Crisis in Venezuela, what is happening and why President Maduro is at risk

Crisis in Venezuela, what is happening and why President Maduro is at risk

The socio-economic crisis in Venezuela A key source of the crisis is the diminishing price of oil, which was selling at 97 dollars per barrel in 2013, but fell to 48 dollars per barrel by 2015. This has hit the country harshly as crude oil exports are a central pillar of the Venezuelan state-led economy, with this commodity making up 97.7 per

Niger Delta, the oil spill clean-up has started. It will take 30 years

Niger Delta, the oil spill clean-up has started. It will take 30 years

After decades of legal battles, the government of Nigeria announced the launch of a huge clean-up plan in the Niger Delta, which was once destroyed by oil drilling activities. It’s an unprecedented operation that will take 25 to 30 years to be completed and will have an estimated cost of a billion dollars. The victory comes 20 years

Saudi Arabia fires Oil Minister, hiring a Minister of Energy instead

Saudi Arabia fires Oil Minister, hiring a Minister of Energy instead

Saudi Arabia is taking big steps towards post-oil era. With an unexpected decision, King Salman fired Saudi oil minister Ali al Naimi, who had held the post since 1995. The long-serving oil minister had planned the kingdom’s energy strategies for decades but he has now been replaced by Khaled al Falih, chairman of the state oil

The Alberta tar sands. Canada’s oil costs more than it makes

The Alberta tar sands. Canada’s oil costs more than it makes

The Alberta tar sands hold much of Canada’s oil wealth: the region contains an estimated 1.7 trillion barrels of bitumen oil. The size of this reserve makes it the third largest oil deposit in the world after Venezuela and Saudi Arabia. Yet despite this, the cost of extraction now outweighs the profit made per barrel.