Summit Notebook

Hard road on Japan’s nuclear policy

June 20, 2011

By Kevin Krolicki

Suddenly Taro Kono doesn’t look like quite the lonely maverick in Japan’s Liberal Democratic Party.

Is emerging Europe out of the woods yet?

By Michael Winfrey
October 8, 2010

A surge in portfolio inflows is flooding into emerging central Europe, although yield-hungry investors are picking solid HUNGARY IMF/MATOLCSYpolicy and higher growth over countries still struggling to put the crisis behind them.

Welcome to the 2009 Reuters Paper and Packaging Summit

August 23, 2009

The global paper industry has struggled for more than six years to claw its way out of a slump, as soft demand and overcapacity have kept prices down, leading to poor earnings, production curtailments and layoffs.

Don’t mention the R word

June 4, 2009

Policitians are often scared to use the “R” word, because a recession makes them unpopular. Investment bankers dislike the “R” word too, but in this case it stands for regulation.
Regulation and lots of it is being cooked up in Washington and Brussels in response to the excessive risk-taking that helped bring on the credit crisis.
Credit derivatives are in the firing line as the bad guys of the credit crisis and derivatives in energy and commodities could get caught in the cross-fire.
Oil could also take a hit after rampant speculation was blamed for driving the price to a record of nearly $150 a barrel last year.
Although the quest to get rid of excesses is driven by good intentions, industry insiders say there will be unintended consequences and argue the regulators could have underestimated the difficulty of their task.
“It’s not easy to bring back the genie into the bottle,” Libya’s top oil official Shokri Ghanem told the Reuters Global Energy Summit.

from LEGACY Reuters Summits:

The best geologists want to be in Tullow’s team

June 2, 2009

Tullow Oil is the Manchester United of the energy world -- at least when it comes to recruiting the finest talent.
The oil industry has long complained of the difficulty of recruiting enough highly-qualified staff, but as Europe's largest independent oil explorer by market value, Tullow says it is a magnet for all those geologists ambitious to add discovering a new field to their CVs.
"If you are successful, you will always attract... like everyone wants to play for Manchester United," Aidan Heavey, chief executive of Tullow Oil, told the Reuters Global Energy Summit.
Many oil companies, he said, have ceased exploring, partly because of a difficult financial climate, partly because of a lack of opportunities.
Tullow's exploration successes include major finds in Uganda and offshore Ghana.
Apart from snapping up the finest geologists, Tullow has also been busy grabbing credit. Heavey said banks had made available $2 billion in credit in March this year.
"It's a huge achievement in the current market," Heavey said. "It's probably soaked up most of the credit available for small oil companies."

OPEC’s special relationship with the U.S.

June 2, 2009

The United States may fondly dream of independence from imported oil, but it would do well to remember that the traffic is not one way.
OPEC Secretary General Abdullah al-Badri told the Reuters Global Energy Summit he had been hearing for years that the world’s biggest oil consumer was seeking ways to avoid importing OPEC oil, but he was confident it would carry on burning fossil fuel for years to come.
“I am of an age when I can tell you I have been hearing this for the last 40 years,” Badri said. “We will see another president, with two terms, before we see any change.”
He also warned the U.S. it should be careful what it wished for.
“We would like to tell them they buy most of the resources of our member countries. We are sending them back more than 50 percent of that income to OECD countries, and the U.S. is one of them, to buy medicine, equipment, aeroplanes, spare parts, clothes.”
“Don’t forget the medicine,” he added.

Nasdaq president to finance companies: come hither

May 12, 2009

A fertile planting ground for tech, biotech and even some energy offerings, Nasdaq OMX has historically struggled to lure listings in some other areas, notably financial services.

Kuwait’s Noor bullish on Pakistan

November 5, 2008

Pakistan’s foreign reserves are dwindling fast and many worry about the country descending into chaos.
But Naser Al-Marri, managing director of Noor Financial Investment Co. is taking a longer view of the country.
“I love Pakistan,” he told a Reuters summit. “For me Pakistan is a mini-China.”
The country’s potential lies in its agricultural resources and its potential as a bridge for ferrying energy into fast-growing China.
Marri’s Noor, a major shareholder in Karachi Electric Supply Company, urged Gulf Arab desert countries to invest more in growing crops in Pakistan. Gas could also flow from the Gulf to China through Pakistan, he said.
As Pakistani president Asif Zardari visits Saudi Arabia seeking aid, he would be heartened by some long-term optimism.
“Many people don’t like Pakistan, but I am sure in five years, Pakistan will be the place to be,” Marri said.

Will environment be forgotten in crisis? OMV says no.

October 22, 2008

wolfgang_ruttenstorfer.jpgThere are some who say the economic downturn means ambitious plans to fight global warming should be put on ice.

No gain without pain for European paper makers

August 20, 2008

The current slew of bad news was necessary to get European forestry companies to act, the head of the world’s top paper and board maker Stora Enso said on Wedstora_ceo_web.JPGnesday.