The yuan is the new dollar as Russia rides to the redback

Russia turns to Chinese currency amid sanctions Moscow becomes No. 4 offshore yuan trading center Yuan’s share of Russian FX market jumps from 1% to 45% Russian central bank supports trend but warns of risks This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine MOSCOW/SHANGHAI, Nov 29 … Read more

Chevron is waiting for Venezuelan oil shipments, but PDVSA wants payments

HOUSTON, Nov 28 (Reuters) – Chevron Corp (CVX.N) is aiming to receive shipments of Venezuelan oil as early as December, after the oil company received a US license to do so last week, but Caracas may not be so excited as US sanctions limit payments, people familiar with the matter said. The United States on … Read more

The global oil market is signaling near-term weakness ahead of the EU ban on Russian oil

NEW YORK, Nov 28 (Reuters) – The global oil market is signaling a potential shift as traders and analysts worry about reduced crude oil demand and oversupply in the market in the coming months. After months of strength, crude futures are flirting with lows not seen all year as China, the largest oil consumer, introduces … Read more

Europe is rushing to fill up on Russian diesel before the ban kicks in

LONDON, Nov. 21 (Reuters) – European traders are scrambling to fill tanks in the region with Russian diesel before an EU ban takes effect in February as alternative sources remain limited. On February 5, the European Union will ban the import of Russian oil products, on which it heavily depends for its diesel. That follows … Read more

EXCLUSIVELY India can buy as much Russian oil as it wants, outside the price cap, says Yellen

NEW DELHI, Nov 11 (Reuters) – The United States is pleased that India will continue to buy as much Russian oil as it wants, even at prices above a price cap mechanism imposed by the G7, if it steers clear of Western insurance, finance and maritime services. by the cap, US Treasury Secretary Janet Yellen … Read more

Lula’s Markets Honeymoon Ends Amid Spending Plan Fears

BRASILIA, Nov. 10 (Reuters) – Brazilian President Luiz Inacio Lula da Silva’s short-lived honeymoon with the markets appeared to have ended Thursday, as investors grew impatient with his desire to increase social spending without tightening long-term tax rules state or name its key economic policymakers. The Brazilian currency and benchmark Bovespa stock index (.BVSP) both … Read more

Gaming Google: Oil companies use search ads to greenwash, research says

Oil giants spent $24 million on Google search ads in two years Google promised not to monetize climate disinformation Research says many ads on Google are distorting facts about climate change LOS ANGELES, Nov. 3 (Thomson Reuters Foundation) — Google is selling valuable digital real estate to oil companies that they use to downplay their … Read more

Exxon’s Record Third Quarter Earnings Nearly Match Apple’s

Oil company beats Wall Street forecast with $19.7 billion profit Exxon’s fossil fuel bets eclipse rivals Shell, TotalEnergies Company projects flat oil production this year on losses in Russia HOUSTON, Oct. 28 (Reuters) – Exxon Mobil Corp (XOM.N) surpassed expectations on Friday as rising energy prices fueled a record-breaking quarterly profit, nearly equal to that … Read more

Oil giants’ huge profits are reviving calls for windfalls

Sector lifted by higher oil and gas prices Four of the top five global oil companies have now reported US President Biden criticizes energy companies Oct 28 (Reuters) – Global energy giants including Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) posted another round of massive quarterly gains, benefiting from rising natural gas and fuel … Read more

Canada raises money for Ukraine by selling bonds

WINNIPEG, Oct. 28 (Reuters) – Canada will sell a government-backed, 5-year bond to raise money for Ukraine and it will impose new sanctions on 35 Russian individuals, including Gazprom executives (GAZP.MM), said Prime Minister Justin Trudeau. on Friday. “Canadians will now be able to go to major banks to buy their sovereignty bonds that mature … Read more