Shell Reports Record Earnings of $39.9 billion for 2022

Shell Reports Record Earnings of $39.9 billion for 2022

Shell just reported adjusted earnings of $39.9 billion for 2022, double the earnings from 2021, becoming the latest Big Oil firm to deliver record profits for last year. Shell’s adjusted earnings doubled to $39.9 billion in 2022 from $19.3 billion in 2021,...
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Hedge Funds Are Record Short Bonds

Hedge Funds Are Record Short Bonds

  2023 started with a buying-panic in bonds (approaching their best start to a year in over 30 years at one point) as confidence grew about The Fed’s terminal rate (not as high as some feared) and a soft landing...
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Chevron (CVX) posted mixed fourth-quarter results early Friday, missing on earnings views while topping revenue estimates. The energy giant reported record profits and cash flow for 2022, on top of its earlier announcement launching a massive $75 billion share...
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History: The first ETF launched 30 years ago, revolutionizing investing

History: The first ETF launched 30 years ago, revolutionizing investing

30 years ago, the launch of the first exchange-traded fund ushered in a new era of investing. Now, the industry is bringing exotic trading strategies to the masses. The SPDR S&P 500 ETF Trust, which tracks the benchmark U.S. stock...
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Natural Gas Pipeline Connecting Lithuania And Latvia  Was Rocked By An Explosion

Natural Gas Pipeline Connecting Lithuania And Latvia Was Rocked By An Explosion

On Friday at around 5pm an explosion occurred in the Amber Grid gas pipeline in Pasvalys district. According to initial data, no people were injured. The explosion took place away from residential buildings. The fire is being extinguished by the...
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Rumor: Challenger 2 tanks for Ukraine

Rumor: Challenger 2 tanks for Ukraine

As another escalation and another extension of the war by several hours up to 10 Challenger 2 MBTs will be considered by the UK for supply to Ukraine. This will be the first time Western tanks have entered the war...
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China’s Petro-Yuan Ambitions

China’s Petro-Yuan Ambitions

Credit Suisse’s Zoltan Pozsar said the de-dollarization of the global oil industry is in full swing–even if we can’t see the final end game from here. Some 40% of proven oil reserves belonging to OPEC+ members is owned by Russia,...
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ExxonMobil Sues EU Over Investment-Destroying Windfall Profit Tax

ExxonMobil Sues EU Over Investment-Destroying Windfall Profit Tax

ExxonMobil Corp. is suing the European Union on the grounds that the 33% windfall tax will hinder investment. Exxon’s chief financial officer Kathryn Mikells said the tax could cost $2 billion between now and the end of next year. Exxon Mobil...
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SpaceX Launches Next-Gen Starlink Satellites Into New Low Earth Orbit

SpaceX Launches Next-Gen Starlink Satellites Into New Low Earth Orbit

Falcon 9 launches 54 Starlink satellites to low-Earth orbit; completes SpaceX’s 60th mission of 2022. Starlink has launched the first batch of next-generation satellites into orbit early Wednesday to add even more broadband capacity to the network. Around 04...
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China Starts Work On The World’s Largest Desert-Based Renewable Energy Project

China Starts Work On The World’s Largest Desert-Based Renewable Energy Project

China has broken ground on a renewable energy project worth an estimated $11 billion in the province of Inner Mongolia. According to a Bloomberg report, the project will have a capacity of 16 GW and produce some 40 billion kWh of...
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Slovakia Ordered 152 Swedish IFVs CV90 Mk IV

Slovakia Ordered 152 Swedish IFVs CV90 Mk IV

Slovak Ministry of Defense announced that it had signed an agreement worth 1.37 billion USD for the delivery of 152 Swedish infantry fighting vehicles CV90 Mk IV. The Swedish Combat Vehicle 90 or CV90 has proven suitable for the subarctic...
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Turkish stealth UAV Kızılelma will be a substitute for the undelivered Lockheed Martin F-35 Lightning II

Turkish stealth UAV Kızılelma will be a substitute for the undelivered Lockheed Martin F-35 Lightning II

Turkish manufacturer Bayraktar announced that its first indigenous stealth supersonic unmanned fighter aircraft Bayraktar Kızılelma, has passed the first test runs. This is a very positive signal that the program is on the right track. Kızılelma is planned...
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OPEC+ Leaves Production Quotas Unchanged

OPEC+ Leaves Production Quotas Unchanged

At its meeting on Sunday, the OPEC+ group decided to leave its production quotas unchanged. The cartel also announced that its next meeting will be in February and the one after that in June, marking the end of monthly meetings....
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US Bans Huawei, ZTE Telecom Electronic Equipment

US Bans Huawei, ZTE Telecom Electronic Equipment

The Federal Communications Commission (FCC) adopted new rules on Nov. 25 that will prohibit the import or sale of Chinese communications equipment deemed to pose an unacceptable risk to national security. The new rules will ban equipment from Chinese telecom.....
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Russia drafts decree banning oil sales to price-cap participants

Russia drafts decree banning oil sales to price-cap participants

The Kremlin is drafting a presidential decree that will ban Russian companies and any traders who buy the country’s oil from selling it to anyone participating in a price cap, according to a person familiar with the matter. The decree...
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