... Bashneft in 2016 and thus strengthened its position, participates in the development of blocks 8, 9, 10, 11 and 13, as well as in the Block 12 project. At the same time, some companies plan to expand their activities in Iraq, and a number of other Russian oil and gas companies are interested in starting such work. The total investment of Russian companies in Iraq exceeds $13 billion.
Iraq itself continues to be subject to the dynamics of the US confrontation with Iran, and it remains unclear if the upcoming change in US president will open a new chapter.
First published in
Al-Monitor
.
... Iraq, Lebanon and Yemen. It is the modern “Cold War” of the Middle-East. One of the reasons Saudi Arabia did not join the Astana initiative is that Iran is a founder. The Saudis does not fear a Russian influence in Syria, but they rather fear an Iranian one. Plus, Russians and Saudis have a lot to discuss and cooperate such as Oil and Gas markets, they have to deal openly at some point. It is in none favour to go into a confrontation in Syria or the Middle-East. As a result, the Saudis had started to view the Russian role in the Middle-East as stability guaranteer. The Saudis also ...
Following the drop in oil prices and the souring of US-Saudi relations, there have been increasing signals of rapprochement between Russia and Saudi Arabia. Both countries' senior representatives have been voicing intentions to strengthen energy cooperation. Could this lead to a new oil-and-gas friendship?
Oil market regulation
Judging from the
agreements
reached recently ... ... between Saudi Arabia's position, advocating a freeze on oil production, and the plans by Iran and Iraq to increase output. It was the Saudis' unwillingness to agree a freeze...
