Natlata may back Petroneft deal April 22, 2014 Shares in Aim-listed Russian oil explorer Petroneft surged yesterday, after its largest shareholder Natlata indicated that it may support a recently-agreed farm-out agreement with Oil India. “If the deal is as attractive as suggested, Natlata would consider supporting it,” it said. But Natlata added that further details were lacking on the deal and urged for more [...]
Putin: Effects of the rouble crisis will “last two years under the most unfavourable circumstances” December 18, 2014 Buoyed, presumably, by the triumph of being named Russia’s man of the year for the 15th year in a row just hours ago, this morning Vladimir Putin climbed on to the podium to give a press conference to 1,300-odd journalists in what has become known as his answer to a “state of the nation address”. [...]
Rouble edges up after falling to historic low against dollar and euro November 7, 2014 The rouble recovered slightly against the dollar in late morning trading, after it dropped to historic lows against both the dollar and the euro. At one point in mid-morning, it took more than 48 roubles to buy a dollar, as investors showed their lack of confidence in the Russian central bank's ability to control its [...]
Budget, oil rig count and Nigerian GDP: Here’s our world view March 26, 2015 Rising debt, capital outflows and falling commodity prices – we highlight the numbers that matter from around the globe NORTH AMERICA 268 the number of rigs drilling for shale gas in the week ending 6 March 2015, down from 1,606 in the summer of 2008. And yet US gas production has continued to rise. Baker [...]
Rome: The Eternal City that Hollywood can’t leave alone June 7, 2015 The Eternal City has managed what the Russians never could: knock out 007. Daniel Craig was shaken and stirred as he was carried unconscious by a wailing ambulance to hospital when the Aston Martin DB 10 he was driving in a high speed chase around the Tiber river hit pot holes while filming Spectre, the [...]
UK bosses expect higher growth than elsewhere in Europe January 20, 2015 The UK’s chief executives are more confident about growth this year than their counterparts in the rest of Europe, while the US stands out among developed nations. That is according to an annual survey of bosses that found that 39 per cent of UK bosses said they were “very confident” about growth prospects in 2015, [...]
Rouble jumps after months of steep drop November 10, 2014 THE RUSSIAN rouble strengthened against the dollar yesterday despite the Central Bank of Russia (CBR) announcing the abandonment of its exchange rate controls. A press release from the CBR said foreign exchange intervention might still be considered in the case of renewed “financial stability threats”, which may have reassured foreign exchange markets. Markets may also have [...]
BP share price rises as earnings beat expecations, despite falling 18 per cent October 28, 2014 Shares in oil giant BP opened 1.9 per cent higher this morning as it reported above-expectation revenues, despite a fall in both oil production and earnings as outside pressures weighed on results. A combination of ongoing legal proceedings in the US, Russian sanctions and falling oil prices affected the figures. On the whole, these effects [...]
The oil war has begun: The Saudis are using crude tools to hobble their rivals November 30, 2014 “Paranoia is knowing all the facts.” – Woody Allen Venezuelan foreign minister Rafael Ramirez certainly believes in my Saudi oil conspiracy theory. With his horribly-run country requiring a break-even oil price of at least $121 per barrel to balance its budget, and with the global price of crude already down 30 per cent since July [...]
Lukoil starts output at Iraq oil field March 31, 2014 Lukoil has started commercial production from the West Qurna-2 oil field in Iraq. The Russian oil company said at the weekend that it reached its target output level of 120,000 barrels per day on Friday. According to the contract between Lukoil and the Iraqi government, the firm must maintain that level of production for the [...]