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[OIL PRICES] The oil cartel OPEC is right to warn that sharply falling oil prices will create a "price time-bomb for the future"Saudi Arabia's oil minister Ali al-Naimi and Abdalla El-Badri, secretary-general of OPEC, said low demand was "wreaking havoc" by halting investment in the sector. Oil prices in London fell near to $40 per barrel this week – down from a spike of $147 in July– prompt... |
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[SOUTH AMERICA] Petrobras Oil Hunter Estrella Fights to Keep Finds for BrazilGuilherme Estrella found an undersea lake of oil that may transform Brazil’s economy forever. Now, the exploration chief for Petroleo Brasileiro SA is at the center of a debate over who will profit from it. At stake is how much of Brazil’s newfound riches will be controlled by the sta... |
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OCEANIA: BHP Billiton's about-face leaves Rio Tinto in a holeThere are good reasons for BHP pulling the deal. The commodity markets have soured dramatically, hitting both groups’ cash flow prospects and removing the deal’s main, if unspoken, attraction – driving up prices in a bull market. Moreover, the divestments the EU hinted at would ... |
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[EUROASIA] Russian reactor builder to provide details on Turkish plant bidRussian nuclear power plant builder Atomstroyexport will by mid-December meet Turkey's request for further information on the company's bid to build a power plant, a senior company official said on Friday. Atomstroyexport, acting through a consortium with Russian power producer Inter RAO UES a... |
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[RUSSIA] Gazprom Export extends gas contract with Slovakia until 2028Gazprom Export, the export arm of Russian energy giant Gazprom, has extended a contract to supply natural gas to Slovakia until 2028, Gazprom and Slovensky plynarensky priemysel a.s. (SPP) said in a joint press release. Gazprom Export also signed a deal with Eustream (SPP's subsidiary transiti... |
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[SPAIN] Repsol Rises on Reports Lukoil Is in Talks to Buy a StakeRepsol YPF SA advanced in Madrid trading on reports that OAO Lukoil is in talks to acquire a stake of just under 30 percent in Spain's largest oil company. Repsol gained as much as 2.2 percent and traded up 30 cents at 14.25 euros as of 9:13 a.m. local time. The stock outperformed the Dow Jones..... |
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