Saudi Arabia’s “Inconvenient Truth”

February 9, 2011By Andy RowellBlog Post, Featured

New documents released by Wikileaks reveal that for over three years the Americans have been worried that Saudi Arabia may have overstated its reserves by 40 per cent or some 300bn barrels. The fact that Saudi Arabia may be overstating its reserves its nothing new, but many consider it the elephant in the room for … Read More

Oil “Dominating” Iraqi Election Campaign

March 2, 2010By Andy RowellBlog Post

So seven years later it will come down to this weekend.  Whether President Obama can withdraw all American combat troops from Iraq by August will be decided by the Iraqi elections this weekend. If the election passes off peacefully, American soldiers will probably go home on schedule. But if there is a repeat of the … Read More

Shifting Geo-Politics not Good for the Climate

February 22, 2010By Andy RowellBlog Post

Change may only happen in small steps, but slowly and surely the geo-politics of oil are changing. The dynamics of Middle Eastern oil are in transition. Anyone who argued that the war in the Gulf was a war about oil should sit up and take notice.  And anyone concerned about the climate should also be … Read More

De-dollarisation of Oil Market by 2018

October 7, 2009By Andy RowellBlog Post

Sometimes a story grows legs, other times it hits the dust. But yesterday’s front page story in the Independent about negotiations to end oil trading in dollars seems to have hit a raw nerve and sent shock-waves through the currency markets. In response to the story, gold is now trading at record levels and the … Read More

Oil Traders to Ditch the Dollar…

October 6, 2009By Andy RowellBlog Post 12 Comments

The dollar is sliding on the currency markets this morning after reports by the Independent newspaper that Arab states are in secret talks with China, Russia and France to stop using the US currency for oil trading. The move – if it happens – would be the most profound financial change in recent Middle East … Read More

The Great Gazan Gas Robbery

June 18, 2009By Andy RowellBlog Post 1 Comment

As Iran continues to grab the headlines coming out of the Middle East, the Obama Administration is said to be quietly pushing Israel to soften its stance on Gaza to relax its vice-like grip on the border crossings, in order to ease the growing humanitrian crisis. Any diplomatic initiative by Obama that lessens the suffering … Read More

Now the Gas Dries up…

May 19, 2008By Andy RowellBlog Post 1 Comment

Two different stories from separate parts of the world, but one underlying trend that signals just how bad the energy crunch has become. It may be the price of oil that is grabbing the headlines but you should also keep an eye on what is happening to gas. The Emirates may have been built on … Read More

Guns for Oil?

April 25, 2008By Andy RowellBlog Post 2 Comments

A group of US senators is pressing President Bush to halt billions of dollars in sophisticated arms sales to Saudi Arabia and several other Gulf oil producers unless they agree to pump more oil. The senators said if Saudi Arabia does not increase production, they would seek a resolution that would block the arms deals. … Read More