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Other News

Argentina’s President urges voters to defend her achievements in run-off

Argentina’s president Cristina Fernandez praised her government’s achievements in her first public comments since her party’s lacklustre election performance. She urged voters Argentines to defend them in the presidential run-off election next month. Ms Fernandez used a late night speech to remind Argentines of steps taken by her left-of-centre administration. This included the nationalisation of Aerolineas Argentinas and the YPF oil company, social welfare programmes for the poor and free education in public universities.

Oil & Gas

Russia markets find sweet spot as politics take back seat to oil

As Russian military planes pound Syria, the ruble, stocks and bonds are projecting an uncommon level of giddiness on the part of traders. A week after Vladimir Putin embarked on air strikes on Islamic State, the attacks are infuriating Turkey, NATO calls them a “troubling escalation” and the U.K. says the Kremlin is making the situation in the region “much more dangerous.” Even so, the ruble is enjoying its best start to an October on record, and the RTS stock index is having its strongest showing in a decade. The reason? Oil. The correlation between Russia’s currency and the price of its main export is at an all-time high. Add to that the surge in appetite for emerging-market assets as traders push back the timing of an interest-rate increase by the Federal Reserve. Some investors are unfazed by Russia’s maneuvering in Syria or sanctions over its role in Ukraine.

Other News

Nigerian President will retain country’s oil portfolio in his new cabinet

Nigeria’s President Muhammadu Buhari said he will hold the country’s oil portfolio in his new cabinet, rather than trust anyone else with the source of most of its revenue. Buhari, who took office earlier this year, has promised to combat corruption and made clear he wants to overhaul the oil sector in Africa’s biggest economy. At an annual meeting of world leaders at the United Nations General Assembly in New York this week Buhari said he intended to remain as the minister of petroleum resources.

Other News

Jeb Bush calls for end to ban on US oil exports

The Republican presidential candidate Jeb Bush has called for an end to the ban on US oil exports as well as an ease on restrictions on natural gas exports. The former Florida governor is calling for an end to 1970s-era law prohibiting the US from exporting crude oil. It comes at a time when domestic petroleum production has grown rapidly over the past 10 years.


Libya’s internationally recognised Prime Minister resigns

The head of Libya’s internationally recognized government resigned, just hours after the United Nations opened peace talks meant to end the civil war in the holder of Africa’s largest oil reserves. Abdullah al-Thinni, who heads the government in eastern Libya, said on a television program Tuesday that he will quit all his official posts. An official resignation will be submitted to parliament on Sunday.


Video: Jeb Bush calls for energy subsidies rethink

Jeb Bush, the former governor of Florida and republican candidate for the US presidency, has told a group of voters he would favour ending government subsidies for all forms of energy. Bush said this would include oil and gas if he makes it to the White House next year. This video, which was posted online by environmental group 350 Action, shows the brother of former President George W. Bush saying that if he was elected, he would "phase out, through tax reform, the tax credits for wind, for solar, for the oil and gas sector, for all that stuff".