Like what you've read?

On Line Opinion is the only Australian site where you get all sides of the story. We don't
charge, but we need your support. Here�s how you can help.

  • Advertise

    We have a monthly audience of 70,000 and advertising packages from $200 a month.

  • Volunteer

    We always need commissioning editors and sub-editors.

  • Contribute

    Got something to say? Submit an essay.


 The National Forum   Donate   Your Account   On Line Opinion   Forum   Blogs   Polling   About   
On Line Opinion logo ON LINE OPINION - Australia's e-journal of social and political debate

Subscribe!
Subscribe





On Line Opinion is a not-for-profit publication and relies on the generosity of its sponsors, editors and contributors. If you would like to help, contact us.
___________

Syndicate
RSS/XML


RSS 2.0

The secret wealth of the world's richest oil billionaires

By Zainab Calcuttawala - posted Monday, 6 March 2017


In Brunei, things may be about to change, and the Sultan may find his wealth considerably downsized. Oil production is down 40 percent since 2006, and what's left has lost a great deal of value due to low oil prices. Nearly 96 percent of Brunei's exports are oil, gas and related products—that tops even Saudi Arabia, Kuwait and the UAE. Brunei could run out of oil in just over 20 years, but then again, the Sultan is said to have massive real estate holdings to tide him over.

Angola's president is stepping down and the oil price crisis has hit him hard, but he'll still control the ruling party and a new president will defer to him (and his daughter).

In Kazakhstan, Nazarbayev is president for life. In Azerbaijan, the family elite is as strong as ever and will continue to be so through any means necessary. In Russia, sanctions simply haven't worked because they are designed to target those around Putin, and Putin appears to have designed it so they are always vulnerable to him first and foremost.

Advertisement

As Russian businessman and former Putin friend Sergei Pugachev notes to the Guardian, and as reported by U.S. News and World Report: "Everything that belongs to the territory of the Russian Federation Putin considers to be his. Everything – Gazprom, Rosneft, private companies. Any attempt to calculate it won't succeed. … He's the richest person in the world until he leaves power."
 

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. Page 4
  6. All

This article was first published on OilPrice.com.



Discuss in our Forums

See what other readers are saying about this article!

Click here to read & post comments.

3 posts so far.

Share this:
reddit this reddit thisbookmark with del.icio.us Del.icio.usdigg thisseed newsvineSeed NewsvineStumbleUpon StumbleUponsubmit to propellerkwoff it

About the Author

Zainab Calcuttawala writes for OilPrice.com.

Other articles by this Author

All articles by Zainab Calcuttawala

Creative Commons LicenseThis work is licensed under a Creative Commons License.

Article Tools
Comment 3 comments
Print Printable version
Subscribe Subscribe
Email Email a friend
Advertisement

About Us Search Discuss Feedback Legals Privacy