Libya - 01

Libya: CBL Reserves May Last Three Years Due to Spending Cuts

Throughout the civil war that erupted in summer 2014, UN officials and Western diplomats have repeatedly expressed concern over its impact on Libya’s finances, particularly the rate at which the country is burrowing into its foreign reserves. In interviews with Horizon, some CBL officials have sought to assuage those worries, saying the situation was not

Mexico - 06

Mexico: Pena Nieto Expedites Relaxed Fuel Import Terms

On 22 February President Enrique Pena Nieto announced that the relaxed fuel import terms originally slated for 1 January 2017 would be expedited to 1 April 2016 – nine months earlier than as established under the Hydrocarbons Law. Before the energy reforms were enacted, Pemex was the only entity allowed to purchase fuel abroad; now,

Russia - 04

Russia: Resuscitating South Stream: Gazprom Signs a New MOU

On 24 February Gazprom CEO Aleksei Miller signed an MOU with the CEOs of Edison and DEPA to build a subsea pipeline across the Black Sea to deliver Russian gas to Greece and on to Italy. According to Gazprom’s statement, gas will be transported to Greece via “third countries” and “maximum use” will be made

Mozambique

Mozambique: Renamo Resumes Highway Attacks in Central Provinces

Earlier this month, the Renamo chief of mobilization for Sofala province, Horacio Calavete, threatened attacks against vehicles transporting government troops on the national EN1 highway. Since then, the situation has rapidly deteriorated. On 11 and 12 February eight cars came under fire on EN1, with six people injured. In addition, skirmishes occurred in locations away

Turkey - 05

Turkey: ITP Disruption Extended By Military, Not Political Challenges

The ITP was struck on 17 February, halting oil flows from the KRG to the Ceyhan terminal in Adana. Though the attack was initially reported to have taken place in Sanliurfa – usually a safe area – the incident actually occurred in the Idil district of Sirnak province, a regular site of PKK attacks in

Indonesia - 03

Indonesia: Jokowi Promises Further Reform

President Joko Widodo has delivered two upbeat speeches in the last few days, vowing to open the Indonesian economy to foreign investors and reduce bureaucratic barriers. Speaking in San Francisco on 18 February at the US-ASEAN Summit, Widodo expressed his frustration with the complex permitting structure in Indonesia. On 22 February Widodo spoke at a

Mexico - 01

Mexico: An Exemption for Pemex: CNH Delays Reforms

During an extraordinary session on 11 February, CNH issued a modification to the TGHM, which the agency first approved in September 2015 in order to bring international best practices to the nascent Mexican energy sector. The guidelines are composed of various technical processes to guarantee the precise measurement of production volumes and the quality of

Russia - 05

Russia: Bashneft’s Privatization: Who Are the Potential Buyers?

Senior government officials have recently confirmed that Bashneft will be the first major company to be privatized in 2016. The Russian government currently controls a 50.08% stake in Bashneft; Bashkortostan’s regional administration holds a 25% stake; about 5% of the company is held as treasury shares; and institutional and individual private investors hold the rest.

Libya - 06

Libya: Eastern NOC Tries to Fend Off Its Growing Irrelevance

Libya’s rival NOCs are again publicly trading barbs in statements related to the eastern NOC’s latest effort to sell to buyers who load at the port of Hariga. The eastern NOC claims it has already inked 10 agreements for exports from the port. The NOC’s Tripoli headquarters has asserted that the eastern NOC and the