Economia

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China expands its weight in the world oil market
The Asian giant invests heavily in the purchase of foreign oil assets

China is expanding its presence in the global market ofhydrocarbons. The national oil company China National Offshore Oil Corporation (CNOOC) announced the purchase of Canadian oil company Nexen for 15,100 million dollars. CNOOC is the third largestnational oil company of the Asian country after CNPC and Sinopec. 70% of the shares belong to the Chinese Government. The Asian company Nexen paid for in cash, according to a statement released by CNOOC.The purchase of Nexen will be a step in the development of CNOOC's presence abroad, pointing from the company. In the past two years the Chinese oil company has purchased about 9,000 billion of foreignassets. The total volume of investments of Chinese companies to buy oil fields and production companies amounted to 49,000 million dollars (including buying Nexen), notes Bloomberg. China, which isthe second largest consumer of oil after the U.S. (around 14% of global consumption), is conducting an active expansion into the international energy markets as it continues to need additionalresources. If purchasing Nexen becomes closed, proven oil reserves that belong to CNOOC will increase by 30%.http://actualidad.rt.com/economia/view/49960-China-ampl%C3%ADa-su-peso-en-mercado-mundial-del-petr%C3%B3leo

"Capitalism or insanity?" Asks the President of Argentina before the crisis in Spain In his view, the output does not go through an intervention into the country from the IMF, theEuropean Bank and the European Commission
In his view, the output does not go through an intervention into the country from the IMF, the European Bank and the European Commission

"Is it rational? Iscapitalism or is it madness?" asked the President of Argentina Cristina Fernandez de Kirchner, referring to the crisis in Spain. In this respect considered to look for a solution but "not with the...