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BP has reported its highest quarterly profit in 14 years, making it the last of the five oil and gas supermajors to report a record-breaking second quarter in 2022 as the ongoing war in Ukraine continues to send the price of oil soaring. While the huge profits allow BP to give back to its shareholders through …
Continue reading "BP earnings by the numbers: $8.45 billion profits"
WashingtonCNN — The Biden administration is working furiously behind the scenes to keep European allies united against Russia as Moscow further cuts its energy supplies to the European Union, prompting panic on both sides of the Atlantic over potentially severe gas shortages heading into winter, US officials say. On Monday, Russia’s state-owned gas company Gazprom said it would cut flows …
The French government is set to force all air-conditioned shops to close their doors and switch off illuminated advertising overnight, in a bid to cut energy use. Energy Transition Minister Agnes Pannier-Runacher says it's "absurd" that leaving doors open while the air conditioning is running can lead to 20% more energy consumption. Businesses which break the …
Continue reading "France orders air-conditioned shops to close their doors – with fines"
Egypt canceled four cargoes of Ukrainian wheat that it contracted to buy before Russia’s invasion, even as Kyiv prepares to restart grain exports following a forced five-month hiatus due to the war. State buyer GASC scrapped the purchase of 240,000 tons for February and March delivery that never loaded in Ukraine, according to three people with knowledge …
Continue reading "Egypt Cancels 240,000 Tons of Ukrainian Wheat Contracts"
Ericson Report 