Indonesia - 05

Indonesia: Ramba Energy: A Case Study

Singapore-listed Ramba Energy recently had its plan of development for the Lemang PSC in Riau province approved by the Ministry of Energy and SKK Migas, according to mid-August statements from both agencies. The Lemang PSC is one of the more notable new onshore oil and gas discoveries in recent years. According to a 2011 study

South Africa - 04

South Africa: Implications of the New Oceans Bill

The South African government is preparing a new piece of legislation called the National Environmental Management: Oceans Bill, known as the “Oceans Bill.” According to the Department of Environmental Affairs’ legal services director, Radia Razack, the intent behind the Oceans Bill is to consolidate fragmented laws and close gaps in the current regulatory framework.

Kazakhstan - 03

Kazakhstan: Implications of Tenge Devaluation

Last week the National Bank of Kazakhstan proceeded with a rapid devaluation of the tenge, announcing a new monetary policy based on inflation targeting and renouncing its earlier trading band. The tenge plummeted from 195 to 255/dollar, recovering this week to around 241/dollar. The move was unexpected for many in Kazakhstan, who believed National Bank

Libya - 06

Libya: Eastern NOC Invitation: Disconnect Between Ambitions and Reality

The parallel NOC established last year to challenge the Tripoli-headquartered NOC issued an invitation this week with the support of the Thinni government calling on IOCs to attend a conference in Dubai on 2 September, where its management board seeks to “discuss legally signed agreements and contracts.” Attempts to transform the eastern NOC into a

Turkey - 05

Turkey: Outlook for Powertrans After Renewed Kurdish Conflict and AKP Controversy

Powertrans, the Istanbul energy company and Kurdistan Regional Government (KRG) oil exporter connected to President Erdogan, has recently come under renewed scrutiny due to intraparty feuding within the AKP. In May Horizon reported on leaked documents that revealed the connection between Erdogan and Powertrans (please see our 21 May Latest Analysis). Powertrans is ostensibly headed

Brazil - 09

Brazil: Petrobras Board Approves Sale of 25% Stake in BR Distribuidora

After nearly two months of speculation, on 17 August the Petrobras board finally agreed to sell a 25% stake in the company’s main distribution subsidiary, BR Distribuidora. Chairman Murilo Ferreira voted against the decision, as did board member Deyvid Bacelar, who represents Petrobras’ employees, but as the only two votes against the sale they were

Russia - 01

Russia: Sechin’s Tenacity: Litigation with LUKoil and the Government

On 18 August the Moscow Arbitration Court provisionally blocked the issuance of a license for the East-Taimyr area to LUKoil following a recent lawsuit from Rosneft over licensing for the area. LUKoil previously won the auction for the 13,800 square kilometer onshore area in Krasnoyarsk krai adjacent to the Laptev Sea on 11 August. Rosneft,

Brazil - 03

Brazil: Smaller Protests Sway Opposition Strategy

Anti-government protests on 16 August drew tens of thousands of Brazilians into the street across the country. According to data released by polling institute Datafolha, the most recent protests were significantly less attended than those on 15 March, with roughly 135,000 participating on Monday in Sao Paulo, the epicenter of government opposition, while some 210,000