Under the memorandum, Iraq is allowed legally to sell oil in exchange for food.
He's giving Cuba a deal on oil in exchange for Cuban doctors to work in new clinics for the poor in Venezuela.
Investors who played oil via exchange-traded funds, profited or lost accordingly.
The UN has around 150 international observers in Iraq, who travel across the country visiting food warehouses and other installations to check on the implementation of the UN's humanitarian programme, under which Iraq is allowed to sell oil in exchange for food, medicine and other vital supplies.
Investor cans bypass both company risk and commodities futures trading costs by purchasing U.S. Oil, an exchange-traded fund that tracks the price of oil futures.
This takes place under a humanitarian programme which allows the country to exchange oil revenues for food, medicine and other civilian goods.
It sells some and swaps the rest (mostly sour and heavy grades) with oil companies in exchange for better stuff shipped in from overseas.
Lately, though, several oil-related exchange-traded trusts have been formed.
Two others have exposure to oil futures: iPath Goldman Sachs (nyse: GS - news - people ) Crude Oil Total Return Index Exchange Traded Note and PowerShares Deutsche Bank (nyse: DB - news - people ) Oil Fund.
Purchasing power in the international market, whether it is for flour or oil, occurs through market exchange rates.
Possibly a larger pool of inspectors or better terms for the oil-for-food exchange.
Under Barrio Adentro, tens of thousands of Cuban doctors are brought to work in Venezuela in exchange for Venezuelan oil to Cuba under preferential terms.
The contrast is even more telling as foreign-exchange inflows from oil exports, privatisations and new debt issues were 70% greater than during Mr Luschini's time.
Since the federal government technically owns the reserves, the plan calls for the government to transfer 5 billion barrels of pre-salt oil reserves to Petrobras in exchange for shares in the company, thus allowing Petrobras to sell more shares to help finance its work.
Companies were offered "buybacks" instead, under which they drilled for oil, built pipelines and handed over the assets to the government in exchange for a fixed return, paid in oil.
Cushing is the price settlement point for West Texas Intermediate Sweet Crude Oil on the New York Mercantile Exchange (NYMEX).
In exchange, the Chinese oil firm signed a letter of intent with BP Amoco calling for the establishment of a gas-marketing joint venture in eastern China.
The move caught many traders by surprise, and led to a frenzy on the New York Mercantile Exchange that sent crude oil futures up by some 5% on the day of the meeting.
Despite these actions, the Seychelles economy struggled to maintain its gains and in 2008 suffered from food and oil price shocks, a foreign exchange shortage, high inflation, large financing gaps, and the global recession.
This ETF looks at the changes in the average of the prices of 12 futures contracts on crude oil traded on the New York Mercantile Exchange.
Some of Russia's biggest firms, such as gas monopoly Gazprom, and oil firm Lukoil, are listed on the exchange.
So oil traders twitch every time the two sides exchange barbs.
Oil producer Burren Energy (on the London Stock Exchange) has been operating in Turkmenistan since 1995.
Nigeria's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive oil sector, which provides 95% of foreign exchange earnings and about 80% of budgetary revenues.
Likewise, debased dollars wobble the scale at the point of exchange and push commodities up a la an oil shock.
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And it can create conversations between wildly different groups of people: Witness this exchange between Canadian rapper Drake and the billionaire oil tycoon T.
Like its rivals, it made no commitment to ideology or policies on important issues such as devolving power, changing the distribution of oil revenues, ending the much-criticised dual-exchange rate or speedier privatisation.
At the same time, East European governments might approach Arab energy suppliers with the suggestion that, in exchange for receiving below-market prices on oil (and perhaps gas) deliveries for a period of time, the producer-countries can gain important new energy markets.
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Frank's legislation would require mandatory reporting by companies registered with the Securities and Exchange Commission, and the U.S. oil industry thinks this goes too far.
Energy contracts of CME Group primarily consist of crude oil, natural gas, power and other energy-related exchange-traded contracts and over-the-counter contracts cleared through CME Group ClearPort.
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