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US shale has a glaring problem

Oil prices are down a bit, but are still close to multi-year highs. That should leave the shale industry flush with cash. However, a long list of US shale companies are still struggling to turn a profit. A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) and the Sightline Institute detail the “alarming […]

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Merkel wants more US natural gas in Germany – WSJ

Germany will reportedly buy more liquefied natural gas (LNG) from the United States, the Wall Street Journal writes. This month, Germany Chancellor Angela Merkel told a group of lawmakers that her government had decided to co-finance the construction of a €500 million ($ 576 million) LNG shipping terminal in northern Germany, according to the newspaper’s […]

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Sanctioned Russian assets attracting investment from biggest US pension funds

Mounting political tensions between Moscow and Washington along with endless US threats to impose more and more sanctions haven’t prevented America’s biggest pension funds from investing in Russia. The California Public Employees’ Retirement System (Calpers), managing retirement savings of nearly two million Americans, has $ 1.1 billion dollars invested in Russian assets, including state-issued bonds […]

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China set to open world’s longest sea bridge to Hong Kong & Macau

A $ 20 billion sea-crossing bridge, connecting mainland China to Hong Kong and Macau is to finally open on Tuesday. The six-lane bridge has been constructed in just nine years. The 55-kilometer long bridge (34 miles) will cut travel time from Hong Kong to Zhuhai (in China’s southern Guangdong province) from three hours to 30 […]

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Putin signs decree allowing Russian counter-sanctions against Ukraine – Kremlin website

Russian President Vladimir Putin has signed a decree allowing Russia to target Ukrainian companies and individuals with sanctions in response to Ukrainian sanctions against Russia, the Kremlin website reported on Monday. The decree was issued as “a response to unfriendly actions of Ukraine” related to the introduction of sanctions against citizens and legal entities of […]

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Saudi Arabia says scandal over Khashoggi killing won't trigger another oil crisis

There will not be a repeat of the 1973 oil embargo despite the crisis over the murder of journalist Jamal Khashoggi at the Saudi consulate in Istanbul, the Saudi energy minister reportedly said on Monday. On Friday, Saudi Arabia admitted for the first time that Khashoggi — a critic of Saudi leaders and former Washington […]

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India offloading US Treasuries to support national currency & buy gold

The Reserve Bank of India (RBI) is cutting down on its holding of US Treasuries, joining a number of countries which have been dumping US debt to bolster domestic economies. The country’s share of US sovereign debt saw a gradual decline from $ 157 billion in March to $ 140 billion as of the end […]

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Spoils of war? India mulls filling trade gap left by US-China tariff tit-for-tat

India aims to capitalize on the Sino-American trade war and has already compiled a list of 180 products its companies could export to the US, to substitute for the up to $ 10bn-worth of Chinese goods targeted by Trump’s tariffs. After Washington slapped hiked tariffs on $ 200 billion-worth of Chinese imports last month, covering […]

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UK’s plastics recycling industry accused of widespread fraud & pollution

The Environment Agency (EA) is investigating suspected widespread abuse and fraud within Britain’s plastics recycling industry. It will deal with complaints that firms and organized crime are abusing the system. Data from the EA showed that six UK exporters of plastic waste have had their licenses suspended or cancelled in the last three months over […]

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