BP (BP) should have seen this one coming. An arbitration tribunal set up by BP's existing Russian partners blocked the $7.8 billion share swap deal proposed by BP with Russia's state-controlled Rosneft. The tribunal was setup at the behest of the Alfa-Access-Renova consortium, which is BP's partners Russia's third-biggest oil producer TNK-BP. BP is the third largest of the six oil and gas "supermajors" after Exxon Mobil (XOM) and Royal Dutch Shell. Other competitors include Chesapeake (CHK), Anadarko and Chevron (CVX).

Our price estimate for BP stands at $49.38, implying a roughly 5% premium to its current market price.

Continue reading BP's Rosneft Deal Is Blocked by Russian Tribunal, Risking Costly Resolution

BP's Rosneft Deal Is Blocked by Russian Tribunal, Risking Costly Resolution originally appeared on BloggingStocks on Thu, 31 Mar 2011 17:30:00 EST. Please see our terms for use of feeds.

BP's (BP) headache continues over its planned share swap with Russian-owned Rosneft. According to a report from Sky News, the Association of British Insurers (ABI) announced its concerns over the impact of the swap. ABI reportedly controls 10% to 15% of the U.K. stock market.

ABI's reservations also include a Swedish court's decision to block BP's planned venture with Rosneft in the Arctic. Perhaps most concerning of all -- and not just to ABI -- is Wednesday's report announcing that U.S. prosecutors are considering manslaughter charges against BP for its Gulf of Mexico oil spill. Eleven oil workers were killed as a result of the spill.

Continue reading With BP's Problems, Who Enters the Void?

With BP's Problems, Who Enters the Void? originally appeared on BloggingStocks on Wed, 30 Mar 2011 17:30:00 EST. Please see our terms for use of feeds.

The U.S. Department of Agriculture (USDA) cut its estimates of last fall's corn and soybean crops.The soybean harvest was revised sharply downward to 3.33 billion bushels from 3.38 billion. Corn inventories are already at a 15 year low, were cut by more than 10% to 745 million bushels, as reported in theWall Street Journal.

Let's look at what happened around the world to the grain harvests:

Continue reading USDA Cuts Crop Estimates for Corn and Soybeans -- Prices Soar

USDA Cuts Crop Estimates for Corn and Soybeans -- Prices Soar originally appeared on BloggingStocks on Wed, 12 Jan 2011 17:00:00 EST. Please see our terms for use of feeds.

Continue reading Corn, Wheat and Soybean Prices Surge Higher on Weather Problems

Corn, Wheat and Soybean Prices Surge Higher on Weather Problems originally appeared on BloggingStocks on Mon, 20 Sep 2010 10:00:00 EST. Please see our terms for use of feeds.

In a surprise and unexpected move, Russian Prime Minister Vladimir Putin told Reuters that he was extending the grain export ban until 2011. "I would like to note that lifting of the export ban can only be considered after next year's crops have harvested," Putin said according to Reuters.

Russia is now suffering through its worst drought in nearly 100 years. Grain harvest have been cut by two thirds, down to 60-65 million tons from 97 million tons in 2009.

Continue reading Russia's Putin Extends Ban on Grain Exports

Russia's Putin Extends Ban on Grain Exports originally appeared on BloggingStocks on Fri, 03 Sep 2010 10:00:00 EST. Please see our terms for use of feeds.

The grain markets are weather related. Any change in the normal growing weather pattern sends the markets into turmoil.

The story of the day is Russia. The farm ministry said that Russia will harvest 85 million metric tons of grain, down 5 million tons from the previous forecast. Why is this news? Russia and Canada vie with the U.S. as the second largest world wheat exporter.

Continue reading Wheat Moves Sharply Higher on Rumors of Drought in Russia

Wheat Moves Sharply Higher on Rumors of Drought in Russia originally appeared on BloggingStocks on Tue, 06 Jul 2010 14:20:00 EST. Please see our terms for use of feeds.

Continue reading Oil Prices Rebound Despite Bearish Inventory Report

Oil Prices Rebound Despite Bearish Inventory Report originally appeared on BloggingStocks on Wed, 26 May 2010 18:00:00 EST. Please see our terms for use of feeds.

Continue reading Hugo Chavez Racing Toward Economic Peril

Hugo Chavez Racing Toward Economic Peril originally appeared on BloggingStocks on Tue, 16 Mar 2010 12:00:00 EST. Please see our terms for use of feeds.

In an unusual move, Russia's Finance Ministry sold 30 metric tons of gold to the Russian Central Bank for $1 billion dollars.

A Finance Minister who declined to be identified said the proceeds would be used to ease the crisis in Russia's budget. By way of contradiction, bank representatives said they were unaware of the deal.

Continue reading Russia's Finance Ministry Sold 30 Metric Tons of Gold to the Russian Central Bank

Russia's Finance Ministry Sold 30 Metric Tons of Gold to the Russian Central Bank originally appeared on BloggingStocks on Mon, 21 Dec 2009 17:30:00 EST. Please see our terms for use of feeds.

Continue reading Under the radar: Russia's oil production rises to record 10 million barrels per day

Under the radar: Russia's oil production rises to record 10 million barrels per day originally appeared on BloggingStocks on Fri, 02 Oct 2009 17:45:00 EST. Please see our terms for use of feeds.

OPEC oil ministers want to see a stable U.S. dollar and higher oil prices before they start to increase investment. OPEC maintains that because oil is priced in U.S. dollars it wants the U.S. to keep the dollar stable.

But these are secondary problems. The main thorn in OPEC's side is Russia. Russia has overtaken Saudi Arabia as the world's biggest oil exporter.

Unlike OPEC that is trying to keep a lid on production, Russia has increased production to a record 10 million barrels per day. Russia and other non OPEC countries were not invited to attend the OPEC meeting.

Continue reading OPEC vs. Russia: Power struggle in the oil market

OPEC vs. Russia: Power struggle in the oil market originally appeared on BloggingStocks on Thu, 10 Sep 2009 11:10:00 EST. Please see our terms for use of feeds.

Continue reading Brinker Int'l (EAT) takes Chili's to Russia

Brinker Int'l (EAT) takes Chili's to Russia originally appeared on BloggingStocks on Wed, 19 Aug 2009 12:40:00 EST. Please see our terms for use of feeds.

Continue reading PepsiCo earnings preview

PepsiCo earnings preview originally appeared on BloggingStocks on Tue, 21 Jul 2009 18:00:00 EST. Please see our terms for use of feeds.

Continue reading Under the radar: Pepsi plans to invest another $1 billion in Russia

Under the radar: Pepsi plans to invest another $1 billion in Russia originally appeared on BloggingStocks on Wed, 08 Jul 2009 17:10:00 EST. Please see our terms for use of feeds.

Why does Goldman Sachs Group (NYSE: GS) earn so much money trading equities? The answer lies in a proprietary set of secret codes that Goldman uses when making their trades. In the first quarter of this year Goldman raked in $2 billion dollars from its equity trading and is the leading trader on Wall Street. Even the venerable JPMorgan Chase & Company (NYSE: JPM) only made $1.8 billion.

Now a Russian, named Sergey Aleynikov, who previously worked for Goldman is accused of stealing Goldman"s secret codes. These codes are the property of Goldman and enables them to do high speed and high volume trades in various stock and commodity markets.

Continue reading Who is the Russian accused of stealing Goldman's top secret trading codes?

Who is the Russian accused of stealing Goldman's top secret trading codes? originally appeared on BloggingStocks on Mon, 06 Jul 2009 19:00:00 EST. Please see our terms for use of feeds.

Thanks a lot, Vladimir Putin. The former Russian president (now prime minister) signed an anti-vice law in 2006 that has led to the closure of most casinos in the struggling nation. This move quickly killed more than 400,000 jobs as of July 1 in a country already in the throes of an economic crisis. More than 40,000 casino workers were impacted in Moscow alone, which was home to 30 major casinos and 500 smaller operations.

Four remote Russian regions have now been established as special gambling zones, and gambling is now illegal anywhere outside of these locations.

Continue reading Russian casinos go bust -- gamblers head elsewhere

Russian casinos go bust -- gamblers head elsewhere originally appeared on BloggingStocks on Mon, 06 Jul 2009 15:00:00 EST. Please see our terms for use of feeds.

Some countries like Russia and China can draw on their foreign exchange reserves. Countries which do not have reserves will have to rely on private capital. The world Bank estimates that developing countries will be short up to $635 billion dollars.

Continue reading Are emerging markets the place to invest?

Are emerging markets the place to invest? originally appeared on BloggingStocks on Mon, 22 Jun 2009 14:20:00 EST. Please see our terms for use of feeds.

The BRIC nations -- Brazil, Russia, India, China -- basically the powerhouses of the developing world, recently met to discuss, among other things, the possibility of forming an effort to move away from the dollar as the world's reserve currency.

Among options for consideration: a) a shift to another hard currency, b) a shift to a basket of currencies, and c) the possibility of the International Monetary Fund's special drawing rights unit of account serving as the new reserve currency.

Continue reading No BRIChouse yet: Dollar to remain world's reserve currency

No BRIChouse yet: Dollar to remain world's reserve currency originally appeared on BloggingStocks on Sat, 20 Jun 2009 12:10:00 EST. Please see our terms for use of feeds.

Continue reading Russia's oligarchs lost 73% in 2008

Russia's oligarchs lost 73% in 2008 originally appeared on BloggingStocks on Fri, 17 Apr 2009 13:30:00 EST. Please see our terms for use of feeds.

There's trouble in the oil patch for OPEC. Over the past year, OPEC has cut production at least three times to bring oil production down and keep prices from falling below $40 per barrel. In fact, OPEC wants to bring the price of oil back up to $70-$75 per barrel. The big question is whether it is working.

Well, part of the plan is successful. U.S. imports from OPEC fell 818,000 barrels per day or 14% to 5.02 million barrels per day in January from a year earlier. But if you remember the old adage, "While the cat is away, the mice will play," OPEC's plan is not holding up too well. When OPEC cut production, Russia and Brazil jumped in and did the opposite, namely increase exports to the US.

Continue reading OPEC vs. Russia and Brazil -- production cuts vs. increased exports

OPEC vs. Russia and Brazil -- production cuts vs. increased exports originally appeared on BloggingStocks on Tue, 14 Apr 2009 11:30:00 EST. Please see our terms for use of feeds.