Authored by Tsvetana Paraskova via OilPrice.com,
Neither sanctions nor persistently low oil prices are hindering Russia’s ambitions or plans to develop oil resources in its sections of the Arctic.
In April, state-controlled oil giant Rosneft started drilling the northernmost well on the Russian Arctic shelf in the Khatangsky license area in the Laptev Sea. In June, Rosneft struck first oil in the Eastern Arctic in this license.
The world's oldest gold trader is for sale after a massive money laundering scandal may terminally crippled one of the most iconic names in the business.
Senate republicans took a major, if relatively easy, step toward passing Trump's tax plan on Thursday night with the critical passage of a budget blueprint that would protect a $1.5 trillion tax cut from a Democratic filibuster. Senators narrowly voted 51-49 to pass the fiscal year 2018 budget after a several hour-long marathon on the Senate floor. The budget resolution could also pave the way for opening up the Arctic National Wildlife Refuge in Alaska to oil exploration by ensuring that drilling legislation can pass with only Republican votes according to the NYT.
Since the addition of the Chinese renminbi (RMB), i.e. Yuan, to the IMF's SDR basket of reserve currencies last October, more than 60 countries and regions have added and adopted the renminbi as a new reserve currency, according to the latest report on renminbi internationalization by the People's Bank of China.
For anyone who wasn’t included on the 1.5 million person distribution list for Incrementum AG’s latest 160-page annual tome on the gold sector, “In Gold We Trust”, the authors/portfolio managers, Ronni Stoeferle and Mark Valek, helpfully condensed the report into a chartbook containing "only" mere 60 charts. This can be viewed below, and as a courtesy for those short on time, here is our pick of the 14 best charts.