Iran clears path to global markets

Iran’s 290-member Majlis approved a bill on October 13 to accept the historic deal on Iran’s nuclear energy program agreed with the international community in July. The Guardian Council must still ratify the bill before sanctions can be lifted and it is not entirely clear this sanctions-free era will begin. […]

Eni’s East-Med game changer

THE phrase ‘game-changer’ was used often for East Mediterranean energy prospects. That was before Israel slammed into a regulatory brick wall and Cyprus discovered a couple of dry holes – never mind Lebanon’s political imbroglio and its stalled licensing round. But then Eni found the huge Zohr gas field in Egypt’s offshore […]

Israel cabinet yields to gas cartel

Bureaucratic regulatory shenanigans in Israel all but killed development of the country’s vast offshore gas fields this year. Chief editor and energy expert Gary Lakes reports on a controversial blueprint that has now emerged from a shambles that caused Huston’s Noble Energy to down tools, Australia’s Woodside Petroleum to stomp away from a […]

Another Greek disaster?

  There’s one more Greek disaster in the making as the nation rumbles steadily toward financial collapse. The new dark cloud is the current licensing round for the exploration and exploitation of Greek offshore hydrocarbon resources. Soundings just made by Global Sources Magazine suggest that the ministry of energy could find itself […]

Hope rebounds for East-Med energy

Energy euphoria in Cyprus and Israel quickly fizzled out in gloom, dry wells and acrimonious political and business wrangling. Now however, Global Sources chief editor Gary Lakes discovers that Aphrodite is back, and commercial, and has plans. The wily goddess has a new smile and yes, new energy. IN Cyprus […]

Azerbaijan’s false Euro-mask

FROM ancient times Azerbaijan was famed for its “burning rocks” and in the 19th century oil men and companies made careers and fortunes from easily accessible crude oil. After being freed from Soviet domination in 1991, the Caspian Sea state invited Western oil companies to pump and export huge volumes […]