Category Archives: Markets & Economy

China Aims For Market Share In African Refining Sector

By Shadow Governance Intel

On 22 March 2017, Sinopec agreed a deal to buy out Chevron’s downstream businesses in South Africa and Botswana, in China’s first major investment into the downstream oil industry in Africa. Although China already has an extensive footprint in Africa, the majority of these operations have been confined to the upstream sector – in oil and gas exploration.

Wintershall, Gazprom eyeing Iran partnership

Germany’s biggest oil and gas company Wintershall says it is looking into a plan to collaborate with Russia’s energy giant Gazprom over projects in Iran. 

The announcement was made by Thilo Wieland, a member of Wintershall board responsible for exploration and production in Russia, Libya, South America.

Saudi Reshuffle Could Completely Shake Up Oil Markets

By Nick Cunningham

The power restructuring in Saudi Arabia this week led to the elevation of 31-year-old Mohammed bin Salman to crown prince, essentially ensuring that he will become the youngest king of Saudi Arabia in the not-too-distant future.

Report: US issues arrest warrants for former VW executives

US authorities have issued international arrest warrants for five former VW managers and developers for their role in the Dieselgate scandal. Germany has reportedly refused to hand them over to the US.

US authorities have issued international arrest warrants for five former Volkswagen (VW) managers and developers over the Dieselgate emissions scandal, reported Munich-based newspaper Süddeutsche Zeitung on Thursday.

Etihad Wants You to Pay For Its Empty Seats

By Deena Kamel

Etihad is in the middle of a strategic review that includes an evaluation of its investments in struggling affiliates Alitalia and Air Berlin.

Etihad Airways will let economy passengers coveting more elbow room bid online for adjacent seats as the Abu Dhabi-based carrier explores new ways to generate revenue in a tough market.

OPEC Has Few Escape Routes From Another Bear Market in Oil

By Angelina Rascouet , Wael Mahdi , and Javier Blas

Oil’s back in a bear market and investors remain unmoved by last month’s agreement to prolong supply cuts, leaving OPEC and its allies with few remaining tools to boost prices.

Qatar wants 10% of American Airlines

American Airlines has received an “unsolicited” approach from Qatar Airways which wants to acquire 10% of the US carrier.

The Pain of Dana Gas in Three Charts. And Its Gain in One

By Anthony Dipaola

Champions of the rapidly expanding $2 trillion Islamic finance market are probably hoping the Dana Gas situation will go away, and they may yet get their wish.

Kurdish Oil Appears Bound for U.S. Again After Three-Year Pause

By Julian Lee

A worker is seen at an oil refinery near the village of Taq Taq, in the autonomous Iraqi region of Kurdistan, on May 31, 2009.

An oil tanker carrying Kurdish crude appears to be en route to the U.S., reviving a trade from three years ago that became a symbol of a dispute between the semi-autonomous region in Iraq and the federal government in Baghdad.

Japan June flash manufacturing PMI shows slight growth slowdown

Japanese manufacturing activity slowed in June as new orders grew at the slowest pace in seven months, a preliminary private survey showed on Friday in a sign of a slight weakening in domestic demand.

Qatar Eyes American Stake in Surprise Twist to Airline Feud

By Michael Sasso , Deena Kamel , and Rick Clough

Qatar Airways Seeks 10% Stake in American Airlines

Only weeks after President Donald Trump accused Qatar of funding terrorism, the nation’s flagship airline has made a surprise overture to acquire a major stake in American Airlines.

Touted sea change in Indonesia shipping network may hit choppy waters

By Eveline Danubrata and Cindy Silviana | JAKARTA

With its towering new cranes and wharves that can handle some of the world’s biggest ships, Indonesia’s main international port has been shaking off its reputation for inefficiency and congestion with a $2.5 billion upgrade.

Biggest U.S. banks clear first hurdle in Fed’s annual stress tests

By Pete Schroeder and David Henry | WASHINGTON/NEW YORK

The 34 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday.

Dollar sluggish but firm, oil bounce helps commodity currencies

By Shinichi Saoshiro | TOKYO

The dollar was little changed on Friday as traders marked time ahead of next week’s U.S. inflation-linked indicators, while commodity currencies such as the Canadian dollar held to gains after crude oil prices bounced.

Oil edges up, but set for worst first-half performance in 20 years

By Henning Gloystein | SINGAPORE

Oil edged up on Friday, recovering slightly from steep falls earlier in the week, but is set for the worst performing first-half in two decades despite ongoing production cuts.

Asian shares flat, still on track for winning week

By Lisa Twaronite | TOKYO

Asian shares flatlined on Friday but remained on track for a weekly gain, while crude oil prices pulled away from this week’s 10-month lows.

Russia’s Gazprom forecasts cost of Turkish Stream pipeline at $6 bln

Russia’s largest natural gas producer, Gazprom, estimates the cost of building two lines of the Turkish Stream gas pipeline to be $6 billion, Gazprom Deputy Chief Executive Andrei Kruglov was quoted as saying by Reuters on June 22.

Saudi Stocks on Cusp of New Rally After Night of Good News

By Srinivasan Sivabalan and Filipe Pacheco

Investors are betting that the biggest two-day gain since 2014 for Saudi Arabian stocks is not a blip but the start of a rally.

Hours after MSCI Inc. placed the country on review for elevation into an emerging market, King Salman promoted his son as heir to the throne. The move signaled a continuation of investor-friendly policy changes including privatization, capital-market liberalization diversifying the economy beyond oil.

Tesla Deals A Blow To Competitors As Its Stock Price Soars

By Jon LeSage

If you look at how Tesla, Inc., has performed on the stock market, you’ll see the electric automaker has the majors beat.

Can U.S. Shale Survive Below $40?

By Nick Cunningham

Many U.S. shale drillers have said that they have full-proofed their operations for $40 oil, having lowered breakeven prices substantially over the last few years.

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