Posts

Posted on

Oil Supply From Libya’s Largest Oilfield Suspended

  • Crude oil production from Libya’s largest oilfield, El Sharara, has been suspended after the Hamada valve was closed by an unknown person or persons.
  • More than a quarter of Libya’s total crude output is produced at the Sharara oil field.

Crude oil production from Libya’s largest oilfield, El Sharara, has been suspended after the Hamada valve was closed by an unknown person or persons, according to various media reports, citing two oil engineers. The El Sharara oilfield is responsible for the production of some 300,000 barrels of oil per day at full capacity—or more than a quarter of Libya’s total crude oil output.  The news—which Libya’s NOC or oil ministry has yet to confirm–comes just hours after Libya’s NOC said that it had closed six oil ports due to bad weather. The affected terminals include Brega, Zueitina, Ras Lanuf, Sidra, Zawiya, and Melita.  While the NOC said that the weather conditions created waves that made it impossible to berth and load tankers, the oil ministry of the Tripoli-based GNU said that the weather conditions were not so bad that terminals had to be closed, accusing the NOC of “tampering with the capabilities of the Libyan people.” Libya’s oil production has continued to be unstable for years. In January, Libya’s production declined to 1.008 million bpd, according to OPEC’s secondary sources. Its 2021 average production was 1.148 million bpd. The news of further oil production disruptions in Libya comes at a particularly worrisome time for the oil markets, which are already grappling with scant inventories, booming demand, and an invasion of Ukraine by Russia. Oil prices have responded to those events by climbing to levels not seen in years, with WTI breaching $111 per barrel earlier on Thursday. It also comes at an inopportune time for Libya, which is embroiled in a political crisis that has prevented the African nation from living up to its full potential as relates to oil production. And that crisis is intensifying, with two separate governments—the old and the new—vying for power. NN: Oil comes from the most unstable regions of the world… Now you know what a mistake being supplied by Russia oil and gas really is. The world (HAHAHA) leaders shut down production from reliable places where contracts are honored and the rule of law like the EU, England and the US…. Talk about shooing yourself in the dick or titty… See i am trying to be non sexists…..

Posted on

Potential correlation, low vitamin D and increased risk of infection with SARS-CoV-2,

People with low levels of Vitamin D may be more likely to catch coronavirus and die from COVID-19 infection, study suggests

 

  • Study compared average vitamin D levels in a country with coronavirus mortality
  • Found a link showing low vitamin D levels are associated with a higher death rate
  • Researchers ‘believe they can advise vitamin D supplementation’ to protect against the coronavirus 

A preliminary study has found tentative evidence suggesting low levels of vitamin D may make it more likely an individual will die after contracting coronavirus.  The research compared average levels of vitamin D across 20 European countries with COVID-19 infection rate and mortality. It revealed a convincing correlation where countries with low vitamin D levels were also the countries with highest mortality and COVID-19 infection rates. NN: We have long recommendate that you Vitamin UP. And the fact that vitamin D is a great immune system booster. We were so convinced that we had compounded our special supplement The CoronaVit that had the right combination of ingredients, in the right form to maximize absorption. So all i can say is take your vitamins.

Click here to order Immune System booster Vitamins

 

Posted on

White House Rebuffs Calls for Ban on Russian Oil

The White House ruled out banning imports from Russia despite calls from House Speaker Nancy Pelosi earlier in the day as Russian President Vladimir Putin continues his assault on Ukraine. Ms Pelosi told reporters on Thursday that she would support banning oil imports from Russia when she was asked about rising gas prices and whether she would support drilling for oil on public lands. “I’m all for that. Ban it. Ban the oil coming from Russia,” she told reporters as concerns rise about rising gas prices in response to the crisis in Ukraine. But White House Press Secretary Jen Psaki ruled out such a measure, saying that President Joe Biden’s objective is to maximise pain on Mr Putin’s regime while minimizing the effects of the conflict to Americans. “We don’t have a strategic interest in reducing the global supply of energy,” she said. “And that would raise prices at the gas pump for the American people around the world because it would reduce the supply available. It’s as simple as less supply raises prices.” Ms Pelosi’s words come as Democrats are trying to stave off concerns that the assault on Ukraine would lead to higher gas prices. In his State of the Union address, President Joe Biden mentioned that the Union States would release 30 million barrels from the nation’s strategic petroleum reserves. Ms Pelosi said that the price of gas is directly related to the crisis in Ukraine. “Doesn’t mean it can’t go up and down without a Russian diabolical intervention into a sovereign country but it is related to that,” she said. Ms Pelosi said she heard a parliamentarian from Ukraine saying the country was under assault while people elsewhere are complaining about the price of gas. “Well, we don’t want people to pay a little bit more for the price of gas,” she said. Many Americans were already feeling a pinch at the gas pump beforehand and some have hinted at a gas tax holiday. But Ms Pelosi said it was not clear that would lower prices for consumers. “And that sounds good, but do you know that guarantee that the oil companies pass that reduction onto the consumer and it’s very hard to write a bill that requires them to pass it on to the consumer,” she said. “So I think if we can have a holiday that guarantees that the consumer benefits rather than more profits for the oil companies, that can be a path that we can take,” she said. NN: Russian oil Biden wants to flow free. It American oil he is hell bent on disrupting…….. Go figure!

Posted on

Yacht seized as U.S. ramps up oligarch sanctions so Putin ‘feels the squeeze’

A superyacht owned by a Russian oligarch was seized by French authorities on Thursday as other owners sailed their multi-million pound vessels away from Europe to prevent them being impounded over the invasion of Ukraine. The Amore Vero, which is worth $120m and is owned by Russian oil billionaire Igor Sechin, was moored at a shipyard in the French Riviera, a playground for the super-rich. “French customs carried out the seizure of the yacht Amore Vero in La Ciotat as part of the implementation of sanctions by the European Union against Russia,” the French finance ministry said in a statement. Mr Sechin, a former deputy prime minister who is part of Russian president Vladimir Putin’s inner circle, is chief executive of Russian oil giant Rosneft. On Thursday, Germany seized the Russian billionaire Alisher Usmanov’s 512-foot mega yacht Dilbar, which is valued at $600m, which was moored in Hamburg. Mr Usmanov, a former part-owner of Arsenal Football Club, was placed on an EU sanctions list earlier this week. However, five multi-million pound superyachts were anchored or cruising near the Maldives, an Indian Ocean island which has not extradition treaty with the United States, according to ship tracking data. The Clio superyacht, owned by Oleg Deripaska, the founder of the aluminium giant Rusal, was anchored off the Maldives capital Male on Thursday, according to data from shipping database MarineTraffic seen by i. The US imposed sanctions on Mr Deripaska and other wealthy Russians in 2018 over the alleged Russian interference in the 2016 US presidential election, which Moscow denies. The Titan, owned by Alexander Abramov, a co-founder of steel producer Evraz, arrived in the Maldives on February 28. The Nirvana, the 288ft yacht owned by Vladimir Potanin, Russia’s second richest man, who was valued at $87bn by Bloomberg Millionaire’s Index, was sailing off the west coast of India on Thursday. Meanwhile, Roman Abramovich, the London-based Russian-Israeli billionaire who has announced he is selling Chelsea Football Club, faces the possibility of having his 139m yacht Solaris seized as undergoes a refit in Barcelona. The 74-metre Aurora yacht, owned by Andrey Molchanov, who owns a controlling interest in LSR Group, Russia’s biggest building materials group, is also anchored in the same Spanish port. In 2018, Mr Molchanov was named by the US government in a list of Russian oligarchs but was not sanctioned and has not been targeted in the current round. Neither Mr Abramovich nor Mr Potanin are currently subject to sanctions. A Spanish Transport ministry spokeswoman said: “There is no news about any yachts at present. Spain has proposed to the EU that these superyachts should not be allowed to dock or refuel in any EU ports.” NN: Having had Yachts seized and seized and scuttled its a bitch. A yacht is a hard thing to hide and a easy thing to lose. Like i have been telling now is not the time to be on the upper deck of your yacht drinking champagne from a size 6 Jimmy Chow Spike shoe……

Posted on

Talks end, Ukraine disappointed with results

Ukraine says that a second round of ceasefire talks with Russia did not yield the results Kyiv hoped for, but the sides had discussed humanitarian corridors and agreed to speak again.

Ukraine says that a second round of ceasefire talks with Russia had not yielded the results Kyiv hoped for, but the sides had discussed humanitarian corridors and agreed to speak again. “To our great regret, we did not get the results we were counting on,” Ukrainian presidential adviser Mykhailo Podolyak said. Both sides said they wanted a possible ceasefire for evacuating civilians through humanitarian corridors. Russia’s Foreign Minister Sergey Lavrov had said prior to the Thursday meeting that Moscow was ready for talks to end the fighting in Ukraine but would continue to press its effort to destroy Ukraine’s military infrastructure. The second round of face-to-face discussions took place on the Belarus-Poland border after initial talks on Monday ended without agreement. Ukrainian Foreign Minister Dmytro Kuleba has said while his country was ready for talks to resume, Russia’s demands hadn’t changed and that he wouldn’t accept any ultimatums. Russian officials said Moscow’s demands include Ukraine’s recognition of Russia’s hold on Crimea, independence for the separatist-controlled areas of Donetsk and Luhansk, as well as “de-militarisation” and “de-nazification”. NN: Despite the spin… the truth is Ukraine is losing the war…. its not even close to a fair fight.

Posted on

Oil prices hit multi-year highs as supply tightens

LONDON — Benchmark Brent crude oil prices climbed close to $120 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions.

Support also came from U.S. crude stockpiles at multi-year lows, helping to lift Brent crude futures as high as $119.84 a barrel for the highest level since 2012.

By 1024 GMT the contract was up $2.18, or 1.9%, at $115.11 a barrel.

Brent has jumped by about 37% in the past 30 days and the contract’s six-month spread hit a record high on Thursday at more than $21 a barrel, indicating very tight supplies.

U.S. West Texas Intermediate crude hit a high of $116.57, its loftiest since 2008, before retreating a little to $113.12, up $2.52 or 2.3%.

The gains followed a fresh round of U.S. sanctions that target Russia’s oil refining sector, raising concerns that Russian oil and gas exports could be targeted next.

Russia competes with Saudi Arabia for the title of biggest crude oil and refined oil products exporter, with shipments of more than 7 million barrels per day (bpd), about half of which go to Europe.

While wielding economic sanctions to try to make Russia call off its invasion of Ukraine, Washington has so far stopped short of targeting Russia’s oil and gas exports, weighing the impact on global oil markets and U.S. energy prices.

Still, traders held off Russian oil products anyway. At least 10 tankers failed to find buyers on Wednesday, market sources said. [nL1N2V52IU[

“We expect that Russian oil exports will plunge by 1 million bpd from the indirect impact of sanctions and voluntary actions by companies,” said Rystad Energy CEO Jarand Rystad.

“Oil prices are likely to continue to climb – potentially beyond $130 per barrel.”

Australia’s ANZ raised its short-term target for oil to $125 a barrel.

The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, decided to maintain an increase in output by 400,000 bpd in March despite surging prices, snubbing calls from consumers for bigger increases.

“While some remain transfixed with the idea that an Iran agreement will provide much needed relief (from rising oil prices), we again caution that the deal is still not done and the sums entailed would simply be too small to backfill a major Russian disruption,” RBC Capital analyst Helima Croft said in a note.

The head of the International Atomic Energy Agency (IAEA) will visit Tehran on Saturday, Iranian news agency Nournews reported, suggesting this could help pave the way to a revival of Iran’s 2015 nuclear agreement with major powers.

Meanwhile, U.S. oil inventories continued to decline. Tanks at the key Cushing crude hub in Oklahoma were at their lowest since 2018, while U.S. strategic reserves dropped to their lowest in nearly 20 years.

(Additional reporting by Florence Tan Editing by David Goodman)

Top Stories Newsletter logo

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

<

Posted on

End of Oligarch Era Nears

Roman Abramovich is selling Chelsea Football Club after almost two decades of ownership. The billionaire’s ties to Russia are being scrutinized. He is seeking 3 billion-pounds from the sale of the football club and has said that net proceeds will go to a foundation for Ukraine war victims. The billionaire hasn’t been personally sanctioned by the U.K., but it highlights the global scramble by oligarchs to keep assets from being frozen and seized by international governments after sanctions were announced.

Posted on

Russia now ‘utterly uninvestable’ – Schroders CEO says

LONDON (Reuters) – Russian stocks and bonds are now “in the realms of utterly uninvestable,” the chief executive of Schroders (LON:) Peter Harrison told Reuters on Thursday, as Western sanctions squeeze Russia’s economy after its invasion of Ukraine. Russia’s Ukraine invasion has roiled markets worldwide, sending oil prices rocketing, boosting commodity stocks and triggering a crash in the Russian rouble and share markets as sanctions bite. The invasion will “fundamentally change the nature of Europe for a very long time to come,” Harrison said, adding that the British money manger’s combined holdings of Russia, Ukraine and Belarus-exposed securities amount to less than 0.1% of Schroders’ total assets. Schroders in common with other asset managers has pending sell orders on Russian stocks, Harrison said, with investors currently unable to complete such sales because the Moscow exchange is suspended. Harrison said the situation for foreign investors is likely to deteriorate further in the coming days. “My anticipation would be that sanctions get stronger, and the cumulative impact of running down reserves will be felt ever more acutely, so things that are seemingly difficult now will feel impossible in a week’s time,” he said, referring to Russia’s currency reserves. Harrison’s remarks came as Schroders separately reported a 23% jump in annual profit on Thursday, helped by stronger performance fees and growing client demand at its mutual funds division.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Posted on

Italy Halts Funding For $21 Billion Arctic LNG 2 Project

ARCTIC LNG-2: CONSTRUCTION OF THE WORLD’S LARGEST FLOATABLE REINFORCED CONCRETE PLATFORMS CONTINUES

Italy has halted its share of the financing for the Arctic LNG 2 project, as Western companies and countries continue to sell their stakes in Russian energy projects, even absent of energy-related sanctions. Tankers carrying Russian LNG to Europe have changed course, oil majors such as Shell, BP, and Exxon have pulled out of Russian oil projects at great expense, and now, Italy has suspended its financing for the Arctic LNG 2 project, owned by Russian gas producer Novatek. The project, estimated at $21 billion, is just one of the many projects that is losing foreign backing, even though Russia’s energy exports have thus far been exempt from sanctions. Italy, fearing more sanctions, is now rethinking its loan to the project, which some estimate at $560 million. Italy had only recently decided to help finance the project. The loan for the project had not yet been dispersed. The agreement to finance part of the project, however, remains intact. The latest move highlights just how much of a pariah Russia has become on the world stage after its invasion of Ukraine, and could put a damper on some of Russia’s energy projects. Arctic LNG 2 was destined to be up and running by 2023, reaching full capacity by 2026. Arctic LNG 2 is expected to produce 20 million tonnes of LNG annually. In addition to Russia’s Novatek, Arctic LNG 2 shareholders include TotalEnergies, CNPC, CNOOC, and Japan Arctic LNG. TotalEnergies, with a 10% stake, is one European oil major that has not decided to quit its Russian operations. The Arctic LNG 2 project was already controversial even before Russia’s invasion of Ukraine, with the European Parliament stating that it was concerned about EU members’ support of the project because it was not compatible with climate targets. NN: They are throwing out the baby with the bath water. WHY WHY WHY WHY WHY The stupids are running the show. I followed for years this great Great GREAT project. The Russians achieved great strides in achieving their energy potential. Ten years of development that made them the greatest energy producer in the world has been destroyed by the Ukraine… I have been their its a ever loving shit hole…. Why anyone wold want the place is beyond me…….. Other then some of the most beautiful women in the world, A hottie haven,  it is a nothing burger.. Putin lust for power and stupid people he has surrounded himself with have given bad advise…. As the major energy supplier of the world he got the whole enchilada. What he created with his hand he is now destroying with his foot…… The world will not make the transition to renewables without the bridge of natural gas…… IDIOTS!!

Posted on

US closes higher, Dow gains over 590 pts

Major stock markets in the United States closed higher on Wednesday, with the Ukraine crisis in the center of attention. Investors continued monitoring the situation in Europe and the effect of sanctions on Russia and the global economy. Earlier it was known that senior Chinese officials asked top Russian officials not to invade Ukraine before the Winter Olympics in Beijing. At the same time, the US government targeted Russia’s oil refining and technology in the latest round of sanctions. The Dow Jones gained 1.79% at 4:00 pm ET or 595 points, with Caterpillar Inc up by 5.35%. The Nasdaq 100 added 1.70%, while Micron Technology improved by 8.16%. The S&P 500 rose 1.86%, as EPAM Systems Inc grew by 15.97%. NN: A bottom is in…. this next rally is a shorting opportunity