An agreement struck with the militia that has been blockading Libya’s critical export terminals of Es Sider and Ras Lanuf could, if it holds, allow the nation to begin recouping its badly needed oil revenue.
The Panama Papers are another reminder of the extreme wealth, corruption, and opaqueness that is common to leadership in so many oil producing countries.
OPEC member Nigeria has taken a major step in improving its country’s energy sector by restructuring its state-run oil company. The move is significant since the NNPC has a longstanding history of corruption and the country is dealing with a large budget gap.
Mexico's historic initial auction, although it was a bust, is a positive reflection of how major producing countries in Latin America are moving away from resource nationalism—for now, at least—as they struggle in the current low oil price environment that shows no sign of turning around.