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2014-05-22 17:45:00

OIL: CHINA VS VIETNAM

OIL: CHINA VS VIETNAM

Vietnam has gone around the world to make "irresponsible accusations" against China, China's Ministry of Foreign Affairs said on Thursday.

Ministry spokesman Hong Lei made the comments at a regular briefing on Thursday.

Vietnam is embroiled in a territorial row with China that flared up after Beijing deployed an oil rig in disputed waters in the South China Sea.

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China's positioning of its biggest mobile oil rig in disputed waters in the South China Sea seriously threatens peace, stability, and maritime safety, Vietnam's prime minister said on Wednesday, urging the international community to condemn Beijing's action.

Nguyen Tan Dung held two-way talks with Philippine President Benigno Aquino during an official two-day visit to Manila to discuss defence and security and economic and cultural ties.

 

"China's illegal placement of the oil rig seriously threatens peace, stability, maritime safety and freedom of navigation in the East Sea," the Vietnamese prime minister said in a statement after the meeting at the presidential palace in Manila.

 

"The two sides are determined to oppose China's violations and called on the international community to condemn China's actions."

reuters.com

Tags: OIL, CHINA, VIETNAM

Chronicle:

OIL: CHINA VS VIETNAM
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

OIL: CHINA VS VIETNAM
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

OIL: CHINA VS VIETNAM
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

OIL: CHINA VS VIETNAM
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

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