Louisiana Light • 2 days | 73.02 | -0.64 | -0.87% | |||
Bonny Light • 31 days | 78.62 | -2.30 | -2.84% | |||
Opec Basket • 2 days | 73.65 | +0.08 | +0.11% | |||
Mars US • 322 days | 75.54 | -1.36 | -1.77% | |||
Gasoline • 10 mins | 2.051 | -0.009 | -0.45% |
Bonny Light • 31 days | 78.62 | -2.30 | -2.84% | |||
Girassol • 31 days | 79.56 | -1.80 | -2.21% | |||
Opec Basket • 2 days | 73.65 | +0.08 | +0.11% |
Peace Sour • 7 hours | 68.16 | +1.28 | +1.91% | |||
Light Sour Blend • 7 hours | 67.41 | +1.28 | +1.94% | |||
Syncrude Sweet Premium • 7 hours | 72.16 | +1.28 | +1.81% | |||
Central Alberta • 7 hours | 69.16 | +1.28 | +1.89% |
Eagle Ford • 2 days | 67.39 | -0.28 | -0.41% | |||
Oklahoma Sweet • 2 days | 67.50 | -0.25 | -0.37% | |||
Kansas Common • 3 days | 58.02 | +1.10 | +1.93% | |||
Buena Vista • 3 days | 77.67 | +1.10 | +1.44% |
TMX crude is gaining interest…
Japan’s listed companies, many of…
Some of Europe’s largest oil producers, including Shell and Total, were given permission to begin drilling at four different sites around the coast of French Guiana in South America; however these plans were thrown into doubt at the beginning of June when Nicole Bricq, the newly appointed French environment minister, announced that she was suspending all drilling permits because in their current form they do not take “into account environmental problems.”
Francios Hollande’s new socialist government wanted to revise the outdated French mining code, which governs drilling issues, because it barely considers the environment.
The move was a surprise to the oil companies and received many angry responses.
Unfortunately, in a move that could be considered as a sign of weakness from the newly elected leader, Nicole Bricq has been removed from her post and given the job of minister for foreign trade, whilst the government backtracked on plans to suspend the permits, once again allowing drilling projects in Guiana to proceed.
Le Monde, the French national newspaper, led a front page story questioning the environmental commitment of Hollande, and the leader of the French Green Party (EELV), Pascal Durand, commented that if Bricq “really left because of the exploration in Guiana. If it's the case, it's very serious.” He is worried that it could prove to be “a very bad signal” from the government to the environmental community “and society as a whole”.
Cécile Duflot, the former Green party leader, is now one of Hollandes green ministers and has stated that Bricq does not see her job change as a result of pressure from oil companies, but rather a promotion to a better position. Duflot does not believe there is any link between the suspension of the permits and Bricqs change of job.
By. Charles Kennedy of Oilprice.com
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com
Je parle français, un peu. Y a-t-il quelqu'un qui parle français?