Current Edition

Current Edition
Monday, April 20th 2015 - 06:57 UTC

Has the U.S. reached “peak oil” at current price levels?

If prices don't rise to offset those higher drilling costs then production will start declining

The United States Energy Information Agency once again capitulated on the myth that rig counts don't matter and the productivity of wells would largely offset, leaving the industry on a continuous path to higher output. The current consensus of 500,000 B/D additional growth in 2015 US production now appears very much at risk.

Monday, April 20th 2015 - 06:51 UTC

Brazil tells IMF it's working with Congress to restore fiscal balance and structural change

“The current year is a transition year for the Brazilian economy, when we are committed to a swift reversal of the fiscal situation”, said Joaquim Levy

Brazil is working with Congress on a broad agenda of structural changes to improve the business climate, increase productivity and set price signals correctly to stimulate investment, announced Finance minister Joaquim Levy in his speech to the International Monetary and Financial Committee (IMFC) this weekend.

Monday, April 20th 2015 - 06:42 UTC

Brazilian leading contractor admits paying 36m dollars in bribes to Petrobras officials

Camargo Correa is one of the largest privately owner organizations in Brazil with businesses in several fields, and operations in 21 countries

A vice president of construction company Camargo Correa told Brazilian prosecutors that he paid 36 million dollars in bribes to officials of state-controlled oil company Petrobras, the press reported, citing a document prepared by prosecutors.

Monday, April 20th 2015 - 06:31 UTC

IMF warns “lower growth” becoming a relevant challenge over the medium term

The IMF meetings took place amid growing concerns about Greece, and risks of a stronger dollar and low commodity prices have hit emerging markets

The International Monetary Fund warned in a communiqué that while economic growth in developed countries had strengthened, some emerging nations were being hit by weaker commodity prices and exports.

Monday, April 20th 2015 - 06:24 UTC

China cuts banks' reserve ratio to bolster lending and a weak economy

China's economy grew by 7% in the first quarter of the year, a large figure by Western standards, but the lowest for the country since the 2009 financial crisis

China's central bank is to cut its bank reserve requirement ratio by one percentage point. The People's Bank of China said that the new reserve requirement would take effect from Monday. The aim is to stimulate more lending into the nation's slowing economy.

Monday, April 20th 2015 - 06:20 UTC

March inflation in Argentina ranges from 1.3% to 2.12%

Lawmaker Patricia Bullrich said that Argentina's March inflation is what most countries in the world record in twelve months

Argentine inflation in March reached 2.12% over February accumulating 29.8% in the last twelve months according to the average of private consultants, which every month is released by opposition members in Congress. This is one percentage point higher than the official March rate announced by the Argentine government's discredited stats office, Indec, 1.3%.

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