Shell announced on Wednesday that it will develop the Stones deepwater oil field in Gulf of Mexico. The field will be the world’s deepest offshore oil and gas production project. Today’s graphic looks at offshore oil production in the Gulf of Mexico.
Hundreds of tanker trucks and railroad cars snake for miles through the vast landscape of North Dakota now. For his video diary, Reuters correspondent Ernest Scheyder drove into the Bakken Oil Express, a sprawling project at the heart of the state’s booming oil economy.
Watch more Rough Cuts episodes.
The United States and the European Union this year took a step they had long resisted, imposing trade sanctions to choke off Iran’s lifeblood: oil revenue. Iran’s output has fallen since the latest sanctions took effect, but OPEC has made up for it as Iraq and Libya came back online. Today’s graph shows oil output and the percent change vs. OPEC.
Read the full Special Report: Inside the West’s economic war with Iran.
Brent crude oil fell below $110 a barrel today, dragged down by a firm dollar and worries over weak global economic growth. This is after Brent dropped 4.5% last week on demand worries and a pledge by Saudi Arabia to supply enough oil to the market to keep prices down. Today’s graphic shows the major U.S. buyers of Saudi crude and how the demand has changed since 2011.
What are the risks and the opportunities of investing in Russia today?
Russia, as always, poses a riddle to investors: Even as high prices for oil – its main export – are keeping the $1.9 trillion economy afloat and the budget in surplus, stocks languish at a 50% discount to other emerging markets and capital continues to flee the country, reflecting deep concern about the future of the world’s largest country and oil producer. Although Vladimir Putin exudes strength as a leader, the lack of political choice suggests that Russia’s veneer of stability is fragile.
How the Russian economy and business will fare as the West grapples with its debt crisis will be among the topics discussed at the Reuters Russia Investment Summit, where our journalists will interview some of the country’s most influential entrepreneurs, executives and policy makers. (more…)
Nigeria’s stock index hit a 59 week high today on confidence from the recovery of the banking sector and heavy buying of Union Bank shares. The banking sector is up 36.2% this year on a recovery in earnings, compared with gains in the overall Nigerian index of 15.83%. Today’s graphic is an economic overview of Nigeria, using 4 key charts.
State-controlled Chinese oil giant CNOOC’s $15.1 billion bid for Canadian oil company Nexen this week is the latest in a rapid expansion by Chinese enterprises gobbling up Canadian energy assets. Wenran Jiang, a senior fellow at Asia Pacific Foundation of Canada, explains what’s behind the trend.
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Today was an extremely busy day over at Reuters TV. Here’s a roundup of all the videos that were posted.
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After Hosni Mubarak received a life sentence for his role in civilian deaths during the country’s revolution, protesters marched on Tahrir Square in central Cairo.
Warren Buffett, speaking to the Economic Club of Washington, said he believed the chances of a U.S. recession were very low.
On the other hand, Wilbur Ross, CEO of WL Ross & Co, explains why he thinks the U.S. is headed for recession.
Breakingviews columnists discuss the implications of Governor Scott Walker’s recall election victory for November’s presidential election
Recent oil price dips are a short term phenomenon and will have no impact on Royal Dutch Shell’s spending plans, says CEO Peter Voser.
Ben Bernanke still has plenty of options in the Fed policy arsenal — from a new twist on Operation Twist to all-out QE3. Reuters Fed correspondent Mark Felsenthal explains.
Reuters Global Editor Chrystia Freeland caught up with IMF Chief Christine Lagarde at a conference in Riga, Latvia.