40 Companies Join Race for Natural Hydrogen Deposits

The buzz around natural hydrogen – dubbed white or gold hydrogen – is gaining global momentum as a potential gamechanger in the hunt for cost-effective, low-carbon energy sources. Rystad Energy research shows that at the end of last year, 40 companies were searching for natural hydrogen deposits, up from just 10 in 2020. Currently, exploratory efforts are underway in Australia, the US, Spain, France, Albania, Colombia, South Korea and Canada. One of the most promising elements of white hydrogen is its cost advantage over other forms…

Read more at: https://oilprice.com/Energy/Energy-General/40-Companies-Join-Race-for-Natural-Hydrogen-Deposits.html

Nigeria’s Oil Output Closes in on 1.5 Million Bpd

Nigerian oil production, beleaguered by rampant theft and sabotage, hit its highest in more than three years amid a concerted effort to crack down on targeted attacks and organized theft rings. According to OPEC data, the country’s production hit 1.476 million barrels per day (bpd) in February, after hitting a decades-low in the second half of 2022, when it dropped below 1 million bpd. Since then, the government has pursued a more efficient and aggressive policy for cracking down on theft and pipeline sabotage, hiring private security…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Nigerias-Oil-Output-Closes-in-on-15-Million-Bpd.html

Can Tech Keep Up With AI’s Appetite for Energy?

We tend to imagine the internet as something intangible. Data as ones and zeros that float through the cloud. Artificial Intelligence as a sinister savior of an electric pulse. But in reality, the digital age depends on lots and lots of physical infrastructure, from massive cables running alone the ocean floor to warehouse upon warehouse of computer servers. And all that infrastructure requires a massive amount of energy. And as the demand for digital services increases rapidly, so too does the sector’s already prodigious energy consumption…

Read more at: https://oilprice.com/Energy/Energy-General/Can-Tech-Keep-Up-With-AIs-Appetite-for-Energy.html

German Utility Giant Eyes Massive $46 Billion Investment

Europe’s giant utility operator, German E.ON, said on Wednesday it was targeting a massive $46 billion in investment in five years for a grid overhaul and expansion to accommodate renewable energy projects as the company’s profit guidance soars.  Shares in E.ON popped to an almost six-week high on Wednesday following the company’s bullish forecast and its plans to raise its five-year investment target by 27% to modernize Europe’s grid.  Shares were trading up 6.53% at 12:46 p.m. ET on Wednesday, and are up 3.41%…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/German-Utility-Giant-Eyes-Massive-46-Billion-Investment.html

Water Diplomacy Takes Center Stage in Turkmen-Afghan Talks

Amid all the bonhomie on display during last week’s visit to Turkmenistan by a high-level delegation from Taliban-run Afghanistan, one thorny issue was broached. As the Foreign Ministry in Ashgabat revealed in a March 7 statement, bilateral conversations touched on the need for deeper cooperation in the management of water resources. “The Turkmen side noted that the rational use of water resources in the region should be carried out on the basis of generally recognized norms of international law regulating the regime of water use on…

Read more at: https://oilprice.com/Geopolitics/International/Water-Diplomacy-Takes-Center-Stage-in-Turkmen-Afghan-Talks.html

Italy’s Regulated Power Bills Seen Sharply Down Due to Low Gas Prices

Low natural gas prices this winter season will result in significant declines in regulated electricity prices for households in Italy in the second quarter of the year, according to the Italian energy authority ARERA.    The low natural gas prices will be reflected in the March bills and in the power bills in the coming months, Stefano Besseghini, president of ARERA, told Reuters on the sidelines of an industry event in Milan on Wednesday. “We will see the impact on electricity in March, and realistically it will be significant,”…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Italys-Regulated-Power-Bills-Seen-Sharply-Down-Due-to-Low-Gas-Prices.html

Norway’s Ambitious Plan to Store Carbon Dioxide in the North Sea

Norway has big plans to pump waste carbon from oil and gas operations and heavy industry under the seabed of the North Sea to be stored safely underground. It believes this method will be key to decarbonizing its fossil fuel activities in the coming years and supporting a green transition. However, some fear that this process cannot be done safely without risk to the environment. Others believe that carbon capture and storage (CCS) is merely a band-aid on a bullet wound and that countries should be fixing their carbon problem at the source rather…

Read more at: https://oilprice.com/Energy/Energy-General/Norways-Ambitious-Plan-to-Store-Carbon-Dioxide-in-the-North-Sea.html

Kimmeridge Issues New Merger Proposal to SilverBow Resources

Kimmeridge Energy Management proposed on Wednesday a new offer for South Texas oil and gas producer SilverBow Resources as the energy asset manager continues to pursue a deal with SilverBow that could become another in a long list of U.S. oil and gas mergers in recent months. Kimmeridge proposed to combine Kimmeridge Texas Gas (KTG) and SilverBow in a deal that values SilverBow Resources at around $2.1 billion including debt. The KTG assets have an equity value of $1.1 billion and an expected enterprise value of $1.4 billion…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Kimmeridge-Issues-New-Merger-Proposal-to-SilverBow-Resources.html

Japan Looks To Buddy Up to Allies for LNG Supply Post-2030

With Japan looking to steer clear of risky energy tie-ups with neighboring Russia, its allies could help to fill the country’s LNG needs for 2030 and beyond. Since Russia found itself on the wrong end of Western sanctions, Japan has been looking to wind down its exposure to Russian LNG. In December, Japan’s Mitsui and Co decided to pull its employees out of Russia’s Arctic LNG 2 LNG project, and sanctions prompted Novatek to declare a force majeure over LNG supplies from the project. But Mitsui and its JV with Japan’s JOGMEC…

Read more at: https://oilprice.com/Energy/Natural-Gas/Japan-Looks-To-Buddy-Up-to-Allies-for-LNG-Supply-Post-2030.html

Oil Gains Nearly 2% on US Inventory Draw, Fear of Supply Disruptions

Oil prices surged nearly 2% on Wednesday, buoyed by a drop in U.S. crude oil stockpiles and another round of Ukrainian attacks on Russian oil refineries, countering weakening prices earlier this week as demand worries sent traders to the exit.  At 11.44 a.m. ET on Wednesday, Brent crude was trading at $83.40, up 1.81%, while West Texas Intermediate (WTI) was trading at $79.05, up 1.92% on the day.  Despite the jump in prices Wednesday afternoon, Brent crude has not managed to break out of its range, with Reuters noting that…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Gains-Nearly-2-on-US-Inventory-Draw-Fear-of-Supply-Disruptions.html

UK and Texas Sign Trade Pact to Boost Clean Energy Solutions

The UK signed on Wednesday a trade pact with Texas, aimed at boosting investment and trade cooperation in new energy solutions, life sciences, and professional services. The so-called Statement of Mutual Cooperation (SMC) will strengthen trade between the UK and Texas, the UK government said on Wednesday during a visit of Texas Governor Greg Abbott to London. The trade agreement is Britain’s biggest pact with a U.S. state to date, as Texas has the second largest U.S. state economy, with a GDP of $2.4 trillion (£1.9 trillion)…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UK-and-Texas-Sign-Trade-Pact-to-Boost-Clean-Energy-Solutions.html

Oil Steady as EIA Confirms Crude, Gasoline Draws

The Energy Information Administration reported an estimated inventory draw of 1.5 million barrels for the week to March 8. Gasoline stocks also declined while middle distillates inched up. The figures compared with a crude oil inventory build of 1.4 million barrels for the previous week, with substantial declines in both gasoline and middle distillates for that week. A day before the EIA released its report, the American Petroleum Institute reported inventory draws across both crude and fuels, pushing oil prices higher on Tuesday.…

Read more at: https://oilprice.com/Energy/Crude-Oil/Oil-Ticks-Up-as-EIA-Confirms-Crude-Gasoline-Draws.html

Another Sanctioned Russian Tanker Set to Offload Oil Cargo in China

A Russian tanker, sanctioned by the U.S. in the middle of February, has arrived at a Chinese port to discharge Russian crude in the province home to most of China’s independent refiners, Reuters reported on Wednesday, quoting shipping data from Kpler and LSEG. The vessel Krymsk, owned by Russian state tanker company Sovcomflot, docked at the Chinese port Dongying on Wednesday, to offload 700,000 barrels of Russia’s Sokol crude grade, according to the data. Sovcomflot was designated last month by the U.S. Department…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Another-Sanctioned-Russian-Tanker-Set-to-Offload-Oil-Cargo-in-China.html

59% of Investors Concerned About Greenwashing in Financial Industry

A majority of investors that picked their ISA based on sustainability credentials actually have their cash in providers classified as ‘worst’ for their environmental impact, new research has revealed. Analysis from Triodos Bank UK found that investors were failing to understand the sustainability implications of where they put their money. The research found that a majority of people (55 percent) who have a stocks and shares ISA with a provider classified as the worst on sustainability, according to Ethical Consumer rankings, actually…

Read more at: https://oilprice.com/Energy/Energy-General/59-of-Investors-Concerned-About-Greenwashing-in-Financial-Industry.html

Shell Plans to Cut 20% of Jobs in Its M&A Unit

The ongoing job cuts at Shell are extending to the team handling mergers and acquisitions for the supermajor as the oil and gas giant is looking to eliminate around 20% of several hundred positions in the M&A unit, unnamed sources familiar with the plans have told Bloomberg. Shell has been saying for months that it is pursuing a leaner organization and aims to make larger cost savings by reducing headcount. In 2022, Shell employed more than 90,000 people. After job cuts in the low-carbon energy division, Shell has expanded the reductions…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Shell-Plans-to-Cut-20-of-Jobs-in-Its-MA-Unit.html

S&P 500, Nasdaq close lower Wednesday as Nvidia and tech sector falter: Live updates

Wall Street is coming off of a solidly positive day, led by a big jump for Nvidia.

Read more at: https://www.cnbc.com/2024/03/12/stock-market-today-live-updates.html

Palantir CEO says his outspoken pro-Israel views have caused employees to leave company

Palantir CEO Alex Karp said Wednesday that the company has lost employees and expects to lose more over his public support for Israel.

Read more at: https://www.cnbc.com/2024/03/13/palantir-ceo-says-outspoken-pro-israel-views-led-employees-to-leave-.html

House passes bill that could lead to a TikTok ban; fight shifts to the Senate

The House approved a bill that calls for China tech giant ByteDance to divest TikTok or the popular social video app will effectively be banned in the U.S.

Read more at: https://www.cnbc.com/2024/03/13/house-passes-bill-that-could-lead-to-a-tiktok-ban-fight-shifts-to-the-senate.html

EV euphoria is dead. Automakers are scaling back or delaying their electric vehicle plans

Automakers from Ford and GM to Mercedes-Benz, Volkswagen and Aston Martin are scaling back or delaying their electric vehicle plans.

Read more at: https://www.cnbc.com/2024/03/13/ev-euphoria-is-dead-automakers-trumpet-consumer-choice-in-us.html

Elon Musk cancels X partnership with former CNN anchor Don Lemon after interview

Don Lemon said he was informed of the decision to cancel the partnership hours after he taped an interview with Elon Musk for The Don Lemon Show.

Read more at: https://www.cnbc.com/2024/03/13/elon-musk-cancels-x-partnership-with-don-lemon-after-interview.html

Ether dips 0.5% after rollout of network’s biggest tech upgrade in nearly a 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, Tom Schmidt, partner at the crypto VC and research firm Dragonfly, explains how Ethereum’s Dencun upgrade helps with scalability. He also weighs in on what’s moving markets as bitcoin has been surging to new all-time highs.

Read more at: https://www.cnbc.com/video/2024/03/13/ether-dips-following-rollout-ethereum-biggest-tech-upgrade-11-months-cnbc-crypto-world.html

Biden administration investigating Change Healthcare cyberattack as disruptions continue

The Department of Health and Human Services has launched an investigation into UnitedHealth Group following the cyberattack on its Change Healthcare unit.

Read more at: https://www.cnbc.com/2024/03/13/biden-administration-investigating-change-healthcare-cyberattack-as-disruptions-continue.html

Markets don’t seem to care about the presidential election, but that could change soon

The campaign, despite its potential for contentiousness between two polarizing candidates, has drawn little notice from the investing community.

Read more at: https://www.cnbc.com/2024/03/13/markets-dont-seem-to-care-about-the-presidential-election-but-that-could-change-soon.html

Microsoft says new AI security chatbot pricing model lets customers ‘buy what they need’

Microsoft is trying to its ensure that its new security Copilot is price in a way that lets customers experiment with it.

Read more at: https://www.cnbc.com/2024/03/13/microsoft-uses-compute-units-to-charge-customers-for-security-copilot.html

Here’s what Trump’s proposed tariffs could mean for your wallet

Former President Donald Trump has renewed his support for higher tariffs on the campaign trail. Here’s how those taxes could affect Americans consumers.

Read more at: https://www.cnbc.com/2024/03/13/heres-what-trumps-proposed-tariffs-could-mean-for-your-wallet-.html

Chubb CEO defends backing Trump appeal bond in E. Jean Carroll case

Donald Trump has asked a federal appeals court to overturn a massive defamation judgment in favor of writer E. Jean Carroll, who accused him of rape.

Read more at: https://www.cnbc.com/2024/03/13/chubb-ceo-defends-backing-trump-appeal-bond-in-e-jean-carroll-case.html

A look inside the Chinese cyber threat at the biggest ports in US

When it comes to the threat of Chinese surveillance at U.S. ports, the view of the Biden administration and ports management don’t line up.

Read more at: https://www.cnbc.com/2024/03/13/a-look-inside-the-true-nature-of-chinese-cyber-threat-at-us-ports.html

Neil Young announces return to Spotify after Joe Rogan boycott

The singer said his decision to return was in light of Apple and Amazon “serving the same disinformation podcast features” he opposed at Spotify.

Read more at: https://www.cnbc.com/2024/03/13/neil-young-announces-return-to-spotify-after-disinformation-dispute.html

RFK Jr. Reveals Vice President Contenders

Authored by Jeff Louderback via The Epoch Times,

New York Jets quarterback Aaron Rodgers and former Minnesota governor and professional wrestler Jesse Ventura are among the potential running mates for independent presidential candidate Robert F. Kennedy Jr., the New York Times reported on March 12.

Citing “two people familiar with the discussions,” the New York Times wrote that Mr. Kennedy “recently approached” Mr. Rodgers and Mr. Ventura about the vice president’s role, “and both have welcomed the overtures.”

Mr. Kennedy has talked to Mr. Rodgers “pretty continuously” over the last month, according to the story. The candidate has kept in touch with Mr. Ventura since the former governor introduced him at a February voter rally in Tucson, Arizona.

Stefanie Spear, who is the campaign press secretary, told The Epoch Tim …

Read more at: https://www.zerohedge.com/political/rfk-jr-reveals-vice-president-contenders

Attention Obese Americans: You Can Now Order Eli Lilly’s Weight Loss Drug On Amazon

Instead of leaving the comfort of their couch and burning a few hundred calories to visit the doctor’s office to refill Eli Lilly’s new GLP-1 medication, the pharmaceutical giant has teamed up with Amazon to offer obese Americans an online direct-to-consumer ordering service.

According to Reuters, Lilly’s anti-obesity therapy Zepbound will be available on Amazon Pharmacy starting Wednesday. This is the second online pharmacy to partner with LillyDirect and can provide two-day deliveries with Prime membership.

LillyDirect launched in January and aims to make Zepbound easier for patients to access. And why is that? Because this will increase sales and is great for share price and stakeholders. This process eliminates the doctor and local pharmacies.

The marriage of big pharma and Amazon comes as the popularity of Zepbound and other GLP-1 medic …

Read more at: https://www.zerohedge.com/medical/attention-obese-americans-you-can-now-order-eli-lillys-weight-loss-drug-amazon

Hunter Biden Refuses To Testify At Public Hearing

Authored by Tom Ozimek via The Epoch Times (emphasis ours),

President Joe Biden’s son, Hunter Biden, has refused an invitation from Republican lawmakers to appear at a public hearing before Congress, according to his attorney, who cited a scheduling conflict and denounced the hearing as a “carnival side show.”

Hunter Biden (C), son of President Joe Biden, arrives for a closed door deposition before the House Committee on Oversight and Accountability and House Judiciary Committee in the O’Neill House Office Building in Washington on Feb. 28, 2024. (Alex Wong/Getty Images)

Abbe Lowell, Mr. Biden’s attorney, said in a letter to House Oversight and Accountability Committee Chair James Comer (R-Ky.) that his request for Mr. Biden to appear at a March 20 public hearing alongside other witnesses can’t be met because of …

Read more at: https://www.zerohedge.com/political/hunter-biden-refuses-testify-public-hearing

Philly LGBTQ+ “Community Center” Loses $1M In Federal Funds Due To “Sex Party” Allegations

An LGBTQ+ community center in Philadelphia is losing more than $1 million in federal grants after being accused of hosting sex parties, according to 6ABC.

Chris Bartlett, executive director of the William Way Center said: “We’re disappointed, we’re outraged.”

“We provide space for hundreds of groups a year,” he added. One of those parties, as was pointed out by LibsOfTikTok on X, is The Aviary, which 6ABC says ‘hosts kink parties’.

Gil Cnaan, co-founder of The Aviary, offered up this riveting defense: “Almost anything could be a kink. A lot of people are into various forms of spanking.”

“We always have an educational space set up. Then we have an open play space where you can try out a whole bunch of different things,” he continued. “You have benches you can put people over for spanking. You have places where you can tie people up and suspend them, but we also have a room that’s like blanket forts and coloring books.”

“There’s no sex at Aviary. It’s not only against the venue’s rules, but it’s also against my insurance company’s rules, and it’s not the party for that,” Cnaan added.

Read more at: https://www.zerohedge.com/markets/philly-lgbtq-community-center-loses-1m-federal-funds-due-sex-party-allegations

Shoppers splashing out boosts economy in January

The UK economy picked up in January, raising hopes it could be on its way out of recession.

Read more at: https://www.bbc.co.uk/news/business-68550259

UK to ban foreign state ownership of newspapers

It follows concern about a potential takeover of the Daily Telegraph by a group backed by the UAE.

Read more at: https://www.bbc.co.uk/news/uk-politics-68559314

Waitrose customers ‘frustrated’ at voucher delays

Some loyalty scheme members have not received their weekly discounts and say they will shop elsewhere.

Read more at: https://www.bbc.co.uk/news/business-68554407

Looking for investment ideas? MFs favored these 10 stks in Feb

From the midcap category, here are the top 10 stock purchases of mutual fund houses in February. Stocks having a market cap of Rs 10,000 crore to Rs 40,000 crore were considered. (Data Source: Nuvama Alternative & Quantitative Research | ACE MF)

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/swan-energy-voltas-among-top-10-mf-stock-picks-in-february/betting-on-minnows/slideshow/108465586.cms

61% ELSS mutual fund schemes underperformed their benchmark category in three years. Should you worry?

Axis ELSS Tax Saver Fund, the largest scheme in the ELSS category based on assets managed, failed to beat its respective benchmark and category average.

Read more at: https://economictimes.indiatimes.com/mf/analysis/61-elss-mutual-fund-schemes-underperformed-their-benchmark-category-in-three-years-should-you-worry/articleshow/108453824.cms

Tech View: Nifty breaches 20-DEMA, trendline support. What should traders do on Thursday expiry

A decisive move below 21,860 levels (last higher bottom of 29th Feb) could negate Nifty’s bullish setup and that can eventually form a bearish pattern like lower tops and bottoms, Nagaraj Shetti of HDFC Securities said.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-breaches-20-dema-trendline-support-what-should-traders-do-on-thursday-expiry/articleshow/108467483.cms

‘I’m not sure we need 2% inflation’: How investors are absorbing Tuesday’s CPI report

Investors and traders continued to take February’s hotter-than-expected consumer-price index in stride on Wednesday, by signaling a willingness to tolerate above-target inflation while waiting for a few more months of data to roll in.

Read more at: https://www.marketwatch.com/story/im-not-sure-we-need-2-inflation-how-investors-are-absorbing-tuesdays-cpi-report-29f82645?mod=mw_rss_topstories

Dow ekes out third straight day of gains, S&P 500 slips following its 17th record high this year

U.S. stocks finished mixed on Wednesday as investors digested gains from the previous session that had propelled the S&P 500 to its 17th record high of the year.

Read more at: https://www.marketwatch.com/story/s-p-500-futures-virtually-flat-after-17th-record-high-of-the-year-96f43d0c?mod=mw_rss_topstories

Those Trader Joe’s bags selling for as much as $1,000 on eBay will soon be worthless, collectibles experts warn

The canvas totes have gotten plenty of attention through social media, but will the buzz really last?

Read more at: https://www.marketwatch.com/story/those-trader-joes-bags-selling-for-as-much-as-1-000-on-ebay-will-soon-be-worthless-collectibles-experts-warn-936693bc?mod=mw_rss_topstories