Isis Smuggling $50m of Oil Monthly to fund Medieval Caliphate in Iraq and Syria


The Islamic State, which reportedly generates $50m (£25m) a month in oil operations in neighbouring Syria, has expanded its oil business in Iraq to fund its recently declared ‘caliphate.’ Having seized vast swathes of territory across Iraq, the jihadist group has begun selling crude oil and gasoline on black markets to fund its cross-border caliphate. Militants from the Islamic State ... Read More »

Rouhani: More negotiations only solution for nuclear deal


President’s remarks were his first on four-month extension until November of talks agreed last week after two sides said progress made so far was still short of a final breakthrough. TEHRAN – More negotiations are the only solution to Iran’s decade-long nuclear standoff with the West, President Hassan Rouhani said Tuesday. Rouhani’s remarks were his first on the four-month extension ... Read More »

Putin’s L.America ‘big tour’, deals done

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A six-day tour by Russian President Vladimir Putin to Latin America ended with a long anticipated creation of the BRICS bank and the signing of energy agreements, as Russia looks to build alliances to counter Western influence. The Latin America tour started with the visit to Cuba, where Putin signed a new agreement on oil exploration in Caribbean waters which ... Read More »

Rupert Murdoch: NBN a ridiculous idea and climate change overblown

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News Corp owner says broadband network not needed and Australia ‘shouldn’t build windmills and all that rubbish’  Jump to comments News Corp’s newspaper the Australian was “absolutely right” to be tough on the Rudd-Gillard Labor government, Rupert Murdoch has said in a television interview on his Sky News channel to mark the 50th anniversary of the national broadsheet. “The [Labor] ... Read More »

Why the renewable target should be ramped up, not cut

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It’s hard to predict which of Australia’s climate policies will survive, or perhaps even thrive, in the current parliament. But our research suggests that if the Abbott government wants to cut long-term power costs and risk to electricity consumers, it should consider ramping up rather than weakening the Renewable Energy Target (RET). Recent UNSW modelling highlights that not only will renewable energy generation ... Read More »

CNOOC in Aphrodite: Boosting Cypriot Hopes

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Recent news that China National Offshore Oil Corp. (CNOOC) is negotiating to buy a 30-40% interest in Block 12 of Cyprus’ Aphrodite gas field may be a real shot in the arm for the natural gas industry in Cyprus, according to Charles Ellinas, CEO at ECP Cyprus National Hydrocarbons Company Ltd. “It’s interesting,” he says. “It’s a positive development because it means, more ... Read More »

Atlantic Council Energy Summit in Istanbul and Regional Balkanization

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The Soros – Funded Atlantic Council is holding an Energy Summit in Istanbul on 22 – 23 November. The U.S. Think-Tank will discuss Regional Developments, including Developments in Northern Iraq. Christof Lehmann (nsnbc) , – The Turkish Aydinlik Daily newspaper reports, that the Atlantic Council is convening for an Energy Summit in Istanbul, Turkey, on 22 and 23 November. The U.S. Secretary of Energy, Ernest Moniz, ... Read More »

Bilge water facility project sparks outcry on Aegean island

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A project to build a bilge water facility project on the Aegean island of Gökçeada has sparked anger among locals, who expressed concern about the potential environmental damage to the island, which is renowned for its underwater national park and organic farming, particularly its vineyards. Plans for the new construction were completed by the previous municipality, led by the ruling ... Read More »

Why We Should Be Optimistic About Natural Gas

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The question of when natural gas will finally begin to prove itself as a viable commercial alternative to diesel fuel is frequently framed in terms of the chicken or the egg riddle. ‘Sure, I’ll use CNG to power my rig [or fuel my truck] as soon as there is infrastructure to support it.’ Or ‘Sure, I’ll build a fuel station ... Read More »