China’s Innovative Inroads Into Central Asia

Kazakhstan and China are looking to boost joint scientific research. Kazakhstan’s science and higher education minister, Sayasat Nurbek, met with top officials of the China-based Center for Technology Transfer of the SCO Member States (SCO CTTC), the ministry’s press service reported July 24. The parties discussed potential partnerships “in the fields of science and higher education,” including “creating joint laboratories, scientific and technological projects and educational programs.” The meeting did not produce any concrete…

Read more at: https://oilprice.com/Geopolitics/International/Chinas-Innovative-Inroads-Into-Central-Asia.html

New Catalyst Synthesis Paves The Way For Next-Gen Lithium-Air Batteries

Shibaura Institute of Technology scientists have developed a faster, more efficient way to synthesize CoSn(OH)6, a powerful catalyst required for high-energy lithium–air batteries. CoSn(OH)6 (CSO) is an effective oxygen evolution reaction (OER) catalyst, necessary for developing next-generation lithium–air batteries. However, current methods of synthesizing CSO are complicated and slow. The international research team at Shibaura synthesized CSO in a single step within 20 minutes using solution plasma to generate CSO nanocrystals…

Read more at: https://oilprice.com/Energy/Energy-General/New-Catalyst-Synthesis-Paves-The-Way-For-Next-Gen-Lithium-Air-Batteries.html

Imperial Oil Earnings Plummet By 72% On Turnaround, Lower Prices

Canada’s Imperial Oil reported on Friday a 72% annual plunge in net income for the second quarter amid lower commodity prices and significant turnaround activities in both the upstream and downstream divisions. Imperial Oil, majority-owned by U.S. supermajor ExxonMobil, posted a net income of US$510 million (C$675 million) for the second quarter, down from US$1.8 billion (C$2.4 billion) for the same period of 2022. The net income in the April-June 2023 quarter was also halved from the income for the first quarter of 2023, hit by…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Imperial-Oil-Earnings-Plummet-By-72-On-Turnaround-Lower-Prices.html

U.S. Drilling Dips Slightly Amid Rising Oil Prices

The total number of active drilling rigs in the United States fell by 5 this week, according to new data from Baker Hughes published Friday. The total rig count fell to 664 this week. So far this year, Baker Hughes has estimated a loss of more than 100 active drilling rigs. This week’s count is 411 fewer rigs than the rig count at the beginning of 2019, prior to the pandemic. The number of oil rigs declined by 1 this week to 529, down by 92 so far in 2023. The number of gas rigs fell by 3, to 128, a loss of 28 active gas rigs from the start…

Read more at: https://oilprice.com/Energy/Crude-Oil/US-Drilling-Dips-Slightly-Amid-Rising-Oil-Prices.html

500 EVs Among The 3000 Cars On Burning Ship Off Dutch Coast

The massive roll-on, roll-off ship ablaze off the Dutch coast is transporting 500 electric vehicles. The ship’s total cargo is around 3,800 vehicles, some of which are BMWs and Mercedes. Shipping blog TradeWinds reported Japan’s K Line is the operator of “Fremantle Highway.” According to K Line’s figures, there are 3,783 vehicles, of which 489 are EVs. Earlier estimates had the number of EVs at 25.  “The figure is far higher than first estimated and appears to raise the likelihood that a lithium-ion battery in an EV either caused…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/500-EVs-Among-The-3000-Cars-On-Burning-Ship-Off-Dutch-Coast.html

This Company Will Be First In Line When Citgo Sold Off For Creditors

PDVSA creditor Crystallex International Corp. will be first in line to receive a part of the proceeds from the auction of Citgo Petroleum shares later this October, a U.S. judge has ruled. Citgo Petroleum is PDVSA’s crown jewel refinery in the United States. Crystallex was selected to be at the front of the pack because it was first in line to claim it was due part of the money—therefore it deserves priority, US Circuit Judge Leonard Stark said in a ruling this week.  Shares of Venezuela’s PDV Holding—the unit of PDVSA…

Read more at: https://oilprice.com/Energy/Energy-General/This-Company-Will-Be-First-In-Line-When-Citgo-Sold-Off-For-Creditors.html

Eni Beats Estimates Despite 49% Profit Decline

Eni’s (NYSE: E) adjusted net profit for the second quarter exceeded analyst estimates thanks to a very strong gas business despite the 49% earnings slump compared to last year’s second quarter. Eni reported on Friday an adjusted net profit of $2.13 billion (1.935 billion euros) for the second quarter, down by 49% on the year. The earnings nevertheless beat the analyst consensus estimate of $1.8 billion (1.64 billion euros). Adjusted profit before tax fell by 41%, but it is “a highly robust outcome given the 30% fall…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Eni-Beats-Estimates-Despite-49-Profit-Decline.html

A New Semiconductor Shortage? What China’s Export Restrictions Mean For Big Tech

Via Metal Miner    China’s announced restriction on the export of gallium and germanium goes into effect in August. Both of these elements are vital to the microchip industry. Many worry that the move will lead to another major semiconductor shortage. As per the new rule, export of these strategic metals now requires Beijing’s permission. Exporters violating the rule could face possible penalties or charges. Manufacturers often use germanium and gallium in modern-tech devices, including smartphones, laptops, solar panels,…

Read more at: https://oilprice.com/Metals/Commodities/A-New-Semiconductor-Shortage-What-Chinas-Export-Restrictions-Mean-For-Big-Tech.html

Europe’s Fuel Export Market Shrinks After Nigeria Scraps Subsidies

European refiners will lose a portion of a key export market for gasoline after Nigerian consumption slumped following the removal of the fuel subsidies in the African country. At the end of May, Nigeria implemented a major reform in the domestic fuel retail market after Nigeria’s new President Bola Tinubu removed the fuel subsidies the government was paying for years. The subsidy was a huge cost to the federal government, which last year paid as much as $10 billion for the difference between fuel imported at market prices and sold at discounts…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Europes-Fuel-Export-Market-Shrinks-After-Nigeria-Scraps-Subsidies.html

Rising Gasoline Prices Boost Inflation Concerns

1. Gasoline Becomes an Inflation Scare Again- Gasoline prices have been experiencing an unexpected surge lately, with New York futures soaring to a nine-month high of $2.9 per gallon, whilst prices in Asia gained 15% in July alone and are currently at $2.53 per US gallon. – Asia’s gasoline tightness stems mostly from Chinese consumers ramping up demand amidst peak summer driving season, with commercial gasoline inventories in the country falling to the lowest since at least 2019. – A string of force majeure events at Exxon’s Baton Rouge…

Read more at: https://oilprice.com/Energy/Energy-General/Rising-Gasoline-Prices-Boost-Inflation-Concerns.html

Bullish Momentum Builds As Oil Markets Tighten

September West Texas Intermediate (WTI) crude oil settled higher on Thursday, boosted by strength in Brent crude, which surpassed $84 a barrel for the first time since April. The surge was fueled by supply tightness resulting from production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+. These cuts, along with some involuntary outages, have supported the oil market, resulting in four consecutive weeks of gains. Despite Wednesday’s drop in oil prices, the overall outlook remains…

Read more at: https://oilprice.com/Energy/Energy-General/Bullish-Momentum-Builds-As-Oil-Markets-Tighten.html

A Tough Earnings Season For Big Oil

Politics, Geopolitics & Conflict The beginning of this week saw a drone attack in the center of Moscow, near the Russian Defense Ministry building, just a day after Ukraine said it would retaliate for Russia’s missile attack on the Black Sea port of Odesa. There were no casualties in the Moscow drone attack and it caused no serious damage, according to Russian reports, but was likely intended as a show of force (and prestige) on the part of Kyiv. Further to our warning about the fragility of peace in Libya, the UN’s Libya mission…

Read more at: https://oilprice.com/Energy/Energy-General/A-Tough-Earnings-Season-For-Big-Oil.html

Is It Time To Buy Big Oil?

We are now into the meat of earnings season when it comes to big oil, with the major oil companies in all reporting over the next few days. The first of them, Shell (SHEL), did so on Thursday morning, and if what they revealed is repeated on Friday when Exxon Mobil (XOM) and Chevron (CVX) release their Q2 earnings, I will be repeating what I did there, buying on any resulting dip in their stocks. By the time you read this, of course, you will know whether that transpired or not, and if it did, how that trade fared, at least immediately, but it…

Read more at: https://oilprice.com/Energy/Energy-General/Is-It-Time-To-Buy-Big-Oil.html

Oil Markets Are Suffering From A Dearth Of Accurate Data

It’s 2023, and the oil markets have clawed their way through the covid muck and are holding their own through the energy transition–aided, of course, by the war in Ukraine and Europe’s energy crisis which breathed new life into the need for energy security. But the oil markets are battling against new forces–inaccurate or missing data–and there seems to be no resolution in sight. The EIA’s data is the newest culprit gaining attention. Missing data has been present in the oil markets for quite some time. China–the…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Markets-Are-Suffering-From-A-Dearth-Of-Accurate-Data.html

Hopes Of A ‘Soft Landing’ Fuel Bullish Sentiment

Oil prices are on course for yet another weekly gain, fueled in part by supply concerns and in part by growing optimism about a ‘soft landing’ for the U.S. economy.Friday, 28th July 2023The strength of the US economy has added fuel to the recent rally in oil prices, with the 2.4% quarter-on-quarter growth in Q2 prompting many to believe again in the possibility of a soft landing. Even though China’s hoarding of crude does not necessarily look good for the upcoming months as Chinese refiners might suddenly start buying significantly less than…

Read more at: https://oilprice.com/Energy/Energy-General/Hopes-Of-A-Soft-Landing-Fuel-Bullish-Sentiment.html

S&P 500 closes nearly 1% higher on softening inflation data, nabs 3rd week of gains: Live updates

The Dow snapped a 13-day win streak on Thursday.

Read more at: https://www.cnbc.com/2023/07/27/stock-market-today-live-updates.html

Google, Microsoft, and Meta can’t stop talking about A.I. — here’s why Apple rarely mentions it

Apple’s AI works in the background. And the company doesn’t yell about it the way some of the other companies do. It doesn’t need to.

Read more at: https://www.cnbc.com/2023/07/28/why-apple-doesnt-talk-about-ai-as-much-as-google-meta-and-microsoft.html

As Ford loses billions on EVs, the company embraces hybrids

Ford’s hybrid hype runs counter to recent messaging from the Detroit automakers, which have touted the performance and popularity of all-electric favorites.

Read more at: https://www.cnbc.com/2023/07/28/ford-embraces-hybrids-as-it-loses-billions-on-evs.html

Microsoft warns of service disruptions if it can’t get enough A.I. chips for its data centers

Microsoft has been hungry for thousands of graphics processing units to ramp up capacity for artificial intelligence. Not having enough could spell trouble.

Read more at: https://www.cnbc.com/2023/07/28/microsoft-annual-report-highlights-importance-of-gpus.html

July jobs report and more Big Tech earnings are in the week ahead after markets notch historic run for Dow

Investors are wrapping up what’s set to be a third straight winning week for the S&P 500 and the Dow.

Read more at: https://www.cnbc.com/2023/07/28/july-jobs-report-and-more-big-tech-earnings-are-in-the-week-ahead.html

FTX and Genesis reach agreement in bankruptcy dispute: CNBC Crypto World

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Sheila Warren, the CEO of the Crypto Council for Innovation weighs on recent digital asset regulatory developments in the United States.

Read more at: https://www.cnbc.com/video/2023/07/28/ftx-genesis-reach-agreement-bankruptcy-dispute-cnbc-crypto-world.html

Meta is rebooting Horizon Worlds as the VR platform struggles to grow

Meta vice president of metaverse Vishal Shah explains plans to revamp Horizon Worlds.

Read more at: https://www.cnbc.com/2023/07/28/meta-horizon-worlds-metaverse-is-getting-an-update-with-more-games.html

Tim Scott sees big money donor interest while Ron DeSantis hunts for cash

Many top Republican donors are looking elsewhere for a Trump alternative as DeSantis fails to catch on with voters.

Read more at: https://www.cnbc.com/2023/07/28/tim-scott-sees-big-money-interest-as-desantis-hunts-for-cash.html

Key Fed inflation rate falls to lowest annual level in nearly 2 years

Inflation showed further signs of cooling in June, according to a gauge released Friday that the Federal Reserve follows closely.

Read more at: https://www.cnbc.com/2023/07/28/pce-inflation-june-2023-.html

Ukraine war live updates: Putin praises ‘militant friendship’ with North Korea; U.S. intelligence highlights China’s economic support for Russia

An unclassified U.S. intelligence report pointed to an uptick in China’s economic support for Russia as it seeks to mitigate the effect of Western sanctions.

Read more at: https://www.cnbc.com/2023/07/28/ukraine-war-live-updates-latest-news-on-russia-and-the-war-in-ukraine.html

These are the 10 American states that are the most prepared for extreme weather

Floods, extreme heat, and wildfire smoke are among climate risks touching all our lives, but where you live in the U.S. makes a big difference in level of risk.

Read more at: https://www.cnbc.com/2023/07/28/these-are-the-10-states-that-are-the-most-prepared-for-extreme-weather.html

These are the states in America that are the least prepared for extreme weather

Extreme weather is increasing, and these states are the worst in the U.S. at being prepared to protect residents and businesses.

Read more at: https://www.cnbc.com/2023/07/28/these-american-states-are-the-least-prepared-for-extreme-weather.html

‘These are my tapes’: Trump rips new charges in classified docs case

Trump, the leading candidate for the 2024 Republican presidential nomination, also vowed to continue his campaign even if he is convicted and sentenced.

Read more at: https://www.cnbc.com/2023/07/28/trump-rips-new-charges-in-classified-docs-case.html

‘Help Me!’ Kidnapped Texas Teen Found In California After Good Samaritan Sees Her Handwritten Sign

Via The Epoch Times (emphasis ours),

A combination image compiled and designed by The Epoch Times using images from Department of Justice and Aubord Dulac/Oleg Mikhaylov/Desizned/Shutterstock.A 13-year-old girl who went missing from her home in Texas this month was found alive by police in Long Beach, California. A good Samaritan had seen her inside a vehicle with a sign that read, “Help me,” and subsequently called authorities, leading to her rescue.

According to court documents, the teen had run away from home, and on July 6 was walking down …

Read more at: https://www.zerohedge.com/political/help-me-kidnapped-texas-teen-found-california-after-good-samaritan-sees-her-handwritten

“We Shouldn’t Have Done It”: Facebook Exec Admitted They Censored For Biden Regime

Update (1440ET): A leaked Facebook email from 2021 written by Nick Clegg, the company’s president of Global Affairs, to colleagues, reads: “We were under pressure from the administration and others to do more,” adding “We shouldn’t have done it.”

As Matt Taibbi of Racket News writes:

In yesterday’s Facebook Files release, it came out that Facebook, in its desperation to cool down these White House apes, promised to reduce traffic to Carlson’s video by 50% while it was “in the queue to be fact-checked”!

Apart from the obvious, why was this insane? Because while the White House fumed and outlets like the Washington Post excoriated Carlson for a “

Read more at: https://www.zerohedge.com/political/facebook-files-show-brazen-and-aggressive-censorship

Biden’s Break-The-Glass Option: Pardon Hunter And Withdraw From The 2024 Election

Authored by Jonathan Turley,

Below is my column in The Messenger on what I called Biden’s “break-the-glass” option after the disaster in Delaware. After the column ran, Fox News asked White House Spokesperson Karine Jean-Pierre about the possibility of a pardon.

Jean-Pierre cut him off and responded  unequivocally “no.”

I hope that that is true but it would have been more assuring to come from someone who did not clearly misrepresent the President’s earlier denial just a day earlier and change his long-standing position. The President previously denied a series of facts that have been proven, including the fact that his son did make money in China and President Biden did have knowledge of (and interact with) his son’s business dealings. The real question is whether the fix in this case will fail and leave the President with the pardon behind the glass.

Here is the column:

The collapse of the Hunter Biden plea bargain has left many in Washington shocked. After all, this is a city that knows ho …

Read more at: https://www.zerohedge.com/political/bidens-break-glass-option-pardon-hunter-and-withdraw-2024-election

Pentagon Approves Hazard Pay For US Troops In Ukraine, Paving Way For Possible Expanded Presence

There’s been more confirmation to emerge concerning the American military presence in Ukraine, and its expanding role in the conflict, bringing NATO dangerously closer into a potential hot war with Russia.

“The Pentagon has authorized additional hazard pay for U.S. troops serving in Ukraine, a defense official confirmed Thursday,” according to the publication Military Times. “The bonus, known as imminent danger pay, is offered to troops who serve in areas where they could be harmed by hostile fire or mines, insurrection, civil war or terrorism.”

AFP/Getty ImagesThe statement also interestingly said that qualifying troops in Ukraine will be authorized back pay as far back as April 24, …

Read more at: https://www.zerohedge.com/military/pentagon-approves-hazard-pay-us-troops-ukraine-paving-way-possible-expanded-presence

NatWest chair Sir Howard Davies says he won’t quit over Farage row

Sir Howard Davies says the bank, which is 39% owned by the taxpayer, has “the support of our main shareholder”.

Read more at: https://www.bbc.co.uk/news/business-66333091?at_medium=RSS&at_campaign=KARANGA

Train strikes: When are they and why are they taking place?

Members of the RMT union at 14 rail companies will walk out on Saturday.

Read more at: https://www.bbc.co.uk/news/business-61634959?at_medium=RSS&at_campaign=KARANGA

Ex-US bank head to review Bank of England forecasts

Nobel Prize-winning economist Ben Bernanke will look at how the Bank of England forecasts the economy

Read more at: https://www.bbc.co.uk/news/business-66333092?at_medium=RSS&at_campaign=KARANGA

Govt allows direct listing by Indian cos on foreign exchanges; what does it mean for India Inc?

“A direct listing of securities by domestic companies will now be permissible in foreign jurisdictions…This will facilitate access to global capital and better valuation,” says Finance Minister Nirmala Sitharaman While speaking at the launch event of AMC Repo Clearing and a corporate debt market development fund on Friday

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/govt-allows-direct-listing-by-indian-cos-on-foreign-exchanges-what-does-it-mean-for-india-inc/articleshow/102214056.cms

Piramal Enterprises Q1 Results: Co reports Rs 509 cr profit on Shriram stake sale

Total assets of the company rose to Rs 63,938 crore, of which retail loans constituted 55%, up from 34% a year ago. Retail loans grew 57% to Rs 34,891 crore

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/piramal-enterprises-q1-results-co-reports-rs-509-cr-profit-on-shriram-stake-sale/articleshow/102212770.cms

​These 7 FMCG stocks touch their 52-week high, gain up to 20% in a month

​The benchmark index Sensex experienced a marginal decline, reaching the 66,160 level on Friday. However, amid the market downturn, 7 stocks listed on the BSE FMCG index achieved new highs in the past 52 weeks. The 52-week high is a crucial technical indicator for some traders and investors, as it helps evaluate a stock’s current value and predict potential price fluctuations. Essentially, it reflects the highest price at which a stock was traded over the course of the last year.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/these-7-fmcg-stocks-touch-their-52-week-high-gain-up-to-20-in-a-month/pillar-of-strength/articleshow/102209414.cms

Washington Watch: Dems give Fed ‘veto power’ over crypto bills, Rep. Torres says

Negotiations over a stablecoin bill broke down in part because of input from the Federal Reserve and White House, according to a Democratic congressman

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-723A-EB9748045C7C%7D&siteid=rss&rss=1

Live Nation says concert industry will stay hot for at least 2 more years

Executives at Ticketmaster parent and concert-venue operator Live Nation Entertainment Inc. see strong concert demand for another two years.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-723B-48E788CFCC75%7D&siteid=rss&rss=1

Key Words: We warned you about this heat, Joe Biden, a leading scientist scolds. ‘Declare a climate emergency’

July smashes an extreme-heat record, and scientist Peter Kalmus has had enough of Joe Biden’s pursuit of climate initiatives on top of oil and gas approvals.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-723B-108078CE7412%7D&siteid=rss&rss=1