UK imposes 25% energy windfall tax to help households as bills surge

Energy producers making extraordinary profits, says Sunak Five billion pound tax offsets 15 billion pound support plan High inflation causing acute distress for Britons – Sunak LONDON, May 26 (Reuters) – Britain announced a 25% windfall tax on oil and gas producers’ profits on Thursday, alongside a 15 billion pound ($ 18.9 billion) package of … Read more

Opinion: Inflation will be higher for longer – and you’re not going to like what’s coming next

The list is about growing concern for investors. In fact, when you have success or failure with abusive feelings, you want to tighten up your process and make sure your message and message-making is accurate. On the high up this list is inflation, which is seemingly everywhere. Bringing down inflation is easy, and the challenge … Read more

Iraq balks at greater Chinese control of its oilfields

Iraq persuaded Lukoil to halt sale to Sinopec – sources Baghdad concerned China becoming too dominant – sources Western firms are not happy with terms of Iraqi deals LONDON / BASRA, May 17 (Reuters) – Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields … Read more

Europe’s gas supply crisis grows after Russia imposes sanctions

Russia imposes sanctions on European Gazprom subsidiaries Polish firm operating Yamal-Europe section also hit Germany to lose 10 mcm / day of gas supply Dutch gas prices rise by up to 20% BERLIN, May 12 (Reuters) – Pressure on Europe to secure alternative gas supplies increased on Thursday as Moscow imposed sanctions on European subsidiaries … Read more

Recession Fears Loom Large Over Bullish Oil Market

The price of gasoline in the US hit an all-time high on Tuesday as the national average spiked $ 0.17 / gallon from last week to $ 4.37 / gallontopping the previous all-time high set March 8. The European Union’s discussion of pulling back from buying Russian oil has sent additional shock waves through an … Read more

NATO to welcome Nordic members as Ukraine pushes back Russian forces

Finland expected to announce bid to join NATO Ukraine halts major route for Russian gas to Europe Russia imposes sanctions on Gazprom units in Europe, US Ukrainian forces seek to cut Russian battlefield supply lines KYIV / BRUSSELS, May 12 (Reuters) – Finland is expected to announce on Thursday its intention to join NATO with … Read more

Russian gas flows to Europe via Ukraine fall after Kyiv shuts one route

Russian gas exports via Ukraine fall to 72 mcm Ukraine declared ‘force majeure’, halted transit point use Gazprom says it cannot send all flows to another route European countries still receiving contracted flows 10 mcm / day of gas would need to be re-routed-analysts LONDON, May 11 (Reuters) – Russian gas flows to Europe via … Read more

This Selloff Has Been a Long Time Coming. That Should Make It Less Scary.

Monday’s market slump had an eerie feel to it, almost as if investors had been expecting it. After the obvious low trigger, things appear to be stabilizing again Tuesday morning. At least for now, it’s a drop, but not a panic. Treasury Secretary Janet Yellen sees them as similar. “The US financial system has continued … Read more

Exclusive: Germany prepares crisis plan for abrupt end to Russian gas

BERLIN, May 9 (Reuters) – German officials are quietly preparing for any sudden halt in Russian gas supplies with an emergency package that could include taking control of critical firms, three people familiar with the matter told Reuters. The preparations being led by the Ministry for Economic Affairs show the heightened state of alert about … Read more

NOPEC Bill Could Send Prices At The Pump Even Higher

After some two years of failed efforts, the NOPEC (No Oil Producing and Exporting Cartels) Act passed by a Senate panel Thursday. in a 17: 4 vote. The bipartisan support of this dangerous, controversial, and arguably illogical piece of legislation, but even the White House now seems to be impeccably weighing the implications. The legislation, … Read more