EU rethinks relations with China
"The EU sees its first priority as reducing dependence on China for technology and imports of resources," von der Leyen "We need a balanced relationship with China," President Macron.
Walter Grand
Europe has a new problem: no place to store LNG - Business Insider
Europe's LNG imports will increase 25% in 2022 amid the collapse of the Nord Streams and sanctions on Russia. But in Europe, only Spain has an extensive LNG storage network. Tankers with gas have to wait weeks for their turn to unload.
Oil demand will grow in 2023 - IEA
In 3Q2022 the supply of oil in the market exceeded demand. According to IEA analysts' forecasts, the situation will change in 4Q2022. During 2023 demand will grow by ~1.5 mln bpd, while supply by ~3.3 mln bpd.
China will stop supplying LNG to Europe to ensure its country's winter heating season - Bloomberg
The news for the EU is not good. The fact is that China redirected contracted tankers with LNG to Europe because of the high demand and, as a consequence, the growth of the cost. Now this gas route is closed.
Ilon Musk's SpaceX can no longer fund Starlink work in Ukraine, - CNN
Starlink operations will cost more than $120 million by the end of the year and about $400 million over the next 12 months, SpaceX said. Musk's company is offering to let the Pentagon pick up the cost of operating Starlink.
Danone exits dairy products business in Russia - company
Control of its dairy and vegetable products division will be transferred to a new owner. The losses will amount to up to €1 billion.
Fear receded: the S&P 500 rebounded after falling nearly 2% at the start of trading
The S&P 500 Index is now up 1.7%. Investors have decided to close short positions. The fundamental problems haven't gone anywhere, and the interest of shorts in this market may grow again.
U.S. population faces longest electricity price increase in 30 years - Bloomberg
Gas prices in September were about 33% higher than a year earlier. The current series of cost increases is the longest in more than three decades. Many U.S. households are heated by gas and oil. Rising energy prices have a direct impact on utility bills, putting even more pressure
Interest rates on ruble deposits in banks are growing
The average maximum rate in the top 10 Russian banks amounted to 6.67%, having increased by 0.13 p.p. in the first decade of October. Prior to that, interest rates in the Russian banks were declining from their March highs, having grown only slightly in August. Banks are
Floating electricity. The EU intends to lease power-generating ships
Shortage of energy resources and electricity makes Europe look for alternative options to combat high prices and shortage of these resources. Vessels generating electricity from biodiesel, LNG and fuel oil have caught the eye of European countries. The Turkish company Karpowership, which owns a fleet of "floating power plants," says