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  • Venezuela's President Announces 'Petro' Token Pre-Sale

    Nicolas Maduro, the president of Venezuela, has said the pre-sale of the country’s proposed cryptocurrency – the “petro” – will launch next month. Signing the petro white paper on Tuesday, Maduro stated that the initial sale of the token will commence on Feb. 20th. This apprently has been revised from an initial draft proposal that the petro was supposed to be pre-mined before launch. The country’s opposition-run congress soon after declared that petro is “illegal” and that it would be effectively borrowing against the country’s oil reserves. Senators Marco Rubio and Robert Menendez denounced Venezuela’s planned cryptocurrency in an open letter to U.S. Treasury Secretary Steven Mnuchin.

    | XBT.MONEY | 9 min read

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    Federal Open Market Committee reaffirms its "Statement on Longer-Run Goals and Monetary Policy Strategy"

    The Federal Open Market Committee, at its annual organizational meeting this week, unanimously reaffirmed its "Statement of Longer-Run Goals and Monetary Policy Strategy" with an updated reference to the median of participants' estimates of the longer-run normal rate of unemployment in the most recent Summary of Economic Projections (December 2017). The Committee first adopted the statement at its January 2012 meeting and has reaffirmed it, with appropriate revisions, at its annual organizational meetings each January. Statement on Longer-Run Goals and Monetary Policy Strategy (PDF)Amended January 30, 2018Previous version:Statement on Longer-Run Goals and Monetary Policy Strategy (PDF)Amended January 31, 2017For media inquiries, call 202-452-2955.

    Federal Reserve Board of Governors - Pre | 3 min read
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    German Regulator Allowed to Build Nord Stream 2 Bearing Environment in Mind

    BERLIN (Sputnik) - The Stralsund Mining Authority issued permission for the construction of the Nord Stream 2 gas pipeline in Germany's territorial waters taking into account all potential environmental impact of the construction, the Energy Ministry of the German northeastern Mecklenburg-Western Pomerania state said Wednesday. "The Mining Authority acted in line with legal norms and paid special attention to ensure that all environmental impact would be compensated for," the ministry said in a statement. Nord Stream 2 is a joint venture of Russia’s Gazprom with France's Engie, Austria’s OMV AG, UK-Dutch Royal Dutch Shell, and Germany's Uniper and Wintershall. It aims to deliver 55 billion cubic meters of Russian natural gas a year to the European Union across the Baltic Sea to Germany. The pipeline project has been welcomed by some countries in Europe and opposed by others, including Poland, fearing that it might increase their dependence on deliveries of Russian gas.

    Sputnik International | 7 min read
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    MGX Minerals Receives Approval to Conduct 3D Seismic Survey at Utah Petrolithium Project, Blueberry Unit, Paradox Basin

    The Survey will outline subsurface geological formations and structures favorable for accumulations of oil and gas as well as lithium brine bearing formations. The Paradox Basin has been noted by the USGS as having one of the largest undeveloped oil and gas fields in the United States (“Assessment of Oil and Gas Resources in the Paradox Basin Province…”; USGS; 2011; Click Here). Blueberry UnitMGX is currently earning a 75% working interest in the Project, with the remaining interest primarily controlled by a private Utah corporation. 51-101 - Standards of Disclosure for Oil and Gas Activities (“NI 51-101”), with an effective date of June 30, 2017. Forward-Looking StatementsThis press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws.

    Markets Businessinsider | Finanzen.Net Gmbh | 20 min read