Berlusconi’s exit won’t end the crisis November 9, 2011 ONE by one, they fall: the Eurozone’s poisonous, tarantula-like bite has just claimed its second major political scalp in under a week. Following days of intense pressure by global bond investors, who had lost confidence in his ability to turn around the Italian economy, Silvio Berlusconi was finally forced to announce that he would be [...]
Opec sets production limit December 14, 2011 OPEC oil producers yesterday agreed to their first new production limit in three years in a deal that settles a six-month-old argument over output levels in Saudi Arabia’s favour. The Organisation of Petroleum Exporting Countries agreed on a new supply target of 30m barrels daily, Venezuelan oil minister Rafael Ramirez said, roughly in line with [...]
Opec sets production limit December 14, 2011 OPEC oil producers yesterday agreed to their first new production limit in three years in a deal that settles a six-month-old argument over output levels in Saudi Arabia’s favour. The Organisation of Petroleum Exporting Countries agreed on a new supply target of 30m barrels daily, Venezuelan oil minister Rafael Ramirez said, roughly in line with [...]
Why this week’s oil meeting matters for Opec December 11, 2011 IT was one of the worst Opec meetings ever,” exclaimed the most important man in world oil, Ali al-Naimi, back in June to a gob-smacked press pack in Vienna. Seriously, this was a truly amazing utterance from a man who, despite his enormous power, likes to let others do the talking at Opec meetings. Fast [...]
Petrol congress meets amid Middle East unrest December 4, 2011 THE TWENTIETH World Petroleum Congress kicks off in the Qatari capital of Doha this week, aiming to boost dialogue among stakeholders in the petroleum industry and beyond. It is the first time the triennial event has ever been held in the Middle East. It could not have come to the region at a more crucial [...]
Petrol congress meets amid Middle East unrest December 4, 2011 THE TWENTIETH World Petroleum Congress kicks off in the Qatari capital of Doha this week, aiming to boost dialogue among stakeholders in the petroleum industry and beyond. It is the first time the triennial event has ever been held in the Middle East. It could not have come to the region at a more crucial [...]
BERLUSCONI, OIL AND A LOAD OF EUROS November 14, 2011 LAST Wednesday, global stock indices took a dive as Italian bond yields soared. Having waved off George Papandreou as Greek Prime Minister, bondholders turned their attention to Italy. Investors began to panic as the yield on Italy’s 10-year BTPs flew above 7 per cent – a level which saw Greece, Ireland and Portugal require emergency [...]
Bahrain and Iran protest February 15, 2011 OIL PRICES shot up again yesterday after a “day of rage” led by anti-government protesters in Bahrain and Iran kept the global markets focused on Middle Eastern unrest. Just days after Egyptian president Hosni Mubarak’s resignation calmed oil traders, Brent crude rose more than two per cent yesterday to top $104 (£64.86) a barrel for [...]
Bahrain and Iran protest February 15, 2011 OIL PRICES shot up again yesterday after a “day of rage” led by anti-government protesters in Bahrain and Iran kept the global markets focused on Middle Eastern unrest. Just days after Egyptian president Hosni Mubarak’s resignation calmed oil traders, Brent crude rose more than two per cent yesterday to top $104 (£64.86) a barrel for [...]
Bahrain and Iran protest February 14, 2011 OIL PRICES shot up again yesterday after a “day of rage” led by anti-government protesters in Bahrain and Iran kept the global markets focused on Middle Eastern unrest. Just days after Egyptian president Hosni Mubarak’s resignation calmed oil traders, Brent crude rose more than two per cent yesterday to top $104 (£64.86) a barrel for [...]