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21 июня, 02:30

Serving The Unbanked: The Trillion Dollar Opportunity Banks Don’t See

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For all the talk of an emerging “cashless” society, in much of the world cash is still king. In Mexico, it’s estimated that 65 percent of the adult population is still without a traditional bank account – and 80 percent of all financial transactions are conducted in cash. Yet an upstart company is working to change that. QPAGOS (OTCMKTS:QPAG) has developed a way to offer digital payment services to as many as 2 billion “unbanked” consumers worldwide. By installing self-serve payment kiosks in easily accessible…

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21 июня, 02:00

Musk: Germany Favorite To Host European Tesla Gigafactory

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Germany is a leading choice for a possible future Tesla Gigafactory in Europe, Elon Musk said on Tuesday. “Germany is a leading choice for Europe. Perhaps on the German-French border makes sense, near the Benelux countries,” Musk said on Twitter. Tesla’s chief executive also noted that “To be clear, Tesla European Headquarters will remain in Netherlands.” Tesla started building its first Gigafactory in Sparks, Nevada, in 2014, and Gigafactory 1 only produces battery cells, packs, and drivetrains. Musk has said that…

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21 июня, 02:00

Why OPEC Won't Flood The Oil Market

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The latest from Vienna is that Russia and Saudi Arabia are leaning towards the aggressive end of the suite of options under consideration, but as always, the negotiations remain fluid. Reuters said that Saudi Arabia and Russia could push a 1.5-million-barrel-per-day increase as a negotiating tactic in order to get the rest of the group to sign on to increases of around 500,000 to 700,000 bpd. In fact, the Wall Street Journal reported that Saudi Arabia was shopping a 500,000-bpd increase to fellow OPEC members this week. Some sort of increase seems…

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21 июня, 02:00

OPEC Meeting Could End Without Decision

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Back in 2011, when OPEC met to discuss raising oil production to offset the drop in Libya, resulting from the civil war, Saudi Arabia’s Ali al-Naimi called it “one of the worst meetings ever.” That meeting ended without consensus and this is likely to happen again this week, when the cartel meets to discuss another production increase. The fault line is between Saudi Arabia and Russia, which have both signaled that they are all for a substantial increase in production, of up to 1.5 million bpd, and Iran, Iraq, Libya, and Algeria…

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21 июня, 01:00

Pioneer Sees Oil At $100 Should OPEC Fail To Increase Production

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Pioneer Natural Resources chairman Scott Sheffield—who is in Vienna for an international OPEC conference—warned that oil prices could jump to $100 a barrel if the cartel and friends don’t boost production. “OPEC needs to come out with something -- that they are going to phase in supply as they see supply from Iran, Venezuela and Libya come off the market,” Sheffield told reporters, as quoted by Bloomberg, adding that the production loss from these three OPEC members could reach as much as 1.4 million bpd in the coming…

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21 июня, 01:00

Uncertainty Looms Large Over Latin American Oil

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While oil industry analysts and market participants are watching Venezuela closely for clues about how low its oil production will go, several other countries in Latin America are holding key elections this year, elections that will no doubt shape the countries’ short and medium-term oil policies. These developments could spell trouble for oil supply and oil investment in South America’s biggest crude-producing nations. A populist leftist candidate pledging to undo energy reforms is widely expected to win Mexico’s presidential…

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21 июня, 00:00

Iran Hints At Compromise To Raise Oil Output

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Iran has suggested it could be open to a compromise on a small rise in OPEC oil output after earlier rejecting a plan by Russia and Saudi Arabia to increase production in response to consumer concerns over rising prices. Iranian Oil Minister Bijan Zanganeh on June 20 said cartel members that had cut more than required in recent months could increase output back to higher agreed quotas. Experts said that would effectively mean a slight increase from top producers such as Saudi Arabia, which has been cutting more deeply than required under previous…

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21 июня, 00:00

Niger Delta Militants Threaten Nigerian Oil Facilities

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A relatively unknown group in the Niger Delta is threatening to stop production at oil facilities of the Nigerian Agip Oil Company (NAOC) in the area, saying that a so-called ‘Operation Zero Barrels’ would begin at “any time from 00hrs on Wednesday, June 20.” The group, Niger Delta Activists Forum (NDAF), says that it represents communities in the areas where NAOC—the Nigerian unit of Italy’s oil major Eni—operates, after the company had ignored a 14-day ultimatum to include community residents in its staff,…

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20 июня, 23:00

Global Energy Consumption Soars To New Heights

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This week the 2018 BP Statistical Review of World Energy was released, which covers energy data through 2017. It is the definitive source for global energy production and consumption figures, and a primary source of data for numerous companies, government agencies and non-government organizations. I will take a deeper dive into the report in upcoming articles, but today I want to cover some of the highlights. First, the report shows that the world achieved a new oil production record of 92.6 million barrels per day (BPD), which is the 8th straight…

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20 июня, 23:00

Saudi Arabia Intercepts Houthi Missile Targeting Aramco Facility

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Saudi Arabia has intercepted a ballistic missile that the Iran-aligned Houthi rebels claimed to have fired at an Aramco facility, Saudi state television reports. Houthi-run media outlet Almasirah reported on Tuesday that the rebels in Yemen fired a ballistic missile at Aramco in Asir, days after they had fired a similar missile targeting the Saudi Air Force base in the area. Aramco’s facilities are operating normally and are safe, an official at the Saudi oil giant told Reuters, after the first reports of the Houthi missile attack emerged.…

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20 июня, 22:00

The Permian Faces Shut Ins Due To Oil Pipeline Shortage

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The fastest-growing oil producing region in the United States, the Permian, is nearing the limits of its pipeline takeaway capacity and some producers may be forced to shut in wells within months, according to the chairman of one of the biggest U.S. shale producers, Pioneer Natural Resources. “We will reach capacity in the next 3 to 4 months,” Pioneer’s chairman Scott Sheffield told Bloomberg in an interview on the sidelines of an OPEC conference in Vienna, which is attended by representatives of some U.S. oil companies. “Some…

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20 июня, 20:00

Russia Gears Up To Boost Oil Production In July

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Although OPEC and its Russia-led non-OPEC allies have not yet decided if and how much oil they will restore to the market, Russia’s plans for exports and refinery runs in the coming months point to Moscow preparing to increase its oil production, as early as in July. Russia’s July-September crude oil exports and transit schedules and refinery run plans for the third quarter suggest that an increase in Russian oil production could start as early as in July, Reuters reports. According to export schedules and oil transit plans, Russia’s…