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Showing 13151 results for Basra Oil Co sorted by

SnapshotsSep 25, 2020 | 17:42 GMT
In Kuwait, a Blocked Debt Law Portends a Dissolved Parliament
Kuwait’s pandemic-related financial struggles may force its leader, Emir Sheikh Sabah Al Ahmad Al Sabah, to bypass the country’s legislative process in order to push through a crucial debt law that remains locked in parliament. The need to enact other overdue reforms may also tempt Al Sabah to extend a potential parliamentary suspension -- a politically risky move that would also require suspending Kuwait's constitution. On Sept. 23, Moody’s Investors Service downgraded Kuwait's sovereign credit rating for the first time to “A1,” citing the country's liquidity crisis that has been brought on by low oil prices due to the COVID-19 pandemic. In its announcement, Moody’s also specifically referenced the Kuwaiti government’s failure to pass a debt law that would help mitigate the country’s current financial woes by enabling its finance ministry to issue sovereign bonds.
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SnapshotsSep 22, 2020 | 22:24 GMT
Reading the Fine Print of Angola’s Debt Restructuring
The International Monetary Fund (IMF)'s recently announced $1 billion disbursement to Angola is based partly on China indicating a willingness to defer 2020 debts. But Beijing's creditor role may be complicated by possible efforts to take an equity stake in some of the Southern African country's oil fields. And while the funds will help fill some of Angola's financing gaps, there is clearly a market view that the country may require more comprehensive debt restructuring, even if it doesn't happen until 2021 or later. 
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AssessmentsSep 9, 2020 | 10:00 GMT
A Greek vessel patrols the waters surrounding the tiny island of Kastellorizo, which is situated just two kilometers off the south coast of Turkey, on Aug. 28, 2020.
What's Driving Turkish Aggression in the Mediterranean Sea
Turkey is putting its 50-year view on maritime rights into practice through its Blue Homeland Doctrine, growing its naval and commercial presence in Mediterranean waters that it claims are part of its exclusive economic zones (EEZs). Oil and gas exploration is becoming a crucial tool in implementing this strategy. But Ankara's attempts to claim extensive maritime resource rights risk broadening to a wider conflict with Greece and other NATO allies that would bring foreign energy projects, and potentially the United States, into the fray.
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SnapshotsAug 31, 2020 | 19:41 GMT
Pemex’s Losses Deepen Mexico’s Financial Woes
Mexican President Andres Manuel Lopez Obrador's failure to strengthen Pemex's finances and shore up domestic oil production will exacerbate Mexico's public finance woes from COVID-19.  On Aug. 24, Mexico's state-owned energy giant Pemex reported its lowest level of monthly crude oil production since 1979, with the company's July output totaling only 1.6 million barrels per day (bpd) -- marking a 0.6 percent decline from June and a 4.5 percent decline from July 2019. Pemex was already struggling before the current COVID-19 crisis, seeing record losses during 2019 and the first half of 2020. Lopez Obrador's attempts to strengthen Pemex's bottom line and increase domestic oil production, however, will continue to fail without new private investment to help increase long-term production, as well as a business plan that forces Pemex to focus on the most profitable areas.
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AssessmentsAug 28, 2020 | 10:00 GMT
Legislators attend a plenary session in Tunisia's parliament on June 3, 2020.
Polarized Politics Plagues Tunisia’s Economic Prospects
Tunisia's third attempt to form a government in less than a year is unlikely to resolve the dysfunctional partisan infighting that saw the demise its last two governments, leaving its leaders unable or unwilling to pass the reforms needed to mitigate the country's deepening economic crisis. Following his predecessor Elyes Fakhfakh's July 15 resignation, Tunisia's prime minister-designate Hichem Mechichi unveiled a new cabinet of independent technocratic ministers on Aug. 24, which will go to a parliamentary vote on Sept. 1. But even if Mechichi's proposed government is approved by the country's highly divided parliament, Tunisia's deep-rooted party rivalries ensure little actual governing will be done, weakening Tunisia's ability to secure much-needed external funding, as well as serve as a model democracy in the Arab world.
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SnapshotsAug 26, 2020 | 21:36 GMT
The U.S. Expands Its South China Sea Fight to Chinese Firms and Officials
New U.S. restrictions on Chinese companies and individuals involved in supporting Beijing’s actions in the South China Sea still fall short of more extreme options, demonstrating Washington’s desire to avoid derailing outreach to China, even as overall U.S.-China tensions continue to mount. On Aug. 26, the U.S. Commerce Department’s Bureau of Industry and Security (BIS) added 24 Chinese companies to its entities list, which increases U.S. export controls, for supporting the militarization of China's maritime claims in the South China Sea, specifically citing the violation of Philippine sovereignty as upheld by the 2016 Permanent Court of Arbitration ruling. The list of entities includes five subsidiaries of the massive state-owned enterprise China Communications Construction Company, as well as one shipbuilding group and numerous telecommunications and electronics companies. The new export controls coincide with the U.S. State Department announcing it would also impose a visa ban on Chinese nationals found to be
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AssessmentsAug 25, 2020 | 18:58 GMT
Army vehicles patrol the roads on the outskirts of a village in northern Mozambique on May 26, 2016.
To Protect Its Energy Projects, Total Joins Mozambique's Counterterrorism Fight
Total's decision to support Mozambique's fight against insurgents may help protect its energy facilities from direct attacks, even as it risks the French oil major's reputation while doing little to reduce escalating militant activity in the country's north. On Aug. 24, Toal signed a security agreement with the Mozambican government to protect the $20 billion liquified natural gas (LNG) project it's developing in the country's northernmost province of Cabo Delgado. Under its new pact, Total has agreed to provide logistical support to a newly established joint task force focused guaranteeing the protection of the company’s planned onshore LNG facility, which is located in the Afungi Peninsula near the northern town of Palma. 
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SnapshotsAug 21, 2020 | 18:16 GMT
The U.S. ‘Snaps Back’ at Iran and the U.N. With Restored Sanctions
Iran will wait until after U.S. elections to decide whether to withdraw from the Joint Comprehensive Plan of Action (JCPOA) in response to the United States' move to restore all U.N. sanctions. Europe, China and Russia, meanwhile, will forgo any large arms sales to Iran due to the expanded sanctions risk, despite not officially recognizing the U.S. action. On Aug. 20, U.S. Secretary of State Mike Pompeo notified the United Nations that the U.S. government was "snapping back" all sanctions on Iran, citing Tehran's significant non-compliance with the 2015 nuclear deal. The letter comes nearly a week after the U.N. Security Council rejected Washington's proposed resolution to indefinitely extend the U.N. arms embargo on Iran. Only the Dominican Republic sided with the United States on extending the arms embargo, which is currently set to expire on Oct. 18.
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On GeopoliticsAug 21, 2020 | 10:00 GMT
Pedestrians stand on top of a world map at a monument commemorating the Age of Exploration in Lisbon, Portugal.
China, the U.S., and the Geography of the 21st Century
The geographical perspective of the 21st century is just now being formed. And at its heart is a rivalry between China and the United States to succeed Europe’s 500-year centrality in the international system, which will be framed by a shift in global economic activity and trade, new energy resource competition, a weakening Europe and Russia, and a technological battle to control information. The new map of the next century will extend to the ocean floor for resources and subsea cables, to space where low-Earth orbit satellites drive communications, and into the ill-defined domain of cyberspace. 
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