State budgets took into account the sharp fluctuations in oil prices this year

Aims to invoke the forces of supply and demand in the global markets in the foundation, to access to the best pricing just for goods and services regular and strategy, as it will be the levels of competition are high, as well as diversity in the number of producers of goods and services, and the variation in the indicators of growth and decline in both producer and consumer, and predicted Company ‘Crescent’ in the weekly report, that all parties up markets to competition ends with the best results and lower losses.

It noted that the forces of supply and demand in the global markets’ did not reflect the fair prices, and did not reach the level of efficiency through which you can determine the size of the real supply and demand, according to the indicators of growth and the current and projected decline.

And saw the report, it is natural move in commodity prices in the global markets in the form of a lasting between hearing and another, and is not normal to be moves daily unjustified and do not reflect tracks the global economy and sectors of production, as not talking here about countries or regions or economic group.

It must have access to the highest levels of efficiency in trading at this level of openness .

He reported that the Brent oil price index fell in 2012 to the lowest level, ie $ 90 per barrel, while able to rebound and rise again, up to $ 111 before the annual closing.

The crude began early this year high, to hit a new level, at $ 118 a barrel, before it starts to decline to below $ 100 a barrel, to settle at $ 105.24.

In contrast oil price index wire ‘NYMEX’ track itself, its lowest level in 2012, below $ 80 a barrel and the highest at $ 98, before settling at $ 95.43 a barrel last week.

The report also pointed out, that the oil price indices reflect the movement of the markets within the ranges are high, because the talk is on strategic commodities such as oil.

While the recorded tracks can be justified a natural, as it reflects the state of weakness and volatility in the global economy.

The report pointed out that producing countries ?alerted when preparing their budgets for this year, accredited so to hedge against price volatility in the ranges are high, the fact that indicators of the global economy has stabilized and did not take a clear path yet, so it must be hedged in advance.

While some reports said that the Gulf states specifically ?relied on expectations prices ranging between $ 60 and $ 75 a barrel this year.
He said that this trend is the most reasonable in the vicinity of the rapid changes and developments in the oil markets and the global economy, due to the acquisition of oil revenues for about 90 percent of the proceeds to the many producing countries.

Thus, the producing countries ?Access avoided in deficit to the approved budgets for this year.

The report declared, that the danger here ?lies in raising the limits of their budgets producing countries in accordance with the high prices and revenues in 2012, as it pushed the increase in revenue to achieve additional government spending on infrastructure projects and development.

As a result, the talk now is about ?may be affected final budget surpluses at the annual closure, which in itself is a positive development, as it is far from going into deficit.

The report of the ‘Crescent’ most important events in the oil and gas sector, in the United Arab Emirates, confirmed the company ‘Dana’ completion of a refinancing deal Sukuk Certificates (speculative instruments) amounting billion.

And heading Abu Dhabi National Oil Company (ADNOC), to conclude a new partnership agreement with Shell to develop the production of higher gas impurities from? Bab field in the emirate.

It owns ADNOC 60 percent and Shell 40 percent of the rights to develop the field, and the ownership of the new company to be created to manage the construction and operation of plants and facilities of the project.

And petroleum sources estimated that the cost of the development of the field $ 10 billion.

The spokesman said the Japanese Foreign Ministry, that Tokyo has signed an agreement for nuclear cooperation and technology transfer with the United Arab Emirates, and told her that it wants to renew the franchise share of oil and gas expires in 2018.

In Iraq, indicated the company Royal Dutch Shell? British – Dutch, that the company South Gas? Iraqi and coalition, which includes Shell and Mitsubishi Japanese, we announced the startup official of the company Basra Gas, which is the largest gas project in Iraq’s history to reduce gas flaring in the southern city of Basra, south of Baghdad.

The company denied ?UAE’s Dana Gas, the rumors about its intention to sell the company’s assets in the Kurdistan region, stressing the insertion options studied in a global stock exchange.

And entered into the Turkish electricity company ‘Karti’ agreement to export electricity to the Kurdistan region in northern Iraq, and has applied for a license for export, in a development that could increase tension between Ankara and Baghdad.

In Kuwait, announced the president of the Kuwait Gulf Oil Company, the company began to implement a project to exploit associated gas fields at a cost of four million Kuwaiti dinars.

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