Year: 2022

Russia announced today that starting immediately, they will begin selling natural gas to ‘unfriendly countries’ in Rubles.

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This is a far bigger development than is being reported. Russia currently supplies about 40% of Europe’s natural gas, which is used to heat homes and power their grid.Current EU sanctions against Russia have conveniently excluded nat gas for this reason. There is no way for Europe to cut off such a significant portion of their own gas supply and not cause complete chaos.Even if the US and other countries swoop in to frantically try and make up the shortfall, the infrastructure to switch to LNG isn’t yet built. The…

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Seminar calls for crackdown against abuse of social media in Pakistan for committing harassment of woman activists, entrepreneurs

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There should be effective implementation of laws to crackdown against the extensive use of social and digital media platforms for unabatedly harassing activists striving for the cause of women’s empowerment and female professionals and entrepreneurs who work to utilize their skills for the national economy.  This was one of the recommendations at a seminar on women’s empowerment organised by the National Forum for Environment and Health (NFEH) here at a hotel and attended by working women who have excelled in different fields.Those who spoke on the occasion demanded that social…

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EU plans minimum gas storage as energy prices soar

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The EU on Wednesday proposed a law requiring natural gas storage be filled to a minimum 80 percent before next winter as it grapples with soaring energy prices exacerbated by the fallout from Russia’s war in Ukraine. The measure is one of several options the 27-nation bloc is looking at as inflation and projected lower economic growth from the war erode a vibrant recovery from the Covid pandemic. It is especially important because Russia provides nearly a third of the EU’s natural gas imports. While those have been left untouched…

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Oil at $150 per barrel ‘is not outside the realm of possibility’: energy trader

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Oil at $150 a barrel is not “outside the realm” of possibilities, says one energy trader. “It’s hard to take anything off the table right now. Russia is starting to retaliate with its own response to U.S. sanctions, whether that’s demanding payments in rubles or potentially not allowing crude to flow through a very prominent pipeline through Kazakhstan,” Rebecca Babin, senior equity trader for CIBC Private Wealth, told Yahoo Finance Live. “As we’ve seen this escalate in ways that were very low probabilities when we started, and having these tangential impacts…

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Russia’s LNG ambitions put at risk as Linde exits

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International chemicals giant Linde has joined a host of Western oil producers, oilfield service providers and technology players in exiting Russia following the country’s invasion of Ukraine, putting in doubt Moscow’sambitions of becoming a major global exporter of liquified natural gas by 2030. As a member of a consortium with Technip Energies and Russia’s Nipigazpererabotka, Linde is a key partner underpinning a multi-billion dollar engineering, procurement and construction contract for the Arctic LNG 2 export project led by Novatek, Russia’s largest independent gas producer. In a statement placed on a…

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