In February, Russia produced oil at the same rate as in January, at 10.88 million barrels per day (bpd), an almost 30-year high, regardless of
Category: News
Brazil’s Petrobras to Slash Investment
Brazil’s energy giant Petrobras has announced that it will cut its five-year investment plan by about 20 percent next month due to the soaring debt,
Venezuela: Default of a Major oil Producing Company Looming
The Venezuelan state-run oil company PDVSA has about $5.2 billion in payments to bondholders this year, most of it due in October and November. Analysts
Potash Corp of Saskatchewan Curtails Output at Two Canadian Mines
Potash Corporation of Saskatchewan said yesterday (25 February) that it would cut production at its two Canadian mines for four weeks due to increasing pressure
Global Oil Market Dynamics Changing: China and India on Rise
India and China have overtaken the traditionally dominant crude buyers, such as Japan, and challenged the United States as the world’s biggest oil consumer. The
Orascom Stops Making Payments in Iowa Fertilizer Plant Construction Project
The company that is behind an almost $2-billion fertilizer plant under construction in southeast Iowa ceased making payments. In the lawsuit between Maintenance Enterprises, a
BHP Billiton Still Likes Jensen Potash Project despite Low Prices
Australia-based Billiton Ltd, the largest mining company in the world, says it is still very interested in building the world’s biggest potash mine despite the
Mosaic’s Forecast: Potash Prices Will Keep Falling
The US fertilizer giant, Mosaic, said that it expected potash prices to continue falling in response to weak demand caused by more competition and currency
Global Grain Traders Back Away from Fertilizer
A sharp decline in crop prices has created more distance between the world’s biggest grain traders and the global fertilizer industry to eliminate risk. Cargill
India Suspends Potash Imports due to Droughts
India has stopped its potash imports and postponed negotiations for next year’s purchases until mid-2016 due to droughts that have had a negative impact on