Category Archives: Business

Is OPEC about to break-up?

OPEC is an organisation made up of 12 oil-producing countries which operates as a cartel to try to control oil prices. It was formed in 1960 by Iran, Iraq, Kuwait, Venezuela and Saudi Arabia, with most of the rest of … Continue reading

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Spain’s euro bailout

Spain is to receive a 100 billion euro bailout to save its failed banks. Not only that but it will get a better deal than Ireland got when it was bailed out. Should the Irish government have negotiated a clause … Continue reading

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The winner’s curse

Iraq has been auctioning off rights to some of its oil and gas blocks in the last couple of days. Often these big auctions lead to a situation called ‘the winner’s curse’. The winner’s curse is when the winner of … Continue reading

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