2016, September, 21, 18:30:00PETROBRAS CUTS 25%
Petróleo Brasileiro SA, as Petrobras is formally known, pledged up to $74.1 billion in capital spending for the 2017-2021 period compared with a $98.4 billion target in the prior four-year 2015-2019 plan, according to a securities filing.
2016, September, 19, 18:35:00EBRD BOUGHT BULGARIA
President Chakrabarti welcomed Bulgaria’s recent actions to strengthen the stability of its financial sector and promote the liberalisation of the energy market. He reconfirmed the EBRD’s commitment to support these reforms with investment and technical advice.
2016, September, 16, 18:00:00IMF BOUGHT AZERBAIJAN
Executive Directors welcomed the steps the authorities have taken to adjust to the decline in oil prices and weaker growth in trading partners. However, they noted that the difficult external environment could hamper macroeconomic outcomes in the near term. While Azerbaijan’s policy buffers remain substantial, the balance of payments, fiscal position, and banking system would likely remain under pressure as the economy continues to adjust. Accordingly, Directors stressed the need to press ahead with reforms to secure macroeconomic and financial stability and promote a diversified and private sector-led economy.
2016, September, 15, 18:40:00UNSTABLE OIL PRICES
The collapse of oil prices has forced Canadian and global producers to slash costs and curtail investment over the past two years. Even after a rebound from a 12-year low earlier this year, oil futures in New York are still about 60 percent down from their 2014 peak. Prices have been mostly stuck in the $40-$50 range for the past four months.
2016, September, 14, 15:15:00IMF WANTS WHOLE WORLD
Growth has also been unequal: in major advanced economies, incomes for the top 10 percent increased by 40 percent in the past two decades, while growing only modestly at the bottom.
2016, September, 14, 15:00:00WBG BUYS BELARUS
Since the Republic of Belarus joined the World Bank in 1992, lending commitments to the country have totaled US$ 1.5 billion.
2016, September, 9, 14:00:00WBG BUYS EGYPT
The World Bank finances projects for faster delivery of benefits to the people of Egypt in key sectors including social safety nets, energy, transport, water and sanitation, agriculture and irrigation, housing, health, as well as supporting employment-intensive projects and financing for micro and small enterprises. The current portfolio of the World Bank in Egypt includes 24 projects for a total commitment of about US$ 7 billion.
2016, September, 7, 18:45:00SAUDI CUTS DEFICIT $20 BLN
The government is reviewing thousands of projects valued at about 260 billion riyals ($69 billion) and may cancel a third of them, three people said, asking not to be identified as the discussions are private. The measures would impact the budget for several years, according to two of the people.
2016, September, 7, 18:40:00IMF SELLS MONEY
“Regarding IMF resources, I am heartened that the G20 leaders supported maintaining access to bilateral and multilateral borrowing arrangements, in line with the objective of preserving the IMF’s current lending capacity. I especially appreciated the G20's call for broad participation of the IMF membership in this effort, including through new agreements. And I am pleased that some countries have already indicated their willingness to make commitments. This should help provide confidence that the IMF will continue to have the capacity to address the needs of its membership.
2016, September, 5, 18:35:00PETROBRAS CUTS 11,704 JOBS
In April, the company said it expected up to 12,000 employees to leave as part of the layoff program.
2016, August, 24, 18:55:00MAJORS DEBT'S RECORD
Exxon Mobil Corp.Royal Dutch Shell PLC, BP PLC and Chevron Corp. hold a combined net debt of $184 billion -- more than double their debt levels in 2014, when oil prices began a steep descent that eventually bottomed out at $27 a barrel earlier this year. Crude prices have rebounded since, but still hover near $50 a barrel.
2016, August, 23, 18:30:00AUSTRALIAN LOOSES
Amid all the gloom inflicted by adverse market conditions, intense focus on efficiency improvement emerges as a bright underlying theme. With oil prices now $50./b after hitting a low of $27 a barrel in January, the expectation is that some stability may finally be returning to the market. Higher oil price is certainly a positive for producers.
2016, August, 19, 18:45:00THAILAND'S LNG WILL UP
Thailand's largest energy firm PTT Pcl plans to import at least 5 million tonnes of liquefied natural gas (LNG) in 2017, up from 3 million tonnes this year as local gas production fades.
2016, August, 19, 18:40:00AUSTRALIA'S OIL PROFIT DOWN
The slumping oil price has carved a chunk out of Australian oil and gas majors, with Woodside Petroleum reporting that profits halved in the first six months of the year while Santos swung to a loss of more than $1bn.
2016, August, 19, 18:35:00NIGERIA MAY LOSE $25 BLN
“This period of low oil price is not a time to jeopardize Nigeria’s long term interests by showing Nigeria as a place not to be trusted, and projecting our business environment as unconducive,”