Tag: control of oil

South Asia
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tehr3

A suicide bomber killed at least 130 at a campaign rally in Pakistan's Balochistan province— the deadliest attack in the country since 2014. A local candidate with the Balochistan Awami Party was among the dead. The local franchise of the Islamic State took credit for the attack. Radio Free Europe portrays the BAP as part of the Pakistani military establishment’s plan to undermine Baluch ethno-nationalist groups. Balochistan province is part of the larger region of Baluchistan, homeland of the Baluch people, long divided between Iran, Pakistan and Afghanistan. There are movements for Baluch independence in each of these countries, but they have been unable to unite across the nation-state boundaries. The attack may point to an ISIS strategy to disrupt electoral ethno-nationalist initiatives, and co-opt the Baluch struggle across all three borders, wedding it to Sunni extremism. (Map via Atheer)

North America
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oxy

In what the New York Times somewhat hyperbolically calls a "clash," US Border Patrol vessels have over the past two weeks stopped at least 10 Canadian fishing boats in the Bay of Fundy between Maine and New Brunswick. Canada has responded by beefing up its Coast Guard patrols in what is being termed a "disputed gray zone" between the two countries' territories. The maritime dispute dates back to the 1783 Treaty of Paris that ended the American Revolution, and is one of several between the US and Canada—including fishing waters at Dixon Entrance between Alaska and British Columbia, and areas of the petroleum-rich Beaufort Sea, near the Arctic Ocean. (Map: ResearchGate)

North Africa
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uwa

Oil prices rose above $75 a barrel for the first time since November 2014, as Libya's National Oil Corporation declared force majeure at its principal oil ports, which continue to be battled over by rival armed factions. Prices for West Texas Intermediate crude rose to $75.27 a barrel before dropping back down to $72.73. After years of depressed global oil prices, analysts are again talking of a possible new "oil shock." Growing tensions between the US and Iran, and other factors, were also cited. Libya's Union of Oil and Gas Workers meanwhile issued a statement saying that the country's oil is the collective property of all Libyans, and should be removed from all political, regional and tribal disputes. (Photo: Libya Observer)

Africa
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Will Sudan’s child soldiers demobilize?

South Sudanese President Salva Kiir and his bitter rival and former vice president Riek Machar, now leader of the SPLM-IO rebels, met in the Sudanese capital Khartoum to sign a "permanent" ceasefire agreement, pledging to form an inclusive transitional government. The parties agreed to open humanitarian corridors, release detainees, withdraw troops and militarily disengage. The transitional government is to form a national army and security forces not linked to tribalism. However, the challenges for the 36-month transition period are great. Millions in South Sudan are on the brink of famine, and more than 2.5 million have fled the country. Hundreds of thousands more—mostly members of minority ethnic groups—are internally displaced, with many sheltering in camps administered by the United Nations. Previous efforts at a negotiated peace have broken down. (Photo: Sudan Tribune)

Greater Middle East
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Tuaregs flee Mali

Bashar Assad arrived in Russia to publicly thank Vladimir Putin for his military support in the ongoing re-conquest of Syria—prominently including the deployment of new missile systems. Undoubtedly discussed behind closed doors was the  new "energy cooperation framework agreement" between Moscow and Damascus, under which Russia is to have exclusive rights to exploit oil and gas in Syria. (Photo of Vityaz missile launcher via Wikipedia)

Iran
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Tulku Phurbu Tsering Rinpoche

After all the talk we've heard in recent years about how depressed oil prices are now permanent, in the wake of Trump's announced withdrawal from the Iran nuclear deal Bank of America is predicting that the price of Brent crude could go as high as the once-dreaded $100 per barrel in 2019. The report also cited collapsing production in Venezuela due to the crisis there. Brent prices have risen above $77 per barrel since Trump's announcement. Prices have jumped more than 8% over the past month and 15% since the beginning of the year. According to the analysis, investors fear that renewed sanctions on Iran could lead to supply disruptions. Although the report failed to mention it, the Israeli air-strikes on Iranian targets in Syria have doubtless contributed to the jitters.  (Photo: Shana)

The Andes
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Marcos in Manhattan

Seemingly irregular oil contracts have emerged as a factor in the ongoing political scandal that last week brought down Peru's president Pedro Pablo Kuczynski. Following accusations from left-opposition congressmembers, state agency PeruPetro admitted that hours before leaving office, Kuczynski had issued a Supreme Decree initiating the process of approving five offshore oil concessions with a private company—but without the involvement of PeruPetro in vetting the contracts, as required by law. Calling the deals "lobista," Dammert is demanding that new President Martín Vizcarra declare the contracts void. (Photo: Gestión)