Share price of Pioneer Natural Resources has dropped 30 percent and Continental Resources is down almost 40 percent. Both companies increased production during the second quarter. Pioneer produced 197,000 barrels of oil equivalent per day (boepd) in April-June, up from 194,000 in January-March, while Continental reported output of 227,000 boepd, up from 207,000. Source Reuters
Tajik President Emomali Rahmon has launched a new hydroelectric station that had been vehemently opposed for years by the late leader of neighboring Uzbekistan, Islam Karimov. Source: Radio Free Europe
At least three tankers loaded with liquefied natural gas (LNG) from Russian LNG facility Yamal have arrived in the United States recently, according to Russia’s Foreign Ministry spokeswoman Maria Zakharova. Source: Oil Price
Iraq restarted exports on Friday of Kirkuk oil, halted a year ago due to a standoff between the central government and Kurdistan’s semi-autonomous region, after a new government in Baghdad agreed a tentative deal with Erbil. Source: Reuters
Gefira tracks the global players in Europe, the USA, Russia and China and anticipates the consequences of their policies
Gefira No. 9 is now available at a discount. 160 euros for 10 issues a year plus access to our archives.
Europe's geopolitical situation resembles that of 1913.
The enlargement of the European Union to the east, Germany's Ostpolitik, economic power and its reluctance to align its policy with France's and Italy's make the break-up of the Union unavoidable. While Germany is gaining a status of a financial superstar, German society is starting to disintegrate.
Nobody dares to ask, but the ECB board is bracing itself for the upcoming break-up of the euro. The Gefira team explains why France or Italy will leave the euro and we investigate how the ECB is preparing for the looming euro collapse.
