‘ OIL PROFITS AT ALL TIME LOW BUT BY MANIPULATION OF MARKETS, PROFITS ARE STILL BEING MADE ‘

#AceFinanceNews – October 19 – Oil profits are being tested. Crude prices have face-planted to their cheapest level since 2010, threatening the balance sheets of companies and the budgets of nations.

Source: Bloomberg New Energy Finance

Take Canada’s controversial oil sands.

With crude prices teasing $80 a barrel for the first time in years, about 25 percent of the synthetic crude produced from the sands is no longer profitable, according to the International Energy Agency.

Stocks of smaller oil companies, which tend to focus on supplies that are expensive to extract, aregetting crushed. Bond holders who have lent to oil prospectors are getting worried they won’t get paid back.

But maybe the biggest question remaining is whether the bounty of U.S. fracking, which made America the world’s biggest oil and gas producer, will wither in the field.

The answer so far: not so much. Here’s a list of break-even points for some of America’s biggest shale-oil regions. Note that most regions continue to be profitable below $80, including the Bakken and Eagle Ford formations, two of the most important sources.

Much of the Eagle Ford play would still be profitable with $50 oil.

Source:

#AFN2014

#canada, #crude, #fracking, #oil, #tar-sands

‘ Russian Sanctions on Kalashnikov Will Damage US Markets ‘

#AceFinanceNews – MOSCOW – July 17 – Imposing US sanctions on the Russian corporation Kalashnikov, which manufactures the world-famous AK automatic assault rifles, runs counter to the interests of American customers, a spokesman for Kalashnikov told ITAR-TASS.

“For Kalashnikov, which is a subsidiary of the Rostecnologies state corporation, the US is an important market for selling arms,” the spokesman said. “It should be noted that the Kalashnikov products are very popular in the US, and the amount of prepaid orders for arms there is three times as big as the annual supplies volume.”

“This means that the sanctions the US Administration has imposed on Kalashnikov contravene the interests of US consumers,” he said.

Kalashnikov Consortium is the largest producer of automatic and sniper combat arms, guided artillery shells and non-military products. It exports arms and tools to 27 countries, including the US, the United Kingdom, Germany, Norway, Italy, Canada, Kazakhstan and Thailand.

#AFN2014 

#canada, #germany, #italy, #kalashnikov, #thailand, #united-kingdom, #united-states

` Police Raided Journalists Homes and Offices of Aller-Media ‘

#AceFinanceNews – COPENHAGEN – May 14 – Police raided the journalists’ homes and the offices of Aller Media, just  over a week after charging a man for supplying gossip magazine Se & Hoer with  confidential information from an on-line payment company.

One of the men was Ken B. Rasmussen, a former journalist at Se & Hoer who  last month released a purportedly fictional book detailing how the magazine used private credit card information to write stories about members of the  royal family.

Se & Hoer scoops included Denmark’s Prince Joachim’s 2008 honeymoon in  Canada, a story which baffled the tabloid competition at the time since it had  been kept secret.

 The credit card transactions of former Danish Prime Minister Lars Loekke  Rasmussen were also said to have been monitored. Actor Mads Mikkelsen is among  a handful of celebrities who have made allegations against Aller Media to the  police.

Copenhagen police said it had searched the offices of Ken B Rasmussen’s  book publisher but added that the company was not suspected of any wrongdoing.

In what has been dubbed “Denmark’s biggest media scandal”, observers have  drawn parallels with Britain’s News of the World, which was shut down by Rupert  Murdoch in July 2011 following allegations of widespread phone hacking.–AFP

#AFN2014

#aller-media, #canada, #denmark, #ken-b-rasmussen, #mads-mikkelsen

Canada Federal Budget 2014 by the numbers: Deficit goes down, revenue goes up

#AFN2014 says `Federal Budget by the Numbers’ #Canada2014

#acefiinancenews, #canada, #federal-budget-2014