Energy companies are renowned for taking risks as they scour the globe for new opportunities.
That said however, Canada’s Vancouver, BC-based Horn Petroleum Corporation, a unit of Africa Oil Inc., is in a class by itself, having begun drilling operations in Somalia’s semi-autonomous northern Puntland state.
Somalia?
Which has not had an effective government since 1991?
Land of “Black Hawk Down,” pirates, battling militias, al Shabaab militants and U.S. drone strikes against…
Following the recent agreement by the EU to impose trade sanctions against Iran the Iranian parliament will debate a law that could halt all oil exports to the continent.
“On Sunday, parliament will have to approve a ‘double emergency’ bill calling for a halt in the export of Iranian oil to Europe starting next week,” Hossein Ibrahimi, vice-chairman of parliament’s national security and foreign policy committee, was quoted as saying.
The EU accounted for 18 per cent of Iranian crude oil sales in the first half of 2011,…
The current administration of Pakistani President Asif Zadari is beset by multiple problems.
Relations with its ally in the “global war on terror,” the U.S. have plummeted to their lowest ever level.
But for the average Pakistani, of more immediate concern is the country’s ongoing energy crisis.
The nation’s problem is summed up by the following figures. Pakistan’s current electricity demand is about 25,000 megawatts per day but national current electrical production…
President Obama during the State of the Union address Tuesday night said his administration would require energy companies working in shale gas plays in his country to disclose the ingredients of hydraulic fracturing fluid. That’s becoming something of a common practice in the United States, a country described by Texas oil magnate T. Boone Pickens as the Saudi Arabia of natural gas. Yet, advocacy groups complain the chemicals in so-called fracking fluid threaten the environment. State regulators, and most of the energy companies, counter that…
It is already January 24, and the S&P 500 has seen a grand total of two down days so far in 2012. Are we on the eve of one of the great bull markets of all time? Is it off to the races once again?
I follow dozens of fundamental and trading research services and the number that are flashing warning lights right now is close to an all-time high. For example, the AAII sentiment survey now shows that 46% of investors believe that the stock market will be high in six months, well above the 39% historic average. It has only been higher…