Ramon Herrera

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Taking the Train in Italy: Railroads Simplify Your Vacation

Many Good Reasons to Travel on Italian Rairoads<p>Italy is a major luxury travel destination, but getting from place to place by car is far fromr …

State of U.S. rental market: Rich get more options, poor suffer affordability crisis

Harvard’s annual examination of the rental market finds stark inequalities, and they’re getting worse.<p>While the American Dream may be homeownership, for more and more of us, the current American reality is renting. More than 43 million U.S. residents rent, according to the Census Bureau, growing at …

KEITH THOMSON: The future of fossil fuel

THE Co-op Bank, and most building societies, are significantly different from the big five banks – they won’t invest in coal, oil or gas.<p>This has …

Fossil Fuels

Young people don't want to work for oil companies

The bright minds of tomorrow want to pursue careers at Tesla, not ExxonMobil.<p>Sixty-two percent of teens ages 16 to 19 say a career in oil and gas is unappealing, according to a survey of 1,200 young Americansthat was released this week by EY. That includes 39% who say the industry is very …

Oil & Gas Industry

Saudi Arabia Will Continue To Cut Oil Output For Months And Years To Come

Saudi Arabia has kept its promise. It has cut oil output by 486,000 barrels a day, in line with the OPEC agreement the Kingdom pulled together last October, helping oil stabilize above $50 per barrel.<p>That’s music in the ears of American frackers, who have been bringing oil rigs back to life at a …

Oil

Oil prices boosted by supply outages and deficit forecast from Goldman Sachs

Oil prices jumped to their highest in six months after forecasters at investment bank Goldman Sachs said the world now has a deficit rather than a glut of crude, due to increasing disruptions to supplies particularly in Nigeria and stronger demand.<p>“The oil market has gone from nearing storage …

Oil companies have destroyed the chances of a huge price rebound

By hedging against the volatility in prices, producers are limiting how far up oil prices can go, according to Morgan Stanley's Adam Longson.<p>In a note on Monday, Longson and team write about how "rampant" hedging among oil producers will probably cap West Texas Intermediate (WTI) crude oil prices …

Oil

Another False Oil Price Rally: Crossing A Boundary

The oil-price rally that began in mid-February will almost certainly collapse.<p>It is similar to the false March-June 2015 rally. In both cases, prices increased largely because of sentiment. As in the earlier rally, current storage volumes are too large and demand is too weak to sustain higher …

Oil & Gas Industry

Proposed Bill: Oil & Gas Companies Would Be Liable For Earthquake Damage

<b>DENVER (CBS4)</b> – Colorado lawmakers are debating a bill that would hold oil and gas companies liable for earthquakes that damage people’s homes.<p>The …

Oil

These are the 2 ways negative interest rates could impact oil companies

Negative interest rates are essentially fees that companies are required to pay in order to hold cash with banks. Similarly, banks can be charged fees for holding cash with the Central Bank. What makes negative interest rates so interesting is that the world has never seen a period of widespread …

Economics

Venezuela State Oil Company Cut Spending After Slump in Prices

Petroleos de Venezuela SA cut 2015 capital spending as the state oil company grappled with crude prices that last month extended a decline to the …

Oil

Surge of oil and gas mergers and acquisitions expected

Mergers and acquisitions in the oil and gas sector are expected to step up this year as investors look to capitalise on distressed situations, …

Here's How Oil Companies Are Scrambling to Survive the Price Crash

As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead …

Oil & Gas Industry

Iran sets crude oil export volumes for Europe

Iran plans to sell 300,000 barrels of crude oil a day to European customers now that Western sanctions are lifted, the country's oil minister told …

Oil
Oil
Oil

Debt, defaults, and devaluations: why this market crash is like nothing we've seen before

A pernicious cycle of collapsing commodities, corporate defaults, and currency wars loom over the global economy. Can anything stop it from …

Oil prices may crash further because of oil producers' high debt levels

But according to Jaime Caruana, a General Manager at the Bank for International Settlements, the price of oil could crash even further — because of oil producers' high debt. Oil companies have $1.6 trillion in outstanding debt, Caruana says, triple the amount they carried eight years earlier. …

Oil

GOLDMAN SACHS: The violent crash in oil prices is creating 'real fundamental change'

The price has since rallied more than 20% back above $32, but analysts at Goldman Sachs say the crash means "we are now at a price level that is creating real fundamental change" in the oil market.<p>Jeffrey Currie, Damien Courvalin, Michael Hinds, and Abhisek Banerjee wrote in a note to clients that …

Oil

Warren Buffett's $1 billion bet on oil

Oil prices have plunged this year, but Warren Buffett isn't scared. He's bet nearly a $1 billion on the sector since the start of the year.<p>That's how much Phillips 66 stock Berkshire Hathaway (BRKB) has bought since Jan. 3, according to company filings, the most recent of which was made …

Oil

Why the oil industry could be a stain on economic recovery in US

Although the national unemployment rate has dropped below 5%, rates in six ‘energy’ states have risen as the industry continues to make significant job cuts<p>Early Friday afternoon, Barack Obama took the stage at the White House briefing room to announce that the US unemployment rate had dropped …

Oil

Russia is so desperate it might sell state-owned oil assets

The list reportedly includes Russia's largest state-owned oil company, Rosneft, and its state-owned pipeline monopoly, Transneft, along with the diamond miner Alrosa, the airline Aeroflot, Rostelecom, the shipping line Sovcomflot, and Russian Railways. Two banks — VTB and Sberbank — are believed to …

Oil

Traders are placing huge bets on the future of oil

According to data released by the US Commodity Futures Trading Commission last Friday, the level of open interest in US benchmark West Texas Intermediate crude-oil futures and options rose to 497,280 last week, the largest figure since the data was first collected back in 2006.<p>Essentially, despite …

Markets
Climate

Hopes of Saudi-Russian entente sends oil price rocketing

Crude jumps by more than 8pc as world's rival oil giants hint they could take as much as 2 millions barrels a day off the market<p>Oil prices staged a storming rally on Thursday, rising as much as 8pc on the hopes that Russia was ready to sit down with rival Saudi Arabia and agree a production cut for …

Oil

Our analysts' latest thoughts on Upstream oil and gas

Take your upstream strategy to the next level. Value plays, companies and wells in real-time with intelligence spanning three million wells, 266 …

Oil

When will pre-FID oil projects be commercial again?

When will pre-FID oil projects be commercial again?<p>With an emerging oil supply gap to 2025, more than 20 million barrels per day (b/d) must be …

Wall Street got the China oil story wrong, and it will make everything that's happening now much worse

It has prepared its refiners to dump a massive load of supply onto an already oversupplied market.<p>All of this has to do with China's attempt to invigorate its private markets — to liberalize its economy.<p>Last year, China allowed small, private oil refineries, called teapot refiners, to start buying …

Oil