What a decade! A rapidly urbanizing global population driven by tremendous growth in emerging markets has sent commodities on quite a run over the past 10 years. If you annualize the returns since 2002, you find that all 14 commodities are in positive territory.
A precious metal was the best performer but it’s probably not the one you were thinking of.
NEW DELHI: After more than a 4-year break, India will this month launch auction of discovered oil and gas fields on simpler contractual terms together with pricing and marketing freedom. Oil Minister Dharmendra Pradhan will on May 25 launch the Discovered Small Fields Bid Round, official sources said. Last exploration licensing round concluded in March 2012. That was the Ninth round of bidding under the New Exploration Licensing Policy (NELP). A total of 256 block were awarded in the nine rounds of NELP.
NEW DELHI: More than a third of the 69 small and marginal oil and gas fields that the government plans to auction to private firms are in Mumbai Offshore and the biggest of them holds about 15 million tons of oil reserves. Of the 69 idle oil and gas fields of state-owned ONGC and Oil India Ltd which are to be auctioned, 27 are in Mumbai Offshore while another 15 are in the prolific Krishna Godavari (KG) basin, official sources said. As many as 10 discoveries in the Assam Shelf are also on offer.
Canada’s overheated housing market is starting to feel the effect of Europe’s negative interest rates.
Yields on about $8.8 billion of Canadian mortgage bonds denominated in euros and francs are being pushed below zero as European Central Bank asset purchases help to drive down borrowing costs worldwide.
I inadvertently left off an item regarding trade wars that I intended to mention in Mish 2012 Predictions; 2011 Year in Review with Max Keiser. I also have some commentary on the US election, precious metals, and energy.
NEW DELHI: After a gap of more than 4 years, India today offered for auction 46 discovered oil and gas fields through international bidding on simpler contractual terms together with pricing and marketing freedom. Oil Minister Dharmendra Pradhan said bidding for the Discovered Small Fields Bid Round will open on July 15 and last date of bidding is October 31. The fields offered hold 625 million barrels of in-place oil and gas reserves. Last exploration licensing round concluded in March 2012. That was the Ninth round of bidding under the New Exploration Licensing Policy (NELP).
Back in January, the panic surrounding the energy space and specifically the collapse in industry cash flows as a result of the collapse in oil prices, peaked when one after another company announced they would halt dividend payments and all other distributions to shareholders to conserve cash, culminating with the dramatic announcement on January 30 when one of the giants in the space, energy major Chevron, suspended its stock buybacks.
CALGARY — Canadian Pacific Railway Ltd., fresh from a tumultuous year of management and board shakeups that saw veteran railroader Hunter Harrison installed as chief executive officer after a bitter proxy battle, is hitching a ride on the great U.S. petroleum revival.
NEW DELHI: As many as 28 oil and gas fields out of the 69 small and marginal fields of state-owned firms that the government plans to auction to private players are in Mumbai offshore, Oil Minister Dharmendra Pradhan said today. Of the 69 idle oil and gas fields of state-owned ONGC and Oil India Ltd which are to be auctioned, 28 are in Mumbai Offshore while another 14 are in the prolific Krishna Godavari (KG) basin, he said in a written reply to a question in Lok Sabha here. As many as 10 discoveries in the Assam shelf are also on offer.
The share of Canadians who are predicting higher home prices in their neighborhood remained above 40% for a fifth week in the latest weekly polling by Bloomberg and Nanos Research. That’s kept consumer confidence levels at near the highest in four years, the data show.
Improving views on housing follow a recent acceleration in the real estate market in recent months that reflects a shift by policy makers at the Bank of Canada to dim expectations for rate increases as it plays down concerns over rising household debt to focus on stimulating the economy.