Industrialized Cyclist Notepad


Chevron, Transocean Managers Banned From Leaving Brazil

Seventeen Chevron Corp. (CVX) and Transocean Ltd. executives were banned from leaving Brazil pending an investigation into an offshore oil spill.

The order was signed by a federal judge last week as part of the probe into the 3,000-barrel slick off Rio de Janeiro in November, Marcelo del Negri, a spokesman for the federal prosecutor’s office, said in a telephone interview yesterday. Transocean owned the rig involved in the spill.

via Chevron, Transocean Managers Banned From Leaving Brazil – Bloomberg.



Sometimes you have to go to Canada to find people who understand the concept of depletion

Like this Eric Reguly character of the Globe and Mail:

Why hasn’t the high price triggered a production surge? The biggie, it seems, is that the non-OPEC countries are simply not up to the job. As Barclays points out, non-OPEC supply last year landed at a full one million barrels a day less than forecast by the International Energy Agency. The North Sea (whose production is shared by Britain and Norway) continued its terminal decline. Brazil and Azerbaijan were also the scenes of production disappointments.

Meanwhile, OPEC, dominated by Saudi Arabia, is sweating exceedingly hard. OPEC production volumes are at three-year highs, to the point that the cartel has only about 1.6 million barrels a day of spare capacity, and still prices are climbing.

via CTV News | All the signs point to a falling oil price – except supply.



Brazil Police Strikes
February 7, 2012, 20:01
Filed under: maps | Tags: , , , , , , , ,

Graphic by Stratfor. More commentary here: http://www.stratfor.com/image/striking-security-forces-brazil



Roubini has his eye on Brazil
December 17, 2011, 09:22
Filed under: Uncategorized | Tags: , , , ,