Finance news

Indian Companies Eye Venezuelan Oil Fields as Imports Surge 51% in a Month

Indian energy companies are interested in expanding into Venezuelan oil, New Delhi’s top energy official Hardeep Singh Puri said today at a meeting with Venezuela’s interim president Delcy Rodriguez in India, as quoted by Reuters. The report follows earlier media coverage of the meeting, citing Indian officials as saying that Venezuela’s government sees the country as a preferred partner in energy matters. “We are working with a government that is friendly, that wants a partnership with India,”

Japan Plans to Replace Up to 14 Nuclear Reactors by 2050

Japan's government is making long-term plans for replacing up to a dozen nuclear reactors by 2050, to secure its electricity supply, with two to five of these to be rebuilt by the 2040s, the country's economy ministry said today. This is the latest step in a policy reversal for Tokyo, which, following the 2011 Fukushima disaster, closed all of its nuclear reactors and tried to switch to other forms of electricity generation. The Strait of Hormuz crisis, as well as LNG price volatility, has recen

Brunei picks helicopter-flying Prince Abdul Mateen as foreign minister

Brunei’s Sultan Hassanal Bolkiah has named one of his youngest sons as foreign minister in a major cabinet reshuffle – largely seen as a move to prepare for the next generation of leaders in the oil-rich kingdom. As the 10th child and fourth son of the sultan, Prince Abdul Mateen is down the line of succession, but his matinee idol looks have earned him more than 3 million followers on Instagram, providing a modern face to the royal family. Another younger son, Prince Abdul Malik, was also...

Oman Oil Terminal Attack Rattles the Market's Last Calm Corner

Media reports about a blast disrupting oil loadings at Oman’s main terminal pushed benchmark prices higher earlier today, in the latest sign that any hopes about an end to Persian Gulf hostilities is probably premature. At the time of writing, Brent crude was trading at $95.37 per barrel, and West Texas Intermediate was changing hands for $93.04 per barrel on the futures market, modestly up on Thursday, when prices dropped on reports about a ceasefire between Israel and Hezbollah. Later news cov

Auditors shine light on UK royal housing, disgraced Andrew’s ‘peppercorn rent’

King Charles’ disgraced younger brother Andrew Mountbatten-Windsor held leases for 10 properties, three of which he sublet, while the monarch ⁠pays rent for the former prince’s daughters’ palace ⁠homes, a report by the UK’s spending watchdog said. In the most ⁠detailed review ever of royal property arrangements, the National Audit Office (NAO) report on Friday showed some leases were based on commercial valuations, while for others, senior figures paid no rent or negligible amounts for their...

Morning Briefing Podcast: Pharma: The bill that destroys billions in investments

The federal government is coming under pressure from the economy, especially as a result of Health Minister Nina Warken's plans - as two current cases with drastic consequences show this week.

Brussels hints at new anti-China trade weapon

New tool could need to apply to 'entire segments of value chains', senior European Commission official says

Glosse: What the hell is wrong with you, dear Munich?

For a long time, Munich was the antithesis to German dreariness. Now the rich model city also has to save money. What does that do to the Bavarian ego? A personal view from our author.

South Koreans sweat over US$779,000 air conditioning plan for prisons

South Korea’s Ministry of Justice on Tuesday sought to defuse criticism over a 1.2 billion won (US$779,162) plan to install air conditioning in prisons, clarifying the equipment will cool corridors, not inmates’ cells. The ministry framed the installation as a minimal measure to protect vulnerable inmates and correctional officers from extreme heat, while online critics condemned the taxpayer-funded project as an unfair convenience for criminals. The ministry said the equipment will be installed

North Dakota Chases A Second Bakken Boom Through Enhanced Recovery

North Dakota’s elected officials are pushing hard to deploy Enhanced Oil Recovery (EOR) technologies to boost oil production in the Bakken before Donald Trump's tenure as president expires. The Trump administration has significantly opened up federal lands and offshore waters for oil and gas drilling, rolling back Biden-era conservation rules to mandate more quarterly lease sales. And proposals have been advanced to expand offshore drilling to areas previously restricted, including the federal w

Brazil, Guyana, Venezuela Fuel South America’s Oil Export Boom

South America has raised its oil exports more than the U.S. has done so far this year as key producers in the region boosted production and shipments to a world scrambling for crude that’s not dependent on the Strait of Hormuz. Over the past five years, South America’s biggest producer and exporter, Brazil, has started production at several new offshore platforms in the Santos pre-salt fields. Guyana has continuously increased overseas shipments as the Exxon-led consortium starts up developments

Accident while merging: Does a truck driver always have to look in the front mirror?

Who is liable if there is a crash while merging onto the road after a fuel stop? The Cologne Higher Regional Court provides clarity in the dispute between a truck driver and a car driver.

IAEA Warns Iran Nuclear Risk Has Increased

The possibility of Iran developing a nuclear weapon is now higher than it was before the United States and Israel first attacked the country in February, the International Atomic Energy Agency has concluded in a report. The conclusion suggests the war has so far resulted in the opposite of what President Trump set out to do, namely, prevent Iran from developing a nuclear weapon. Bloomberg cited the report, which has restricted access, saying that in it, the IAEA had warned its member states that

Brazil to ramp up oil output as Asia looks for Iran alternative

Trafigura Pays Record Dividend as Profit Soars Over $4B

Trafigura Group made a record payout to its top traders and executives.

Brazil Launches World-First Ethanol-Powered Grid Engine

Brazil is undertaking a major biofuels experiment that could be majorly disruptive for the global energy landscape if it proves effective. The South American country is filthy rich in biomass, and is seeking to use ethanol in novel applications – in this case, to power the energy grid. A new ethanol-powered engine designed specifically to provide electricity to the grid was just launched at the Suape II power plant in Pernambuco, in a world first. Brazilian energy company Suape Energia has partn

is spacex a rising tide for space stocks or a monopoloy and bearish to smaller stocks?

https://crudematerial.com/when-the-monopolist-goes-public-a-two-trillion-problem/ interesting article on this, do we think that its a rising tide for all space stocks or a monopoly and going to be bearish for smaller stocks? article makes some decent points in that its margin compression event submitted by /u/FF430 [link] [comments]

Oil Retreats on Truce Optimism

Oil prices fell as traders bet the US and Iran are nearing a deal.

A New U.S. Battery Line Designed to Make Energy Storage Safer and Cheaper

The US has recently launched a new battery production line, which is expected to help researchers develop safer and cheaper energy storage technologies for the electric grid. The new line is housed at the Grid Storage Launchpad (GSL), a 93,000-square-foot research facility. It is run by the Department of Energy's (DOE) Pacific Northwest National Laboratory (PNNL) in Richland, Washington State. According to PNNL, the newly commissioned production line features a total of 16 pieces of equipment in

Total tax increasing a lot while filling joint tax return with my wife, who never earned anything in Germany, after declaring her income from before she moved into Germany - Is this typical ?

I have been a tax resident in Germany for several years now and I had a tax class 1. I got married in 2024 and a few months later, I was able to register my marriage and change my tax class to 3. My wife was working in our home country and the tax was being deducted there. Then in August, she moved to Germany on FRV. She did not earn anything in Germany until date. I was filing my tax return in Elster and I decided to file jointly for both of us. Since my tax class changed, I was expecting a good one

Iran's Oil Exports Collapse to Six-Year Low as Blockade Tightens

Iran's oil exports fell to their lowest level in at least six years in May as the U.S. naval blockade continued to choke off crude shipments and leave tens of millions of barrels stranded at sea. According to shipping data from Vortexa, Iran exported just 209,000 barrels per day (bpd) of crude oil and condensate in May, down from 1.34 million bpd in April and nearly 1.9 million bpd in March. Kpler had estimated May exports slightly higher at 260,000 bpd, but still the lowest level since the heig

Venezuela’s Debt Overhaul Faces New Controversy

When the US removed Nicolás Maduro from power in Venezuela, the expectation was collapse. It has not come. The removal of a long-serving head of state is almost always followed by economic chaos. Following the removal of Saddam Hussein, Iraq’s oil production fell by 36%, and its economy shrank by almost a quarter. But Venezuela, against considerable odds, has avoided that fate. President Delcy Rodríguez has stabilized the home front while reopening the country’s oil industry to American capital

Georgia’s Government Backs a Controversial Crypto Push

Tether, the world's largest stablecoin issuer, has announced a major investment in Georgia and plans to launch GEL?, a digital token pegged one-to-one to the Georgian lari, a currency used only within the country of 3.7 million. The move signals growing crypto ambitions in the South Caucasus, but also raises concerns about transparency, as it comes with full backing from the authoritarian-leaning Georgian government. Stablecoins are designed to hold a fixed value, typically pegged to the US doll

U.S. Oil Shocks Don't Hit Like They Used To, Fed Study Finds

The United States still feels oil shocks. It just doesn't feel them the way it did when America was dancing to disco and waiting in gas lines. If the Fed is right, the idea that every oil shock leads to recession is outdated. A new study from the Federal Reserve Bank of Boston finds that rising domestic oil production has fundamentally changed how higher crude prices ripple through the U.S. economy. The result is a country that remains vulnerable to energy inflation but is far less likely to suf

7 taken away as police ramp up patrols around former site of Tiananmen vigil

Hong Kong police took away seven people who appeared in Causeway Bay on Thursday evening carrying flowers and dressed in black to mark the 37th anniversary of the Tiananmen Square crackdown. They included Chan Po-ying, former chairwoman of the now-defunct League of Social Democrats opposition group, and activist Virginia Fung King-man. Police said they stopped and searched five men and two women, aged between 17 and 79, for allegedly disrupting order in the area around Great George Street and...

Inside the $850 million Obama Presidential Center ahead of its Juneteenth opening

President Obama's library will cost $30 to visit, making it the most expensive presidential museum or library in modern history.

Automotive industry: Audi presents its first super sports car – and breaks with tradition

Audi boss Gernot Döllner presents the 1000 hp Nuvolari super sports car amidst growing austerity constraints. The plug-in hybrid is expected to usher in Audi's visual and qualitative turnaround in 2027.

Central Banks Bought Less Gold in 2025 But It Still Hit a 45 Year High

Gold saw a significant price rally over the course of 2025, after geopolitical uncertainty and heightened central bank buying drove more people to the safe haven asset. Gold prices rallied 44 per cent last year, reaching $4,550 per ounce in December and recording 56 fresh record highs according to the latest report from Metals Focus. It also marked the asset's strongest performance since 1980. The report credited the sharp rise to concerns surrounding global growth, inflation and supply chains,

Dangote Breaks Ground on 700,000-Bpd Second Crude Processing Unit

Africa's biggest refinery is getting bigger. Nigeria's Dangote refinery has started work on a second crude processing unit that will add another 700,000 barrels per day (bpd) of capacity, putting the complex on track to rival the world's largest refining site and giving billionaire owner Aliko Dangote a much larger role in global fuel markets. According to Dangote Petroleum Refinery CEO David Bird, construction is already underway at the Lekki site outside Lagos. The new refinery is expected to

Industrial policy: Is Berlin reacting to the pharmaceutical crash? Weakening of Warken's austerity law is becoming more likely

Pharmaceutical companies want to invest billions less because Berlin wants to remove their privileges. Some in the government coalition want to react immediately - but others definitely don't.