August 27th, 2009
Oil exports from Iraq reached the highest level in July 2003, totaling 63 million barrels, according to statements of Assem Jihad, Oil Ministry spokesman, quoted AFP.
Figures made public by Jihad show in July that Iraq exported 63 million barrels to 57 million barrels in June.
As regards the profit from export activity, at the average of oil price of 64.42 dollars per barrel, Baghdad received 4.66 billion dollars. Iraq has prepared the budget for 2009 taking into account an average oil price of 50 dollars per barrel.
The current level of oil exports is comparable to that of 2003, when oil exports were about two million barrels a day, equivalent of 62 million barrels per month. Oil represents 87% of total revenue in Iraq, state that intends to double its exports over the next five years.
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Posted in Finance, Forex, Money, Trade | No Comments »
August 6th, 2009 | No Comments »
Societe Generale, the second bank in France by market value, has announced that profits fell by 52% in the second quarter, below analysts’ expectations, on the background of write-down operations (reduction accounting value of assets) and increase provisions to loans.
The lowered profit of 309 million euro from 644 million euro after a year, according to the bank headquarters in Paris. The results... Read More
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May 11th, 2009 | No Comments »
Traders of bonds around the world, from Frankfurt to London and New York to Tokyo, think that the U.S. bankruptcy of the Lehman Brothers bank gets lost in the darkness of time, in conditions in which lending costs fall on the territory of the seven most industrialized countries in the world (G7), writes Bloomberg.
Lehman Brothers bankruptcy has caused panic on the markets and was the most important... Read More
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May 8th, 2009 | No Comments »
Reference rate for interest rate, LIBOR, has come close to 1% per year based on the signals of increasingly powerful return of liquidity and confidence in the financial market.
Interest rate on London interbank market for loans in dollars, for a period of three months, had down to a basis point (0.01%) distanced to threshold of 1%, like a response to the attempts of the governments and central banks... Read More
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April 24th, 2009 | No Comments »
JP Morgan Chase, the fourth big U.S. bank by value of assets owned, has returned to profit in the first quarter of 2009, on the fund revenues record, registered in the segment of investment banking.
Bank profits were 2.14 billion U.S. dollars (1.61 billion euro), with 10% below the 2.37 billion U.S. dollars from the similar period of 2008.
Total income of the investment division had climbed to 8.3... Read More
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