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July 1, 2022

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Column: Global business cycle starts to turn down: Kemp

Reuters
An aerial view shows containers and cargo vessels at the Qingdao port in Shandong province, China May 9, 2022. China Daily via REUTERS Register now for FREE unlimited access to Reuters.com Register LONDON, June 30 (Reuters) – Global manufacturing activity and freight movements have begun to decelerate as the major......

Indian shares suffer worst quarter since pandemic-hit start of 2020

Reuters
A general view of the Bombay Stock Exchange (BSE) in Mumbai, India, January 21, 2021. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register BENGALURU, June 30 (Reuters) – Indian shares on Thursday ended lower and clocked their worst quarter since the early days of the pandemic, beset......

Sri Lanka stops fuel supply to non-essential services as crisis worsens

Reuters
Fuel stocks set to run out in days without curbs Supplies only to essentials from Tuesday untl July 10 Regulator hopes to keep power cuts at 3-4 hrs/daily for 2 months COLOMBO, June 27 (Reuters) – Sri Lanka will shut schools and only allow fuel supplies to services deemed essential......

Hungary’s MOL cuts refuelling limit for passenger cars

Reuters
BUDAPEST, June 24 (Reuters) – Hungarian energy group MOL (MOLB.BU) said it was limiting passenger car drivers to buying 50 litres of fuel a day at its service stations from Friday, halving the previous limit, in a move to avert disruptions caused by a government price cap. MOL, which owns......

Biden administration leans on Tesla for guidance in renewable fuel policy reform

Reuters
June 23 (Reuters) – U.S. President Joe Biden rarely mentions electric car maker Tesla Inc (TSLA.O) in public. But privately his administration has leaned on the company to help craft a new policy to allow electric vehicles (EVs) to benefit from the nation’s lucrative renewable fuel subsidies, according to emails......

Biden asks Congress to pause gas tax amid record pump prices

Reuters
June 22 (Reuters) – U.S. President Joe Biden on Wednesday called on Congress to pass a three-month suspension of the federal gasoline tax to help combat record pump prices and provide temporary relief for American families this summer. The president also urged states to temporarily suspend state fuel taxes, which......

Europe may shift back to coal as Russia turns down gas flows

Reuters
Pipes at the landfall facilities of the ‘Nord Stream 1’ gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal Hanschke/File Photo Register now for FREE unlimited access to Reuters.com Register Germany may take ‘painful’ move to fire up coal power Italy, Austria also looking at burning more coal......

China’s May oil imports from Russia soar 55% to a record, surpass Saudi supply

Reuters
Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register Russia overtakes Saudi as top supplier after 19-month gap Russian imports nearly 2 mln bpd in May Imports from Malaysia......

China’s May gasoline exports plunge, LNG imports slide

Reuters
Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. REUTERS/Aly Song/File Photo Register now for FREE unlimited access to Reuters.com Register June 18 (Reuters) – China’s May gasoline exports fell 45.5% from a year earlier and diesel exports plunged 92.7%......

Fire at Sinopec Shanghai Petchem plant kills one

Reuters
June 17 (Reuters) – A fire broke out at a Sinopec Shanghai Petrochemical Co Ltd (600688.SS) plant in Shanghai early on Saturday, killing one person, the company said. Roaring fire was seen engulfing part of a sprawling factory, emitting columns of thick black smoke, in a video posted on Twitter......

Venezuelan oil exports to Europe set to resume after two years

Reuters
The logo of Italian energy company Eni is seen at a gas station in Rome, Italy September 30, 2018. REUTERS/Alessandro Bianchi Register now for FREE unlimited access to Reuters.com Register June 17 (Reuters) – A 650,000-barrel-cargo of Venezuela’s oil chartered by Italy’s Eni (ENI.MI) is about to set sail carrying......

U.S. energy chief to discuss record pump prices with refiners next week

Reuters
WASHINGTON, June 16 (Reuters) – U.S. Energy Secretary Jennifer Granholm called an emergency meeting with refining executives for next week, a department spokesperson said on Thursday, as tensions between the Biden administration and Big Oil mount over soaring gasoline prices. The planned talks come as President Joe Biden, under pressure......

Russian gas flows to Europe fall, hindering bid to refill stores

Reuters
A train moves past oil tanks of the NNK-Primornefteproduct petroleum depot in the far eastern port of Vladivostok, Russia June 11, 2022. REUTERS/Tatiana Meel Register now for FREE unlimited access to Reuters.com Register Nord Stream 1 pipeline capacity down to 40% Europe’s gas price jumps up to 30% after disruption......

Biden blasts oil refiners for record high gasoline prices, profits

Reuters
Gas prices over the $6.00 mark are advertised at a 76 Station in Santa Monica, California, U.S., May 26, 2022. REUTERS/Lucy Nicholson Register now for FREE unlimited access to Reuters.com Register WASHINGTON, June 15 (Reuters) – U.S. President Joe Biden on Wednesday demanded oil refining companies explain why they are......

Column: Surging oil prices show business cycle slowdown is inevitable: Kemp

Reuters
The Imperial Strathcona Refinery which produces petrochemicals is seen near Edmonton, Alberta, Canada, October 7, 2021. REUTERS/Todd Korol Register now for FREE unlimited access to Reuters.com Register LONDON, June 14 (Reuters) – Policymakers, economists and journalists often talk about the business cycle using the good-and-evil language of a fairy tale.......

Energy executives at transition conference still lean on fossil fuels

Reuters
NEW YORK, June 14 (Reuters) – Energy company executives at a conference on the global transition insisted on Tuesday that fossil fuels, especially natural gas, are still needed at a time when global markets grapple with tight energy supplies and skyrocketing prices. Oil and gas supplies have becomeconstricted in many......

India tribunal rejects Amazon appeal against suspension of deal with Future

Reuters
MUMBAI, June 13 (Reuters) – An Indian appeals tribunal on Monday rejected Amazon.com Inc’s (AMZN.O) appeal against an antitrust suspension of its $200 million investment deal with Future Group, saying the U.S. company concealed information when it sought approval in 2019. India’s antitrust agency issued the suspension in December, stating......

Norway oil firms, workers agree wage deal in principle, avert strike for now

Reuters
The West Hercules drilling rig leaves Skipavika, Norway April 1, 2018. REUTERS/Gwladys Fouche/File Photo Register now for FREE unlimited access to Reuters.com Register OSLO, June 12 (Reuters) – Norwegian oil firms and employees have agreed in principle a new wage deal, avoiding for now a strike at nine fields that......

Norway negotiators work overtime to avert oil strike

Reuters
A general view of Equinor’s Johan Sverdrup oilfield platforms in the North Sea, Norway, December 3, 2019. REUTERS/Ints Kalnins/File Photo Register now for FREE unlimited access to Reuters.com Register OSLO, June 12 (Reuters) – Norwegian oil workers and their employers have extended wage negotiations past a midnight deadline in a......

U.S. gasoline average price tops $5 per gallon in historic first

Reuters
June 11 (Reuters) – The price of U.S. gasoline averaged more than $5 a gallon for the first time on Saturday, data from the AAA showed, extending a surge in fuel costs that is driving rising inflation. The national average price for regular unleaded gas rose to $5.004 a gallon......

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