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These 15 countries with the World’s Largest Oil Reserves
IN 2011, the government of the United States (U.S.) estimated the world’s proven oil reserves total 1.35 trillion barrels. That is, in the earth that much oil is still there waiting to be appointed to the surface.
Mostly, the oil producing countries are existing today originated from the Middle East, the Gulf of Mexico, and several other regions in the world.
As quoted by CNBC, Tuesday (06/03/2012), based on data from the Energy Information Administration and the CIA World Factbook, here are the countries that have the largest oil reserves in the world.
A. Saudi Arabia.
Oil reserves totaled 262.6 billion barrels, or 17.85 percent of total world oil reserves. Total production in 2010 was 10.52 million barrels, 2.64 million barrels of oil consumption, and U.S. exports to 1.47 million barrels. › Continue reading
Gold luster back Fading
The price of gold began to decline due to a weaker euro and lower oil prices. Thus, this precious metal failed to test technical resistance at the top of USD1.800 per ounce after a sharp rally last week.
This metal could rise sharply after data showed the euro zone money supply grew 2.5 percent in January on an annual basis. The metal is up 13 percent year to date (ytd) after the expected easing of monetary policy as the key to keeping the economy.
Quoting Reuters, Tuesday (02/28/2012), spot gold edged down 0.2 percent and ended at USD1.769, 40 per ounce, after rising 3.00 percent last week, and became the biggest weekly rise in the last four weeks. This precious metal, has been struggling to stay above USD1.780 per ounce, the highest resistance area since last December. › Continue reading
Oil Prices Parking at Lower USD106/Barel
Oil prices fell to below the level of USD106 per barrel in Asia after a report of oil supplies in the United States (U.S.) showed growth beyond the forecast.
As quoted by the Associated Press (AP), Thursday (2/23/2012), the price of oil for April delivery fell 38 cents an advanced USD105, 90 per barrel on the New York Mercantile Exchange. Furthermore, Brent crude fell 20 cents to US122, 7 per barrel in London.
American Petroleum Institute said crude inventories rose 3.6 million barrels last week while analysts surveyed predicted there will be an increase in the use of 1.7 million barrels of oil. › Continue reading
Projected price of Gold will Continue to Go Down
Predicted gold prices will continue to weaken in the coming weeks. This occurs because the potential for a stronger U.S. dollar against other currencies.
Stock market analyst Nico Omer explained for the next few weeks commodities markets will also likely depressed due to the strengthening of the dollar against the rupiah this.
“Gold is possibly bearish as the dollar strengthened and the potential world stock markets and commodity markets are likely to weaken over the next few weeks,” said Nico in a short message to Legal, Monday (02/13/2012). › Continue reading
Greece Meet debt restructuring stalemate
Euro-zone finance ministers said if the Greeks could not continue the agreement on debt restructuring.
As reported by Reuters expect the euro zone ministers had a meeting on Monday to complete a second bailout for Greece, which should have been done at least mid-March to avoid clutter. But the meeting was postponed because of the reluctance of Greece and is committed to reform.
Instead, the ministers held a meeting on Saturday last, to check the progress of the loan package, which is set at 130 billion Euro October.
“The main problem is the lack of reform, or lack of previous action in Greece,” said one official.
Meanwhile, the minister also said the euro zone are not satisfied with the Greek finance minister, Evangelos Venizelos because they believe the minister is more concerned with its position within the party ahead of April elections, rather than talk about reform. › Continue reading
Earn $ 5 M, IPO Facebook the Largest-4 in the U.S.
Facebook targeted $ 5 billion from the results listed its shares on the stock exchange (initial public offering / IPO). This is one IPO with the largest value ever.
Managing social networking site in the world’s largest record mencenangkan performance. The company’s net profit was initiated by Mark Zuckerberg is up 65 percent to $ 1 billion in 2011, while revenues recorded $ 3, 71 billion.
In the prospectus, is mentioned as much as 85 percent in 2011, the company’s revenue comes from advertising.
“There is great need and great opportunity to make everyone in the world connected. To give space to people and change society. The technology and infrastructure to be built today is unprecedented,” Zuckerberg said as quoted by Reuters on Thursday (2 / 2 / 2012). › Continue reading
Oil Prices Touch USD100/Barel Thanks to the Fed
Crude oil prices rose again due to the central bank’s plan of the United States (U.S.) or U.S. Federal Reserve (Fed) to maintain its interest rate until the end of 2014.
After meeting to discuss the policy, which took place over two days, the Fed declared the U.S. economy is sufficiently developed, despite the global economic slowdown, the U.S. unemployment rate is still high and the economy faces significant downside risks.
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“This bodes well for the U.S. dollar to strengthen, and higher commodity prices as the Fed will continue to restrain inflation as part of efforts to revive the U.S. economy,” said Again Capital LLC, John Kilduff, in New York, as reported by Reuters , Thursday (26/01/2012).
“We saw some policymakers in the Fed, choose to see the first increase in interest rates this year, with several others looked at the increase in 2016. In terms that might be a long-term investors may be detained, on accommodation policies of the Fed,” said PFGBest Research analyst Phil Flynn in Chicago. › Continue reading
ILO: World Need 600 Million Jobs
International Labour Organizations (ILO) to assess the needs of workforce jobs is more urgent now. This institution asserted need 600 million new jobs within the next 10 years.
“Despite heavy government efforts, the job crisis continues. One in three workers worldwide, or 1.1 billion people estimated unemployed or living in poverty,” said ILO Director-General Juan Somavia, as reported by the Straits Times, Tuesday (24 / 1 / 2012).
According to him, what is needed now is to create new jobs in the real sector, which should be priority number one side.
“Whether or not we recover from this crisis will depend on how effective government policies,” he said. › Continue reading
Gold Prices Rise Again
Gold prices moved higher after Standard & Poors downgraded the debt of nine European countries that became negative centimeters.
After this step the S & P, the pressure to complete the negotiations for Greece in order to avoid a loan default status (default).
Meanwhile, investors also pay attention to China’s economic data which is an indicator of economic growth for Asia. China will announce the figures gross domestic product (GDP) in 2011.
As quoted by Reuters on Tuesday (1/17/2012), the price of gold moved higher 0.1 percent to USD1.645, 6 per ounce. While the U.S. gold prices rose nearly one percent to USD1.646, 3. › Continue reading
S & P Lower Debt rating 9 European Countries
Standard & Poor’s downgraded the debt of nine euro zone countries. France and Austria should be dropped from the highest debt rating of triple A. But Germany’s debt ratings unchanged.
“The decline in ratings these days because the assessment of policy initiatives taken by European policy makers in recent weeks may be insufficient to fully address the ongoing systemic pressures in the euro zone,” said lambaga US-based agency said in a statement like this quoted by Reuters on Saturday (01/14/2012).
S & P cut ratings Italy, Spain, Portugal and Cyprus as much as two levels and standings Prrancis, Austria, Malta, Slovakia and Slovenia down one level. This downgrade puts Italy in the position of BBB +, as ranked Kazakhstan. While Portugal is now junk status. › Continue reading