Apology Accepted!
  • 4 hours Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 15 hours U.S. natural gas at major disadvantage in Europe and China.
  • 16 hours Biden came out of his basement today (Thursday) and said , "we have 120 Million deaths from Covid 19.
  • 3 hours Why Oil could hit $100
  • 4 hours The Political Genius of Donald Trump
  • 16 hours Putin Paid Militants to Kill US Troops
  • 21 hours CoVid in Spain, 9 months before China
  • 21 hours Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
  • 21 hours The world is headed for big problems - interview with very smart economist

Breaking News:

OPEC Production Falls To Three Decade Low

The New Oil Reality In Syria

The Turkish Gambit

It’s official: Syrian Kurdistan has ceased to exist. Turkey and Russia have cut a deal that will allow Turkey to occupy a buffer zone in northern Syria, and that’s where the Turkish gambit ends. That buffer zone accomplished two things: It removed the Syrian Kurdish threat to Turkey’s border and created a space for Turkey to relocate Syrian refugees.

Syria’s oil will now go to Assad, keeping in mind that Russia has exclusive E&P rights. The largest oilfield, Al Omar, was nominally under the control of the US and the Syrian Kurds until last week. While the Pentagon has said it is possible that some US troops will stay behind to protect this oilfield, that seems increasingly unlikely and unfeasible.

Now, assuming the remaining players on this field can fight back an ISIS re-emergence, the oil and gas will be Assad’s - and Europe will want it.

This is the point where we get to see that geopolitical and military alliances such as NATO have lost their relevance to natural resources.

What will emerge out of this rubble is a new Syria, thanks to NATO-member Turkey, that - after a couple of hundred billion dollars in reconstruction - will emerge as a supplier of oil and gas to the European Union, and everyone will pretend that this isn’t Gazprom, again. But it will be. Not only will Assad get his oil back, but Iran, Iraq and Syria will get a new Russian-backed pipeline that will further undermine…




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