Proclaiming that “continuing to operate in Russia is not tenable,” the CEO of one of the major partners...
Proclaiming that “continuing to operate in Russia is not tenable,” the CEO of one of the major partners in the Nord Stream 2 natural gas pipeline project said Jan. 17 that the oil and gas independent will exit Russia entirely.
Wintershall will take a one-time 5.3 billion euro non-cash loss as a result of its departure. This involves the company’s Russian joint ventures and impairments from Nord Stream AG and the WIGA Group midstream business.
“Russia’s war of aggression in Ukraine is incompatible with our values and has destroyed cooperation between Russia and Europe,” Wintershall Dea CEO Mario Mehren said announcing the decision.
Scottsdale’s Super Bowl crackdown. The popular Phoenix suburb is fighting back against rentals on Airbnb and Vrbo as it prepares to host the big game. Locals say its 5,000 short-term rentals have had a detrimental effect on neighborhoods. Read more.
How a Chinese mole in the FBI was finally unearthed. Over the past decade, more than a dozen Chinese agents recruited by the CIA have been killed or imprisoned. Now it seems an FBI counterintelligence agent was largely responsible, per a new book. Get the full story.
Benchmark U.S. crude oil for February delivery rose 32 cents to $80.18 a barrel Tuesday. Brent crude for March delivery rose $1.46 to $85.92 a barrel.
Wholesale gasoline for February delivery rose 2 cents to $2.55 a gallon. February heating oil fell 1 cent $3.25 a gallon. February natural gas rose 17 cents to $3.59 per 1,000 cubic feet.
Dow falls almost 400 points Tuesday, post biggest daily drop in 3 weeks
The Dow and S&P 500 closed lower on Tuesday to kick off a...
The Dow and S&P 500 closed lower on Tuesday to kick off a holiday-shortened week that has investors focused on mixed earnings reports from major banks.The Dow Jones Industrial Average DJIA, -1.14% shed about 391 points Tuesday, or 1.1%, ending near 33,911, matching its biggest daily percentage drop since Dec. 28, according to a preliminary FactSet reading. The S&P 500 SPX, -0.20% fell 0.2% and the Nasdaq Composite Index COMP, +0.14% rose 0.1%. Morgan Stanley MS, +5.91% reported results that beat analyst expectations for the fourth-quarter, but those of Goldman Sachs GS, -6.44% disappointed. Corporate earnings have been a key focus for investors monitoring signs of a looming U.S. economic recession, which could threaten the modest rally seen in stocks to kick off 2023. The yield on the 10-year Treasury rose 2.4 basis points to 3.543% on Tuesday, down from its one-year high of 4.360% in October, according to Dow Jones Market Data.
Critics of New Mexico’s oil and gas industry won’t turn down its revenue
The state of New Mexico received so much revenue from increased...
The state of New Mexico received so much revenue from increased oil and gas drilling that the governor and legislators proposed a 12% spending increase in the state budget.
While Gov. Michelle Lujan Grisham has been a proponent of renewable energy, she also has been quick to take advantage of the money brought in by the oil and gas industry. The Carlsbad Current-Argus reported the governor and legislative leaders want a $9.4 billion budget for the next fiscal year.
