JUBA, South Sudan – South Sudan’s government has directed a full audit into its oil resource management after years of reports of mismanagement of the environment in the oil producing areas. Caesar Oliha Marko, deputy chairperson for a government oversight committee to oversee implementation of the audit revealed that a U.S.-based firm will audit production … Read more
Global head of commodities research at Goldman, Jeff Currie, stated his position on the future of the sector this week, citing two big factors why commodities would continue to go up. One was that while historically stimulus benefited high-income households, current stimulus benefits low-income, who spend a lot more on commodities. The second factor was … Read more
SAO PAULO, Brazil – After replacing the state-controlled oil company’s CEO with a retired general, the Brazilian president blasted its pricing policies and said they should be changed to lower gas and diesel prices, causing a 21% drop Monday in the company’s shares on the São Paulo Stock Exchange. By Milan Sime Martinić Read more
According to Alexei Kutrin, speaking at the SPIEF economic forum this week, “The oil sector should be fully privatized in the next 7-8 years. No state companies are required there now as the statehood brings more harm than benefit to those companies.” He added that oil companies are able to deal with business issues without … Read more
The loonie might go as low as 70 cents to the U.S. dollar in 2017, according to experts. Right now it’s around 73 cents, a 14-month low. The fall of the loonie is tied to the same old things: a strong period for the U.S. economy, interest rate hikes by the U.S. Federal Reserve, and … Read more
This week they hit their lowest level since last November. Brent went below $50 U.S. Crude was at $46.47. Read more