energy policy Archives

Russia Signs Arms, Energy Deals with African Countries

24Oct

By Patti MohrNo Comments

Arms Sales, Military Industry, Diplomacy, Energy Policy, Oil & Gas, Geopolitics, Global Trade

Russia Signs Arms, Energy Deals with African Countries

October 24, 2019—In the first-ever Russia-African Summit being held this week in Sochi, Russia, Russia signed a series of memorandum of understandings and trade agreements with 54 African countries, the Moscow Times reported. The deals include $4 billion worth of Russian weapons, military helicopters, an investment cooperation deal on an oil pipeline, and potentially a nuclear power station in Ethiopia, according to the article. Debt Write-Off Russian President Vladimir Putin offered to write off $20 billion worth of African debt. Furthermore, he said he plans to double Russia's trade with the African continent within four to five years. Rosatom, a state-nuclear company is in talks with the government of Ethiopia to build a nuclear power station. The Russian enterprise already has...

U.S. Oil Production Surges as OPEC, Russia Plan Reductions

February 28, 2018--U.S. oil production rose to its highest level since 1970 last November, as the U.S. shale oil production continued to boom. The historic increase contrasted sharply with OPEC and Russian oil production, which is holding steady but expected to decease output to increase prices. U.S. production peaked at 10.057 million barrels a day in November and is expected to average 10.6 million barrels a day in 2018, according to a monthly review by the U.S. Energy Information Administration (EIA). That's roughly on par with oil production in Saudi Arabia and Russia. It is noteworthy considering that other oil-producing countries are planning reductions to try to boost prices. According to The Economist, Saudi Arabia needs oil prices to reach $70-80 a barrel to maintain a steady e...

China Outlines Goals for Arctic Trade Route & Development

As global warming melts thick ice in the Arctic, countries are increasingly staking out economic claims in the region. China is no exception. This month, China outlined its vision for creating a new trade route through the region and for developing its resources. In a new 12-page White Paper, China called itself as an "important stakeholder" in the region. As Near-Arctic State and a permanent member of the UN Security Council, China "shoulders the important mission of jointly promoting peace and security in the Arctic," the paper said. It is a significant policy statement on navigating the delicate environmental and diplomatic interests in the Arctic waters. As the ice melts in the region, the potential for international disputes over shipping and natural resources rises. Governi...