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Sanctions-Proof Oil Rig Thwarts US Policy From Cuba to Russi

For discussions of events and conditions not necessarily related to Peak Oil.

Sanctions-Proof Oil Rig Thwarts US Policy From Cuba to Russi

Unread postby AdamB » Wed 20 Dec 2017, 13:44:19

The oil rig was built mostly in China and drilled its first well in Cuba. Now it’s delivering a victory for Russia in its fight against U.S. sanctions. Italian oil giant Eni SpA and Russia’s state-controlled Rosneft PJSC are using the Scarabeo 9 ultra-deepwater rig to drill in water more than 2,000 meters (6,600 feet) deep in the Black Sea. It’s the first well drilled by a western company at a Russian oil project that falls squarely under U.S. sanctions imposed on the sector in 2014. For Vladimir Putin, it’s a second energy-sector victory in a little over a week after the $27 billion Yamal liquefied natural gas project started shipping cargoes despite U.S. sanctions against its controlling shareholder. "It is important not because of the size, but from a geopolitical perspective it is key," said Alejandro Demichelis, director at boutique investment bank


Sanctions-Proof Oil Rig Thwarts US Policy From Cuba to Russia
Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0
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