Venezuela receives two bids for Carabobo oil-Chavez

Venezuela received two bids in the Carabobo auction of three projects in its vast Orinoco heavy crude belt, President Hugo Chavez said on Friday. “Yesterday in fact, two offers were received, two were received for three projects,” Chavez said during a speech to students. “A group of companies from different parts of the world, from India to China, Europe etc.” The Carabobo auction presents global oil giants with a major opportunity to gain access to what the U.S. Geological Survey recently called one of the world’s largest reserves of crude oil. Official results of the auction will be presented on Feb 10. Sources say Venezuela received bids for all three projects from companies including majors Chevron (CVX.N) and Repsol (REP.MC) along with national oil companies such as India’s ONGC (ONGC.BO) and Malaysia’s Petronas (PETR.KL). [Read the full article]

The Bank for International Settlements declined to comment on Friday on traders saying they were buying the euro on behalf of the Swiss National Bank to weaken the Swiss franc. In the past, the BIS has acted on behalf of the Swiss National Bank to weaken the franc. The Swiss National Bank was not immediately available to comment on the currency move. The euro rose to session highs at 1.4764 francs EURCHF=, according to Reuters data. It last traded 0.1 percent higher at 1.4707 francs, rebounding from a session low of 1.4637, the lowest level since March. The U.S. dollar last traded at 1.0599 francs CHF=, up 0.7 percent, after hitting a session peak of 1.0641. [Read the full article]

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Overseas shares traded in the United States fell for a fourth consecutive session on Friday, weighed down by major Japanese automakers on escalating recall problems and a strong yen. The Bank of New York Mellon index of leading American Depositary Receipts (ADRs) .BKADR was down 0.6 percent, with New York-traded shares of Asian companies falling 0.8 percent. Bellwether Toyota Motor Corp (7203.T) (TM.N) skidded further on Friday, after the world’s top automaker said it would extend a recall of millions of vehicles. The stock was down 0.5 percent at $77.30. Its rival Honda Motor Co (7267.T) (HMC.N) also fell 1 percent to $34.13 after the automaker recalled its vehicles globally over a faulty window switch. For details, see [ID:nLDE60S0MD] U.S. traded shares of Canon Inc (CAJ.N), the world’s largest camera maker, dipped 2.5 percent to $39.29. [Read the full article]

Currency speculators went long against the U.S. dollar in the latest week, according to Commodity Futures Trading Commission data released on Friday. The value of the dollar’s net long position was $3.11 billion in the week ending Jan. 26, reversing a net short position of $3.12 billion the previous week, according to Reuters calculations. The last time speculators were long on the dollar was the week ending January 5. The Reuters calculation for the aggregate U.S. dollar position is derived from the net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, Canadian and Australian dollars. [Read the full article]

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