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But price rises in Russia are eye-watering by comparison – and just one symptom of an economy that is overheating. “Prices are rising because of the war,” Alexandra Prokopenko at the Carnegie Russia Eurasia Center in Berlin told CNN. The military budget will rise by nearly a quarter in 2025, amounting to one-third of all state spending and 6.3 per cent of gross domestic product. Analysts don’t see the Russian economy as tumbling over a precipice but instead as a slowly gathering crisis. Russia has traditionally turned to central Asia for unskilled labor, and Putin recently suggested more foreign workers are needed.
Persons: ” Alexandra Prokopenko, Vladimir Putin, Putin, , Anton Vaganov, ” Prokopenko, Natalia Kolesnikova, Vladislav Inozemtsev, Prokopenko Organizations: CNN, Carnegie Russia Eurasia Center, , Reuters, Russia’s Alfa Bank, Alfa, Monetary Fund, Russia’s State Statistics Service, Getty, Central, United Nations, UK Defense Ministry, Atlantic Council Locations: Russia, Ukraine, Berlin, Saint Petersburg, United States, Asia, Turkey, Russian, India, China, AFP, Moscow, Central Asia, East, South Korea, Dubai
But they are on the same side on fracking — a key energy and environmental issue in the biggest battleground state in the election. Comfortable majorities of Pennsylvania voters support fracking, according to multiple recent polls. Bair said he gets “very frustrated” when he hears the Trump camp “beating this drum” that Harris wants to end fracking. “She’s not going to ban fracking. You’re not going to be able to make good policy decisions about it.”Gray’s message to those who advocate to ban fracking: “Go without gas.
Persons: — John Stewart, Robert Bair, Donald Trump’s, Kamala Harris, Harris, Bair, , Katie Blume, Erik McGregor, , Trump, ” Stewart, Stewart, Biden, Walz, “ She’s, She’s, , Donald Trump, Jeff Swensen, Devon Johnson, Johnson, Frank Gray, Blume, ” Blume, fracking, ” Gray, you’ve, you’re, You’re Organizations: Cameron Energy Co, Conservation Voters, NBC News, Biden, Residents, Trump, Shell Chemicals, Keystone XL, Steamfitters Union Local, fracking Locations: HOWE, Pa, Pennsylvania, U.S, Exton, Monaca, Canada, Nebraska, Pittsburgh, fracking
Oil edges up, but on track for biggest weekly loss in over a month
  + stars: | 2024-10-18 | by ( ) www.cnbc.com   time to read: +2 min
Crude oil futures inched higher on Friday, supported by a surprise drop in U.S. oil inventories and simmering Middle East tensions, but prices were headed for their biggest weekly loss in more than a month on worries of lower demand. Both contracts settled higher on Thursday for the first time in five sessions after data from the Energy Information Administration showed that U.S. crude oil, gasoline and distillate inventories fell last week. "Speculative positioning across the ICE Brent complex strengthened from historically low levels, on heightened geopolitical risk of a potential Israeli strike on Iran's oil infrastructure," Citi analysts said in a note. Citi expects global oil demand to slow to 900,000 bpd in 2025 from 1 million bpd this year on an economic slowdown and as more electric vehicles hit the road. The "potential impact of China's emerging economic stimulus plans on oil demand is uncertain, and more robust support may only result in a limited boost," it added.
Persons: Brent, WTI Organizations: Brent, West Texas, Energy, Administration, of, Petroleum, International Energy Agency, ICE, Citi Locations: San Joaquin Valley, McKittrick , California, OPEC, Israel, Iran
Russia's oil revenue has plummeted as global crude prices fall. Oil sales dropped to $1.44 billion in the week ending September 8, per data cited by Bloomberg. AdvertisementRussia's oil business has taken a hit, with the nation's crude revenue dropping to its lowest levels in seven months, according to Argus Media data cited by Bloomberg. Urals crude, Russia's flagship oil blend, has edged lower to $67.61 a barrel, down around 20% from its peak in the spring of this year. Russia is set to make even steeper oil production cuts later in 2024, as part of OPEC's goal to boost crude prices.
Persons: , Russia's Organizations: Bloomberg, Service, Argus Media, Russia's Energy Ministry Locations: Moscow, Russia, Hungary, Asia
In his three and a half years already in office, Biden has done pretty well on the core metrics of a healthy economy. Biden vs Trump on immigrationBiden and Trump are sharply divided on immigration, as are Americans. Advertisement"Peace looks like making sure Russia never, never, never, never occupies Ukraine," Biden told TIME in a May interview. Biden vs Trump on Israel-GazaBiden has consistently defended Israel since the country invaded Gaza last year following Hamas' October 7 attack. Biden vs Trump on housingWhile in office, Biden has pushed a number of policy changes on housing, including the " Housing Supply Action" plan.
Persons: Joe Biden, Donald Trump, Biden, Trump, he's, He's, Roe, Wade, Vladimir Putin, Read, Gaza Biden, Israel, hasn't Organizations: Service, ABC, Business, Biden, Trump, Dow, Keystone XL, Immigration, Republicans, Union, Department of Housing, Urban Locations: Ukraine, Gaza, Unemployment, Paris, Mexico, Florida, Russia, Israel
Oil slips on dollar's strength from U.S. jobs data
  + stars: | 2024-06-10 | by ( ) www.cnbc.com   time to read: +3 min
Oil wells are seen at an oil facility by the Highway 5 near Bakersfield in California, U.S. on Nov. 27, 2022. Oil prices nudged lower for a second straight session on Monday, weighed down by a firmer dollar as expectations of interest rate cuts were pushed out further following strong U.S. jobs data on Friday. On Friday, data showed the U.S. added more jobs than expected last month, leading investors to trim expectations for rate cuts and causing the dollar to rally. In the U.S., Washington stepped up purchasing of crude oil to replenish the Strategic Petroleum Reserve after prices fell. Last week, U.S. energy firms cut the number of oil and natural gas rigs operating to the lowest since January 2022, energy services firm Baker Hughes said on Friday.
Persons: Emmanuel Macron, Le, Tony Sycamore, Sycamore, Brent, WTI, FGE, Washington, Baker Hughes, Hayan Abdel, Ghani Organizations: Brent, . West Texas, greenback, European Union, IG, U.S . Federal Reserve, Bank of Japan, Organization of, Petroleum, bbl, Strategic Petroleum Reserve, Iraq's Oil Locations: Bakersfield, California, U.S, European, Sydney, OPEC, Kurdistan, Iraq, Turkey
From the protection of lakes and streams to the battle to curb greenhouse gas emissions, many voters in the upcoming US presidential election want to see the federal government play an active role in climate issues. One thing is clear though: the lion's share of voters believe that climate change is real. AdvertisementThe latest quarterly survey from the Yale Program on Climate Change Communication revealed that 72% of Americans believed that climate change was occurring, while only 15% disagreed. Related storiesHere's a look at President Joe Biden and former President Donald Trump's positions on climate — which is poised to be a defining issue for Gen Z and millennial voters this fall. But President Donald Trump withdrew from the plan while in office, blasting it as detrimental to the US economy.
Persons: Joe Biden, Donald Trump's, Gen Z, Biden, Barack Obama, Obama, Donald Trump, Trump Organizations: Service, Business, Yale, GOP, US, Keystone XL, Trump, Alaska National Wildlife, Environmental Protection Agency, Mar, The Washington, of Energy Locations: Paris, Alaska, Michigan
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Sometimes the market just wants to come down even if the bonds are better," Jim Cramer said Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, It's, we're, Abbott, We'll, Cramer, bode, Kinder, homebuilder D.R, Horton, Blackstone, Jim Cramer's, Jim Organizations: CNBC, United Airlines, UnitedHealth, Abbott Labs, Abbott Laboratories, Wall, Nvidia, Arm Holdings, Abercrombie, Fitch, Barclays, Broadcom, HSBC, Biotech, CSX, Alcoa, Alaska Air, Jim Cramer's Charitable Locations: what's
Oil prices up as world's top consumers boost demand
  + stars: | 2024-03-08 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices rose Friday due to increased demand in the U.S. and China, the world's top oil consumers, and a positive signal from the Fed on potential rate cuts. Oil prices rose on Friday, driven by growing demand in the United States and China, the world's biggest oil consumers, and as the U.S. Federal Reserve gave a positive signal on possibility of rate cuts. Both fell more than expected in a sign of a strong demand. Providing additional support to oil prices, Federal Reserve Chair Jerome Powell said on Thursday that the U.S. central bank was "not far" from gaining enough confidence that inflation is falling to begin cutting interest rates. In Canada, TC Energy's Keystone oil pipeline resumed service on Thursday after going offline and temporarily restricting a major conduit of Canadian oil to the United States — one of the factors supporting prices in the previous session.
Persons: Jerome Powell Organizations: U.S . Federal Reserve, Brent, . West Texas, Energy Information Administration, ANZ Research, Capital Economics, TC, Keystone Locations: U.S, China, United States, Canada
BISMARCK, N.D. (AP) — North Dakota is set to take the federal government to trial Thursday for the costs of responding to the Dakota Access Pipeline protests, the culmination of an unusual and drawn-out court fight. The state filed the lawsuit in 2019, seeking $38 million from the federal government for policing the protests. In an interview, North Dakota Attorney General Drew Wrigley said the trial will show examples of numerous requests to the federal government for help and the “complete refusal” to offer resources and financial support in response. North Dakota relied on compacts to bring in law enforcement officers from around the region and the country for help, he said. The document laid out options of denying the easement and removing or abandoning the line's river segment, granting the easement with no changes or with additional safety measures, or rerouting the pipeline north of Bismarck.
Persons: Daniel Traynor, General Drew Wrigley, , ” Wrigley, Kyle Kirchmeier, , Kirchmeier, North Dakota ”, Wrigley, Donald Trump Organizations: N.D, Dakota, Pipeline, U.S, North Dakota, U.S . Justice Department Locations: BISMARCK, North Dakota, Missouri, State, Morton, United States, Bismarck
ACCRA, Ghana - ECOWAS flag with member flags at the second extraordinary summit on the political situation in Burkina Faso, in Accra, Ghana, on February 3, 2022. OUAGADOUGOU, Burkina Faso - Jan. 20, 2023: A banner of Russian President Vladimir Putin is seen during a protest to support the Burkina Faso President Captain Ibrahim Traore and to demand the departure of France's ambassador and military forces. Mali has ruled out leaving WAEMU, while Burkina Faso is considering it. "Mali, Burkina Faso and Niger will likely draw on the extractive sector to improve their weak economies. A recent UN Development Programme report surveyed 5,000 people who had directly experienced a recent coup or unconstitutional change of government, including citizens of Burkina Faso, Chad, Guinea, Mali and Sudan.
Persons: NIPAH DENNIS, Bola Tinubu, Vladimir Putin, Captain Ibrahim Traore, Alex Vines, there'd, Tinubu, Ouattara, , Vines, Mucahid Durmaz, Verisk Maplecroft, Durmaz, Balima Boureima, insurgencies, Wagner, Niger, specter, Mohamed Bazoum, Rey Byhre Organizations: Getty, Economic, West African States, ECOWAS, Nigerian, Africa, Chatham House, CNBC, Algeria —, West, Cote D'Ivoire, Anadolu Agency, Getty Images, Wagner Group, West African Economic, Monetary Union, CFA, National Council for, UN Locations: ACCRA, Ghana, Burkina Faso, Accra, AFP, Mali, Niger, Sahel, Mauritania, OUAGADOUGOU, Chatham, France, Nigeria, Côte d'Ivoire, Algeria, Malian, Russia, Bamako, Mucahid, West Africa, Togo, Benin, Cote, NIAMEY, NIGER, Niamey, West, U.S, Moscow, WAEMU, Seme, Chad, Guinea, Sudan, The Gambia, Tanzania, Kati
Christopher A. Wray, director of the Federal Bureau of Investigation, warned on Wednesday that China was ramping up an extensive hacking operation geared at taking down the United States’ power grid, oil pipelines and water systems in the event of a conflict over Taiwan. Mr. Wray, appearing before a House subcommittee on China, offered an alarming assessment of the Chinese Communist Party’s efforts. Its intent is to sow confusion, sap the United States’ will to fight and hamper the American military from deploying resources if the dispute over Taiwan, a major flashpoint between the two superpowers, escalates into a war, he added. Before his testimony, F.B.I. “China’s hackers are positioning on American infrastructure in preparation to wreak havoc and cause real-world harm to American citizens and communities, if or when China decides the time has come to strike,” said Mr. Wray, who pressed the committee to increase funding for the bureau.
Persons: Christopher A, Wray, Organizations: Federal Bureau of, Communist, Justice, Volt Typhoon Locations: China, United States, Taiwan, States, Beijing
BERLIN (AP) — A group of climate activists who infuriated many in Germany by gluing themselves to streets to block traffic said Monday that it will abandon the tactic and move on to holding what it calls “disobedient assemblies.”The Last Generation group frequently blocked roads in Berlin and other cities over the past two years, its best-known but far from its only tactic in a campaign of protests that also included spraying the capital's Brandenburg Gate with orange paint, among other things. And where we cannot be ignored,” the group said in a statement. Political Cartoons View All 253 ImagesAs well as that, the group said it will increasingly “directly confront” those it considers responsible for climate destruction, for instance by confronting politicians and other decision-makers in public and on camera. It will also “increasingly visit places of fossil destruction for our protest,” it added, pointing to past protests at airports, oil pipelines and an energy company. Last Generation's actions have been overshadowed recently by protests against Germany's far right and other demonstrations, including by farmers against cuts to their diesel subsidies.
Persons: , Olaf Scholz, Germany's Organizations: BERLIN Locations: Germany, Berlin
Howard Weaver, a self-described “poor kid from a shabby neighborhood,” was 24 years old and terrified when he was assigned by the floundering Anchorage Daily News to expose a rapacious chapter of the Teamsters union that was corruptly profiting from Alaska’s oil pipeline boom. “Any way you sliced it,” he recalled, “the odds were against us, a mismatch of Goliathian proportions.”But Mr. Weaver was hungry. Hungry enough that after months of investigative reporting, he and his colleagues exposed “a complex maze of political, economic and social power,” which, they wrote, “challenges at times both mighty industry and state government itself.”Three weeks before The Daily News declared that it was on the brink of bankruptcy, the scrappy newspaper with a circulation of about 13,000 was awarded the Pulitzer Prize for public service in 1976 for its reporting on Teamsters Local 959. It was the smallest paper and the first in Alaska to win the coveted medal.
Persons: Howard Weaver, , Weaver Organizations: Anchorage Daily, Teamsters, Daily News Locations: Anchorage, Alaska
Now the company plans to go big on the business of investing in airports, bridges, oil pipelines and more. Alongside announcing its quarterly earnings, the firm said on Friday that it would acquire Global Infrastructure Partners for about $12.5 billion in cash and stock. The deal is BlackRock’s biggest takeover since 2009, when it bought Barclays Global Investors for $13.5 billion and became the world’s biggest provider of index funds. It’s a major bet by BlackRock on infrastructure, in which financial firms invest in, or take over and run, assets like tunnels, highways, and oil and gas networks. “Policymakers are only just beginning to implement once-in-a-generation financial incentives for new infrastructure technologies and projects,” Larry Fink, BlackRock’s chairman and C.E.O., said in a statement.
Persons: ” Larry Fink Organizations: Global Infrastructure Partners, Barclays Global Investors, BlackRock Locations: BlackRock, It’s
While over the years the pipeline's start date has been moved further back, supply has kept coming. Light synthetic crude from the oil sands, another key Canadian grade, is trading close to its deepest discount since 2020. With Canada exporting around 3.8 million bpd via pipelines, each additional dollar the discount widens amounts to millions in lost revenues for oil companies, analysts say. Conventional oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines including Trans Mountain. Rail exports hit 145,000 bpd in September, nearly doubling from May, according to latest data from the Canada Energy Regulator.
Persons: TMX, linefill, WCS, Martin King, It's, Heather Exner, Kevin Birn, Enbridge, James Davis ,, Jesse Jones, Jones, We're, John Zahary, Kent MacDougall, Nia Williams, Stephanie Kelly, Marguerita Choy, Denny Thomas, Simon Webb Organizations: Producers, Canadian, Canada, RBN Energy, Business Council of Canada, U.S ., P, ., Inc, Rail, Canada Energy Regulator, TMX, Altex Energy, Thomson Locations: Asia, British Columbia, Alberta, Canada, U.S . Canada
Below is a fact check of 102 of Trump’s false claims from the 12 speeches. But contrary to Trump’s claim, it’s not true that people had been attempting for decades to create such an initiative. Trump’s aid to farmersIn speech after speech, Trump claimed that he had given US farmers $28 billion from China. Even if the poll result is off, it’s clear that Trump’s claim that “nobody wants them” is not true. He said he was an airline pilot.”Facts First: Trump made a false claim while mocking Biden for making false claims.
Persons: Donald Trump, , Trump, Joe Biden, Biden, Ron DeSantis, Nikki Haley, , , Mexico’s, ‘ Trump, Defense Department –, ” Theresa Cardinal Brown, CNN’s Priscilla Alvarez, ” Trump, I’ve, Todd Harrison, Harrison, It’s, Trump’s, ” Ben Cahill, Nobody, Jimmy Carter’s, Barack Obama, isn’t, El Salvador –, Obama, we’d, Obama’s, Webster, Covid, Wuhan ”, They’d, they’d, you’d, Scott Gottlieb, ” Gottlieb, Trump Trump, it’s, Abraham, Aaron David Miller, Miller, Dana El Kurd, Qasem Soleimani, they’ve, we’re, We’re, , Iran haven’t, ” Matt Smith, Biden’s, Smith, Ali Vaez, Kpler, Biden Trump, Iran “, Democrats ”, that’s, Jimmy Carter, Carter “, Carter, , Hillary Clinton, Kari Lake, Bill Gates, Gates, ” Chris Wallace, Chris Wallace, Hunter Biden, “ Chris Wallace, ‘ He’s, ‘ ” Trump, Wallace, “ you’re, “ Biden, ‘ You’re, Wallace interjected, Rather, you’ve, ’ ” Pavel Molchanov, Raymond James &, ” Molchanov, Tim Woody, Woody, autoworkers, CNN’s Ella Nilsen, Joe Biden’s, Erin Mellon, Gavin Newsom, Mellon, ” Vonette Fontaine, Biden “, CNN’s Matt Egan, Egan, ” Biden, Europe Trump, United Kingdom “, Brent, Pavel Molchanov, Raymond James, Patrick De Haan, GasBuddy, De Haan, Matt Smith, Matt Egan, Afghanistan Trump, we’ve, Krista Wiegand, Wiegand, ” Netanyahu, Benjamin Netanyahu, Israel, Qasem, Bibi, Netanyahu, Soleimani, Asad, Mark Milley, Hezbollah Trump, Steven Cheung, John Kirby, Cheung, Kirby, Iran’s, ” Ali Vaez, Joseph Amon, Washington –, Faiq Zidan, Zidan’s, Zidan, Abu Mahdi al, China Trump, Ukraine Trump, Letitia James, James, Attorney Alvin Bragg, Matthew Colangelo, You’re, Bragg, Colangelo, Tanya Chutkan, I’m, Jack Smith, Bill Clinton, That’s, everybody’s, Letitia James –, Al Capone’s, Al Capone, Capone, Brad Schwartz, CNN couldn’t, Schwartz, Eliot Ness, MAGA, “ MAGA, , White, CNN’s Fareed Zakaria, Inflation Trump, Bacon, Joe, PolitiFact, Trump . Howard Gleckman Organizations: Washington CNN —, CNN, Republican, Trump Trump, Republican Jewish Coalition, Department, ISIS, Trump’s, Democratic, Congress, Defense Department, former Defense Department, Center, US Customs, Trump, American Enterprise Institute, Air Force, Army, Navy, Marine Corps, Strategic Petroleum Reserve, Energy Security, Center for Strategic, International Studies, US, IHS, Islamic, The State Department, Customs Enforcement, Policy Institute, ICE, El Salvador, , Merriam, The New York Times, Food and Drug Administration, FDA, Abraham Accords, United Arab Emirates, West Bank, Hezbollah, State Department, Carnegie Endowment, International, Arab Center Washington DC, Islamic Revolutionary Guards Corps Quds Force, Obama, US International Trade Commission, Washington Post, U.S . International Trade Commission, New England lobstermen, England lobstermen, Americas, Crisis, government’s Energy, Administration, Washington Free Beacon, Energy Information Administration, Democrats, Biden, Electoral, Georgia, Michigan, Carter, Democrats can’t, Republicans, Alabama, Arizona, Fox News, ” Energy, Oceanic, Atmospheric Administration, NOAA, Wildlife, Alaska Industrial Development, Export Authority, Raymond James & Associates, Wilderness Society, Cox Automotive, Pew Research Center, New York Times, National Oceanic, California Gov, California, American Petroleum Institute, Union, West, Energy, American Automobile Association, AAA, GasBuddy, New Hampshire, Houston, Keystone XL, Obama administration’s State Department, , Foreign, Military, DoD, Afghan, Defense, Policy, Taiwan News, , University of Tennessee’s Center for National Security, Foreign Affairs, Israeli, NBC, Jerusalem Post, Yahoo, Pentagon, ” CNN, Joint Chiefs, Staff, Post, National Security, Group, US government’s Defense Intelligence Agency, Narcotics Bureau, Global Health, Drexel University Dornsife School of Public Health, Justice Department, Washington, Judicial, Popular Mobilization Forces, Customs and, Middle East, Customs, Protection, CBP, Border Protection, Kiel Institute, European Union, New York, New, ExxonMobil, Trump University, Trump Foundation, Manhattan, Attorney, federal Justice Department, Department of Justice, Washington DC, Presidential Records, Presidential, Mar, Biden White, MAGA Republicans, Inflation, Heritage Foundation, Trump ., Brookings Tax, Urban Institute Locations: New Hampshire, New York City, Saudi, Florida, al Qaeda, New York, Texas, Iowa, Mexico, , U.S, Houston, Iraq, Israel, Tel Aviv, Jerusalem, Nord, Germany, Russian, Trump’s, Russia, Ukraine, Europe, Guatemala, Honduras, El Salvador, El, Washington, , ” In Texas, Covid, China, Wuhan, Italy, France, Abraham, Bahrain, Morocco, Sudan, Gaza, Lebanon, Syria, Iran, Yemen, Libya, Palestine, Afghanistan, Somalia, Pakistan, New England, England, Kpler, Malaysia, Oregon, Alabama, Maricopa County, Arizona, Arizona’s, Moscow, Alaska, East, South Carolina, California, “ California, West Virginia, Virginia, United Kingdom, West Texas, “ U.S, Los Angeles, Venezuela, Mississippi , Louisiana, Canada, United States, Paris, Taiwan, “ China, Iranian, that’s, , Singapore, Iraqi, San Diego, Kiel, York, Manhattan, York’s, Chicago, Philadelphia, Georgia, Qaeda
REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsDec 1 (Reuters) - Oil prices extended losses on Friday, and looked set for a sixth straight week of declines, as voluntary oil output cuts agreed by OPEC+ producers fell short of market expectations. Saudi Arabia, Russia and other members of OPEC+ agreed to voluntary output reduction of 900,000 bpd in addition to extending 1.3 million bpd in production cuts already in place. Delegates had earlier discussed as much as 2 million bpd in new output curbs. Goldman Sachs said its December forecast for Brent was "moderately tilted" to the downside of its previously estimated range, calling the oil producers' move a "temporary response," and "difficult to implement." Separately, Brazil said on Thursday it would join the OPEC+ next year, though such a move wouldn't bind the south America's largest country to production cuts.
Persons: Tatiana Meel, Brent, Goldman Sachs, Goldman, Laura Sanicola, Stephen Coates, Kim Coghill Organizations: REUTERS, OPEC, Brent, . West Texas, Thomson Locations: Nakhodka, Russia, Saudi Arabia, UAE, Iraq, Kuwait, Kazakhstan, Algeria, Brazil, OPEC
FILE PHOTO: The Nairobi skyline is seen in the background as zebras walk through the Nairobi National Park, near Nairobi, Kenya, December 3, 2018. REUTERS/Amir Cohen/File Photo Acquire Licensing RightsNAIROBI, Nov 27 (Reuters) - Kenya will start its privatisation drive by offering stakes in 11 companies including the state oil pipeline, the finance ministry said on Monday. The 11 firms are among more than 35 companies that are slated for sale to partially help the government raise revenue in the face of growing debt repayments. "Privatisation and restructuring is geared towards the government's efforts for fiscal consolidation and spurring economic development," the ministry added. The government revised the law governing the sale of state companies last month to the eliminate bureaucracy that had made the process grind to a halt, the president said last week.
Persons: Amir Cohen, Duncan Miriri, Miral Organizations: REUTERS, Rights, Kenya Pipeline Company, Thomson Locations: Nairobi, Kenya, Rights NAIROBI
Three dead as storm hits Crimea and Russia's Black Sea coast
  + stars: | 2023-11-27 | by ( ) www.reuters.com   time to read: +1 min
MOSCOW, Nov 27 (Reuters) - Fierce storms killed three people on the Russian and Crimean Black Sea coast on Monday, with hundreds evacuated. Storms have been raging in the Black Sea since Friday. Video published online showed large waves sweeping over the seafront in Sochi, and carrying away cars. The Russian-installed governors of Crimea and Sevastopol, both of which Moscow seized and unilaterally annexed from Ukraine in 2014, declared states of emergency. In the Russian port of Novorossiysk, the Caspian Pipeline Consortium and Russia's Transneft state oil pipeline company announced a halt to loadings due to weather conditions.
Persons: Felix Light, Kevin Liffey Organizations: TASS, Energy Ministry, Caspian Pipeline Consortium, Thomson Locations: MOSCOW, Crimean, State, Sochi, Kerch, Crimea, Russian, Yevpatoriya, Sevastopol, Ukraine, Dagestan, Krasnodar, Rostov, Russia, Novorossiysk
The expansion of the Canadian government-owned Trans Mountain oil pipeline advanced to a new construction stage, in Acheson, Alberta, Canada December 3, 2019. REUTERS/Candace Elliott/File Photo Acquire Licensing RightsNov 24 (Reuters) - The Canada Energy Regulator (CER) has ordered the company building the Trans Mountain oil pipeline expansion (TMX) to appear at an oral hearing on Monday, as the regulator weighs whether to approve a variance request from the project. Trans Mountain had asked the regulator to make a decision on the variance request by Nov. 30 to "advance the timely completion" of the expansion project. In September, the CER approved a route deviation request from TMX for a section of pipeline near Kamloops, despite opposition from local Indigenous groups. The CER said no other parties had expressed concern about TMX's latest variance request.
Persons: Candace Elliott, TMX, Nia Williams, Mark Porter, Leslie Adler Organizations: Canadian, REUTERS, Canada Energy Regulator, Trans Mountain Corp, Thomson Locations: Acheson , Alberta, Canada, Hope, Chilliwack, British Columbia, Calgary, Alberta, Coast, Abbotsford, TMX, Kamloops
It also slightly raised its 2023 forecast for growth in global oil demand and stuck to its relatively high 2024 prediction. Last week, oil prices slid to their lowest level since July, hurt by concerns that demand could wane in in top oil consumers U.S. and China. A U.S. crackdown on Russian oil exports could potentially disrupt supply, supporting prices further. Iraq's oil minister expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region's oilfields and resume northern oil exports through the Iraq-Turkey pipeline. Focal points for the market include the International Energy Agency's latest monthly oil market report later in the day.
Persons: Dun Jiao, Tatiana Meel, Leon Li, Emily Chow, Edwina Gibbs, Stephen Coates Organizations: REUTERS, Rights, Brent, ING, Organization of, Petroleum, Strategic Petroleum Reserve, U.S . Treasury Department, Kurdistan Regional Government, of Commerce, International Energy, APEC, Markets, Thomson Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, China, Washington, Moscow, Iraq, Kurdish, Turkey, Shanghai
REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsSINGAPORE, Nov 14 (Reuters) - Oil prices inched up on Tuesday after an OPEC report said market fundamentals remained strong and due to concerns supplies might be disrupted as the U.S. cracks down on Russian oil exports. Last week, oil prices slid to their lowest level since July, hurt by concerns that demand could wane in in top oil consumers U.S. and China. Iraq's oil minister expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region's oilfields and resume northern oil exports through the Iraq-Turkey pipeline. Oil prices were also supported by a U.S. crackdown on Russian oil exports, potentially disrupting supply. Focal points for the market include the International Energy Agency's latest monthly oil market report later in the day.
Persons: Dun Jiao, Tatiana Meel, Emily Chow, Edwina Gibbs Organizations: REUTERS, Rights, Brent, Organization of, Petroleum, ANZ Research, Kurdistan Regional Government, of Commerce, U.S . Treasury Department, Strategic Petroleum Reserve, International Energy, Energy, Thomson Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, China, Iraq, Kurdish, Turkey, Washington, Moscow
Experts say Trudeau's carbon pricing scheme, known as the carbon tax, works well and cannot be easily replaced. Even the left-leaning New Democrats, who support Trudeau's government in parliament and have previously defended the carbon tax, are calling for the exemption. Analysts said the carbon tax carve-out is another example of inconsistent policy. CARBON TAX REBATEThe carbon tax is intended to discourage use of fossil fuels and accelerate a switch to clean energy, but the recent carve-out underlines how fragile climate policy is in the face of pressing political calculations. In September, Bank of Canada governor Tiff Macklem said the carbon tax contributes about 0.15 percentage points to the inflation rate, which was 3.8% that month.
Persons: Justin Trudeau, Jessica Lee, Richard Brooks, Brooke, Brooks, Chris Severson, Baker, Pierre Poilievre, clobber Trudeau, Shachi Kurl, Angus Reid, Kurl, Jonathan Wilkinson, Wilkinson, Macklem, Trudeau, Robert Asselin, Asselin, Nia Williams, Steve Scherer, Josie Kao Organizations: Canada's, Ontario Chamber, Economic Summit, REUTERS, Rights Ottawa, Canadian, Provincial, New Democrats, Pembina Institute, Liberal, Conservative, Angus Reid Institute, Atlantic, Natural Resources, Reuters, Bank of Canada, Business Council of Canada, The Business Council, Thomson Locations: Toronto , Ontario, Canada, Ottawa
Former President Trump is working to ramp up his support among energy executives, WaPo reported. Support from oil and gas executives would be crucial to his 2024 reelection campaign. Harold Hamm, the billionaire founder and chairman of Continental Resources, for instance, told Trump during a phone conversation earlier this year that he should end his presidential bid, per The Financial Times. "Trump was good on energy, and I think energy policy under Trump would be fine," Eberhart, the DeSantis supporter, told The Post. AdvertisementAdvertisementThe extent of Trump's pitches to energy executives is not a shock to environmental groups, as they battled with the administration over regulations throughout his entire time in the White House.
Persons: Trump, WaPo, , Donald Trump, Joe Biden, Harold Hamm, Hamm, Ron DeSantis, Nikki Haley, Dan Eberhart, DeSantis, Kenny Troutt, Rick Bowmer, Barack Obama, Biden, bonafides, Tiernan Sittenfeld, Steven Cheung Organizations: Service, The Washington Post, Trump, Continental Resources, Gov, Post, White, Canary LLC, AP, Keystone XL, Wildlife, Green New, League of Conservation Voters, Big Locations: Trump, Florida, South Carolina, Trump's, Lago, Texas, Helper , Utah, Paris, Alaska, United States, ANWR
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