Saudi King Goes East In Search Of Friends And Cash

 

The Saudi King kicked off a month-long tour of Asia this week, as the oil kingdom looks to bolster ties in the east as it loses confidence in the U.S. as a stable ally.

The trip began in Malaysia where King Salman inked a $7 billion deal, promising to invest in a Malaysian petrochemical complex run by state-owned oil company Petronas. From there, he will tour Indonesia, Brunei, Japan, China and the Maldives. Continue reading

Is A Gas War Between The U.S. And Canada About To Start?

The United States and Canada work well together. The countries share the world’s largest and most comprehensive trade relationship, exchanging more than $2 billion per day in goods and services; the U.S. is Canada’s largest foreign investor and Canada is the third-largest foreign investor in the U.S. The partnership clearly isn’t broken, but it may need some mending as bilateral and international gas trade stands to complicate matters in short order. Continue reading

Cuba Hoping To Kickstart Offshore Oil & Gas Industry

The Cuban oil company Cubapetroleo, or Cupet, is close to a deal with Angola’s state-run Sonangol to get Cuba’s deepwater energy exploration program up and running three years after work was suspended because of failure to find any oil or gas.

A Cupet official told the British energy news service Argus Media that the two companies expect to begin operations next year on two of four areas of the Gulf of Mexico off the Cuban coast based on an agreement between Cupet and Sonangol signed in 2010. Cuba’s program of deepwater exploration was suspended after several foreign companies’ drilling efforts proved fruitless. Continue reading