Turkish energy company Unit International, Russia’s Zarubezhneft, and Iran’s non-governmental firm Ghadir Investment Company have pledged to invest a combined US$7 billion to drill at three oil fields and one natural gas field in Iran, the Turkish company said on Tuesday.
The investment commitment comes just a week after Ghadir Investment signed a deal with Zarubezhneft and Unit International to finance and develop oil and gas projects in and outside Iran.
The three companies agreed to set up joint ventures to fund oil and gas development projects, with Ghadir Exploration and Production Company leading the consortium in which each company would have equal share of the financing.
According to Unit International, as cited by Reuters, the total reserves at the three oil fields are estimated at 10 billion barrels, and the fields would be able to pump 100,000 bpd… read more
GUARENAS, Venezuela — Five years ago, when Hugo Chávez was president and Venezuela was a much different place, Ana Margarita Rangel could still afford to go to the movies and the beach, or to buy the ingredients she needed to bake cakes.
Even three years ago, when the country’s economy was beginning a severe contraction, Rangel earned enough for an occasional treat such as soda or ice cream.
Now she spends everything she earns to fend off hunger. Her shoes are tattered and torn, but she cannot afford new ones. A tube of toothpaste costs half a week’s wages.
“I’ve always loved brushing my teeth before going to sleep. I mean, that’s the rule, right?” said Rangel, who lives in a hillside slum 25 miles west of Caracas, the capital, and works in a cosmetics factory down in the suburban city of Guarenas.<!–more–>
opinion: They should not be suffering for food, but that is not a fact. The fact is they are suffering and why? Did you know Venezuela has the LARGEST oil reserves. They rank number 1. So what is going on with Venezuela and do you believe it could happen in your country?
Their current president is keeping food and medicine from coming in, WHY?
“Now Maduro doesn’t want that because he says everything is perfect in Venezuela, but that’s not true, everybody knows that,” he said in a recent television interview. “And the second thing is there has to be pressure in a nice way, without trying to interfere too much. There has to be some kind of moral persuasion.”<!–more–>
Now he is asking for help concerning medicine but not food, WHY? Pray for them and pray they seek and cry out to the Lord God Almighty!
If you have any further updated news please post your comment below.
- Russia has unveiled five-storey military base on Alexander Land in the Arctic Ocean’s Franz Josef Archipelago
- The top-secret polar complex, painted in Russia’s red, white and blue, can house warplanes and 150 troops
- Comes as Russia looks to lay claim to region’s enormous oil and gas reserves thought to be worth £23trillion
Russia has unveiled a new Arctic military base capable of housing 150 troops as well as nuclear-ready warplanes.
The triangular complex, painted in the red, white and blue of the Russia’s tricolor flag, has been built in remote Alexandra Land in the Franz Josef Archipelago.
While parts of the base remain top secret, military chiefs have offered a glimpse at the interior of the building.
It comes as part of Russia’s largest Arctic military push since the fall of the Soviet Union and as Moscow moves to lay claim to the region’s huge oil and gas reserves – believe to be worth as much as £23trillion…. read more
In a troubled oil world, the Permian Basin is the gift that keeps on giving.
One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed, according to the U.S. Geological Survey. At current prices, that oil is worth almost $900 billion.
The estimate lends credence to the assertion from Pioneer Natural Resources CEO Scott Sheffield that the Permian’s shale could hold as much as 75 billion barrels, making it second only to Saudi Arabia’s Ghawar field. Irving-based Pioneer has been increasing its production targets all year as drilling in the Wolfcamp produced bigger gushers than the company’s engineers and geologists forecast.
“The fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more,” Walter Guidroz, coordinator for the geological survey’s energy resources program, said in the statement…. [read more]
Saudi Arabia has warned Donald Trump that the incoming US president will risk the health of his country’s economy if he acts on his election promises to block oil imports.
In a sign of the difficulties Mr Trump faces over his campaign pledges to create “complete American energy independence” from “our foes and the oil cartels”, Saudi Arabia’s energy minister pointedly reminded the president-elect that the US “benefits more than anybody else from global free trade”, adding, “energy is the lifeblood of the global economy”.
“At his heart President-elect Trump will see the benefits and I think the oil industry will also be advising him accordingly that blocking trade in any product is not healthy,” Khalid al-Falih, who is also chairman of Aramco, the state-run oil company, told the Financial Times in Marrakesh, where he is leading Saudi Arabia’s delegation in UN climate talks…. [read more]
article: Permian’s Wolfcamp formation called biggest shale oil field in U.S.
Kurdish General. Mariwan Mohammed
No one doubted that the US-Iraqi-Kurdish offensive to liberate Mosul would be drawn out and fraught with unforeseen setbacks before the Islamic State was finally thrown out of its Iraqi capital. But on Oct. 21, five days into the Mosul operation, the ISIS terrorists landed their most severe blow, when Islamist fighters and suicide bombers suddenly hurled themselves on the Iraqi oil city of Kirkuk in a coordinated attack. DEBKAfile’s military sources report that taking advantage of a chance to catch the US, Iraqi and Kurdish generals leading the attack on Mosul unawares, the Islamist fighters were able to open a second front to the rear of the main battle arena against ISIS.
Kirkuk is some 175km southeast of Mosul and 230km from Baghdad. By hitting this important oil city, the terrorists came close to enough to menace the autonomous Kurdish Regional Government region and its capital, Irbil, and expose the Kurdish Peshmerga troops fighting for Mosul.
Our military sources note that a large Peshmerga force of some 11,000 troops had been posted to secure the town and its oil fields, under the command of Gen. Mariwan Mohammed. But then, on Wednesday, Oct. 19, the US-Iraqi-Kurdish joint command of the Mosul offensive decided that Kurdish reinforcements were necessary to provide the operation with greater impetus. The extra Peshmerga troops were accordingly ordered to set out from Khazar, 40 km east of Mosul, and join the coalition offensive.
However, what they missed, despite the mainly American spy satellites, drones and reconnaissance planes collecting intelligence, was an ISIS concentration clandestinely building up at Hawja, 57km east of Kirkuk. According to our military sources, some of the jihadists reported by the Western media to have turned tail on the run from Mosul had been gathering to the southeast, some 57km from Kirkuk. They stood ready to attack that town. Their opportunity came when the large Kurdish group exited Kirkuk and headed out to Mosul. Kirkuk was left exposed without defenders. Friday morning, the Islamic State launched its surprise attack on the defenseless oil city. Its fighters and suicide bombers slammed into four police stations, Kurdish security offices, residential neighborhoods and a power station to the north. Clashes continued during the day with unknown casualty figures on both sides.
At some point, the governor claimed control of the city was regained but residents reported the clashes continued. ISIS said in a statement it had seized “half the city” and had also attacked the Dubiz power plant, killing all the security forces inside, but the claims were not possible to verify…. [Full Source by Debka]
No fiction peddling will be allowed at Obama’s speech taking place in Elkhart right now, where the president is delivering his well-oiled sermon on how “the economy is better off now than at the start” of his presidency…. Just ignore the facts.
The world’s most endangered sea turtle, the Kemp’s Ridley, suffered a 34 percent decline in the number of nests laid in 2015 compared to the year before the BP oil spill, according to a new study authored by scientists at the University of Alabama at Birmingham.
The study analyzes both the recent decline, seen since 2010, and a stunning and massive 99 percent drop in the overall population between 1947 and 1985. The status of the present population is measured against a historic estimate based on film footage shot on a Mexican beach in 1947.
That footage is simply astounding. In it, tens of thousands of Kemp’s ridley turtles are seen lumbering from the sea en masse to nest in an aggregation called an arribada. The camera pans up and down a beach crowded with turtles that the animals have a difficult time finding an open spot to dig a nest. In some of the shots, the turtles are barely visible due to all the sand being thrown in the air by their digging. The turtles stretch off in the distance, as far as the eye can see…. [read more]