Louisiana Light • 3 days | 72.39 | +1.98 | +2.81% | |||
Bonny Light • 2 days | 75.19 | +1.17 | +1.58% | |||
Opec Basket • 3 days | 72.79 | -0.28 | -0.38% | |||
Mars US • 2 days | 71.39 | +1.89 | +2.72% | |||
Gasoline • 2 days | 2.501 | +0.065 | +2.65% |
Bonny Light • 2 days | 75.19 | +1.17 | +1.58% | |||
Girassol • 2 days | 77.03 | +1.40 | +1.85% | |||
Opec Basket • 3 days | 72.79 | -0.28 | -0.38% |
Peace Sour • 2 days | 64.35 | +2.01 | +3.22% | |||
Light Sour Blend • 2 days | 65.65 | +2.01 | +3.16% | |||
Syncrude Sweet Premium • 2 days | 74.60 | +2.01 | +2.77% | |||
Central Alberta • 2 days | 63.95 | +2.01 | +3.25% |
Eagle Ford • 3 days | 66.58 | +2.01 | +3.11% | |||
Oklahoma Sweet • 3 days | 66.50 | +2.50 | +3.91% | |||
Kansas Common • 4 days | 58.25 | -1.50 | -2.51% | |||
Buena Vista • 12 days | 76.15 | -1.09 | -1.41% |
Russian state-run oil giant Rosneft…
Oil prices jumped after the…
Mongolia has historically remained within Russiaâs sphere of influence, except for it southern regions, now incorporated into the Peopleâs Republic of China as âInner Mongolia.â
Now Beijingâs cash is allowing it to enter the Mongolian market, as a joint venture including Chinaâs Shenhua Energy Co moves to acquire a 40 percent stake in the western Tsankhi block of Mongolia's Tavan Tolgoi coal project, which would give Shenhua the biggest share of one of the world's biggest coking coal deposits.
In a historic reversal of influence in Mongolia between Russia and China, the Mongolian government released a statement noting that after the 40 percent Shenhua share, a Russian-led consortium would control 36 percent of the project and U.S. mining concern Peabody Energy Corp. would own the remaining 24 percent, according to a draft proposal to be submitted to the Mongolian parliament, the Shanghai Daily reported.
UOB-Kay Hian senior commodities analyst in Hong Kong Helen Lau stated, "This is a big win for Shenhua and will give a significant boost to its long-term growth prospects."
While analysts believe that the Tavan Tolgoi project may require an initial investment of more than $7 billion before it begins production, it is seen as an integral component to upgrading the nation's economy.
By. Joao Peixe, Deputy Editor 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