Wednesday, June 19, 2019

Tag: Angola

IMF Cuts Global Growth Forecasts on Brexit, Warns of Risks to Outlook

Brexit causes ‘substantial’ increase in economic, political, institutional uncertainty Global forecast for 2017 cut by 0.1 percentage point, to 3.4 percent If not for Brexit, global forecast would have been slightly higher The International Monetary Fund cut its forecasts for global economic growth this year and next as the unexpected U.K. vote...

The Desperate Plight of Petro-States

With a Busted Business Model, Oil Economies Head for the Unknown. Pity the poor petro-states. Once so wealthy from oil sales that they could finance wars, mega-projects, and domestic social peace simultaneously, some of them are now beset by internal strife or are on the brink of collapse as oil...

De-Petrodollar-ization Esclates – China Imports Record Amount Of Russian Oil In April

We have reported for years that Russia and China have been doing everything they can to displace the use (and influence) of the US dollar. The US of course, either oblivious or too arrogant to care, has continued to bring Russia and China together by annoying both equally with its...

Oil Freeze: Everything You Need to Know About the Doha Summit

Nations representing almost 60 percent of the world’s oil production will gather in Doha on April 17 to discuss freezing their output at January levels in an effort to stabilize prices. Russia, Saudi Arabia, Qatar and Venezuela made a preliminary deal in February and are seeking to add more...

The Untouchables: Why it’s getting harder to stop multinational corporations

Chachengwa had been growing maize and cotton here her whole life. Every year, she took out loans for seeds and fertilizer, and then paid them back with her harvest. Since she lost her husband, she had relied on her two daughters and eight grandchildren to help tend her 75-acre plot.

Africa’s Petrostates Are Imploding

And that’s setting off a dramatic shift in the economic balance of power on the continent. Africa's petrostates are crashing hard. A cool $115 in the summer of 2014, a barrel of Brent crude, the international pricing benchmark, now fetches below $40. And having failed to build massive foreign exchange...

As oil prices tumble, from Algeria, Nigeria, Gabon to Angola, Africa’s producers are in...

The decline in the oil price has plunged Africa's oil and gas industry into dire straits, a situation made worse by factors such as uncertain regulation, corruption and the prospect of political and social instability. It is a particular burden on those economies most reliant on the industry for revenue,...

Russia just one-upped the Saudis in China

Moscow just one-upped the Saudis in China: Russia is officially Beijing's No. 1 crude supplier. "China imported a record 3.92 million metric tons from its northern neighbor in May, according to data emailed by the Beijing-based General Administration of Customs on Tuesday," according to Bloomberg. "That's equivalent to 927,000 barrels a...

Eastern Europe is boosting military budgets, but US is still the big spender

Russia, Latvia, Lithuania and Poland are planning dramatic increases to arms spending, but they remain vulnerable to economic pressures, says thinktank. Russia and its Nato neighbours in the Baltic have agreed dramatic increases in their military budgets, in marked contrast to countries that are further west and away from potential conflict...

ISIS Caliphate meets China’s Silk Road Economic Belt

This report examines the clashing ambitions between ISIS and China. With ISIS’s declaration of a caliphate that encompasses China’s Muslim Xinjiang, Chinese strategists will now consider how ISIS’s Eastward pivot will impact China’s own Westward march to create a Silk Road Economic Belt across Eurasia. While the Western U.S.-led...

China has crossed a major investment threshold that is going to change the entire...

Back in October, the Financial Times wrote that China's outbound investment will soon surpass the amount invested inside the country, marking a new step in the rise of this new economic power. "This is just a matter of time; if it doesn’t happen this year then it will happen in...

Fueling The New World Order: Where Does China Import Its Crude Oil From?

It was roughly half a year ago that China officially surpassed the US as the world's largest importer of oil. Since then, there have been some rather dramatic changes in the global geopolitical landscape, perhaps the most important of which are the ever louder and bolder attacks on the...

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