Day: September 14, 2022

Fortescue looks to build 9.2GW wind and solar green hydrogen project in Egypt

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Andrew Forrest’s Fortescue Future Industries says it is looking to build a 9.2GW wind and solar facility that will power green hydrogen production in Egypt, and could also include local manufacturing facilities for wind and solar. Forrest and his team from FFI, the billionaire’s newly formed green energy venture, are on yet another global tour scouting for opportunities to meet his ambition of producing 15 million tonnes of green hydrogen a year by 2030. The newly revealed 9.2GW project – and other green energy opportunities – were discussed over the…

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Pakistan’s current engagement with FATF and progress in AML/CFT domain, the Spokesperson stated the following:

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Pakistan’s current engagement with FATF and progress in AML/CFT domain, the Spokesperson stated the following: Pursuant to the authorization of Onsite Visit by FATF Plenary in June 2022, an FATF technical team recently visited Pakistan and held detailed discussions with relevant agencies. From our perspective, it was a smooth and successful visit. The focus of the visit was to validate on ground Pakistan’s high-level commitment and sustainability of reforms in our AML/CFT regime . The meetings with FATF team were held in a constructive and positive atmosphere. The Report of…

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China And Russia Move To Disrupt The Dollar’s Dominance In Oil Markets

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The long-mooted prospect of the end of the U.S. dollar’s hegemony in the global oil and gas markets took another step towards realisation last week with the announcement that Russian and Chinese hydrocarbons giants, Gazprom and China National Petroleum Corporation (CNPC) have agreed to switch payments for gas supplies to rubles (RUB) and renminbi (RMB) instead of dollars. In the first phase of the new payments system, this will apply to Russian gas supplies to China via the ‘Power of Siberia’ eastern pipeline route that totals at minimum 38 billion…

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Russia’s Energy Blackmail Is Backfiring

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Putin

In early September 2022, Russian President Vladimir Putin spelled out his intention to punish Europe for resisting Russia’s assault on the world order and supporting Ukraine louder and clearer than ever before. Speaking at the high session of an economic forum in Vladivostok, Russia, Putin asserted that the confrontation in Ukraine has reinforced Russia’s sovereignty, so in reality, it stands to gain from deepened global polarization and has suffered no significant losses (Nezavisimaya gazeta, September 7). He described the proposal to enforce a price cap on oil and gas exported…

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Oil Prices Inch Lower On Hot Inflation Data

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Despite the drop-off in European spot prices, the cost of natural gas remains prohibitively high, paving the way for global gas-to-oil switching in the power generation industry. Inflation is rearing its ugly head again, with U.S. consumer prices gaining 0.1% month-on-month in August, just when the analytical community and US Federal Reserve alike expected a month-on-month dip. This will only bring grist to the mill of the Fed, meeting next week to discuss further interest rate hikes. With ICE Brent dropping to $93 per barrel after several consecutive daily increases,…

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