What goes down must come up
Following a five-year decline, the commodity market is finally trending upward...
Tag : oil
Inflation in Venezuela is expected to touch 700%
Many citizens can no longer afford to feed themselves leading to protests Marcus Turner Jones September 23, 2016: Venezuela remains in crisis, facing the largest demonstrations that the country has ever seen. The scale of the crisis has caused President Nicolas Maduro to declare a ‘constitutional state of emergency’, with rival pro and anti-government activists...
Saudi, Russia to work together on oil prices
Price of oil jumps 5% September 6, 2016: The price of oil jumped by 5% after Russia and Saudi Arabia discussed ways to stabilise oil prices on the sidelines of the G20 summit in China. Both countries said they will not act immediately but could limit output in the future. The joint statement was signed...
Informal OPEC meet in September does not raise hopes
Experts do not expect a major impact on oil price IFM Correspondent August 17, 2016: The past week saw OPEC announcing plans for an informal meet at the International Energy Forum in late September. The announcement comes at a time when Saudi Arabia is pumping a record amount of oil and Iran is resuming production...
Aristo can pave the path for EU citizenship
All you need to do is a direct property investment in Cyprus August 1, 2016: Cyprus boasts some of the world’s finest properties, set against a backdrop of astonishing beauty. It is a place where relaxation comes naturally. One can explore the great history, the excitement of towns and villages, and a range of natural...
Saudi Arabia mulling over income tax on expats
However, economists do not think the plan will see the light of the day Suparna Goswami Bhattacharya July 15, 2016: With an eye on increasing its non-oil revenue, Saudi Arabia is considering a plan to tax millions of expats residing in the Kingdom. The proposal was included in the country’s National Transformation Plan (NTP), an...
Saudi Arabia cuts back its solar target
No concrete reason given; wants to concentrate on gas Suparna Goswami Bhattacharya June 28, 2016: In a move that has surprised many, Saudi Arabia has scaled back its renewable power targets as the world’s largest producer of oil plans to use more natural gas, backing away from goals set when crude prices were about triple...
Iran shifts tactics to lock in global energy allies
Adopts fresh approach to crude oil blending, ropes in collaborators Daniel Colover June 23, 2016: Iran’s new approach to building energy allies is being revealed as the former powerhouse staggers back onto the global stage. The lifting of Western-imposed sanctions on January 17 has given the country a new lease of life. Tehran’s ability to...
World Bank cuts global growth outlook
Move prompted by low commodity prices and sluggish growth in advanced economies IFM Correspondent June 9, 2016: The World Bank has downgraded its 2016 global growth forecast to 2.4 percent from 2.9 percent, which was projected in January. The move was prompted by sluggish growth in advanced economies, low commodity prices, weak global growth and...
50% of oil & gas companies in UK cut jobs
One-third of companies plan further lay-offs this year, says a report IFM Correspondent June 7, 2016: About 50% of all oil and gas companies in the UK were forced to cut jobs in the past 12 months, says a recent report. The Bank of Scotland/Lloyds Banking Group surveyed 141 companies in the sector. The report...