Friday, January 01, 2016 2:21:38 AM
1. Russia 72 ru to the $$
2. Kazakhstan 350 Kzt to the $$$
3. Azerbaijan 1.6 NAM to the $$$
4. Kuwait haven't checked today but is getting more and more unstable
5. Bahrain same
6. Saudi same
7 UAE same
8. Venezuela on the books is about 13 to the USD but in reality its almost 100 to the USD.
4-7 above have had minor changes, but the more they glut the market, the more unstable they become.
Russia, Kz and Az are in real trouble. Their economy is virtually built on a single pillar. Sakhalin as an example, the expansion project, is all but shut down; Tengez project in Kz, only the port is to be built to support their infrastructure; Az offshore is all but shut down and even 1 year overdue maintenance is on a 6 month hold. CSPC is in dire need of a shutdown and they've already missed the regulatory shutdown.
All the pipelines they had planned to go around the Ukraine will not be funded.
Also, keep track of this "BRICS" development-banking group. Venezuela is in big financial trouble, but I'm told with the new year and new political groups elected, this may change. If so and they de centralize their currency, these projects have HUGE O&G potential. I'm buying their currency in hoards...I see a HUGE profit here.
Good Luck in 2016 to all.
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