IMF predicts 6% growth for Armenia in 2019

YEREVAN, April 18. /ARKA/. The IMF's latest "Global Manufacturing Downturn, Rising Trade Barriers' report predicts that Armenia's economy will grow this year by 6% and will drop to 4.8% in 2020. It says inflation...

Romania initiates new talks with Volkswagen on car plant after Turkey decision delayed

Romania initiated new talks with Volkswagen on Tuesday after the carmaker announced it had postponed a final decision on whether to build a new plant in Turkey, Trade Minister Stefan Radu Oprea was quoted...

Iran Claims To Have Video Evidence Of Oil Tanker Attacks

By Julianne Geiger Iran has claimed that it has footage of last week’s attack on its oil tanker while off the Saudi Arabian Jeddah port, and it proves that the attacks were carried out by Israel,...

A Draconian Crackdown Looms Over Natural Gas

By Nick Cunningham The natural gas industry is reeling as the political climate begins to shift against the industry faster and earlier than many expected. “If large institutional financial banks stop funding fossil fuel companies, that's going...

Electric Vehicle Adoption Overshadowed By SUV Boom

By Nick Cunningham There are now 200 million SUVs on the roads globally, up from 35 million in 2010, according to data the International Energy Agency (IEA). In fact, 60 percent of the increase of the global vehicle...

The Single Biggest Threat To U.S. Oil Jobs

By Nick Cunningham When earlier this year Whiting Petroleum announced it would cut a third of its workforce, the news did not make a huge splash as it was lost among other cost-cutting efforts in the industry. But when...

The Cheapest Oil Ever Sold

By Haley Zaremba An elite government-appointed group called the National Conservation Commission is charged with taking a comprehensive inventory of natural resources in the United States and discover where resources are being inefficiently handled and even...

API: Supersized Crude Build Sends Oil Prices Down

By Julianne Geiger The American Petroleum Institute (API) has estimated a major crude oil inventory build of 10.45 million barrels for the week ending October 10—compared to analyst expectations of a much smaller 2.878-million-barrel build. Last week saw...

South Africa’s Eskom forced to cut power for a second day

JOHANNESBURG (Reuters) - South African power utility Eskom warned of a second day of power cuts on Thursday citing a number of generating units still out of service. A day earlier Eskom imposed its first...

U.S. diplomats, Congress take aim at China; Trump expects trade deal signing

David Brunnstrom WASHINGTON (Reuters) - The U.S. State Department and Congress took aim at China on Wednesday, even as President Donald Trump hailed “goodwill” between Washington and Beijing and said he expected to sign the...

Private sector external debt down in August

Turkey's outstanding short-term foreign private sector debts fell in August, the country's Central Bank (CBRT) said on Oct. 16. Excluding trade credits, the private sector's short-term external loans amounted to $11.8 billion, down $3.6 billion over the end of...

Turkey’s budget sees $15.3B deficit in 9 months

Turkey’s central government budget balance posted a deficit of 85.8 billion Turkish liras ($15.3 billion) in the first nine months of 2019, official figures indicated on Oct. 15. The country's budget revenues rose 19.5% to hit 653.8 billion Turkish liras...

Google unveils groundbreaking phone tech

Alphabet’s Google has unveiled new Pixel smartphones with higher quality cameras, a radar sensor to track hand gestures and faster virtual assistant, but the devices had no surprise features to set them apart from rivals and...

Meeting 2020 revenue collection target to become a challenge for Armenian tax authorities

YEREVAN, October 17. /ARKA/. The revenue collection target of 1 trillion and 602 billion drams, projected by Armenia's next year's budget will become a real challenge for the State Revenue Committee, the head of...

Armenia announces first low-cost airline routes

Ryanair will start flying from Armenia to Italy and Germany next year, and the routes will include the first connection to Europe from Armenia’s second city, Gyumri. Ani Mejlumyan -eurasianet Armenia’s dismal air transport situation...

What’s Really Driving Oil Prices?

By Osama Rizvi The recent attack on the Abqaiq oil refinery saw Brent prices jump 20 percent in a matter of minutes, the largest spike in oil prices since 1982. Ultimately, the sharp increase proved to be temporary...

The Pipeline Lifeline For Texas Oil

Waterborne crude exports from Corpus Christi, TX, reached a record high of 11.379mn bbls, or 1.626mn bpd, in week ending September 27, buoyed by increased flows into the port from new pipelines coming online,...

China Makes A Move On OPEC’s No.2

By Simon Watkins Following a political backlash in Iran over details of its plans to make Iran effectively a client state through various multi-layered oil and gas deals, China has switched its attention – for the...

The Crackdown On Illegal Immigration Is Hurting Oil Drillers

By Tsvetana Paraskova  U.S. crude oil production growth may have slowed down this year, but the largest oil-producing counties in the Permian basin continue to feel a shortage of labor. The predicament for small oil services business owners in...

The IMF’s Latest Report Could Spell Disaster For Oil Markets

By Nick Cunningham The International Monetary Fund slashed its global growth forecast once again, predicting economic growth will fall to its weakest rate since the financial crisis a decade ago. The IMF said that the world economy is in...