Pakistan Considers Iran Gas Pipeline Restart Despite U.S. Sanctions

Via The Cradle Pakistan is mulling over completing a much-delayed pipeline project with Iran, which has been stalled for years and has failed to move forward due to US sanctions.  Islamabad is considering finalizing the first phase of the 80-kilometer pipeline, according to Pakistani news site The Nation. “Islamabad is contemplating to kick-off construction work on the 80 kilometers portion of Iran-Pakistan gas pipeline project… to escape a potential penalty of $18 billion,” the report said. “Pakistan will submit an application to seek…

Read more at: https://oilprice.com/Energy/Natural-Gas/Pakistan-Considers-Iran-Gas-Pipeline-Restart-Despite-US-Sanctions.html

How Next-Gen Biomanufacturing Can Help Slash Global Emissions

Osaka University researchers succeeded in biomanufacturing a sugar product using chemically synthesized sugar for the first time. With refinement of this technology, one can envision a future society in which the sugar required for biomanufacturing can be obtained ‘anytime, anywhere, and at high rate’. In the future, biomanufacturing using chemically synthesized sugar is expected to be a game changer in the biotechnology field – including the production of biochemicals, biofuels, and food, where sugar is an essential raw material…

Read more at: https://oilprice.com/The-Environment/Global-Warming/How-Next-Gen-Biomanufacturing-Can-Help-Slash-Global-Emissions.html

Nigeria Beats Economic Growth Estimates as Oil Exits Contraction

Nigeria’s economy grew 2.54% quarter-on-quarter, ending 2023 with a 3.46% expansion in gross domestic product as the oil sector ended three years straight of contraction, according to the country’s National Bureau of Statistics.  Source: Nigeria National Board of Statistics The economic growth expansion beat Bloomberg estimates of 2.4%.  According to the Nigerian government, the country’s oil sector expanded 12.1%, with production rising to 1.55 million barrels per day, up from 1.34 million bpd in the previous year. …

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Nigeria-Beats-Economic-Growth-Estimates-as-Oil-Exits-Contraction.html

The Race for Natural Hydrogen Is Heating Up

When it comes to hydrogen, all eyes have been on the development of the world’s green hydrogen potential. This would mean a move away from fossil-fuel-derived hydrogen in support of a green transition. However, there may be a clean alternative right under our noses – white hydrogen. Naturally occurring hydrogen, also known as white hydrogen, was first discovered in Mali in 2012 when a borehole drilled for a well several decades earlier was found to be emitting natural hydrogen. This has given scientists cause for optimism in their exploration…

Read more at: https://oilprice.com/Energy/Energy-General/The-Race-for-Natural-Hydrogen-Is-Heating-Up.html

Land Availability Forced India To Scale Back Solar Power Installations

India’s solar installations fell dramatically last year as the country ran into difficulties acquiring the large swaths of land needed, a new research report said on Thursday. Research firm Mercom Capital said in a new report that India’s solar installations came in at just 13.4 GW last year, a 7.5 GW drop from the year prior. The challenges that India faced in adding solar installations were not the high cost of solar. The biggest challenges were delays in land acquisition, connectivity issues, and new regulations such as General Network…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Land-Availability-Forced-India-To-Scale-Back-Solar-Power-Installations.html

The U.S. Finally Started to Crack Down on Crypto Emissions in 2023

Crypto companies worldwide have carried out mining and trading activities relatively unchecked in recent years, as governments have dragged their feet in establishing adequate regulations to manage the sector. Meanwhile, many companies have been using vast amounts of energy to power the activities required to mine crypto, as demand for the digital currency has steadily increased. The U.S. is now taking legal steps to punish companies that have abused their position of economic power. However, the lack of regulation shows the need to develop a clear…

Read more at: https://oilprice.com/Finance/the-Markets/The-US-Finally-Started-to-Crack-Down-on-Crypto-Emissions-in-2023.html

China Seeks Cheap Spot LNG Supply as Prices Dip to Three-Year Low

Chinese LNG importers are on the lookout for cheaper supply of liquefied natural gas on the spot market as prices in North Asia have halved from October levels and slid to a nearly three-year low last week, traders familiar with the deals told Bloomberg on Thursday. Shenzhen Energy Group and China Gas Holdings Ltd have entered into talks with potential suppliers for more spot LNG cargoes for the coming months, while China Resources Gas Group has bought a shipment for delivery in the middle of March, Bloomberg’s sources said.China…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/China-Seeks-Cheap-Spot-LNG-Supply-as-Prices-Dip-to-Three-Year-Low.html

Red Sea Chaos To Have Limited Effect On LNG Prices

Europe and Asia are set to finish the winter without significant disruptions to liquefied natural gas (LNG) supply and without price spikes, despite the ongoing chaos in global commodity shipping due to the Houthi attacks on commercial vessels in the Red Sea.    Weaker demand than historical averages and higher gas stockpiles in both regions have spared them any spikes in spot LNG and benchmark natural gas prices this winter heating season.   While global LNG trade has been upended by the Red Sea disruptions to shipping, supply hasn’t…

Read more at: https://oilprice.com/Energy/Natural-Gas/Red-Sea-Chaos-To-Have-Limited-Effect-On-LNG-Prices.html

Chord Energy and Enerplus Agree to $11 Billion Merger

In the latest U.S. oil and gas merger, Chord Energy and Enerplus have agreed to combine in an approximately $11 billion stock and cash transaction, which will create a premier Williston basin-focused exploration and production company.   The combined firm will have a premier position in the Williston Basin in North Dakota and Montana with deep, low-cost inventory, around 1.3 million net acres, combined Q4 23 production of 287,000 barrels of oil equivalent per day (boepd), and enhanced free cash flow generation to return capital to…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chord-Energy-and-Enerplus-Agree-to-11-Billion-Merger.html

EIA Confirms Crude Build, Surprises with Products Draw

Crude oil prices moved slightly higher today, after the Energy Information Administration reported an inventory increase of 3.5 million barrels for the week to February 16. This followed a sizeable build of 12 million barrels for a week that also saw gasoline and middle distillate fuel inventories decline. For the week to February 16, the EIA also reported an estimated gasoline inventory draw of 300,000 barrels, which compared with a decline of 3.7 million barrels for the previous week. Gasoline production averaged 9 million barrels…

Read more at: https://oilprice.com/Energy/Crude-Oil/EIA-Confirms-Crude-Build-Surprises-with-Products-Draw.html

UK Quits Treaty Allowing Oil Firms to Sue Governments Over Climate Policy

The UK will leave the Energy Charter Treaty (ECT), a 1994 pact that allows oil and gas companies to sue governments over their climate policies for compensation for lost profits. The Energy Charter Treaty was originally designed to promote international investment in the energy sector and has historically provided protections for investors in fossil fuels. Efforts to modernize the treaty, which the UK considers “outdated” in view of its net-zero policies and ambitions, have failed, resulting in a stalemate, which prompted the UK government…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UK-Quits-Treaty-Allowing-Oil-Firms-to-Sue-Governments-Over-Climate-Policy.html

Chesapeake’s Production Cut Shakes Up Natural Gas Markets

With US natural gas prices crashing to lows not seen since early Covid in recent days, around $1.60 per million British thermal units, major shale producer Chesapeake Energy announced in a Tuesday earnings report that it would decrease the number of drilling rigs to reduce production this year. As a result, NatGas futures soared.  This followed news from Chesapeake: Chesapeake is currently operating nine rigs (five in the Haynesville and four in the Marcellus) and four frac crews (two in each basin). Given current market dynamics, the company…

Read more at: https://oilprice.com/Energy/Natural-Gas/Chesapeakes-Production-Cut-Shakes-Up-Natural-Gas-Markets.html

Colombia May Struggle to Import Venezuelan Natural Gas in 2024

Colombia’s plan to start importing natural gas from Venezuela this year may not materialize because of a decayed idle pipeline in dire need of repairs, an industry official told Bloomberg. Colombia’s domestic natural gas resources are not enough to meet growing demand, which has risen in recent years due to the El Nino, which has reduced hydropower generation and raised the need for gas-fired power. At the end of 2022, Colombia’s leftist President Gustavo Petro announced that an agreement had been secured to import…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Colombia-May-Struggle-to-Import-Venezuelan-Natural-Gas-in-2024.html

Cheniere Energy Revenues Slump 39% as Natural Gas Prices Drop

Cheniere Energy (NYSE: LNG), the biggest U.S. LNG exporter, reported on Thursday a 39% plunge in its revenues for 2023, dragged down by lower natural gas prices. Cheniere Energy’s revenues fell to $20.4 billion last year from $33.4 billion booked in 2022, primarily due to lower U.S. and international natural gas prices in 2023.    Last year, natural gas prices dropped in the United States amid record-high production, and fell on international markets, too, due to a warmer 2022/2023 winter, high inventory levels in both…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Cheniere-Energy-Revenues-Slump-40-as-Natural-Gas-Prices-Drop.html

India’s Refining Margins Slump as It Struggles to Secure Russian Oil

Refining margins for India’s biggest state-owned refiners have dropped in recent months amid more difficult access to Russian crude and soaring freight rates due to the Red Sea disruption to crude shipments, analysts and traders tell Bloomberg. For most of 2023, Indian refiners enjoyed high refining margins and profits as they imported cheap Russian crude at $20 a barrel and more below international benchmarks.     Margins started eroding last quarter, although they are still higher than before the Russian invasion of…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Indias-Refining-Margins-Slump-as-It-Struggles-to-Secure-Russian-Oil.html

Reddit files to list IPO on NYSE under the ticker RDDT

Reddit’s debut will mark the first major tech initial public offering of the year and the first social media IPO since Pinterest went public in 2019.

Read more at: https://www.cnbc.com/2024/02/22/reddit-files-to-list-ipo-on-nyse-under-the-ticker-rddt.html

AT&T cellular service restored after daylong outage; cause still unknown

A cellular outage Thursday hit thousands of AT&T users in the United States, disrupting calls, text messages and emergency services in major cities.

Read more at: https://www.cnbc.com/2024/02/22/cellular-outages-hit-thousands-in-us-and-att-users-most-affected.html

Nvidia shares pop 16% after AI-fueled bumper earnings

Nvidia chips are used to train the huge AI models such as those developed by Microsoft and Meta.

Read more at: https://www.cnbc.com/2024/02/22/nvidia-shares-pop-12percent-in-premarket-trade-after-ai-fueled-bumper-earnings-.html

Rivian and Lucid shares plunge after weak EV earnings reports

Shares of electric vehicle makers Rivian and Lucid fell Thursday after the companies reported stagnant production in their fourth quarter earnings.

Read more at: https://www.cnbc.com/2024/02/22/rivian-and-lucid-shares-plunge-after-weak-ev-earnings-reports.html

These companies are hiking their dividends – What to know before you buy shares

Close to 70 S&P 500 constituents are expected to announce dividend hikes in February, according to S&P Dow Jones Indices’ Howard Silverblatt.

Read more at: https://www.cnbc.com/2024/02/22/these-companies-are-hiking-their-dividends-what-to-know-before-you-buy-shares.html

Intuitive Machines to attempt first U.S. moon landing in over 50 years

Lunar company Intuitive Machines is going for history on Thursday, attempting what would be the first American lunar landing since the Apollo era.

Read more at: https://www.cnbc.com/2024/02/22/intuitive-machines-lunr-im-1-moon-landing-for-nasa.html

Why ether is outperforming bitcoin by nearly 10% so far this year: 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, Rich Rines of Core DAO reacts bitcoin and ether’s performance so far this year. Plus, he shares his expectations for the bitcoin halving, spot ether ETFs, and more.

Read more at: https://www.cnbc.com/video/2024/02/22/why-ether-outperforming-bitcoin-so-far-this-year-crypto-world.html

Stocks making the biggest moves midday: Nvidia, Rivian, Moderna, Novavax and more

These are the stocks posting the largest moves in midday trading.

Read more at: https://www.cnbc.com/2024/02/22/stocks-making-the-biggest-moves-midday-nvda-rivn-mrna-nvax.html

Biden fundraising ‘dream team’ creates $140 million war chest to take on Donald Trump

President Joe Biden’s fundraising operation is being helmed by a “dream team” that has helped create a massive war chest set to take Donald Trump.

Read more at: https://www.cnbc.com/2024/02/22/biden-creates-anti-trump-war-chest.html

AI and semiconductor stocks surge after Nvidia’s earnings beat

Following Nvidia’s earnings report, share prices of rivals Advanced Micro Devices and SoftBank-backed U.K. chip designer Arm Holdings also made gains.

Read more at: https://www.cnbc.com/2024/02/22/ai-and-semiconductor-stocks-surge-after-nvidias-earnings-beat.html

After student loan forgiveness, the Education Dept. is sending some borrowers refunds. What to know

The Biden administration has forgiven student debt for millions of people. Some borrowers have also received large refunds.

Read more at: https://www.cnbc.com/2024/02/22/what-to-know-education-depts-refunds-to-student-loan-borrowers-.html

‘Who’s going to do that?’: Trump faces hurdles in securing appeal bond for fraud case

Donald Trump plans to fight the massive fine he received in his New York business fraud case. But first, he has to secure a bond — and that might not be easy.

Read more at: https://www.cnbc.com/2024/02/21/trump-faces-obstacles-to-securing-an-appeal-bond-in-fraud-case-.html

Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief

The IRS, with billions of dollars in new funding from Congress, has launched a sweeping crackdown on wealthy individuals, partnerships and large companies.

Read more at: https://www.cnbc.com/2024/02/22/tax-evasion-by-wealthiest-americans-tops-150-billion-a-year-irs.html

Fed Fears “Notable” Financial System Vulnerability As Renowned CRE Investor Tells Team ‘Stop All NYC Underwriting’

Democrat politicians in cities such as New York, often criticized for their disastrous progressive policies, have transformed the metro area into what some believe is a ‘hellhole,’ overrun by violent crime, migrants, homelessness, open-air drug markets, and constant chaos. According to one real estate investor with a commercial real estate portfolio worth billions of dollars, Democrats are quickly transforming NYC’s CRE market into an unattractive option for investment.

On X this week, real estate investor and influencer Grant Gardone said his real estate team at Cardone Capital has “Immediately discontinued ALL underwriting on New York City real estate.”

“The risk outweigh the opportunities at this time. Recent political decisions will continue to deteriorate price and benefit states that don’t have these challenges,” Gardone said.

He told his real estate team to concentrate on “Texas & Florida” markets where the political environment is not hostile, and overall state economies are friendly towards investors.

Dear Cardone Capital team,

Immediately discontinue ALL underwriting on New York City real estate. The risk outweigh the opportunities at this time.

Recent political decisions will continue to deteriorate price and benefit states that don’t have these challenges.

Focus on Texas… pic.twitter.com/nTdJ5d4dO5

— Grant Cardone (@GrantCardone)

Read more at: https://www.zerohedge.com/markets/cre-investor-4bln-portfolio-tells-team-stop-all-nyc-real-estate-underwriting

Groq AI’s LPU: The Breakthrough Answer To ChatGPT’s GPU Woes?

Authored by Savannah Fortis via CoinTelegraph.com,

Groq’s LPU chip emerges as a potential solution to the challenges faced by AI developers relying on GPUs, sparking comparisons with ChatGPT.

The latest artificial intelligence (AI) tool to capture the public’s attention is the Groq LPU Inference Engine, which became an overnight sensation on social media after its public benchmark tests went viral, outperforming the top models by other Big Tech companies.

Groq, not to be confused with Elon Musk’s AI model called Grok, is, in fact, not a model itself but a chip system through which a model can run.

The team behind Groq developed its own “software-defined” AI chip which they called a language processing unit (LPU), d …

Read more at: https://www.zerohedge.com/technology/groq-ais-lpu-breakthrough-answer-chatgpts-gpu-woes

Venezuela Blocks Flights Carrying Deported Migrants From US, Mexico

Venezuela has blocked flights of migrants deported from the United States and Mexico, undermining one of the few policies the Biden administration had recently embraced to deal with record levels of illegal immigration, according to the Wall Street Journal, citing people familiar with the measures.

The ‘almost weekly’ flights from the US to Veneuela were halted in late January according to US officials, marking the longest pause in repatriation since the two countries announced a landmark deal to restart deportations in October – after roughly 1,800 Venezuelans were returned home on 15 flights. As the Journal notes, this is but a fraction of the nearly 500,000 Venezuelans detained at the southern US border over the past two years.

In short, the move gets in the way of the Bide …

Read more at: https://www.zerohedge.com/political/venezuela-blocks-flights-carrying-deported-migrants-us-mexico

VDH: What The Left Has Bequeathed Us?

Authored by Victor Davis Hanson,

The Left has created new rules for national politics.

Here are 20 some precedents they now have established for America in the future:

1) When in control of the Senate, demand the end of the filibuster; when not, don’t.

2) Call for the end of the Electoral College–but only if it appears to recently favor the candidate of the opposition.

3) In an election year, change any state balloting laws deemed unhelpful through administrative fiat or court order to favor your political candidate.

4) Seek to flip electors from voting in accordance with the popular vote count in their states; indict as an insurrectionist any of the opposition who dare do the same.

5) Raid the home of any opposition ex-president who removed classified files; exempt any sitting president of your party who did the same …

Read more at: https://www.zerohedge.com/political/vdh-what-left-has-bequeathed-us

Post Office scandal victims set to be cleared by new law

Legislation to exonerate wrongly convicted sub-postmasters is expected to come into effect in July.

Read more at: https://www.bbc.co.uk/news/business-68369015?at_medium=RSS&at_campaign=KARANGA

HSBC, NatWest and Virgin Money changing interest rates

HSBC, NatWest and Virgin Money are all increasing mortgage rates continuing a frantic start to the year.

Read more at: https://www.bbc.co.uk/news/business-68374500?at_medium=RSS&at_campaign=KARANGA

Lloyds sets aside £450m for car finance probe

An investigation into whether brokers charged people too much interest to buy a motor was recently launched.

Read more at: https://www.bbc.co.uk/news/business-68367430?at_medium=RSS&at_campaign=KARANGA

Tech View: How to read Nifty price, momentum indicators for Friday’s trade

Having breached the recent highs of 22,249, the Nifty is expected to move towards the next upside target of 22,500-22,600 levels in one week. Immediate support is at 22,050, said Nagaraj Shetti of HDFC Securities.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-how-to-read-nifty-price-momentum-indicators-for-fridays-trade/articleshow/107916260.cms

These 26 companies saw over 25% drop in Q3 sales, PAT; are they still worth betting on?

Around 26 companies, with a market capitalisation of over Rs 2,500 crore, reported atleast 25% year-on-year (YoY) fall in both revenue and profits in the last quarter, and a majority of them were part of the chemicals and pesticides sector.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/these-26-companies-saw-over-25-drop-in-q3-sales-pat-are-they-still-worth-betting-on/articleshow/107901863.cms

Technical Stock Pick: Multibagger in 1 year! Why is 100-EMA support important for Mazagon Dock Shipbuilders?

The stock rose from Rs 749 as on 20th February 2023 to Rs 2136 recorded on 20th February 2024 that translates into an upside of 185% in a year.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/technical-stock-pick-multibagger-in-1-year-why-is-100-ema-support-important-for-mazagon-dock-shipbuilders/articleshow/107904159.cms

Dow, S&P 500 surge to record closes in best day of 2024 after Nvidia’s blockbuster earnings

The Dow and S&P 500 logged record highs as another blowout earnings report from Nvidia lifts technology stocks.

Read more at: https://www.marketwatch.com/story/s-p-500-in-line-for-record-as-nvidia-results-see-nasdaq-futures-rocket-350-points-fc8841f6?mod=mw_rss_topstories

American Airlines is making it harder to rack up frequent-flier miles — here’s who will be most affected

American Airlines will soon stop letting customers earn frequent-flier miles when they book trips on third-party travel sites — and the change will hurt some road warriors more than others.

Read more at: https://www.marketwatch.com/story/american-airlines-is-making-it-harder-to-rack-up-frequent-flier-miles-heres-who-will-be-most-affected-fc4ba906?mod=mw_rss_topstories

I have $1.5 million in stocks and bonds. I asked my broker to convert my bonds to cash. He didn’t and my portfolio fell by $100,000. Can I sue?

“I also suggested that the company liquidate some growth stocks and either keep the proceeds in cash or invest it in value stocks.”

Read more at: https://www.marketwatch.com/story/i-have-1-5-million-in-stocks-and-bonds-i-asked-my-broker-to-convert-my-bonds-to-cash-he-didnt-and-my-portfolio-fell-by-100-000-can-i-sue-b3b6dc7b?mod=mw_rss_topstories