Russian Giant invests in Morocco Oil Resources

 

The oil curse is it the fear in Morocco? But we fear the worst in the country so far spared by the Arab revolutions, while already the U.S. oil giant Chevron has signed an agreement with the Moroccan authorities to conduct exploration work on three sites off its coasts. This is enough to create tension between the Kingdom of Morocco, Portugal and Spain, the Moroccan government has recently announced the establishment of a provisional commission for the delimitation of the continental shelf on the Atlantic shore. Now, it is the Russian Abramovich who invests in the kingdom. Thus, the Russian billionaire Roman Abramovich and Circle Oil Plc, Irish Oil Company, just lay the groundwork for an agreement to invest more than $ 20 million for operating a first site in the Basin Gharb.

 Circle Oil says elsewhere on the internet, that the deposit "has been tested with success." Five additional drilling should be carried out by the company, which has two exploration licenses in the area. Recall that Abramovich made his fortune in the oil industry in 2005. He turned back to the oil sector in investing in Latin America and Africa. Since 2011, Morocco has witnessed the signing of new oil contracts for offshore areas like Foum Assaka, Cape Boujdour, Mazagan, Essaouira and Maritime Juby and the onshore area Doukkala. In addition, there are five agreements on recognition of Anzarane offshore areas of Tarhazoute and onshore areas Boudnib and highlands.

The Kingdom of Morocco said today make up the delay through "improved drilling techniques that now allow easier access to deep-water deposits." In order to encourage investors, the Moroccan government has implemented tax measures to encourage exploration while amending the law on hydrocarbons. Thus, the government offers newcomers an exemption from corporate tax for a period of ten consecutive years and rates of royalty on oil and gas not exceeding 10 and 5% respectively.

Ecology, carbon Emission and Economy

Sustainable development: Sustainable development takes into account all aspects related to the business (i.e.) raw materials, human and economic system. Sustainable development can produce products and services that meet the desires and human needs while preserving the environment for future generations. We can then say that sustainable development is linked with ethics. The World Commission on Environment and Development United Nations defines sustainable development in 1987 this way: "Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs." The ecological footprint is a tool to evaluate the quantity of energy used for the production of a product or service. Can then be compared with this tool the difference between what natures provides us and what we consume.

It is used to make predictions but also to measure human actions on the environment. It measures not only for human consumption but also of a country, or even the planet nature necessary for the production of an object. E. Williams REES one of the two creators of the term suggests the following definition: "The ecological footprint is the corresponding area of productive land and aquatic ecosystems required to produce the resources consumed and to assimilate the wastes produced by a defined population at a specified material life. ' The carbon balance: The carbon footprint is a tool to quantify the greenhouse gas effect greenhouse (GHG) emissions of a company or an administration. These emissions can be direct or indirect. Carbon footprint to become much more important than the ecological footprint as international governments based GHG limits on companies that are based on the calculation methods.

 The great strength of the carbon footprint that is compatible with the ISO 14064 and 14065 with the theme here is the official definition proposed by ADEME: "A method of accounting for emissions of greenhouse gases from readily available data to arrive at a proper assessment of direct or indirect emissions from your business or territory." These definitions related to the various international meetings and scientific reports have led to the emergence of these themes in world governments. The Kyoto Protocol in 1997 was the first meeting has taken quantified commitments. It aims to reduce emissions of greenhouse gases (GHGs).

Best Advice to Get out of Your Debt

Number of people are facing debt, and for some it can turn into a nightmare. Although the debt can be a positive thing, it can also quickly mutate into vicious circle that will push you to develop a funding plan for all your purchases. So I would like to present my principles to get out of debt. Stop funding your purchases and stop keep accumulating new debt. Someone who is in debt should not continue to invest either in bank accounts at risk or in new or objects. An increase in the debt does not usually get out of your debt (at least not in the context of personal finances). If you have a credit card that allows you to have a negative balance, get rid of it and ask your bank to a card that does not allow negative balances.

Stop your recurring payments:

Your subscriptions for cable, mobile phones (especially phones last generation) and contributions to gym classes or others which weigh a lot in your monthly budget. I suggest you delete any subscription "useless" (type gym, cable or magazine) and try to reduce the burden of subscriptions called "essential" as the phone (internet package or unlimited time options are most can happen) or the Internet.

Build an emergency fund:

Unfortunately, being in debt does not mean you are immune to mishaps. At any time, an unexpected expense can come fill your budget dedicated to paying off your debt (step detailed in the following section) and you jeopardize your opposite banks, insurance companies and other creditors. Note that the process of creating an emergency fund can take several months.

Pay off your debts:

Like the previous, this step may take several months or even years depending on the amount of your debt. You must first establish a monthly repayment to spend. There is no fixed value for that amount and it all depends on the total value of your debt, your income and the time you have to make the repayment. The first step to begin the repayment of your debts begins by taking a second job. Although this option is not valid for everyone, I think especially to parents who keep their children, or some may be working too much to spend time on a second job. The fact is that this solution is very effective to increase substantially the share of your income devoted to paying off your debts. You will then need to establish a method to repay your debts. Some say that we must first repay debts that cost you the most in interest. Others think it is better to start with the smaller debts worth to get rid of them one by one and more quickly. I find this second solution most suitable for each canceled debt cancellation generates interest. So you can add to your monthly value of the interest on the debt previously canceled. Accumulated small amounts added to your monthly payment will allow you to increase significantly. Now you just have to start clearing your debt. The process can be long and difficult, but this task will dramatically change your outlook a financial point of view.

The Financial Rating Agencies

The rating agencies are responsible for assessing the risk of a borrower's credit worthiness, which may be a business, a state or a community at large. In other words, they size up the risk of a borrower not to repay its debt. Only financial criteria are taken into account in the scoring. There are around150 rating agencies are there in worldwide but the most important are a few more particularly Moody's, Standard & Poor's and Fitch. They are in the lime light in the recent years due to the worldwide financial crisis. The scoring system, which is the statistical analysis, is more specific to each rating agency and they differ.

For example let us consider the following two agencies which were mentioned above, their possible scores are the best score to worst:
 
Standard and Poor's: AAA, AA, A, BBB, BB, B, CCC, CC, D


Moody's: Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C

Generally, agencies add to their score the medium term may be positive, neutral or negative. Financial markets are very attentive to the ratings agencies. Thus, the rating given by rating agencies has a direct impact on the borrowing rates. AAA borrower can expect to get loans at very low rates (about 3% for the State), while a borrower rated poorly will have real difficulties in obtaining the same loan for higher rate of interest. These agencies have been criticized, especially about the role they played in the Greek crisis of 2010. The European Commission and European governments feel they have contributed to speculation on the financial markets. Evaluation methods of banks by the rating agencies have recently been questioned by the European Securities and Markets Authority (ESMA) after the rating downgrade of a large number of international banks and the lack of stability of their ratings.

Virtual banks

Virtual banks are increasingly popular among investors. Since they have combined more advantages than the regular banks, people are attracted towards it. Now a day we are hearing more positive news about them. As the name suggests, almost all their entire activities happens online. Having all their activities focused on the web platform their operating cost minimized. No need for branches and no need for high paying multiple advisory. Consequence of all these the money savings are passed on to the customers virtual banks. In banking industry, the bank charges are very high and they are charging for each withdrawal but this kind of charges can be avoided in the online banks.

In virtual banks the administration fees and other regular bank charges are absent. You not only pay less but also the offer higher interest rates for your money deposited with then unlike the other street banks. With online banking, you can access your money at any time, 24h/24 and 7 days / 7. Sites are secure and the customer service is often of good quality. You can also automatically save practicing payroll deductions and pay yourself first. This behavior is preferred to achieve affluence smile icon Virtual banks. Finally, there is no bank fees charged; no minimums and most importantly, no limit transactions.