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☆ Russia and Saudi Arabia’s Oil Partnership Shows Strain
▼ + stars: | 2023-06-07 | by ( Clifford Krauss | Anatoly Kurmanaev | ) www.nytimes.com time to read: +1 min

For most of the last six years, the leaders of Russia and Saudi Arabia worked with each other to control the global oil market during times of war, pandemic and dizzying price gyrations. At last weekend’s meeting of OPEC Plus, the oil cartel that the two countries lead, Saudi Arabia and Russia quietly parted ways. Just two months earlier, Russia and Saudi Arabia, which together sell more than 20 percent of the oil used by the world, had agreed to cut production. But while Saudi Arabia followed through and sold less oil to other countries, Russia does not appear to have done so. Russia recently stopped disclosing information on its oil industry, but analysts estimate that Moscow has increased exports, undercutting that earlier deal.

Persons: Biden, Antony J, Blinken’s Organizations: OPEC Locations: Russia, Saudi Arabia, Moscow

☆ A Scientist’s Sexuality Shouldn’t Matter
▼ + stars: | 2023-05-30 | by ( Lawrence Krauss | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/a-scientists-sexuality-doesnt-matter-nsf-dei-agenda-census-gender-awards-3e1e7ac2

☆ Gasoline Prices, a Source of Pain Last Year, Have Come Way Down
▼ + stars: | 2023-05-26 | by ( Clifford Krauss | ) www.nytimes.com time to read: +1 min

Oil traders had expected Russian exports to fall because of the sanctions imposed on the country by the United States and its allies in response to the invasion. The war is still grinding on, but Russia has found a way to keep selling its oil, though at heavily discounted prices, primarily to China and India. It also helped that the United States and other industrialized countries released oil from their strategic reserves when prices were surging. In the United States, use of motor fuels has not changed much from last year and has yet to recover to prepandemic levels. Gasoline demand climbed over the last month, and AAA predicts a 7 percent increase in holiday weekend travel from last year.

☆ Climate Change Brings Warmer, Wetter Weather to Trinidad
▼ + stars: | 2023-05-15 | by ( Clifford Krauss | ) www.nytimes.com time to read: +1 min

Imtiaz Khan remembers the rains of his childhood as being light and providing welcome relief from the summer heat. A heavy shower, he said, would arrive only about once a month during the rainy season. Now 48, and president of the Carli Bay Fishing Association, Mr. Khan said the rains were something to dread. The heavy downpours carry sediment into the bay, turning the sea cloudy and brown. “The fish go where there is more food and where they can reproduce,” Mr. Khan said.

☆ Why Some Countries Find It Hard to Move Away From Fossil Fuels
▼ + stars: | 2023-05-15 | by ( Clifford Krauss | ) www.nytimes.com time to read: +1 min

It is one of the largest producers of fossil fuels in the Western Hemisphere, and more than a century of drilling has left its mark. The major highways on the main island are clogged by traffic and lined with industrial warehouses. If Trinidad seems to be zigging and zagging on climate change policy, it is hardly the only one. Saudi Arabia, the United Arab Emirates and the United States are also building large solar farms while exploring for new oil gushers. Industrialized countries are still producers and users of fossil fuels and have failed to put up the $100 billion a year they had pledged to a green fund for poor nations starting in 2020.

☆ Rheinmetall and Ukraine's Ukroboronprom form JV to build, repair tanks
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +1 min

May 13 (Reuters) - Rheinmetall (RHMG.DE) has founded a joint venture with Ukrainian state-owned conglomerate Ukroboronprom to build and repair tanks in Ukraine, the company said on Saturday. Closing of the agreement to set up the joint venture is scheduled for late June with operations to begin from mid-July. The German company expects to sign contracts for two more joint ventures in the coming days for ammunition and air defence, according to Handelsblatt. Rheinmetall has ridden a rise in defence spending since Russia's invasion of Ukraine last year, with Germany also supplying aid and weapons to Kyiv. Rheinmetall makes ammunition and other military equipment as well as jointly producing the Leopard tanks that Germany is sending to Ukraine with Krauss-Maffei Wegmann.

☆ German makers of Leopard 2 tank settle legal dispute
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

DUESSELDORF, May 2 (Reuters) - German arms makers Rheinmetall (RHMG.DE) and Krauss-Maffei Wegmann have settled a legal dispute over the intellectual property rights to the Leopard 2, one of the world's most advanced battle tanks, a court said on Tuesday. A boom in defence orders due to the war in Ukraine, and in particular demand for Leopard tanks from Kyiv to help in the fight against Russian forces, has boosted both companies. Duesseldorf-based Rheinmetall makes the cannon of the Leopard 2 and Munich-based KMW makes its chassis. Rheinmetall said both parties had sought to settle the dispute as quickly as possible with the aim of returning to day-to-day business. Earlier this year, Germany bowed to pressure from allies and agreed to send Leopard tanks to Ukraine.

☆ Exxon and Chevron Report More Modest Profits as Oil and Gas Prices Ease
▼ + stars: | 2023-04-28 | by ( Clifford Krauss | ) www.nytimes.com time to read: +1 min

“We’re delivering strong financial results and increasing cash returned to our shareholders,” said Mike Wirth, Chevron’s chief executive. But despite higher prices for crude and fuels through much of last year, the two companies have been cautious about investing more to raise production. Exxon, Chevron and other oil companies emerged from 2022 with record profits, after Russia’s invasion of Ukraine last February pushed crude and natural gas prices higher. In recent days, the price of oil has dropped below $80 a barrel, after a jump to over $120 last June. Actual cuts have amounted to about half that much, a reduction of less than 1 percent of the global supplies.

Bowing to pressure from allies, Germany's government this year agreed to send Leopard tanks to Ukraine, one of the big ticket items sought by Kyiv as it gears up to mount a counteroffensive against Russian forces. Duesseldorf-based Rheinmetall makes the cannon of the Leopard 2 while the Munich-based KMW makes its chassis. A district court in Munich in a statement on Tuesday said KMW was seeking legal protection to prevent Rheinmetall from making statements it saw as "untrue, misleading factual assertions that violate its rights". Higher defence spending pushed Rheinmetall to record earnings last year and saw the company enter Germany's DAX blue-chip index. ($1 = 0.9106 euros)Writing by Matthias Williams Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

☆ Rheinmetall and KMW to upgrade Puma armoured vehicles for German army
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - Rheinmetall (RHMG.DE) and Krauss-Maffei Wegmann (KMW) have received an order from the German army to upgrade 143 Puma infantry fighting vehicles, the companies said on WednesdayThe order for their joint venture PSM is valued at around 770 million euros ($843.92 million), they said in a joint statement. According to the companies, they will retrofit the armoured vehicles with key capabilities for firepower and command and control by 2029. The contract, which was signed in 2021, included two options for modernising the vehicles, both of which Berlin has decided to execute now. In late 2022, the German government said it would not purchase any more Pumas until they had proven themselves reliable, after several were put out of service during a military drill. ($1 = 0.9124 euros)Reporting by Andrey Sychev, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ A 1960s-era cannon is 'kicking ass' against Russia's drones, but the country that makes ammo for it won't send more to Ukraine
▼ + stars: | 2023-04-19 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +10 min

But Switzerland, where Gepard ammo is made, is not allowing more of that ammo to be sent to Ukraine. The Gepard SPAAGA German Gepard anti-aircraft tank during an exercise near Munster in June 2007. German defense company Krauss-Maffei Wegmann built 570 Gepards between 1963 and 1980 — 420 for the German Bundeswehr, 95 for the Dutch army, and 55 for the Belgian army. Kay Nietfeld/picture alliance via Getty ImagesAfter being criticized for its reluctance to send heavy weaponry to Ukraine, the German government promised some 50 Gepards to Ukraine in April 2022. In February, German Defense Minister Boris Pistorius announced that German firm Rheinmetall would restart ammo production for the Gepard.

☆ Rheinmetall wins subcontractor role on Norway's Leopard tank order
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - Rheinmetall has been hired as a subcontractor in the Norwegian armed forces' order for 54 Leopard 2 battle tanks from Krauss-Maffei Wegman (KMW), the German manufacturer said on Friday. Rheinmetall said the contract was worth 129 million euros ($142.74 million) and could increase by 44 million euros if Norway executes an option to buy an additional 18 tanks. A key subcontractor to KMW, Rheinmetall will supply components such as main armaments, fire control technology and parts of the sensor suite over a period of around four years, it said in a statement. Norway had originally planned to acquire 72 tanks, but in recent months focused on a scaled-down purchase after its chief of defence recommended spending more on helicopters, drones and long-range artillery. ($1 = 0.9038 euros)Reporting by Andrey Sychev, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

☆ Rheinmetall in talks on building tank factory in Ukraine - report
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, March 4 (Reuters) - German defence contractor Rheinmetall (RHMG.DE) is in negotiations about building a tank factory in Ukraine, the newspaper Rheinische Post reported on Saturday, citing an interview with CEO Armin Papperger. Rheinmetall makes ammunition, other military equipment and also the Leopard tanks that Germany decided to send to Ukraine, which the company produces jointly with Krauss-Maffei Wegmann. "A Rheinmetall plant can be set up in the Ukraine for around 200 million euros ($212.64 million), which can produce up to 400 Panthers a year," Papperger was quoted as saying. He said Ukraine needed 600 to 800 tanks and the construction of new tanks must start quickly to achieve that number, he said. Its shares hit a record high in January after Germany's decision to send the heavy Leopard tanks to Ukraine.

☆ Germany to place order for backfilling howitzers months earlier than planned
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Feb 26 (Reuters) - German Defence Minister Boris Pistorius said on Sunday he expected the contracts for the backfilling of howitzers that Berlin rushed to Ukraine last year to be signed by the end of March, months earlier than originally planned. "If everything works out, the contracts for the new howitzers will be signed by the end of the coming month," he told German public broadcaster ARD. Pistorius, who took office in January, did not specify the number of weapons to be reordered, but the German military last year handed over 14 self-propelled howitzers produced by Krauss-Maffei Wegmann to Kyiv. Pistorius' predecessor had planned to present the order for new howitzers to parliament for approval in mid-2023, according to a defence source. Reporting by Sabine Siebold; Editing by Tom SimsOur Standards: The Thomson Reuters Trust Principles.

☆ Leopard tanks like a Mercedes, says Ukrainian soldier training in Germany
▼ + stars: | 2023-02-20 | by ( Sabine Siebold | ) www.reuters.com time to read: +3 min

MUNSTER, Germany, Feb 20 (Reuters) - A Ukrainian soldier compared Germany's Leopard 2 tanks to a Mercedes as he underwent training with them ahead of their arrival on the battlefield, saying he hoped they would bring a breakthrough in the war. He is among dozens of Ukrainian troops Germany is training on Leopard 2 simulators and then the tanks themselves at its largest military training ground, in Munster, before sending them to Ukraine. In all, Germany is training several hundred troops on various aspects of warcraft as part of a European effort to instruct some 15,000 Ukrainian soldiers. German Defence Minister Boris Pistorius said he was impressed by the Ukrainian troops. They know that they will be back at the frontline in five weeks' time," said a German lieutenant-colonel who is responsible for the Leopard training and only gave his name as Peter.

☆ Norway to order 54 new army tanks from Germany
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +1 min

OSLO, Feb 3 (Reuters) - Norway will order 54 new German-made Leopard 2 tanks for its army from the Krauss-Maffei Wegmann Group, and will get an option to buy a further 18 tanks at a later time, the government said on Friday. "We ensure that we have the same tanks as our Nordic neighbours and many key NATO allies," Prime Minister Jonas Gahr Stoere told a news conference. The Nordic NATO member, which shares a 196 km (122 miles)Arctic border with Russia, had planned to choose either German-made Leopard 2 A7 tanks or the rival Korean-produced K2 Black Panther, made by Hyundai Rotem (064350.KS). Norway had originally planned to acquire 72 tanks, but in recent months discussed a scaled-down purchase after the country's chief of defence recommended spending more funds on helicopters, drones and long-range artillery. Reporting by Terje Solsvik, editing by Gwladys Fouche and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Oil Giants, After Surge in Profits, Are Wary About Spending
▼ + stars: | 2023-02-01 | by ( Clifford Krauss | ) www.nytimes.com time to read: +2 min

While critics often accuse the oil industry of profiteering when prices are high, executives say their companies are prone to cycles. The variables that will determine oil companies’ profitability this year are largely out of their control — in both supply and demand. The International Energy Agency has projected that oil demand this year will grow modestly, by nearly two million barrels a day, reaching 101.7 million barrels a day. The ability of oil companies to provide fuel at reasonable prices could be stretched, especially since they have been cautious about increasing production. And with lockdowns lifted in China, its economy should grow faster, and demand for oil and gas should increase, if the country can overcome a new virus surge.

☆ Germany's Leopard tank move puts spotlight on its maker: Rheinmetall
▼ + stars: | 2023-01-25 | by ( Christoph Steitz | ) www.reuters.com time to read: +4 min

A day later, Germany's long-awaited decision to send heavy Leopard tanks to Ukraine, which Rheinmetall produces jointly with peer Krauss-Maffei Wegmann, pushed shares in the nearly 134-year old firm to a record high. You can see that right now in Ukraine," Papperger, a trained engineer who joined Rheinmetall in 1990, said. The group has said it can deliver a total of 139 Leopard tanks - 51 of the model 2 and 88 of the older model 1 - to Ukraine. Rheinmetall has said that 29 of the Leopard 2A4 tanks could already be delivered by April or May. Analysts at Stifel Equity Research estimate Leopard deliveries could bring in between 300 million euros and 350 million euros of sales for Rheinmetall this year and next.

☆ Explainer: Why has Ukraine sought Leopard 2 battle tanks?
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +4 min

Kyiv has been pushing for the Leopard 2 tank in particular because it has several advantages over the alternatives, such as Britain's Challenger 2 and the U.S. M1 Abrams tanks. With some 20 nations operating the Leopard 2, several nations could each chip in a small portion of their tanks to support Ukraine. Germany has about 350 Leopard 2 tanks today, compared to some 4,000 battle main tanks at the height of the Cold War, according to German military expert Carl Schulze. At the same time, it is all but impossible to buy a large amount of Leopard 2 tanks quickly. However, unlike the Leopard 2, it is not widely used, which limits how many can be made available for Ukraine.

☆ Tank maker Rheinmetall raises sales view as Ukraine war boosts demand
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +3 min

Shares in Rheinmetall, which together with Krauss-Maffei Wegmann makes the Leopard tanks Germany is under pressure from Kyiv and some allies to send to Ukraine, have risen 170% in the past year. For 2022 the company expects sales of 6.5 billion euros. A company spokesperson told media group RND that it could deliver 139 Leopard tanks to Ukraine if needed. It could also supply 88 older Leopard 1 tanks, the spokesperson said, without giving a timeframe for potential delivery. It said positives, including mid-term defence spending, had been priced into the stock.

☆ Here's the big deal with the German-made Leopard tanks and why Ukraine desperately wants them
▼ + stars: | 2023-01-20 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

One tank Kyiv really wants is the German-made Leopard, but it hasn't been able to get them. These formidable main battle tanks would provide a massive firepower boost on the battlefield. Ukraine is getting many of the items on its wish list, but it hasn't been able to get its hands on the German-made Leopard tanks it wants. The country's president previously said he wanted to send the tanks to Ukraine as part of an "international coalition." Fast, mobile, and well-armedThe Leopard 2 is Germany's main battle tank developed by defense firm Krauss-Maffei Wegmann.

☆ Explainer: West mulls sending German Leopard 2 tanks to Ukraine
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +5 min

BERLIN APPROVALThe re-export of Leopards requires German government approval, so other countries with such tanks could not send them to Ukraine without it. WHY HAS THE WEST NOT SENT BATTLE TANKS TO KYIV SO FAR? The Leopard 2 is one of the most widely used Western tanks. Germany has about 350 Leopard 2 tanks today, compared to some 4,000 battle main tanks at the height of the Cold War, German military expert Carl Schulze says. WHAT OTHER WESTERN BATTLE TANKS ARE THERE?

☆ Germany pauses purchases of Puma tanks after operational problems
▼ + stars: | 2022-12-19 | by ( Rachel More | ) www.reuters.com time to read: +2 min

Shares in Rheinmetall (RHMG.DE), which manufactures the tanks together with Krauss-Maffei Wegmann (KMW), were down 7% after the minister's announcement. A statement from the German defence ministry said the goal was to make the Puma tanks operational as soon as possible. Meanwhile, the German Bundeswehr military would use Marder tanks, the predecessor model to the Puma, from Jan. 1, in what a ministry spokesperson called a "fall-back solution". Neither Rheinmetall nor KMW would comment on the issues with the Puma model. The Spiegel magazine reported over the weekend that 18 Puma tanks intended for NATO's very high readiness joint task force next year were not operational after problems arose during a firing exercise.

☆ Germany to send seven additional Gepard tanks to Ukraine
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Dec 2 (Reuters) - Germany is preparing to deliver seven Gepard tanks to Ukraine, adding to the 30 air-defence tanks that are already being used to fight against the Russian army, according to a German government website. According to Spiegel magazine, which first reported the number of additional tanks, the seven Gepards, which were initially destined for the scrap pile, should arrive in Ukraine in Spring 2023 and are currently being repaired by Munich-based arms manufacturer Krauss-Maffei Wegmann (KMW). The German government also aims to send more ammunition for the Gepards along with the additional tanks, Spiegel reported. Supply of ammunition for the Gepard has proven problematic as Switzerland, which has stocks of ammunition, refuses to supply it, citing its neutral status. Writing by Miranda Murray, editing by Rachel More and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Ukraine is getting more THeMIS robots, ground vehicles that Russian troops have been offered $16,000 to capture
▼ + stars: | 2022-11-29 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

Ukraine will receive 14 more THeMIS unmanned ground vehicles, manufacturer Milrem Robotics said Tuesday. A Russian think tank previously offered a bounty for the capture of one of these vehicles. "Automating these tasks with unmanned vehicles alleviates that danger and allows more soldiers to stay in a safe area or be tasked for more important activities." Evacuation robot (unmanned ground vehicle) THeMIS seen on a dusty road during the field tests in Kyiv, Ukraine. At the time, a spokesperson for Milrem Robotics told Insider: "We take the bounty as a compliment."

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