Russians Divesting From Oil Production

[TheTalkingMule]

The next in our series on the dwindling value of oil production:

Putin Said to Weigh $11 Billion Rosneft Sale to China, India

Rosneft pumps more oil than Exxon.

We really need to keep a sharp eye on these oil producers, someone is going to try to kick off WWIII real soon.

 

[mspohr]

The next in our series on the dwindling value of oil production:

Putin Said to Weigh $11 Billion Rosneft Sale to China, India

Rosneft pumps more oil than Exxon.

We really need to keep a sharp eye on these oil producers, someone is going to try to kick off WWIII real soon.

The faster the world can move away from fossil fuels and towards renewables, the less there will be to fight over.

 

[TheTalkingMule]

Countries that will have nowhere near enough money to keep services anywhere near current levels:

Russia
Venezuela
Brazil
Saudi Arabia
Kuwait/Libya/Iraq/most of ME
Nigeria/related Africa producers
Ecuador
Mexico?
Canada?

That's a lot of potentially unruly citizens and governments seeking to appease them.

 

[neroden]

Mexico, Canada, and Brazil have a lot of oil, but like the US, they are not actually "petrostates"; they have fairly diversified economies.

Turkey and Iran also have fairly diversified economies. The rest of the Middle Eastern oil states do *not*. The UAE is making an aggressive move to put their oil money into other businesses ASAP so they'll probably manage to weather the transition, but the others aren't moving fast enough, particularly Saudi Arabia.

Russia *should* have a diversified economy; it used to; but most of the other sectors are in really sad shape at the moment.

Nigeria, despite having lots of oil, already has essentially zero oil production due to various rebel groups who have been sabotaging the oil operations for years, so their problems are going to be quite different. :-(