Month: August 2022

On July 25, 2022, LONGi Green Energy Technology Co., Ltd. (LONGi)’s Central R&D Institute officially kicked off operations at its global headquarters in Xi’an, capital of Northwest China’s Shaanxi Province. The LONGi Central R&D Institute, which includes a highly efficient monocrystalline solar cell center and a pilot production line of monocrystalline solar cell, primarily provides R&D technical support and patent reserves for the industrialization of the next generation of solar products. LONGi Central R&D Institute is a world-class facility for the company to carry out research and development in the…

If you ask a random EU official if the bloc should continue trying to punish Russia for its invasion of Ukraine, you will invariably get a positive answer. The sanction potential is reaching its end, but this is no reason for the EU to relieve the pressure, that official will say, as many have in conversations with the media. And yet, the EU has quietly begun to unwind its sanctions against Moscow. The UK’s Express called it caving in to Putin. Bloomberg dubbed it “corrections to previous sanctions.” Whatever it…

Dozens of giant commodity and energy traders saw their profits explode during the pandemic thanks to their ability to leverage their storage facilities, global network of terminals and shipping fleets to cash in on supply disruptions, soaring energy prices and rising demand. Vitol Group, the world’s largest commodity trader, generated record net income of $4.2 billion last year, with rival Mercuria raking in $1.25bn. Vitol announced a major share buy back to the tune of US$3 billion as a way of rewarding the roughly 450 senior staff who own the…

After touching the highest level since 2009 above $130/bbl, oil prices have pulled back sharply over the past two months with both Brent and WTI crude currently trading at sub-$100/bbl, and the Biden administration is gunning for a much bigger drop. In an interview with Bloomberg, Amos Hochstein, the White House’s senior adviser for global energy security, has said that gas and oil prices need to go even lower while U.S. producers and OPEC+ need to raise output. As of 13:02 p.m. EST, Brent crude was trading down 3.32% on…