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The curious case of oil-on-water
The market is facing being drowned in excess crude, but one caveat is that a large chunk is due to buyers reluctant to snap up sanctioned barrels
Turkmenistan's pipe dream
Construction of the pipeline in Afghanistan is making tangible progress, but extending it into Pakistan and India remains unrealistic for political reasons
MENA states sharpen their gas focus
The GCC countries and other states in the region are looking to make greater domestic use of gas, both that produced at home and imported volumes
Letter from Azerbaijan: Net-zero strategy to reshape South Caucasus
ExxonMobil’s MOU with SOCAR, unveiled in Washington alongside the peace agreement with Armenia, highlights how the Karabakh net-zero zone is part of a wider strategic realignment
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
Israel-Iran war imperils Egypt’s energy supply
Egypt’s government was already preparing for potential energy shortages this summer, and the loss of Israeli gas supply has made things worse
The oil risk premium fable
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
Azerbaijan enjoys rare upstream FID
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
Iraq seeks alternatives to Iranian gas
The country is facing energy shortfalls this summer amid reduced Iranian gas imports and difficulties leasing an FSRU
Is a Russia-Iran gas deal on the horizon?
Russia has ample spare gas, and Iran needs it, but sanctions and pricing pose steep hurdles.
Kazakhstan Turkmenistan Iran Azerbaijan
Ian Lewis
17 August 2018
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Caspian neither a sea nor a lake, apparently

An agreement of sorts has been reached on how to carve up the Caspian

The five countries bordering the Caspian Sea have come up with a fudged definition of its status, which while potentially confusing, has at least broken an impasse over how to divide up its waters and seabed. In doing so it could jolt some stalled oil and gas developments back into life. For years, the nations around the Caspian have haggled over whether the world's largest inland body of water should be classified as a sea or a lake. In the end, following a mid-August meeting in the Kazakh port of Aktau, those countries - Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan—agreed that it should be classified as neither and be subject to a special set of rules. It's not an academic exercis

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