In an surprise move, newly elected Golkar chairman Setya Novanto has already unofficially endorsed Jokowi in the 2019 presidential elections. As Horizon recently reported, the Golkar party’s elections have brought it closer to the government (please see our 18 May Latest Analysis).While its timing is unexpected, we believe that Novanto’s tacit endorsement is a demonstration
On 25 May Minister of Energy Kanat Bozumbayev optimistically suggested that Tengizchevroil (TCO) is finalizing an expansion project for the Tengiz field that will cost an estimated $36-37bn and lift output by 11mn tons to 36mn tons/year by 2021. The minister stated that IOCs led by Chevron are slated to finalize the spending plan in
On 23 May the newspaper Folha de Sao Paulo published audio clips from wiretapped phone conversations between Romero Juca, one of provisional President Michel Temer’s most powerful aides, and former chairman of state-owned gas company Transpetro, Sergio Machado. In their conversations, which took place in early May, shortly before Dilma Rousseff stepped down to await
Despite efforts by the UN and Western powers to bolster the nascent GNA and put an end to Libya’s rival governments, parliaments, armies, central banks and National Oil Corporations, the anti-GNA faction in eastern Libya is trying to pull one of its most audacious stunts yet – introducing rival banknotes into an already chaotic economy.
On 23 May Fitch Ratings downgraded Mozambique’s sovereign rating from CCC to CC, indicating a shift from “substantial” to “very high” levels of credit risk, with a default probable. Fitch’s downgrade followed Minister for Finance and Economy Adriano Maleiane’s admission before the parliamentary Planning and Budget Commission on 18 May that Mozambique Asset Management (MAM)
On 19 May Gazprom Deputy CEO Vitaliy Markelov reported that the monopoly will decelerate construction on the Power of Siberia pipeline: instead of 800km, only 400km will be laid this year. So far, Gazprom has confirmed that 115km of the 4,500-km pipeline have been completed. In the meantime, Minister of Energy Alexander Novak recently stated
One of the priorities of the UN-backed Presidency Council is to increase Libyan oil production, and the key to this is putting an end to the rivalry between the NOC headquarters in Tripoli and the parallel NOC in eastern Libya, which was established in late 2014 by then Prime Minister Abdullah al-Thinni. The eastern NOC
On 13 May a Turkish military helicopter crashed in the rural Cukurca region of Hakkari province. While a subsequent Turkish General Staff press note stated that the helicopter had crashed due to “technical failure,” the next day, a PKK social media account published the video of helicopter’s downing via a shoulder-launched MAN-Portable Air-Defense System (MANPADS).
Following Dilma Rousseff’s stepping down for trial last week, provisional President Michel Temer has named Fernando Bezerra Coelho Filho, a congressman from the PSB, as the new minister of energy and mines. Coelho Filho, who is only 32, is the son of congressman Fernando Bezerra Coelho, an influential figure within the PSB and an ally
On 17 May, after an overnight deliberation, the Golkar party’s extraordinary congress (Munaslub) chose its new president and therefore policy objectives. Setya Novanto, the former speaker of the DPR, managed to edge out his closest rival, Ade Komaruddin, to become the party’s chairman until 2019. Novanto received 277 votes compared to Komaruddin’s 173 and 48