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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iran, Iraq Balk at Committing to Oil-Output Cap — Energy Journal

    Rocky
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    • Post n°1

    Iran, Iraq Balk at Committing to Oil-Output Cap — Energy Journal Empty Iran, Iraq Balk at Committing to Oil-Output Cap — Energy Journal

    Post by Rocky Thu 18 Feb 2016, 7:08 am

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    • By
       
    • CHRISTOPHER HARDER


     
    [size=18]IRAN POSITION ADDS TO TENSIONS
    Iran’s [You must be registered and logged in to see this link.] has thrown into question the future of a [You must be registered and logged in to see this link.] for major oil-producing countries to limit their output to last month’s levels, Benoit Faucon, Summer Said and Asa Fitch report.
    Iraq on Thursday [You must be registered and logged in to see this link.], Summer Said reports.
    “Iran is saying, ‘We are not playing with you,’ ” said John Hall, chairman of the London consultancy Alfa Energy and a longtime observer of the Organization of the Petroleum Exporting Countries, or OPEC. “If Iran is working outside OPEC, the group cannot move. OPEC cannot do anything without Iran.”
    The broken-down oil talks add another layer to the heightening tensions between Saudi Arabia and Iran. An Iranian official cited Saudi Arabia’s production increase while [You must be registered and logged in to see this link.] as a reason to snub any output deal now.
    But United Arab Emirates energy minister Suhail bin Mohammed al-Mazrouei said low oil prices will [You must be registered and logged in to see this link.], Reuters reports.
    KURDISTAN AGREES TO OIL-BUDGET PLAN
    Iraq’s Kurdistan Regional Government said it agrees with a proposal to [You must be registered and logged in to see this link.] in exchange for Baghdad paying the salaries of the Kurds’ municipal employees, Tamer El-Ghobashy reports. It’s a big change in Kurdish policy in what has been an acrimonious battle with Baghdad over control of the area’s oil resources.
    The concern is over whether Baghdad will be able to hold up its end of the bargain, as OPEC member Iraq battles low oil prices, Islamic State militants and an expected deficit of more than $20 billion this fiscal year. Both the Kurdistan government and Iraqi officials said the acceptance of Iraqi Prime Minister Haider al-Abadi’s proposal is a long way from being formalized, but a spokesman for Mr. Abadi said he stands ready to honor the offer despite concerns over Baghdad’s fiscal fitness.
    VENEZUELA TRIES TO PROP UP CRUMBLING ECONOMY
    Fellow OPEC member Venezuela, struggling with its own fiscal fitness amid low oil prices, [You must be registered and logged in to see this link.] for the first time in nearly two decades and devalued the local currency to generate badly needed cash, Kejal Vyas reports.
    Venezuela President Nicolás Maduro underscored the dire financial situation by showing a chart during a televised address that indicated state oil company Petróleos de Venezuela SA transferred only $77 million to the central bank in January, compared with $815 million and $3 billion in the same month of 2015 and 2014, respectively.
    Separately, exploration-and-production company Marathon Oil Corp. [You must be registered and logged in to see this link.] the money set aside for capital projects as it reported its first annual loss in 20 years, Maria Armental reports.
    Cheniere Energy Inc., meanwhile, [You must be registered and logged in to see this link.] from the U.S. Gulf Coast soon, marking the emergence of the U.S. as a major exporter, but the debut of a shale-fueled gas-export industry is raising questions about whether too many sellers are chasing too few buyers, Chester Dawson, Bradley Olson and Christian Berthelsen report.
    MARKETS
    Oil prices rallied on Thursday, boosted by U.S. data indicating shrinking stockpiles of crude and hopes for cooperation between major producers to alleviate the global oversupply of the commodity.
    On Thursday, Iraq said negotiations are continuing between members of the Organization of the Petroleum Exporting Countries and producers outside the group on limiting output. Iran has also expressed support for such a plan but has refused to curb its own production.
    Brent crude, the global oil benchmark, rose 2.6% to $35.39 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 3.2% at $31.64 a barrel. Read our latest market report at wsj.com.[/size]


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