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☆ Most Chinese shoppers are very cautious about going out, survey finds
▼ + stars: | 2022-12-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Most Chinese people still don't want to leave their apartments, despite a relaxation in Covid-related restrictions, an Oliver Wyman survey found. More than 90% of consumers surveyed over the weekend said they are avoiding going out, the consulting firm said. Nearly 60% of respondents said they wouldn't be comfortable going out in public for at least the next few months. "We observed that many high streets and shopping malls were deserted in December," Kenneth Chow, principal, Oliver Wyman, said in an email this week. Anecdotally, while many more people went out to malls and attractions in Beijing over the weekend, not all stores had reopened yet.

☆ Lawyers exit Hong Kong as they face campaign of intimidation
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +18 min

The event that precipitated his hasty departure, Vidler said, was the appearance of articles in the state-backed media in Hong Kong about him. “This was in my view state-sponsored intimidation and harassment,” said Vidler, whose wife and children later left Hong Kong. One Hong Kong solicitor who has relocated to England told Reuters that she knew of at least 80 Hong Kong lawyers who had moved to Britain since the security law was imposed in June 2020. Another lawyer, now living in Australia, estimated that several dozen Hong Kong lawyers had moved there. Mainland officials have long sought influence over these two influential bodies, according to senior Hong Kong lawyers.

☆ NextDecade increases LNG supply volume in deal with China's ENN
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Dec 28 (Reuters) - U.S. liquefied natural gas (LNG) developer NextDecade Corp (NEXT.O) announced it will increase the volume of LNG supplies in a sales and purchase agreement signed with China's ENN Natural Gas Co. Ltd. (600803.SS). Under the agreement, ENN via a wholly-owned subsidiary ENN LNG (Singapore) Pte Ltd, will now purchase 2 million tonnes per annum (mtpa) of LNG, up 0.5 mtpa from the original agreement, according to a statement by NextDecade dated Tuesday. Earlier in April, NextDecade announced it would supply 1.5 mtpa of LNG to a unit of China's ENN for a 20-year term. China was the world's top importer of LNG in 2021, shipping in 78.8 million tonnes of the chilled fuel that year. Of its total imports, nearly 9 million tonnes or 11% were from the United States, according to China's customs data.

☆ Japan's Inpex signs 20-year LNG deal with Venture Global
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Dec 27 (Reuters) - Inpex Corp (1605.T), Japan's biggest oil and gas explorer, said on Tuesday that it has signed a long-term liquefied natural gas (LNG) sales and purchase agreement with U.S.-based Venture Global LNG. Under the agreement, Inpex will buy one million tonnes per annum (mtpa) of LNG for 20 years on a free-on-board basis, Inpex said in a statement. The agreement was signed between the subsidiaries of the two companies, INPEX Energy Trading Singapore Pte Ltd (IETS) and Venture Global CP2 LNG LLC. IETS will buy the LNG from Venture Global LNG's CP2 LNG project in Louisiana, which is expected to begin construction in 2023, according to Inpex's statement. The LNG will be delivered to INPEX's Naoetsu LNG terminal and other terminals in Japan.

☆ Japanese firms sign multi-year agreements to buy LNG from Oman, U.S.
▼ + stars: | 2022-12-27 | by ( Yuka Obayashi | ) www.reuters.com time to read: +3 min

Global LNG supply has been tight since Russia invaded Ukraine and cut gas supply flows to Europe, leading European nations to import record amounts of LNG cargoes, straining global supplies and elevating prices. Mitsui and Itochu confirmed signing basic agreements with Oman LNG, but declined to give details. Other Japanese companies were also in talks with Oman LNG about term contracts, a government official told Reuters without naming the firms. If successful, they could take Japan's LNG imports from Oman above 3 million tonnes a year, he added. The agreements with Oman LNG were signed during a visit to Oman by Japanese industry minister Yasutoshi Nishimura.

☆ Trump blasts Mitch McConnell over passage of government funding bill, claiming 'Democrats must have something really big' on him
▼ + stars: | 2022-12-26 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +4 min

Trump blasted McConnell over Congress' recent passage of a government funding bill. The House and Senate last week approved the nearly $1.7 trillion bill to avert a government shutdown before the holiday recess. "If Senate Republicans controlled this chamber, we would have handled the appropriations process differently from top to bottom," McConnell said last week. Only nine House Republicans voted for it. "Just another win for the Democrats, Mitch, that wouldn't have happened if 'Trump' were President!"

☆ Japan's Mitsui OSK, Kansai Electric sign MoU on carbon capture and storage
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: 1 min

SINGAPORE, Dec 23 (Reuters) - Japanese shipping company Mitsui O.S.K Lines (MOL) (9104.T) and Kansai Electric Power Co (KEPCO) (9503.T) have signed a memorandum of understanding (MoU) to study the development of a carbon capture and storage (CCS) value chain. The value chain includes the separation, capture, transportation, injection and storage of carbon dioxide emitted from KEPCO's thermal power plants, said MOL in a statement on Wednesday. Both MOL and KEPCO will also look at developing marine transportation of liquefied carbon dioxide to potential storage sites, the statement added. Industries worldwide are exploring carbon capture and storage solutions to try to reduce emissions and meet environmental targets. Reporting by Emily Chow; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Oil rises $3/bbl after Russia signals output cut due to price cap
▼ + stars: | 2022-12-23 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Brent crude settled at $83.92, up by $2.94 or 3.6%, while U.S. West Texas Intermediate (WTI) crude settled at $79.56 a barrel, up $2.07, or 2.7%. Russia may cut oil output by 5% to 7% in early 2023 as it responds to price caps, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday. "The potential cut from Russia could be giving the bulls more fuel," said Eli Tesfaye, senior market strategist at RJO Futures. Both crude oil demand and output could slump over the next few days due to shut-ins from a massive winter storm that cascaded across a broad swath of the United States. Several of the largest U.S. refineries shut down due to the extreme cold while output shut in Texas and North Dakota.

☆ Mitch McConnell says the 'entire nation knows' who is responsible for the Capitol riot after the January 6 panel asked the DOJ to prosecute Donald Trump
▼ + stars: | 2022-12-20 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

Mitch McConnell hit out at Donald Trump after the latter was referred to the DOJ for prosecution. In a statement, McConnell said that "entire nation knows who is responsible" for the Capitol riot, without directly naming Trump. The January 6 panel on Monday asked the DOJ to prosecute Trump on four charges linked to the riot. McConnell's statement came after the House panel investigating the Capitol riot on Monday asked the Justice Department to prosecute Trump on four charges. "There is no question — none — that President Trump is practically and morally responsible for provoking the events of the day," McConnell said of Trump at the time.

A large dent has also come from industrial sectors forced to curb output as high gas prices make production uneconomic with some firms shifting production to regions with cheaper energy. FIGHT FOR SUPPLIESThe obvious way to boost supplies is through liquefied natural gas (LNG). That may not happen next year, meaning Europe would face fierce competition for LNG that would drive up the cost. Record high prices in Europe, however painful, helped the region to secure record volumes of LNG imports this year. Benchmark European gas prices hit a peak in August of more than 300 euros/MWh.

A NASA spacecraft is set to swing past one of Jupiter’s moons on Thursday, giving astronomers a close-up view of one of the most volcanic spots in the solar system. The Juno probe, which has been orbiting Jupiter since July 2016, is set to conduct a flyby of Io, one of the 80 known moons in Jupiter’s system. Over the course of the next year and a half, the Juno spacecraft will carry out a total of nine flybys of Io. NASA / JPL-CaltechEarlier this year, Juno captured a dramatic view of Io from a distance of around 50,000 miles. Last year, NASA extended the Juno mission through September 2025.

☆ 14 Best Gifts for Dog Lovers
▼ + stars: | 2022-12-15 | by ( ) www.wsj.com time to read: +10 min

Browse the ideas below, and take a look at our roundups of expert-approved products to keep your pet calm and the best gifts for cat lovers too. For the bakerThe Dash Dog Treat Maker—a small waffle iron with bone-shaped plates—lets your pal whip up homemade dog treats. Dockx eased her golden retriever’s separation anxiety while she was at work with a Snuggle Puppy, a plush toy with a battery-powered heartbeat. To brush up on dog speak, DeWillems recommends “Doggie Language: A Dog Lover’s Guide to Understanding Your Best Friend,” which decodes canine body language through illustrations that highlight subtle nuances in their mannerisms. For the devoted dog dadDog Dad Hats Custom Dog Dad Hats $69 at Dog Dad HatsAny proud parent will dig a Dog Dad Hat, with a custom embroidered illustration of their pet’s portrait.

☆ Hong Kong court rules police ban on Tiananmen vigil unlawful, overturning conviction of prominent activist
▼ + stars: | 2022-12-14 | by ( Wayne Chang | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Hong Kong’s High Court ruled on Wednesday that a decision by police to ban a Tiananmen square vigil last year was “unlawful,” thereby overturning an earlier conviction against jailed pro-democracy activist Chow Hang-tung, who helped organize the event. Chow is the former chairwoman of the now-disbanded Hong Kong Alliance, which since 1990 has organized the city’s annual candlelight vigil commemorating Tiananmen’s victims. Lights illuminate the closed-off football pitches at Victoria Park, after police closed the venue on June 4, 2021 in Hong Kong. Anthony Kwan/Getty ImagesPeople hold candles as they walk near the Victoria Park on June 4, 2021 in Hong Kong. At the time, she was already serving a 12-month sentence for participating in the 2020 Tiananmen vigil.

Brent crude futures settled up $2.02, or 2.4%, to $82.70 per barrel, while U.S. West Texas Intermediate (WTI) crude futures settled up $1.94 to $77.28. Both contracts rose on a surge in diesel futures ahead of cold weather expected towards the end of the year. Sending bearish signals, U.S. crude oil stockpiles rose by more than 10 million barrels last week, the most since March 2021, buoyed by releases from the Strategic Petroleum Reserve and as refiners reduced activity. Looking into 2023, OPEC said it expects oil demand to grow by 2.25 million barrels per day (bpd) over next year to 101.8 million bpd, with potential upside from China, the world's top importer. The IEA, seeing Chinese oil demand recovering next year after a 400,000-bpd contraction in 2022, raised its 2023 oil demand growth estimate to 1.7 million bpd for a total of 101.6 million bpd.

☆ Hong Kong democracy activist wins appeal on Tiananmen vigil assembly
▼ + stars: | 2022-12-14 | by ( Jessie Pang | ) www.reuters.com time to read: +2 min

HONG KONG, Dec 14 (Reuters) - Democracy activist and barrister Chow Hang-tung won an appeal on Wednesday against her conviction and sentence over a "banned" candlelight vigil in Hong Kong last year to commemorate victims of China's 1989 crackdown on pro-democracy protesters. Police banned the annual Tiananmen vigils last year, citing coronavirus restrictions. Chow was the former vice-chairperson of the now disbanded Hong Kong Alliance in Support of Patriotic Democratic Movements in China. The national security law, punishing subversion, collusion with foreign forces and terrorism with up to life in prison, was imposed by Beijing in 2020. Hong Kong and Chinese governments said the law is necessary to restore stability to Hong Kong after anti-government protests in 2019.

☆ Oil steadies after falls as weak economy offsets supply risks
▼ + stars: | 2022-12-12 | by ( Dmitry Zhdannikov | ) www.reuters.com time to read: +2 min

China, the world's biggest crude oil importer, continued to loosen its strict zero-COVID policy, though streets in the capital Beijing remained quiet and many businesses stayed shut over the weekend. UBS said it believed Brent should recover to above $100 per barrel in the coming months amid supply constraints and rising demand while OPEC+ would keep supply tight. On Sunday, Canada's TC Energy (TRP.TO) said it had not yet determined the cause of the Keystone oil pipeline leak last week in the United States. "The emergent EU embargo on Russian crude... may add moderate upside energy price risks in the next few months. But supply uncertainty should ease by spring 2023, after the embargo on oil products (on Feb.5) plays out," Deutsche Bank said in a note.

Brent crude futures were down 38 cents, or 0.4%, at $75.72 a barrel by 0900 GMT. China, the world's biggest crude oil importer, continued to loosen its strict zero-COVID policy, though streets in the capital Beijing remained quiet and many businesses stayed shut over the weekend. UBS said it believed Brent should recover to above $100 per barrel in the coming months amid supply constraints and rising demand while OPEC+ would keep supply tight. On Sunday, Canada's TC Energy (TRP.TO) said it had not yet determined the cause of the Keystone oil pipeline leak last week in the United States. "The emergent EU embargo on Russian crude... may add moderate upside energy price risks in the next few months.

☆ Oil edges up on U.S. pipeline restart uncertainty, Russian supplies
▼ + stars: | 2022-12-12 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

"Oil prices are higher as the Keystone pipeline remains shut, China's COVID controls ease and on concerns that Russia could reduce output," said Edward Moya, a senior market analyst for OANDA. On Sunday, Canada's TC Energy (TRP.TO) said it had not yet determined the cause of the Keystone oil pipeline leak last week in the United States. Putin said on Friday that Russia, the world's biggest exporter of energy, could cut production and would refuse to sell oil to any country that imposes a "stupid" price cap on Russian exports agreed by G7 nations. While the uncertainty surrounding European Union sanctions on Russian oil and the related price cap kept volatility high on prices, the sanctions have had a limited impact on global markets so far, ANZ analysts said in a note. Saudi Arabia's energy minister also said on Sunday that the impact of the European sanctions and price cap measures had had no clear results yet, and that its implementation was still unclear.

"Oil prices are higher as the Keystone pipeline remains shut, China's COVID controls ease and on concerns that Russia could reduce output," said Edward Moya, a senior market analyst for OANDA. On Sunday, Canada's TC Energy (TRP.TO) said it has not yet determined the cause of the Keystone oil pipeline leak last week in the United States, while also not giving a timeline as to when the pipeline will resume operations. While the uncertainty surrounding European Union sanctions on Russian oil and the related price cap kept volatility high on prices, the sanctions have had a limited impact on global markets so far, ANZ analysts said in a note. In the U.S., Treasury Secretary Janet Yellen forecast a substantial reduction in U.S. inflation in 2023, barring an unexpected shock. Reporting by Florence Tan and Emily Chow; Editing by Kenneth Maxwell and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

After a 26-day mission that took it on a historic journey around the moon, NASA’s next-generation Orion capsule has returned to Earth. NASA has touted the Artemis I test flight as laying the foundation for returning U.S. astronauts to the moon. Artemis I was designed to test the Orion capsule and the huge Space Launch System rocket that carries it into orbit. NASA plans two more Artemis test flights before it launches regular missions to the moon to establish a lunar base camp. Artemis II will launch four astronauts in the Orion spacecraft on an expedition around the moon.

A roughly 76 million-year-old Tyrannosaurus rex skull is set to be auctioned off Friday in New York City. The fossil could fetch up to $20 million, according to Sotheby’s, the auction house handling the sale. Sotheby’s said the T. rex skull is one of the most complete ever discovered. A separate T. rex fossil known as Stan, which was sold in 2020 for a record $31.8 million, was also excavated from the Hell Creek Formation. The bones are thought to have been from an adult T. rex, auction house officials said.

Work is finally underway on the world’s largest radio astronomy observatory. Known as the Square Kilometre Array, the mega telescope consists of huge clusters of dishes and antennas spread across remote parts of South Africa and Western Australia. The Square Kilometre Array has been called one of the biggest scientific projects of the 21st century. A journey to deliver the world’s largest scientific instrument,” she said in a statement. The South African component will consist of nearly 200 dishes, expanded from the 64-dish MeerKAT telescope that already exists on the site.

Brent crude futures were down $2.18, or 2.6%, at $83.39 a barrel by 1:23 p.m. EST (1823 GMT). read moreThe news caused oil and stock markets to pare gains. The data challenges hopes that the Fed might slow the pace and intensity of its rate hikes amid recent signs of ebbing inflation. The Group of Seven (G7) countries and Australia last week agreed on a $60 a barrel price cap on seaborne Russian oil. At the same time, in a positive sign for fuel demand in the world's top oil importer, more Chinese cities eased COVID curbs over the weekend.

☆ China's Shenzhen Energy signs long-term LNG contract with BP
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Nov 26 (Reuters) - China's Shenzhen Energy Group (000027.SZ) has signed a long-term agreement with oil major BP (BP.L) to buy liquefied natural gas (LNG), aiming to lock in supplies with gas-fired power generation poised to surge in the world's second-largest economy. The agreement is Shenzhen Energy's first long-term international LNG contract and its first long-term contract with BP Singapore, the Chinese company said in a statement on Friday. "To meet the demand of Guangdong province and Shenzhen city for energy security and stability, Shenzhen Energy Group is making efforts to promote the construction of gas power plants," it said. "It is estimated that around 2024, as the gas power plants go into operation, the group's total demand for natural gas will significantly rise." QatarEnergy has signed a 27-year deal to supply LNG to China's Sinopec in the longest such agreement to date, as volatility drives buyers to seek long-term supplies.

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