Industrialized Cyclist Notepad


Cyprus = natural gas

Cyprus has known from the beginning that its bailout is tied to its potential petrol dollars, while the EU has attempted to couch this in all manner of moral-high-ground rhetoric.

What will the EU do now? Will it bail Cyprus out on kinder terms to keep Russia from getting hold of the island’s gas?  Monday is D-Day: This is the deadline the European Central Bank has set for Cyprus to come up with $6 billion in order to “qualify” for a bailout package.

Cyprus is playing Russia and the EU offer each other right now, hoping to bring the specter of a deal with Russia close enough to make Brussels blink and give Cyprus more negotiating power.

Watch the deals in progress with this in mind: Not only is Cyprus’ financial collapse at stake here. Also at stake is Russia’s monopoly on the European gas market and the Europe’s entire gas future.

via Oilprice.com: EU Caught Playing Dirty and it’s all about Russian Gas.



Weird Discrepancy

…between official Russian oil production numbers and JODI numbers.

via http://www.forbes.com/sites/markadomanis/2012/05/20/is-russian-oil-production-plummeting/



Lukoil in Iraq

As Norwegian Statoil bugs out.

Lukoil aims to invest around $2 billion in the West Qurna-2 oil field in Iraq this year, Bloomberg News reports. A company spokesman told Bloomberg that $200 million was invested there in 2011.

The oil company, the largest private energy company in Russia, also announced plans to start construction on a new oil pipeline and spell out details for its drilling program.

via Lukoil unveils investment plans for Iraq – UPI.com.