Politics, Geopolitics & Conflict
– Natural gas continues to be a major diplomatic tool in the Middle East region, as new gas giant Israel prepares to sit down with Lebanon for a US-mediated meeting to discuss maritime borders that have a direct link to the Mediterranean offshore oil and gas riches. Should Lebanon ever resolve its domestic political issues to the point where it can truly begin offshore exploration, having a maritime deal with Israel after decades of conflict will be perhaps the biggest vote of confidence for investors.
– After withdrawing an exploration vessel from offshore Cyprus last week, in a move that Turkey attempted to pass off as “diplomatic” but was likely related to exploration failure, Ankara has deployed another vessel – this time in Greece’s territorial waters in what is being viewed as a direct provocation. The Turkish seismic survey vessel has been deployed off the coast of Turkey near the Greek island of Kastellorizo.
– Angola’s state-run oil giant Sonangol, long a den of corruption that siphoned an estimated $14 billion out of state coffers, is now being considered for listing on a stock exchange upon completion of restructuring. If that happens, Sonangol would likely be listed in New York, London, or China. Angolan authorities have hinted that some 30% of the company could be offered in a listing as soon as 2022.
– Philippines President Rodrigo Duterte has lifted the moratorium on oil and…