• 4 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 7 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 10 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 13 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 hours The 5 Scary New Rules Of Upside-Down Capitalism
  • 2 hours U.S. Shale To Break Records Despite Bearish Rhetoric
  • 1 hour Winter Storms Hitting Continental US
  • 7 hours Hydrogen Hurdles in Japan
  • 21 hours More dumbed down? re Hong Kong Act of Congress
  • 14 hours Conoco next gen test wells Vintage 5 (V5) 20% recovery and say " We can do even better "
  • 13 hours PennEast Appealing Wacky 3rd Circuit Decision to Supreme Court
  • 1 day U.S. Shale Output may Start Dropping Next Year
  • 11 hours Aramco IPO magic trick
  • 23 hours Petroleum Industry Domain Names
  • 16 hours Impeachment S**te
  • 14 hours Contaminated Oil
  • 14 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 1 day Crazy Stories From Round The World
  • 14 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018

Global Energy Advisory - 29th August 2014

Geopolitical/Conflict Developments

Iraqi Oil Update

Iraqi government forces have reportedly thwarted another attempt by the Islamic State (IS) to take over the Baiji refinery in northern Iraq. This refinery accounts for around one-third of Iraq’s total production, but produces for the domestic market, not exports. Key producing fields, for exports, in the south remain unaffected so far by the IS advance. In the meantime, Iran has come out with clear support for new Iraqi Prime Minister, Shi’ite Haider al-Abadi, after the ouster of Nouri al-Maliki.  Iran has also been providing Iraqi Kurdish forces with weapons to fight back IS in the north, bringing Iranian and American short-term intentions here in line with each other, which has a number of geopolitical implications further down the road, especially for the Saudis.

IS militants have managed to take control of some areas on the edge of territory controlled by the Kurdistan Regional Government (KRG) in the north, but have not yet breached this official territory and their advances have been limited to the disputed territories of Northern Iraq. The supply of weapons from Iran and the potential for US air strikes against IS should the Kurds require this, leads us to believe that Kurdistan will be difficult to breach.

At the same time, as we expected, the Kurdistan Regional Government (KRG) has won a victory over its $100 million in crude stranded offshore Texas, as a judge threw out the…




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