Business

Russia Reaches 2/3 Of Oil Output Cut Target

ANZ said on Thursday that prices were supported by Libyan oil output falling to about 500,000 barrels per day (bpd) due to the shutdown of pipelines from its biggest field. Brent for May settlement was up $0.51 at $51.84/bbl on the Europe exchange, and traded at a $3.07/bbl premium to WTI. US gasoline stocks fell 3.7 million barrels in the week ending March 24, compared with expectations for a 1.9-million barrel drop , the Energy Information Administration (EIA) said on Wednesday.

Business

ConocoPhillips Attacks Debt With $13 Billion In Canadian Divestitures

The deal is the latest sale of energy assets in Canada by worldwide companies gravitating toward higher-profit drilling in USA shale basins. Conoco will retain operated stakes in the Surmont oil sands joint venture (50%) and Blueberry-Montney unconventional acreage (100%).

Business

Utilities vow to finish reactors despite Westinghouse woes

The filing for Chapter 11 protection from creditors will allow Pittsburgh-based Westinghouse, whose nuclear plant projects have been dogged by delays and cost overruns, to renegotiate or break its construction contracts, although the utilities that own the projects would likely seek damages.

Business

US Fed rate hike to have minimal impact on RBI policy

In their efforts to stop investors from shifting to U.S. markets that now offer much higher returns, the central bank of China recently raised their interbank interest rates just a few moments after the Federal Reserve's announcement. It will soon cost consumers more to swipe their credit cards. "They want to make sure they don't short-circuit the recovery", said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Company.

Business

Users Face Uncertain Future After Rollback of Broadband Privacy Rule

Under the proposed guidelines, providers could share and sell non-sensitive information - such as users' names, IP address or anything else not on the sensitive list - but customers would have been allowed to opt-out. "The House must now stop this resolution from moving forward and stand up for our privacy rights", Guliani said. "It won't be long before the government begins demanding access to the treasure trove of private information Internet providers will collect and store".

Business

Cuomo: Congressional GOP has 'declared war on New York'

A short time later in their own release, Republican members of Congress from NY - including Stefanik - suggested the governor was "resorting to fear tactics for political purposes" and putting other forms of state spending ahead of "providing health care to vulnerable populations".


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