So, overnight, the world has another 29 billion barrels of oil after Iraq decided to upgrade its proven reserves from 114 billion to 143 billion barrels based on new evaluations of West Qurna and Zubair fields in the south. That’s pretty much an entire year of global demand right there. Although the details are a more »
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There are some big decisions to be made by investors in Azerbaijan's oil and gas sector this year, with up to $30 billion at stake at the Shah Deniz Stage 2 gas development, planned to come on stream in 2018. Statoil is fretting about political uncertainty in the EU. But it and other investors should be closely watching political developments at the production end in the run-up to November's presidential elections, amid signs that the long-standing pact between Aliyev and Azerbaijani citizens - trading a measure of stability for an authoritarian grip on civil life - is showing cracks.