Resource rich countries cannot manage their wealth – report

Only 11 out of 58 countries rich in natural resources can effectively manage their wealth, according to the first of its kind report from the Revenue Watch Institute, a think tank which specializes in effective management of natural resources.

May 24, 2013 15:54

Amazonian Ambition: Rosneft signs another joint venture with Venezuela

Rosneft, the world’s largest publicly traded oil company, is expanding its influence in Venezuela, via a subsidiary of the national oil company PDVSA. The two companies signed a joint venture agreement to develop a river basin in Venezuela.

May 24, 2013 09:32

South Stream: A fresh element of Russian-European energy cooperation?

With a stagnating European economy plans to supply more gas to the West is becoming a challenge. But Russia is taking the risk.

May 21, 2013 13:03

Market Buzz: Japan’s GDP wows and gold hits 9-yr low

Despite other emerging markets performing well, Russian markets hit their lowest close in two weeks. Rosneft fell and the ruble weakened against the dollar on the decision of Bank of Russia to hold the refinancing rate at 8.25 percent.

May 16, 2013 05:34

Mystery investor puts $1bn into new Russian gold mine

In an effort to double gold production by 2018, Russia’s largest gold producer, Polyus, has attracted $1bn in investment for the 3rd largest undeveloped gold deposit in the world.

May 15, 2013 13:07

Libya lost $1bn in oil industry chaos

Libya has lost $1billion due to the disruption in oil production in the past five months alone.

April 30, 2013 13:21