It is no coincidence that ISIS is using the oil fields and pipelines it captured in Iraq and Syria to sell crude oil for the purpose of funding its activities, according to a report in Istanbul’s Daily Sabah, dated July 10, 2014. In the report, Erdal Tanas Karagöl, economy director at the Ankara-based non-profit SETA Foundation for Political, Economic and Social
Algeria’s government owned energy company, Sonatrach, has announced plans to start producing gas from six new gas fields, with initial plans to drill four shale gas wells in 2014 in the basins of Ahnet (south of In Salah) and Illizi, according to an Algeria Press Service report. “Sonatrach aims to renew oil and gas reserves of the country by mobilizing
China National Offshore Oil Company, or CNOOC, announced it has signed a deal worth $1.6 billion to build equipment for the Yamal LNG project in Siberia. The project is currently scheduled to begin in 2017 and annual capacity per LNG train is expected to be 5.5 million tons – all of which has already been signed to contracts. The Yamal
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