Tuesday, June 30, 2009
BP en CNPC winnen contract Rumaila-olieveld
MSTERDAM (Dow Jones)--Een consortium bestaande uit BP plc en het Chinese CNPC heeft het contract voor de ontginning van het Rumaila-olieveld, de grootste olieveld van Irak, gewonnen. Dat heeft de Irakese minister van Olie Hussain al-Shahristani dinsdag gezegd. Het consortium wilde een vergoeding ontvangen van $3,99 per extra geproduceerd vat olie, maar na onderhandelingen met het ministerie van Olie werd $2 per vat afgesproken.
De olieconcerns konden bieden op het uitbreiden van de productie in Rumaila naar 2,8 miljoen vaten per dag. Momenteel brengt het olieveld 1,1 miljoen vaten per dag voort. Volgens schattingen bevat Rumaila een oliereserve van 17 miljard vaten.
Dit is het eerste toegewezen contract in de eerste open biedingsronde op de ontginning van olievelden in Irak in bijna drie decennia.
Shell consortium biedt op Kirkuk olieveld - minister Irak
MSTERDAM (Dow Jones)--Royal Dutch Shell heeft de handen ineengeslagen met China Petroleum & Chemical, China National Petroleum en de Turke nationale oliemaatschappij TPAO bij de veiling van het Kirkuk olieveld. Dat heeft de Iraakse olieminister Hussain al-Shahristani dinsdag gezegd. Het consortium zet in op $7,89 voor elk extra geproduceerd vat olie, en mikt erop de productie van het veld te vergroten naar 800.000 vaten per dag.
Het Iraakse ministerie van olie biedt $2 per vat. Het consortium is in overleg en zal later op de dag een beslissing nemen.
Labels: Shell
Monday, June 29, 2009
Shell sluit deel productiecapaciteit in Nigeria
russel (tijd/Dow Jones)--Royal Dutch Shell plc heeft een deel van de productiecapaciteit gesloten na een aanval op de activiteiten in Nigeria. Dat zei een bron die bekend is met het bedrijf maandag. Shell heeft bevestigd dat de aanval plaats had op twee olie-bronnen in het Westen van de Niger Delta. De bron meldde dat Shell een deel van de productiefaciliciteit uit voorzorg heeft gesloten.
De Beweging voor de Emancipatie van de Niger Delta zei maandag dat het het Shell Forcados off-shore platform heeft opgeblazen.
Het nieuws volgt nadat een woordvoerder van de Beweging een presidentieel aanbod voor amnestie van de militanten een dag eerder afwees.
Labels: Shell
Shell tekent overeenkomst met Russen over LNG
hell International Trading & Shipping en het Russische Sovcomflot hebben zaterdag in de marge van een bezoek van de Shell-top aan de Russische premier Vladimir Poetin een overeenkomst getekend voor samenwerking bij het verschepen van LNG. Dat maakte Shell bekend.za 27 jun 2009, 14:06
Het gaat om samenwerking bij potentiële LNG-projecten in Rusland inclusief de Noordelijke IJszee. Binnen de overeenkomst kan de toekomstige samenwerking op het gebied van het vervoer van LNG en kennis over het verschepen van LNG versterkt worden onder andere in het Sachalin-2 project.
Scheidend topman Jeroen van der Veer en zijn opvolger Peter Vossen zijn op bezoek bij de Russische premier.
Labels: Shell
Friday, June 20, 2008
Russian President Medvedev in Davos talks
ussian President Medvedev visited Davos on june 8th and talked about the future of the Russian economy.Labels: Economy, President Medvedev, Russia
Thursday, June 19, 2008
Oil Down, tech Up
il is going down on the stock markets today and tech stocks are up.Labels: Markets, Oil, Wall Street
Thursday, June 12, 2008
Thursday, May 26, 2005
BBC NEWS | Business | Giant Caspian oil pipeline opens
BBC NEWS | "Oil is set to flow from the Caspian Sea direct to the Mediterranean for the first time after a $3.6bn (�2bn) pipeline opened on Wednesday."
Thursday, May 19, 2005
US industrial product falls 0.2 percent
"US industrial production fell 0.2 percent in April, according to
Federal Reserve figures that surprised analysts who had been expecting an increase.
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Private economists had been expecting a rise of 0.2 percent in the report, which measures the output of US factories, mines and utilities."
Greenspan could stay at Fed a bit longer
"The Bush administration is considering whether to ask
Federal Reserve Chairman
Alan Greenspan to stay in office a few months past the end of his Fed board term, which expires on Jan. 31, The Washington Post reported on Wednesday.
The newspaper said the delay would give the White House more time to conduct the search for a successor, which could include corporate leaders.
However, a close associate of Greenspan's said the Fed chairman intends to step down when his term expires.
Asked about the Washington Post account, White House spokesman Scott McClellan said: 'We don't speculate on any personnel matters.'"
Friday, April 22, 2005
Greenspan: Budget Deficits Pose Danger
Yahoo! News |"On the same day that
Federal Reserve Chairman
Alan Greenspan issued a fresh warning about the dangers of bloated budget deficits, Congress considered new tax breaks for the energy industry and an $81 billion measure to pay for U.S. military operations in Iraq and Afghanistan.
The events Thursday illustrated the challenges — 'hard choices,' as Greenspan put it — that policy-makers face in trying to control spending.
Greenspan, who steadily has pressed lawmakers, told the Senate Budget Committee that unless the situation is reversed, the economy in the years ahead could 'stagnate or worse.'"
Thursday, April 21, 2005
Worries over US economy hit Tokyo shares
Yahoo! News | "Japanese shares fell sharply on Thursday morning as investors continued to worry about the US economy.
By midday the technology-heavy Nikkei 225 average fell by 2.3 per cent to 10,828.97, and the broader Topix declined by 2.1 per cent to 1,108.22.
The Ministry of Finance said foreign investors had sold a net value of Y126bn in Japanese shares in the week to April 16 - a reverse of net buying the previous week.
Investors bullish on Japan are afraid of a flight of capital away from Japan as commonly happens during times when economic prospects appear to grow dimmer.
Falls in Japanese stocks followed a slide in the Dow Jones Industrial Average on Wednesday to its lowest close in six months, after news of a jump in consumer prices last month increased fears about sharp interest rate rises at a time when the US consumer spending may be running out of steam."
Tuesday, April 19, 2005
Snow: World Economy Strong Despite Oil
Yahoo! News | "The global economy can shake off the drag from higher oil prices and keep expanding provided that key industrial countries make necessary reforms to spur growth, Treasury Secretary John Snow said on Saturday.
At a press conference following a meeting of group of Seven finance chiefs, Snow aimed to put the best face on an outlook the G7 agreed was buffeted by a 'headwind' from costlier oil.
'Even with the drag, the sense is the global economy will continue to grow at a strong clip,' Snow told a press conference after meeting his counterparts from the Group of Seven industrialized nations.
'We do need to continue to address the over-arching concern, which is lack of sufficient growth in the large industrialized countries,' he said. Snow added the United States was doing its part, leaving little doubt that he meant it was Europe and Japan that had to pick up the pace.
In a subsequent address to the International Monetary Fund, Snow sharpened his message, saying: 'The major economies, particularly continental Europe and Japan, need to act more resolutely to increase economic potential.'"
Fed's Bies says central bank should be 'alert' to inflation signs
Yahoo! News | "The Federal Reserve must be 'more alert' to signs of increasing inflationary pressures, even if prices appear to be contained, central bank Governor Susan Schmidt Bies said.
Speaking in Buffalo, New York, Bies said she expects US growth to remain strong, inflation to remain contained and for the Fed to continue to raise interest rates at a 'measured pace.'"
US fears hit stocks in Europe and Asia
Yahoo! News | "Wall Street stocks closed flat on Monday, hovering near five-and-a-half-month lows, while jitters over the US economy sent shares in Europe and Asia sharply lower, underlining a dramatic shift in sentiment which has seen investors fleeing riskier assets in favour of safe-haven investments."
Friday, March 18, 2005
Consumer Sentiment Worsens in March
Yahoo! News |"U.S. consumers became less upbeat in early March as rising gasoline costs made Americans more uneasy about the economy, a report said on Friday."
Wednesday, December 29, 2004
Euro Scores Another Record Vs Dollar
Yahoo! News | "The euro set a record high versus the dollar for the fifth session running on Wednesday and held just below last year's lifetime high against the yen as investors' long-standing grim views of the U.S. currency dominated markets.
Trading volumes were thin in the vacation period between Christmas and New Year and there was little news to hold investors' attention.
"The market has no interest in trying to buy dollars...There are also not too many people actively dealing now," said Paul Mackel, currency strategist at ABN AMRO in London.
By 3:50 a.m. EST the euro rose as high as $1.3646, gaining a quarter percent on the day. "
Thursday, December 23, 2004
OECD Countries Spend More on Research and Development, Face New Challenges
"OECD countries are taking more seriously the need to invest in research and development as a means to boost economic performance and remain competitive in the face of rapid growth in capabilities in countries such as China and Israel, according to the latest edition of the OECD's Science, Technology and Industry Outlook."
OECD Report
Tuesday, December 21, 2004
Snow Sees Spending Slashed in '06 Budget
Yahoo! News | "The Bush administration will seek to slash government spending next year, U.S. Treasury Secretary John Snow said on Sunday, but he was less specific than the president in predicting how quickly the deficit would fall.
Snow, who was asked by President Bush to stay during Bush's second term after heavy speculation he would be replaced, said the administration's budget proposal early next year would rely heavily on spending cuts.
'It will be a tight, disciplined budget with spending under disciplined controls,' he said in an interview on CNN's 'Late Edition' program. 'Everything is being looked at and put under the microscope.'
Snow declined to say what programs are being targeted or how soon Bush would meet his goal of cutting the deficit in half. "
Strong Euro to Be Major Burden for Europe
Yahoo! News |"After a year in which the U.S. dollar fell 5 percent against the euro, the sharply weaker currency isn't expected to rebound soon — and that means it will likely keep eating into European exports, growth and jobs through next year.
The euro peaked at US$1.3470 on Dec. 7, after reaching a series of new highs against the dollar. Some forecasts see it heading past US$1.40 in 2005 — unhappy news for exporters whose goods become more expensive against foreign competition, politicians who want to see more jobs and central bankers waiting for Europe's shaky recovery to take off.
While the current slide, which has brought the dollar some 9 percent lower since Sept. 1, appears to have taken a breather, traders and economists say it's not over yet. Concerns over the U.S. trade and budget deficits are thought to have been the main driving force behind the euro's rise, and financial markets have disregarded U.S. professions of a "strong dollar" policy.
"I think it's very dangerous to say it's stopped," said Lee Ferridge, proprietary trader at Rabobank in London. "
Thursday, December 16, 2004
Fed boosts short-term rates 1/4 point
Yahoo! News | "Federal Reserve policymakers raised interest rates Tuesday for the fifth time this year and suggested they will continue their gradual rate-increase campaign in 2005.
Expressing a somewhat upbeat assessment of the economy, Fed Chairman Alan Greenspan and his colleagues unanimously voted to raise their target for short-term interest rates a quarter-percentage point to 2.25%. That's the highest rate in more than three years, but still low historically and at a level that should foster borrowing and boost the economy."
Tuesday, December 14, 2004
Trade Gap Swells More Than Expected
Yahoo! News | "The U.S. trade deficit widened nearly 9 percent in October to a record $55.5 billion as sky-high oil prices helped propel imports into uncharted territory, the government said on Tuesday.
October's unexpectedly large shortfall pushed the deficit tally for the first ten months of the year to $500.5 billion, surpassing the record of $496.5 billion for all of 2003. "
Lamy Says France Proposed Him as WTO Chief
Yahoo! News | "France has formally proposed former European Union (news - web sites) Trade Commissioner Pascal Lamy as a candidate to become the head of the World Trade Organization (WTO), Lamy said Monday. EU governments backed Frenchman Lamy as Europe's candidate last week for the post of WTO director-general, which former Thai deputy premier Supachai Panitchpakdi is due to leave at the end of August 2005. "
Friday, December 10, 2004
US Fed confidence in outlook grows
Yahoo! News | "US Federal Reserve officials are growing more confident about the economic outlook. The economy, which grew at a 3.9 per cent annualised rate in the third quarter and is expanding at a similar pace now, is seen as having shrugged off the oil-induced soft spot earlier in the year.
Inflation is not seen as an immediate threat. But for several months the Fed has said the federal funds rate must gradually rise to a neutral level to prevent inflation pressures from building.
The Federal Open Market Committee is widely expected to raise rates a quarter-point to 2.25 per cent its fifth rise running next Tuesday. Significant changes to its accompanying policy statement are unlikely.
The US economy is expected to grow about 4 per cent this year. Fed staff and most policymakers forecast growth at or above the economy's trend rate of about 3½ per cent next year. The recent decline in the oil price, if sustained, is a positive for growth next year. "
Thursday, December 09, 2004
Oil Prices Rise for Second Day in a Row
Yahoo! News |"Oil prices rose for the second day in a row on Thursday with an Arctic blast forecast to hit the United States next week seen ramping up demand for heating fuels."
Wednesday, December 08, 2004
Oil Prices Sink to a Four-Month Low
Yahoo! News | " Oil prices sank to a four-month low below $41 for U.S. crude on Wednesday after leading OPEC producer Saudi Arabia questioned the need for the cartel to curb supplies.
U.S. light crude fell 91 cents to $40.55 a barrel, its lowest since mid-July. Prices have fallen more than $9 a barrel, 18 percent, in seven trading sessions since last Monday.
London's Brent crude shed 87 cents to $37.40 a barrel.
Influential Saudi Oil Minister Ali al-Naimi said that as long as buyers required the oil, Riyadh would keep pumping in January at the high 9.5 million barrels a day (bpd) it has sustained since August. "
Dollar Rises 1 Percent Against Euro, Yen
Yahoo! News | "The dollar rose one percent against the euro and the yen on Wednesday as investors bought the U.S. currency back in the run-up to the year-end and eyed the impact of the dollar's weakness on other economies.
Worries about the United States' ability to fund its huge currrent account deficit have led to persistent weakness in the dollar, taking it to fresh record lows against the euro on Tuesday and five-year lows against the yen last week. "
Europe raises pressure on US to prop up dollar
Yahoo! News | "Europe stepped up verbal attacks on the United States over its yawning deficits but failed to arrest the euro's record-breaking, and economically damaging, rally against the dollar.
After the 12 euro nations late Monday issued a statement expressing concern at sharp volatility in currency rates, European Union finance ministers made clear that the onus lies with Washington to balance the world economy.
'We were quite unanimous behind saying that the euro group's message is addressed essentially to the American authorities,' Belgian Finance Minister Didier Reynders said Tuesday as he arrived for the EU meeting.
'It's necessary to persuade our American colleagues to take measures against its budgetary and trade imbalances,' he said, addressing the huge US deficits that lie at the heart of the dollar's current weakness."
Tuesday, December 07, 2004
Dollar Sinks to New Lifetime Low Vs. Euro
Yahoo! News |"The dollar sank to a new lifetime low against the euro on Tuesday after a warning by European officials on the euro's rise went unheeded by investors determined to dump the U.S. currency.
In a joint statement late on Monday, the European Central Bank and euro zone finance ministers gave their starkest warning to date that they were unhappy with the euro's strength.
But the dollar, under pressure from concerns about the massive U.S. current account deficit, touched an all-time low near $1.3468 and a 12-year low against sterling beyond $1.95 early in the European session. "
Thursday, December 02, 2004
Mobile phone sales still booming
BBC NEWS | "New handsets helped Samsung overtake Motorola as the world's second most popular mobile phone brand between July and September, research has found.
The market share of the world's biggest handset maker, Nokia, also recovered to 30.9% from 29.7% in the second quarter.
Nokia still sells more than double the amount of rivals, but its market share remains below levels of a year ago. "
Nigerian senators threaten Shell
BBC NEWS | "Nigeria's senate is to consider sanctions against a unit of Dutch and UK oil company Shell for failing to pay a $1.5bn pollution penalty.
The firm had been told to make the payment by 23 November for alleged environmental damage caused by oil spillage in the Niger Delta region. "
Oil prices plunge on supply rise
BBC NEWS | "Oil prices have fallen 7.4% after US data showed a larger-than-expected increase in crude inventories.
The Energy Information Administration (EIA) said US crude stocks were now 3.5% higher than a year ago, calming worries about a winter fuel shortage. "
Dollar Slides to Lows Versus Euro and Yen
Yahoo! News |"The dollar sank to a record low against the euro and fell to its lowest level since March 2000 versus the yen on Thursday as traders played down the chances of joint market intervention by European and Japanese authorities.
Japan's top currency policy official, Hiroshi Watanabe, said on Wednesday that "conditions are in place" for Japan and Europe to act jointly to support the dollar and that other countries hurt by the falling currency could join in for any intervention.
But many market players said such action was unlikely and continued selling the dollar. "
Tuesday, November 30, 2004
US economy set to slow under weight of oil prices
Yahoo! News |"US economic growth is set to slow to a growth rate of 3.3 percent next year as it absorbs the impact of soaring oil prices, the OECD said.
The OECD also warned that the dollar could fall because of the US current account deficit and said that the Federal Reserve did not need to rush to raise interest rates because inflation was tame. "
Monday, November 29, 2004
Wal-Mart reduces sales forecast
BBC NEWS | "Wal-Mart, the world's largest retailer, has lowered its November growth forecast amid concerns that fuel costs may slow down Christmas retail sales.
The retailer cut its November sales growth forecast for stores open for more than a year to 0.7% from its previous estimate of between 2% and 4%.
Retail analysts are concerned that high oil prices might restrain consumer spending over the festive period.
However, early signs indicated strong spending over the Thanksgiving weekend. "
Friday, November 26, 2004
Oil Up on Weak Dollar, Low Supplies
Yahoo! News | "Oil prices rose on Friday, supported by worries about low stocks of heating fuels in all major consuming regions and the dollar's slide to new lows.
London Brent gained 33 cents to $44.99 a barrel.
Trade was very thin and U.S. markets were shut for the Thanksgiving holiday after settling at $49.44 a barrel on Wednesday, around $6 off a record peak one month ago.
The latest wave of price strength was triggered by a U.S. government report on Wednesday showing heating fuel stocks in the world's largest energy consumer remained around 14 percent below last year ahead of the northern hemisphere winter.
Stocks are also low in Europe, while in Japan, winter kerosene heating stocks are seven percent below last year. "
Dollar Falls to Record Low Vs Euro
Yahoo! News | "The dollar fell to a record low against the euro on Friday and a four-year low versus the yen as traders seized on a report that China has pared down its U.S. Treasury bond holdings.
The report in Shanghai-based China Business News quoted a member of the Chinese central bank's monetary policy committee as saying the country had trimmed its Treasuries in foreign exchange reserves to $180 billion, trying to minimize losses from a falling dollar.
While skeptical of the report, market players still jumped on it as more proof the dollar's sharp slide is a long way from over, with no sign of central banks standing in the way."
Thursday, November 25, 2004
Dollar drops to new overnight low
BBC NEWS | "Despite a slight rally the dollar remained in sight of new record lows against the euro on Thursday, ahead of economic confidence data from Europe.
In New York trade overnight, the euro rose to an all-time high of $1.319, but with the US market closed for Thanksgiving there may be some respite.
The US currency's latest fall follows recent sharp declines on worries about the yawning US trade gap.
But the dollar did rally against the yen after a four-year-low of 102.56 yen.
Some analysts said concerns about yen-selling intervention by Japan had calmed for the moment. "
Wednesday, November 24, 2004
Durable Goods Orders Slip Unexpectedly
Yahoo! News | "Orders for long-lasting U.S.-made goods unexpectedly slipped 0.4 percent last month as demand for computers, cars and civilian aircraft slumped, a government report showed on Wednesday.
The Commerce Department said orders for durable goods -- big-ticket items like cars and refrigerators meant to last at least three years -- would have been much weaker in October were it not for strong military demand.
Non-defense durable goods orders dropped 1.5 percent, the sixth decline in the last seven months, and orders excluding transportation fell 0.7 percent, the department said.
Economists polled by Reuters had expected durable goods orders to rise by 0.5 percent, with non-transportation orders up 0.2 percent and orders excluding defense up 0.3 percent. "
Euro Hits Record Against Dollar
Yahoo! News "The euro soared to new highs against the dollar Wednesday, wiping out modest opening gains on European stocks, while euro zone government bonds fell after a weak Bund auction.
Gold prices remained tantalizingly close to the key level of $450 an ounce, while the yen and other Asian currencies held their own on nagging fears about possible central bank intervention to stem the dollar's slide.
'With markets thin over Thanksgiving you can't rule (intervention) out,' Elizabeth Miller, an analyst at Redtower Research said, referring to Thursday's U.S. holiday.
The euro bought a record $1.3165 and the dollar was changing hands for around 103 yen. "
Tuesday, November 23, 2004
China's central bank tells US not to blame others for economic woes
Yahoo! News | "A senior Chinese central bank official has warned the United States not to blame other countries for its own economic difficulties, a report said.
Li Ruogu, deputy governor of the People's Bank of China, also said in an interview with the Financial Times that foreign pressure would not force China to move faster on freeing up its exchange rate system.
'China's custom is that we never blame others for our own problem,' Li was quoted as saying.
'For the past 26 years, we never put pressure or problems on to the world. The US has the reverse attitude, whenever they have a problem, they blame others.'"
Monday, November 22, 2004
No deal on dollar as US shrugs off European pressure
The Independent | "Europe and Japan failed yesterday to persuade the United States to address the decline in the dollar, despite talks at a fractious meeting of the Group of 20 industrialised and developing nations.
The two camps blamed each other for the currency's fall and for failing to take action to stem it. The US refused to accept German proposals that the group should condemn volatile currency moves.
Last week, the dollar dropped to a record low of $1.3074 against the euro and to a more than four-year low to the yen at 102.67. Analysts said the absence of a co-ordinated stance among the G-20 was likely to lead to further weakening of the dollar."
Oil Over $49 on Heating Fuel, Iraq
Yahoo! News | "Oil prices rallied further on Monday, clawing back toward $50 a barrel for U.S. crude on heightened concerns over low supplies of winter heating fuels.
An explosion on of one Iraq's main southern export pipelines, cutting Iraqi supplies by about 40 percent, also supported prices. "
Snow: U.S. Deficits to Fall
Yahoo! News | "U.S. Treasury Secretary John Snow said on Sunday he assured members of the Group of 20 nations that Washington will slash deficits they blame for a falling dollar and repeated his call for stronger European growth.
He said the impact of a cheaper dollar was not a subject for discussion at the G20 talks and declined to comment on it.
'We're not going to discuss exchange rates, they weren't on the agenda,' Snow said at a press conference when pressed on the issue by reporters who had heard European complaints that big U.S. deficits were the cause of the dollar drop that threatened their recoveries.
An official communique issued at the meeting's conclusion also made no reference to currency swings though it noted that 'downside risks have increased due to oil price volatility, persisting external imbalances and geopolitical concerns.' "
Focus Shifts to Dollar and Rates
Yahoo! News "The post-election stock market rally has been rudely interrupted by the implications of a sliding U.S. dollar, higher interest rates, the U.S. current account deficit and Friday's rebound in oil prices. "
Friday, November 19, 2004
US leading indicators reveal sluggish economy: Conference Board
Yahoo! News | "The US economy is 'losing steam,' the Conference Board said, reporting that the index of US leading economic indicators fell 0.3 percent in October, marking the fifth straight decline. "
House votes to raise US debt ceiling
Yahoo! News | "House votes to raise US debt ceiling: "The US House of Representatives voted to raise the debt ceiling by 800 billion dollars, helping Washington avoid running short of operating funds.
By a party-line vote of 208 to 204, lawmakers agreed to increase the level of the US debt to nearly 8.2 trillion dollars, the third massive debt limit increase in as many years.
The vote comes one day after the US Senate, also on a party-line vote, approved a similar measure.
Democrats in Congress "
Friday, November 12, 2004
Paring US budget deficit should be top priority: economists
Yahoo! News | "Trimming the record US budget deficit should be the top economic priority for the second term of President George W. Bush, a survey of economists showed.
A Wall Street Journal survey of 55 economists showed more than half felt the budget deficit would be the biggest economic challenge for the second term of the Bush administration.
The deficit -- which hit a record 413 billion dollars in the just-ended fiscal year -- was placed ahead of social security, health care and tax reform in the survey. "
Stocks Soar as Oil Falls
Yahoo! News | "U.S. stocks rallied on Thursday as oil prices resumed their retreat and pushed the S&P 500 to a three-year high, with tech shares lifted by Microsoft Corp. and online marketplace eBay Inc.
A sharp drop in oil prices to below $48 a barrel eased some concerns about the impact of high energy costs on corporate profits. "
