UNITED STATES: ‘ NEW CRUDE OIL FLOODS MARKETS CAUSING GLOBAL OIL PRICES TO DIP ‘

#AceFinanceNews – UNITED STATES – October 13 – So why is this happening? Partly because the United States keeps producing more and more oil, but also partly because some conflict-ridden countries are starting to pick up production.

Libya, for one, is boosting its oil output after civil war and internal tensions had shut things down for a spell. Iraq’s oil sector is slowly recovering.

All that new crude is flooding the market, causing global prices to dip.

Meanwhile, potential economic slowdowns in both Germany and China are driving down forecasts for oil demand (and reducing prices further).

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SOCHI: ‘ Russia and China Discuss $100 Billion of Joint Contracts ‘

#AceFinanceNews – SOCHI – September 19 – Russia and China are discussing over 30 joint projects worth over $100 billion with the frames of the mutual economic cooperation, Kirill Dmitriev, the CEO of the Russian Direct Investment Fund, said on Friday and /ITAR-TASS/ reported. 

' Invest in Russia (RDIF) '

‘ Invest in Russia (RDIF) ‘

We have set up an intergovernmental Russian-Chinese commission and recently discussed over 30 projects worth over $100 billion,” Dmitriev said addressing the International Investment Forum Sochi-2014.

' Investors Part One '

‘ Investors Part One ‘

Investors Part Two

‘ Investors Part Two’

The bilateral investment commission comprising both private and state-run companies gathered for its very first session in China last week.

Asian investors are interested in Russia, however, it takes little longer than usual to establish relations with them and it is important that the relations are organized in a more system-like manner,” Dmitriev added.

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JAPAN: ‘ Cost of Dying Puts One Man Out of Business Making Tombstone’s ‘

#AceFinanceNews – JAPAN (Tokyo) – September 12 – Jianxing An can see he is in a dying business.

 An Jianxing, a 50 year old gravestone business owner and designer, closes the gate of his company showroom in Ibaraki prefecture, north of Tokyo September 10, 2014.  CREDIT: REUTERS/YUYA SHINO

An Jianxing, a 50 year old gravestone business owner and designer, closes the gate of his company showroom in Ibaraki prefecture, north of Tokyo September 10, 2014.
CREDIT: REUTERS/YUYA SHINO

The gravestone designer, who takes pride in works featuring musical instruments and heavenly gates, says years of shrinking

sales are driving him to close up shop in Japan and move back to his native China.

“It hasn’t been easy running a Japanese company these 18 years and I want to keep it going,” An said at his spartan office in suburban Tokyo, where the computers had already been packed up. “But the Japanese market is in decline and I’ve decided to shut down my business here and return home.”

Japan’s aging society should be a boon for Chinese craftsmen, such as An, who dominate the tombstone trade. The number of deaths each year is expected to increase by 30 percent over the next quarter century.

But more Japanese are choosing to have their ashes scattered at sea or planted under a tree, as these options are cheaper than a gravestone, which is usually the last big splurge for many people at a time of intense caution over the economy.

About 40 percent of Japanese already have a spot waiting in an ancestral grave, a survey by a tombstone industry group shows, limiting the scope for potential sales.

At the same time, a fifth or more of Japanese would consider alternative, natural burials. Price is one concern.

Source:

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MOSCOW: ‘ Russia and China Sign Contract in October for Airliner Design’

#AceFinanceNews – MOSCOW (Gorki) – September 08. /ITAR-TASS/. Russia and China will sign a contract in October for drawing up an engineering design for a long-haul wide-bodied airliner, Russia’s Vice Premier Dmitry Rogozin announced on Monday.

When speaking at a Vice-Premiers’ meeting held by Head of Government Dmitry Medvedev, Rogozin said, “In October, we must reach out to signing already an engineering design together with our Chinese counterparts through the channels of the United Aircraft-building Corporation for a long-haul wide-bodied passenger airliner. The market in China (in this respect) is rather vast, and this renders this kind of production profitable in principle”.

Considering that almost 80% of long-haul civil airliners in Russia are imported, the implementation of a joint project with China must be started immediately, Rogozin pointed out.

“On the whole, the potential of Russia’s aircraft building industry is considerable enough,” the Vice-Premier said.

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` Asia Pacific Largest Most Briskly and Developing Market ‘

#AceFinanceNews – MOSCOW – May 24 – The European countries should use a calculator to see whose natural gas is more beneficial for them to buy, Russian Prime Minister Dmitry Medvedev told the Vesti v Subbotu (News on Saturday) TV programme.

“They always come with new ideas” where they could buy gas, even ready to import liquefied natural gas from overseas, said Medvedev. But a simple calculation would show whether the European economy would endure that and how much such gas supplies would cost, he added.

Natural gas imports from the U.S., according to Medvedev, would cost Europe 40-50% more than Russian gas.

“But the main thing is that you need to arrange supplies,” Medvedev said. The U.S. search for new sales markets is comprehensible, but the Europeans behave strangely, he believes: “Why stand in their own light?”

Europe should appreciate long-term relations as Russia does it: “Our gas relations with Europe are imperishable. We appreciate them as this is a very large and important market for us.”

This, however, did not mean Russia would always do the same thing, and as it is developing and expanding, it could seek other markets seeing nothing shameful in that, he said.

Speaking of the EU plans to diversify gas supplies, Medvedev said it was also Russia’s aspiration, and negotiations with Asian partners had been held exactly for this purpose.

Asia Pacific is the largest and the most briskly developing market… and could become the major market for Russia,” Medvedev said.

The long-expected deal with “the Chinese friends” is “a big success”, believes Medvedev. The contract with China ensured Russia’s stability given the present relations with Europe and the EU, and “we pivot both sides and stand on our own legs”, said the Prime Minister.

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Gazprom/CNPC Agreement: ` Ink Barely Dry on the Paper and Gas Holding’s Stocks Rocket by 20% ‘

#AceFinanceNews – MOSCOW – May 21 – Russian gas monopoly Gazprom will get $25 billion in prepayment from the Chinese National Petroleum Corporation (CNPC) to be allocated for the Sila Sibiri (Power of Siberia) pipeline under the gas supply deal, a source close to Gazprom told ITAR-TASS.

Supplies of Russias Natural Gas

 The amount is similar to the earlier announced cost of the pipeline with an annual capacity of up to 38 billion cubic metres.

Construction would start as soon as the contract is signed, said Gazprom’s CEO Aleksey Miller. Gas should first be sold – this is the formula Gazprom had always stuck to, he said.

The companies signed the 30-year contract for gas supplies worth $40 billion to China via the eastern route pipeline on Wednesday.

Miller described the deal as Gazprom’s so far major gas contract but declined to reveal the gas price referring to commercial confidentiality.

The document granted the sides preferential tax regimes, he added.

Russian President Vladimir Putin told journalists in Shanghai works would start on the next day after the deal, as the sides would start to work on the western route for supplies from Western Siberia.

No strong growth in Gazprom stocks is to be expected over the short-term as the contract with China had already been priced in.

The gas holding’s stocks have already rocketed more than 20% from the local low of 122.8 rubles ($3.559 exchange rate fixed at May 21) per stock on April 28 to 149 rubles ($4.3) on Tuesday.

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` Gazprom Getting Ready to Sign 30 Year Gas Contract with China ‘

#AceFinanceNews – RUSSIA/CHINA – May 19  – Russia and China are set to sign a long-awaited 30-year gas contract during a two-day meeting, when Russian President Vladimir Putin visits Shanghai on May 20-21.

Gazprom

Gazprom, Russia’s largest natural gas producer, and China National Petroleum Corporation (CNPC) are set to sign a gas deal that will send 38 billion cubic meters of natural gas a year eastward to China’s burgeoning economy, starting in 2018.

The timing is almost flawless as Russia is looking to shield itself from Western sanctions by pivoting towards Asia, and China desperately needs to switch from dirty coal to more environmentally friendly natural gas.

“The arrangements on export of Russian natural gas to China have nearly been finalized. Their implementation will help Russia to diversify pipeline routes for natural gas supply, and our Chinese partners to alleviate the concerns related to energy deficit and environmental security through the use of ‘clean’ fuel,” President Vladimir Putin said.

The deal has been on the table for over 10 years, as Moscow and Beijing have negotiated back and forth over price, the gas pipeline route, and possible Chinese stakes in Russian projects. The gas price is expected to be agreed at between $350-400 per thousand cubic meters.

The deal has been on the table for over 10 years, as Moscow and Beijing have negotiated back and forth over price, the gas pipeline route, and possible Chinese stakes in Russian projects.

The gas price is expected to be agreed at between $350-400 per thousand cubic meters.

” Of course Russia wants to sell gas and resources at the highest possible prices. But because of the sanctions from European partners, we need to find a partner that can buy our gas long-term, which is why at the moment China looks very attractive to us,” Aleksandr Prosviryakov, a partner at Lakeshore International, a Moscow-based asset management firm, told RT at a Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI) in Moscow ahead of the big meeting on Tuesday.

On Sunday, Gazprom chief Aleksey Miller sat down with his CNPC counterpart, Zhou Jiping, in Beijing to discuss final details, including price formulas.

 

Russia-China-Oil-Pipeline

But the sticking point is how to finish the pipeline from Russia to China.

Currently there is one complete gas pipeline that runs throughout Russia to the Chinese border, “Siberian Power” which Gazprom broke ground on in 2007, three years after Gazprom and CNPC signed a strategic cooperation agreement in 2004.

The pipeline stretches across Russia’s Far East and after extension to China, it will deliver gas to the country’s populous north, near Beijing.

“Now is the time for Russia to compromise a little bit so that they can lessen their dependence on Western Europe as a buyer of Russian gas. Diversification is a strategy for Russia to have good long-term business relationships with both Europe and China,” Benedicto Yujuico, president of the Confederation of Asia-Pacific Chambers of Commerce and Industry, told RT at an Asian business gathering in Moscow on Wednesday. 

 

A record amount of agreements are expected to be signed at the working meeting between Russia and China. Already 30 out of the 43 prepared agreements are expected to be inked, according to presidential aide Yury Ushakov, as reported by RIA Novosti. 

 

http://tinyurl.com/lscg22h

http://tinyurl.com/lscg22h

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` China is looking at `Alternative Energy Projects in the Crimea ‘ meanwhile Gas Supplies are being Finalised ‘

#AceFinanceNews – Moscow – April 14 – China takes interest in alternative energy projects in Crimea, Russian Vice-Premier Arkady Dvorkovich.

“We also agreed (during talks in China) that we will look into new projects, including in our new regions. Chinese colleagues who deal with alternative energy, take interest in these projects in the Republic of Crimea,” Dvorkovich said at a session chaired by Prime Minister Dmitry Medvedev.

Gazprom’s contract on supplies of Russian gas to China would be finalized by the upcoming visit to China by Russian President Vladimir Putin, due in May, he said at a session chaired by Prime Minister Dmitry Medvedev on Monday.

Also Russia may increase electricity, coal supplies to China fourfold.
“Talks on gas are nearing completion, and there is a general intent to finish that work before Russian president’s visit,” he said.

Tass – Russian Media and Energy News Sources.

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Russians Energy Minster says ` Domestic Gas Prices in `Europe ' Could Rise by 50 Percent if it Cut's Supplies from Russia '

#AceFinanceNews – EUROPE – April 04 – (RT) – “Moving away from pipeline transportation of natural gas, construction of terminals and deliveries of liquefied natural gas will lead to an increase in gas prices in Europe from the current $380 per 1,000 cubic metres to at least $550,” Novak said in an interview to the Russia 24 TV Channel.

“And the question arises: are the economies of European countries ready to supply and consume gas at such a price?” the Minister asked.

The US has insisted that Europe needs to urgently cut its dependence on Russian gas, with the US Secretary of State John Kerry saying Moscow should no’t use energy exports as a political weapon.

“It really boils down to this: no nation should use energy to stymie a people’s aspirations,” Kerry said in Brussels on Thursday, the same day Russia’s Gazprom increased the price to Ukraine another $100 per 1,000 cubic metres.

On Wednesday the US and EU reaffirmed their plan to move away from Russian gas, stressing that developments in Ukraine “have brought energy security concerns to the fore” .

Meanwhile, Russian energy companies have started to feel the pulse in markets outside Europe, mostly focusing on Asia.

Gazprom talked to Kuwait and Egypt about increasing LNG supplies and hopes to sign a long-term supply deal with China next month.

Also, the president of Russia’s oil major Rosneft has toured Japan, South Korea, Vietnam and India.

RT – INS – IT

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` Top Russian Officials push to Remove the `Petrodollar ' in Favour of other `BRICS' or Alternative Currencies '

#AceFinanceNews – Worldwide News – April 04 – (INS) – The existence of “petrodollars” is one of the pillars of America’s economic might because it creates a significant external demand for American currency, allowing the US to accumulate enormous debts without defaulting.

If a Japanese buyer want to buy a barrel of Saudi oil, he has to pay in dollars even if no American oil company ever touches the said barrel. Dollar has held a dominant position in global trading for such a long time that even Gazprom’s natural gas contracts for Europe are priced and paid for in US dollars.

Until recently, a significant part of EU-China trade had been priced in dollars.

Lately, China has led the BRICS efforts to dislodge the dollar from its position as the main global currency, but the “sanctions war” between Washington and Moscow gave an impetus to the long-awaited scheme to launch the petroruble and switch all Russian energy exports away from the US currency .

The main supporters of this plan are Sergey Glaziev, the economic aide of the Russian President and Igor Sechin, the CEO of Rosneft, the biggest Russian oil company and a close ally of Vladimir Putin. Both have been very vocal in their quest to replace the dollar with the Russian ruble.


Now, several top Russian officials are pushing the plan forward.

First, it was the Minister of Economy, Alexei Ulyukaev who told Russia 24 news channel that the Russian energy companies must should ditch the dollar. “ They must be braver in signing contracts in rubles and the currencies of partner-countries, ” he said.

Reuters reports, that Russia is close to entering a goods-for-oil swap transaction with Iran that will give Rosneft around 500,000 barrels of Iranian oil per day to sell in the global market. The White House and the russophobes in the Senate are livid and are trying to block the transaction because it opens up some very serious and nasty scenarios for the petrodollar. If Sechin decides to sell this Iranian oil for rubles, through a Russian exchange, such move will boost the chances of the “petroruble” and will hurt the petrodollar.

VOR – Russian and Serbian News – INS

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