President Buhari’s cabinet selection brings hope. The major challenge now is to deliver on his promise to fight corruption, restructure Nigeria’s economy and reduce poverty.
A billboard campaigning against crude oil theft. Nigeria is under pressure from falling oil prices and China’s economic slowdown.
Reuters/Akintunde Akinleye
Oil price developments over the past 40 years have been truly spectacular, but the recent fall in oil prices is likely to last, thanks to increasing production.
Oil-enriched kingdom: Saudi Arabia’s Shaybah oilfield complex at night in the Rub’ al-Khali desert.
Ali Jarekji/Reuters
American consumers may welcome lower gas prices, but the drop in oil revenues could impact Arab Gulf states and Middle East security. A scholar examines the realities of decreased oil revenues.
Political goals for Russia’s gas giant.
Wolfgang Rattay/Reuters
It’s been done before but tapping the Strategic Petroleum Reserve – particularly when prices for oil are low – isn’t the best way to fund the Highway Trust Fund.
Virgin territory. Sunrise over the Arctic resources battleground.
NOAA Photo Library
Critics of the nuclear deal with Iran have good reasons to be skeptical, but blocking the deal would make the United States and its allies less secure.
Iran’s economy is now open for business with more outside countries.
David Holt/flickr
Due to their histories, US companies won’t be at the front of the queue when it comes to doing business in Iran, but many can’t ignore the oil or other markets.
Increased oil and gas revenues amid lifted sanctions are set to raise Iran’s economic fortunes, which ease Middle Eastern tensions.
EPA/Abedin Taherkenareh/AAP Image
Opponents of the Iran nuclear deal say it raises the nuclear weapons threat in the region. But Middle East tensions are actually likely to ease as Iran grows richer without being shackled by sanctions.
Iraqi troops training with the US Army June 2015.
US Army/Reuters
On the face of it, Iraq and the US Federal Reserve share little. One is a country plagued by division, war and mayhem since the US invasion of 2003. It is a brutal world where there are no friends, few…
Norway’s petroleum sector is its most important industry. The petroleum sector accounts for 21.5% of its GDP, and almost half (48.9%) of total exports. In 2013 Norway was ranked the 15th-largest oil producer…
Saudi workers have been given a pay bonus by their new king, but unless oil prices rebound the country will find itself eating into its US$750 billion sovereign nest egg.
EPA/Ali Haider
In his first royal decree, Saudi Arabia’s newly crowned King Salman announced two-month bonuses for state employees, pensioners, students, and recipients of social service programs (that is, everyone in…