Category: Highlights

Europe’s imports of Russian-sourced diesel spiked 13% last month as the continent struggled to wean itself off Moscow’s fuel in response to the war in Ukraine. Russian-sourced diesel to Europe outpaced non-Russian-sourced diesel by nearly 200,000 barrels a day, according to a report published Tuesday from Vortexa, which tracks energy commodities. Overall, Europe’s imports of Russian diesel increased a staggering 23% from July 2021. The uptick in Europe’s appetite for Russian diesel underscores the complexity of choking Moscow’s energy flows as its war in Ukraine rages on. The European Union…

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ISPR confirms Gen Bajwa received a telephone call from UAE President Sheikh Mohamed bin Zayed al-Nahyan Days after speaking to the US deputy secretary of state, army chief General Qamar Javed Bajwa has now reached out to Saudi Arabia and the United Arab Emirates (UAE) as part of efforts to ensure financial assistance for Pakistan. As the Executive Board of the International Monetary Fund (IMF) is set to meet later this month to formally approve the next tranche of $1.2 billion instalment, the international lender wants Pakistan to ensure it…

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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…

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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…

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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…

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