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After years of back and forth, with talks intensifying in recent months, a new Iran nuclear deal now appears to be a distinct possibility. While this could be great news for a world facing oil and gas shortages, some critics point to the geopolitical dangers associated with such a deal. Nevertheless, Iran has been preparing its oil industry for a swift recovery once an agreement is reached, following months of oil production increases.  With oil prices rising exponentially this year, and several countries worldwide facing oil and gas shortages,…
While Canada has no clear aim to reduce its oil production, particularly as demand from the U.S. and other countries has risen since the Russian invasion of Ukraine, it is now hoping to decarbonize the sector to ensure its future prospects. With greater international pressure to curb fossil fuel production and decarbonize, Canada is aiming to introduce innovative technologies that will allow it to continue producing crude without having such a heavy toll on the environment.  A recent Canadian Energy Regulator (CER) report showed that Canada’s…
Iraq’s record-high oil exports could be hindered by the rising political turmoil being seen across the country. While political instability has typically had little effect on the country’s oil industry, growing unrest is now threatening Iraq’s oil output. In addition, Iraq continues to battle over oil ownership in the Kurdistan region, adding to the industry’s challenges.  Iraq’s oil industry had been reporting positive trends in recent months, with production levels standing at around 4.4 billion bpd of crude,…
Back in early March shortly after Russia’s invasion of Ukraine, President Biden signed an executive order to ban the import of Russian oil, liquefied natural gas, and coal to the United States. Although the ban together with EU sanctions have been blamed for skyrocketing global energy prices, U.S. refiners are none the worse for wear since Russia supplied just 3% of U.S. crude oil imports. However, the punters were quick to point out that one notable export was left off of that list: uranium. The U.S. is far more reliant on Russian uranium,…

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