Iranian Oil Minister: Most OPEC Members Advocate Fall in Output, we favor 5% reduction.

Iranian Oil Minister: Most OPEC Members Advocate Fall in Output, we favor 5% reduction. (Fars).

Iranian Oil Minister Bijan Namdar Zanganeh underlined that a majority of the member-states of the Organization of Petroleum Exporting Countries now agree with reducing OPEC output as they do not want to see any further fall of prices.

"In the last OPEC meeting, we agreed on the reduction of the output while 4 countries stood against such a move, but the number of the member states that favor reduction in output has increased now… as they complain about the problems caused by the rise in output; although the OPEC decisions are made according to their consensus and even one vote (in OPEC) can veto the new decision," Zanganeh said addressing a press conference in Tehran on Tuesday.

"I do not think that even those who want further reduction in oil prices will succeed because those who wanted to strike a blow on us have already done their best and the prices have been fixed around what it is at present" and they won't fall any further, he added.

He reiterated that Iran favors a five percent reduction in the oil cartel's official 30 million barrel ouput.

The minister further ensured that once the sanctions are removed Iran would be able to boost production rapidly, stressing that Iran's increased output under such conditions would not hurt market prices as OPEC is mature and wise enought to cope with such a new situation.

In mid-March, Zanganeh underlined the country's determination to produce oil based on the quota previously set by the OPEC.

“We keep struggling and we do not retreat even one barrel from our previous quota,” Zanganeh said, in reaction to directive by the OPEC that its 12 member states are required to produce 30 mb/d of oil altogether without any specific quota for each member.

“That’s very erroneous. It means letting a number of countries free to seize the quota of fellow members,” he said.

In December, Iranian President Hassan Rouhani warned that the sudden decrease in oil prices in recent months is a plot hatched by the enemies against the regional people and Muslims.

"The fall of crude prices is not merely an economic issue, rather it is the result of certain states' political plot and planning," Rouhani said, addressing a cabinet meeting in Tehran.

"The decrease in oil price is a plot against the regional people and Muslims which merely serves the interests of some other countries," he added.

Stressing that the regional people will not forget these plots and betrayals against the Muslim world, Rouhani said, "Certainly, people will react to such schemes and the countries which have hatched this plot should know that they have just increased the Muslim world's hatred for themselves." Hmmmm......Straight from Obama's BFF mouth.

'Big trouble' brewing for little Israel? Russia preparing to develop Gaza gas field.

Not so 'Kosher' after all.

'Big trouble' brewing for little Israel? Russia preparing to develop Gaza gas field.(Al-Monitor).

In a significant political and economic development, Palestinian President Mahmoud Abbas met Jan. 23 with Russian President Vladimir Putin. The meeting came as a prerequisite to officially sign an investment agreement aiming to develop the Gaza offshore gas field in the Mediterranean Sea.

It is only logical to assume that this step will raise the ire of Israel. The latter does not appreciate the role Russia plays in the region, especially since Israel has never come to an agreement with Russia.

AFP reported that there were talks of investing $1 billion to develop the Palestinian gas field. It is known that the two fields explored offshore of Gaza in the Mediterranean are called Gaza Marine 1 and 2.

In 1999, the Palestinian Authority granted the British Gas Group the exclusive rights to explore gas. In 2000, the company announced that it discovered gas and was seeking to develop the field in partnership with Consolidated Contractors Company and the Palestinian Authority.

However, the eruption of the second Palestinian intifada, in addition to Ariel Sharon assuming the premiership of the Israeli government and his refusal of funding the Palestinian Authority through gas revenues, has impeded the finding of markets to produce and subsequently develop this field. Back then, the Israeli government sought to buy gas from Egypt to avoid buying gas from the Palestinian field.

Ever since that time and until recently, the British Gas Group, in addition to the British and US governments and the former quartet envoy to Palestine Tony Blair, have attempted in vain to find solutions to the issue of the gas field.

When the split between Hamas and Fatah occurred in 2007, and dealing with the Gaza government became prohibited, the Palestinian Authority in Ramallah was no longer powerful. This would then increase the frustration of the British Gas Group, leading the company to stop its communications aiming to sell gas and to shut down its offices in Israel a year after that.

However, three months ago, the Financial Times mentioned that Israeli Prime Minister Benjamin Netanyahu had granted his approval to develop the field. The newspaper noted that Netanyahu had given the green light to the development of the field hoping to create joint economic interests between Israel and the Palestinian Authority. 

At the time, Israeli sources noted that Netanyahu has probably started to believe that Gaza Marine constitutes a source of natural gas, which compensates for the loss of Egyptian gas.

These fields would help avoid a gas crisis, before the Leviathan gas field begins to produce gas in 2017, at the earliest. Some economic experts noted progress in the stance of Netanyahu, which is attributed to his desire not to place the Israeli economy under the mercy of Tamar-Leviathan partners, especially that the driving force behind them are the American Noble Energy and the Israeli Delek.

The official Russian news agency Itar-Tass noted that the Russian energy giant Gazprom wishes to produce 30 billion cubic meters of natural gas as part of its process to invest the field. It also worth mentioning that the Russian engineering company Technopromexport is studying the feasibility of investing in the process of oil exploration in a small land field located near the city of Ramallah.

AFP, however, explained that the progress of communications — in terms of the two deals — is not yet clear, as well as the launching of the work.

It is important to note that according to economic estimations, the reserve of Marine Gaza can hold up to 30 billion cubic meters of gas, noting that its development will need three to four years and will cost around a billion dollars. The revenues of this field are estimated at $6 to $7 billion a year, throughout many years. A part of the said revenues will be given to the Palestinian Authority in the form of taxes and fees. This is supposed to render the authority independent from donor countries.

Abbas announced in Moscow that he is dealing with Russia as a major power, which has to play a key role in the Middle East. He added, “We are happy to see that Russia is an active and influential power on the international arena.” Abbas old Itar-Tass, “We would like to see Russia playing a leading role in the Middle East, since it is a major power.”

This issue prompts the following question: Is this development related to the fact that the deadline of US-brokered negotiations is imminent?

It is only normal for the Palestinian Authority not be satisfied with the US stance, which constantly refuses any pressure exerted on Israel to implement international resolutions. Could Russia, however, enter the area of Israeli economic influence, without coming to an agreement with the government of Netanyahu?

Hmmmm....Just what Gaza needed more money to buy arms, Between Turkey and Russia it seems Israel's gas future might get 'Squeezed'.

OPEC report confirms demands for cartel’s oil to drop, Will we see a production drop in 2014 to raise the price?

OPEC report confirms demands for cartel’s oil to drop, Will we see a lower quota in 2014 to raise the price?(Presstv).

At its Annual World Oil Outlook the Organization of Petroleum Exporting Countries admitted that demand for their oil could reduce by 1.1 million barrels per day by the year 2018. 

Shale oil, known within the industry as tight oil, is being extracted in huge quantities in North America and this is undermining OPEC’s conventional oil supplies. OPEC says it’s seeking ways to diversify its resources.
Despite the threat from shale oil and gas, OPEC says demand for its conventional oil supplies will remain strong in the long term.

The group of 12 countries hold 80% of the world’s conventional oil reserves and OPEC says it expects prices to stabilise at around 100 dollars a barrel.

OPEC has also made it clear that it supports lifting of an embargo on Iran’s oil exports.

The US and EU have imposed sanctions against Iran due to what they say are concerns about the country’s nuclear energy program.

The data presented by OPEC may help members to get a better understanding of the production quota needed. Members are set to discuss the matter further when they meet here in Vienna on the 4th of December.

'Counterterrorism adviser' who called Jerusalem 'Al-quds' to be named CIA Director, by Barack Hussein Obama

'Counterterrorism adviser' who called Jerusalem 'Al-quds' to be named CIA Director, by Barack Hussein Obama.HT: IsraelMatzav.

But Israel's supporters should also be concerned by the nomination of John Brennan. John Brennan is the guy who looks for moderates in Hezbullah (also here between 6:14 and 9:15), speaks lovingly of 'al-Quds,' and refers to jihad as a 'legitimate tenet of Islam.' Brennan was also the architect of the Obama administration's policy of removing 'jihad' and 'Islam' and 'terrorism' from the discourse of law enforcement agencies (a policy on which he was opposed by outgoing CIA director David Petraeus), and has charged that Americans don't have sufficient sensitivity to the Muslim world.

Hmmmm...... This is the guy that has literally wiped up all mention of Islam in relation to terrorism and terrorist attacks."Israel you're on your own........"And in that day will I make Jerusalem a burdensome stone for all people: all that burden themselves with it shall be cut in pieces, though all the people of the earth be gathered together against it" ~ Zech. 12:3.Read the full story here.

Barack Obama to nominate today John Brennan as CIA director and Hagel As Defence Sec.

Barack Obama to nominate today John Brennan as CIA director and Hagel As Defence Sec.(NDtv).Washington: President Barack Obama will nominate John Brennan as his next director of the Central Intelligence Agency.
Brennan, a 25-year CIA veteran, currently serves as Obama's top counterterrorism adviser. The White House says the president will announce Brennan's nomination during an event on Monday afternoon.
At the same event, an administration official says, the president will also formally announce that he is nominating Chuck Hagel as his next defense secretary. Both men must be confirmed by the Senate.
Obama considered Brennan for the top CIA job in 2008. But Brennan withdrew his name amid questions about his connection to enhanced interrogation techniques while serving in the spy agency during the George W. Bush administration.
Brennan denied involvement in the controversial interrogation tactics, including waterboarding, and has spoken out against them.Hmmmm.....Obama: "But I’m also mindful of the proverb, “A man is judged by his deeds, not his words.” So if you want to know where my heart lies, look no further than what I have done — to stand up for Israel."Read the full story here.

Mr. Hagel and the Jews.

Staunchest 'allies' of Israel.

Mr. Hagel and the Jews.(WS).By Eliot Abrams.During the hearings on Chuck Hagel’s nomination to be secretary of defense, it’s clear that the views of gay rights organizations will be heard. There the issue seems to be whether Hagel’s apology for previous remarks and beliefs was sincere, or motivated solely by self-interest. He had years to apologize publicly, but did so only when opposition from gay rights groups threatened his nomination.
But in the case of allegations of anti-Semitism, Hagel has not even apologized. He has remained silent, though one can expect the usual “perhaps I didn’t word that sentence as best I might have” excuse to emerge at his hearings. The question is, what might he have to apologize for? Why would anyone think he was an anti-Semite?
Here the testimony of the Jewish community that knew him best is most useful: Nebraskans. And the record seems unchallenged: Nebraskan Jewish activists and officials have said he was hostile, and none—including Obama supporters and Democratic party activists—have come forward to counter that allegation.Read the full story here.

Video - Senator Lindsey Graham (R-SC): Hagel an 'in your face nomination by the President to all of us who are supportive of Israel'

HT: IsraelMatzav.

Chuck Hagel Obama's 'future' defense secretary: "People say we're not fighting for oil. Of course we are,"

"Could we go after the Jews their oil?" this is Not a real quote!

Chuck Hagel Obama's 'future' defense secretary: "People say we're not fighting for oil. Of course we are," (WS).In a post yesterday waxing enthusiastic about Chuck Hagel as defense secretary, Michael Moore called attention to a statement of Hagel that I don't believe had been previously much noted. Here it is, from September 2007:

"People say we're not fighting for oil. Of course we are," said the Republican Senator from Nebraska Chuck Hagel to law students of Catholic University last September. "They talk about America's national interest. What the hell do you think they're talking about? We're not there for figs."

This rounds out a Hagelian worldview—but I also wonder if it could be the straw that breaks the back of Hagel's chances. It's true that senators have been notified in the last few days that Hagel is the likely choice.
But the latest AP story has the Obama administration keeping the door open for the president to go in a different direction: "White House aides said the president has not made a final decision on either post and won't until he returns from Hawaii, where he is vacationing with his family. Obama is due back in Washington Sunday morning." Now, when Obama returns, he'll have to come to grips with the Hagel war-for-oil statement.
After all, this vulgar and disgusting charge has always been out of even the anti-war mainstream. It's something President Obama, an opponent of the Iraq war, has never (to my knowledge) said. Obama thought the war a mistake for various reasons. But he never bought in to the far-left trope that it was, secretly, a war for oil.
What's more, isn't Hagel’s statement a direct attack on the motives and honesty of those senators who supported the war—including Joe Biden, Hillary Clinton, and John Kerry? Indeed, what does it say about Chuck Hagel, who voted to authorize the war in October 2002? He knew it was a war for oil, didn't say so at the time, but voted for it anyway? And then, a few years later, at the height of the fighting by American soldiers in Iraq, he proclaims with false braggadocio the alleged truth that it's all just a war for oil?
Is President Obama really going to nominate this man as secretary of defense? Hmmmm.....I wonder how he feels about Israel's Gas and Oil fields?Read the full story here.