‘Find Roubles’ If You Want Russian Oil, Top Lawmaker Warns EU
Russia’s top lawmaker warned the EU on March 30 that if it wanted Russian natural gas then...
Russia’s top lawmaker warned the EU on March 30 that if it wanted Russian natural gas then it would have to pay in roubles, and cautioned that oil, grain, metals, fertilizer, coal, and timber exports could also soon be priced the same way.
After the West imposed crippling sanctions on Russia in response to the invasion of Ukraine, Russian President Vladimir Putin demanded that natural gas exported to Europe or the U.S. should be paid for in his country’s currency.
Europe, which imports about 40% of its gas from Russia and pays mostly in euros, says Russia’s state-controlled gas giant Gazprom is not entitled to redraw contracts. The G7 group of nations rejected Moscow’s demands this week.
New Analysis Signals Rough Waters Ahead for US Offshore Oil, Gas
As the clock ticks toward the end of the current five-year offshore oil and gas leasing program, a delay...
As the clock ticks toward the end of the current five-year offshore oil and gas leasing program, a delay in the next leasing program could put energy security and jobs as well as millions of dollars in local, state, and federal revenue at risk, according to industry groups.
The fiscal year 2023 Interior Department budget already indicates cause for concern. Expected revenue from existing offshore oil and gas rents and bonuses could nosedive by $370.4 million to only about $25 million. The last two offshore lease sales of the current program remain uncertain.
“The revenues that are projected suggest that there’s not going to be any lease sales probably until 2023,” Erik Milito, president of the National Ocean Industries Association (NOIA), said on March 29. “So, we’re already looking at the fiscal year 2024, according to the government’s current projections, for a potential next lease sale.”
Private equity companies are seeing more capital flow into their oil and natural gas-focused funds as...
Private equity companies are seeing more capital flow into their oil and natural gas-focused funds as higher energy prices and more exit opportunities encourage investors to increase their exposure to the sector after a long period of underfunding. "Investors weren't getting money back in the form of distributions because there weren't a lot of exits, but now we could be in a situation where they're starting to see returns on their investments," explains Jeff Eaton of fund placement agent Eaton Partners.
U.S. stocks end higher Tuesday, S&P 500 exits correction territory
From MarketWatch: U.S. stocks finished...
From MarketWatch: U.S. stocks finished higher Tuesday, with the S&P 500 exiting correction territory after a little over a month, as investors turned more bullish on hopes for a ceasefire agreement between Russia and Ukraine. The S&P 500SPX, 1.23% added about 56 points, or 1.2%, enough to close above the 4,587.77 mark necessary to emerge from correction territory, defined as at least a 10% decline from its prior high. The Dow Jones Industrial Average rose 1% on Tuesday, while the Nasdaq Composite Index booked a 1.8% gain, even as a part of the Treasury yield curve inverted, which has been a reliable past predictor of recessions, albeit often with a roughly two-year lag.
