which had repeatedly protested against such cases saying they should have been considered only in Russian courts.($1 = 0.8794 euros)Reporting by Oksana Kobzeva Vladimir Soldatkin and Vera Eckert; editing by David Evans Our Standards: The Thomson Reuters Trust Principles., opens new tab , opens new tab Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. , opens new tabScreen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. © 2025 Reuters. All rights reserved Reporting by Robert Harvey and Ahmad Ghaddar in London editing by Alex Lawler and Emelia Sithole-Matarise Please select what you would like included for printing: Copy the text below and then paste that into your favorite email application passed away early on the morning of Wednesday April 10 where he lived for the rest of his early life  Heiko remained in Germany with his father he made the decision to relocate to the U.S. though he made frequent trips back to the Grafschaft Bentheim to visit his family there Heiko was a lifelong lover of languages and ultimately completed a PhD in Germanic Linguistics at the University of Texas in Austin  Kate and Heiko relocated to Winston-Salem when Heiko was offered a position as a professor at Wake Forest University in 2005 where he taught until he medically retired in 2023 Heiko loved being a professor and loved passing along his enthusiasm for his native language to his students and was particularly proud of his work teaching Business German  He counted himself lucky to have landed in a department with so many amazing colleagues whom he considered friends German and Dutch with native or near-native fluency Spanish and French at a very high level and studied dozens and dozens of other languages over his lifetime One of Heiko’s proudest life moments was becoming a father to his sons He was incredibly proud of “surviving” twin parenthood and passing along his extensive expertise in languages and literature to them  He loved watching his boys grow up and Heiko worked hard to help them become amazing young people with their own individual skills and talents Just a few things Heiko loved besides his family and his academic life: Music of most any kind— playing both guitar and harmonica he loved writing (though not by hand—his handwriting was atrocious!) having tons of inside jokes with his wife and kids (those keys…)  He found a late-in-life love for dogs  He also made mix tapes that were the stuff of legends— if you were ever the recipient of a Heiko mix even if you are a brilliant linguist with a great life and he was diagnosed with a biliary duct tumor in April of 2022  He had every reason to hope that surgery would remove the tumors and he would continue to live a normal life and he was given a prognosis of a couple of months at best  Heiko fought hard and was doing an amazing job at beating back this cancer he developed a rare reaction to one of the drugs and developed sepsis the family requests that you remember Heiko by donating to a foundation in Heiko's name at Wake Forest University German and Russian Department or to any favorite charity working to make this world a little bit better  A celebration of his life will be held at a later date This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply Service map data © OpenStreetMap contributors Show Breaking News BarCloseBusinessDamian J NEW YORK – Falling crude oil prices and lingering worries about the global economy have been sapping power from energy stocks throughout 2023 which includes oil and oilfield exploration companies is coming off of two years or rising oil prices and inflation Now the S&P 500 has broken free from the bear market but the energy sector is among the biggest laggards with a 7.4% dip “Given that energy is one of the most cyclical sectors in the market ongoing fears of a slowdown both here and abroad are likely weighing on the price of oil and energy stocks,” said Liz Young Exxon Mobil is down 5% and oilfield services company Halliburton is down 8.4% this year Falling crude oil and natural gas prices have been among the biggest drags on the sector Prices have been falling as economic growth slows and that could remain the trend this year Energy Information Administration expects weaker energy consumption in 2023 and 2024 That could mean energy companies will continue to struggle with earnings over the next few quarters Analysts polled by FactSet expect profits to slip by nearly 50% for the sector in the second quarter followed by a 34% drop in the third quarter and a 27% drop in the fourth quarter when some of the biggest names in the sector notched record profits amid rising oil and natural gas prices Exxon Mobil reported $55 billion in profit in 2022 The company recently warned investors that lower gas prices and weaker demand could pinch margins and profits by billions of dollars Shell has also warned Wall Street about weakened profits during the most recent quarter Energy companies are expected to notch the biggest profit declines within the S&P 500 The broader S&P 500 is expected to pull out of its profit slump in the latter half of the year The weak energy market has been bad for investors Lower crude oil prices have eased pressure on inflation normally an unavoidable expense for most people The impact from lower gasoline prices goes beyond simply relieving pressure on inflation and could be a bulwark against a recession and benefit economic growth “In a time when we worry about the ability of consumer spending to drive growth the less consumers have to spend on energy the more they can spend on other things,” Young said rewritten or redistributed without permission TV Listings Email Newsletters RSS Feeds Closed Captioning / Audio Description Contact Us Careers at WPLG Terms of Use Privacy Policy Public File FCC Applications EEO Report Do Not Sell My Info 1.0 Host Exhibit Copyright © 2025 Local10.com is published by WPLG INC. WASHINGTON (TND) — The national price of gasoline dropped for a second consecutive week just in time for a holiday weekend where many Americans will hit the road to travel for vacation and July 4 celebrations The average price for a gallon of gas is $4.86, according to AAA down 9 cents from a week ago but still $1.70 higher than last year The main driver of the decrease at the pump has been a drop in crude oil prices which make up roughly 60% of the cost of fuel Some analysts attribute the drop in crude oil to fears of recessions in the world’s economies due to rising interest rates and inflation “Fear is not a good reason to move a market like the one for oil but it is a powerful motivator,” said Andrew Gross “The cost of oil accounts for nearly $3 for every $4.89 at the gas pump Consumers should find more relief when fueling up if oil prices drop further.” Russia’s invasion of Ukraine and the sanctions from the U.S and its allies that followed put a squeeze on the world’s oil supply Fueling up has gotten more expensive around the world ever since though the price of gas was already rising before the invasion Consumers also appear to be adjusting to the increased cost by cutting back on driving “If you're driving a lot and you rely on your car to get to work or whatever that's really eating into your budget and I think people are really starting to make slight tweaks to their lifestyles but a lot of slight tweaks add up,” said Hugh Daigle an associate professor in the Department of Petroleum and Geosystems Engineering at the University of Texas Another sticking point for the oil market has been the cost to refine crude oil into fuel for cars Inflation and other pressures have caused refining oil to be more expensive than average High oil prices start off by making the process more expensive for refineries which is exacerbated by higher costs for parts and equipment and a tight labor market that has increased costs for businesses across the economy Refineries are also running at or near-maximum capacity which creates a squeeze on the supply being sent to consumers and keeps prices high “(Refineries are) trying to put as much product through and get it out to market as they can but it's hard for them to really increase that at this point,” Daigle said It’s unclear if prices will continue to go down into the coming months but there have been some positive signs from producers as they work to ramp up capacity after the coronavirus pandemic dropped the demand for oil to near-zero a government agency that tracks the energy industry expects barrels of crude to average $108 a barrel in the second half of 2022 and drop to $97 in 2023 Even with an economic slowdown as a potential risk in the future oil producers have reason to continue to produce which could help avoid the shock the market is still recovering from Biden has pulled from the Strategic Petroleum Reserve loosened environmental regulations on ethanol and floated the idea of a gas tax holiday in an effort to combat gas prices Some lawmakers have suggested other ideas like stopping domestic exports though industry experts say that would likely backfire and lead to higher prices توّجت زيارة الدولة التي قام بها السلطان هيثم بن طارق، سلطان عُمان، إلى الجزائر يومي 4 و5 مايو 2025، ببيان مشترك، فيما يلي نصّه الكامل: “تلبية لدعوة كريمة من لدن رئيس الجمهورية الجزائرية الديمقراطية الشعبية، السيد عبد المجيد تبون، قام حضرة صاحب الجلالة، السلطان هيثم بن طارق، سلطان عمان، بزيارة دولة إلى الجزائر، يومي 04 و05 ماي 2025، مرفوقا بوفد رفيع المستوى في مستهل الزيارة، رحب السيد الرئيس عبد المجيد تبون بأخيه حضرة صاحب الجلالة،… ثمّن الرئيس الجزائري عبد المجيد تبون والسلطان هيثم بن طارق، سلطان عُمان إنشاء “الصندوق الجزائري… أعلن رئيس الوزراء الروماني، مارسيل سيولاكو، اليوم الإثنين، استقالته، وذلك بعد يوم من الفوز الساحق الذي حققه اليمين المتطرف في الجولة الأولى… تشارك الجزائر في أشغال مؤتمر ومعرض CIM Connect 2025، الذي تحتضنه مدينة مونتريال الكندية، خلال الفترة الممتدة من 4 إلى 7… أجرى الرئيس الجزائري، عبد المجيد تبون، اليوم الاثنين، محادثات على انفراد مع سلطان عُمان، هيثم بن طارق، توسّعت بعدها لتشمل… أعلنت الجزائر، اليوم السبت، عن رفع حصتها من إنتاج النفط الخام بمقدار 9000 برميل يوميًا خلال شهر جوان المقبل، وذلك في إطار اتفاق الدول الثمانية لتحالف “أوبك+” على تنفيذ زيادة جماعية تدريجية في الإنتاج تقدّر… استقبل وزير الريـاضة السعودي، الأمير عبد العزيز بن تركي الفيصل، اليـوم الاثنين، النجم الجزائري ريـاض محرز وتشكيلة الأهلي السعودي بعد التتويج التاريخي… Surging oil prices charged energy stocks through 2022 and could keep supporting the sector despite a looming recession and stubbornly hot inflation squeezing consumers The sector’s 50 per cent gain is a standout in the S&P 500 this year while every other sector has lost ground Big names like Exxon Mobil are up even more It’s a stark contrast to the benchmark index’s 20 per cent slide The sector’s sharp gains were kicked off earlier this year after Russia’s invasion of Ukraine raised worries about the oil supply with inflation already squeezing global economies US crude oil prices are up 13 per cent for the year The United States government expects prices to hit US$95 per barrel next year which could potentially support energy stocks even through a recession Oil prices got another boost this month when the OPEC+ alliance of oil-exporting countries decided to sharply cut production to support prices have also kept companies from ramping up drilling That’s helped maintain a disconnect between still high demand and low supplies “Producers are getting signals to stay disciplined,” said John LaForge head of real asset strategy at Wells Fargo Investment Institute and drilling and completion of wells are built on a 10-year timeframe and producers see it will be structurally different in 10 years.” That long-term view has helped maintain a disconnect between still high demand and low supplies “A recession takes a backseat to the longer-term secular trend of structurally undersupplied oil,” LaForge said Analysts and economists have been warning about a likely recession ahead Meanwhile major companies have raised the alarm about weakening demand heading into 2023 the International Monetary Fund and others have all warned that economies are in for more pain from inflation The US economy contracted in the first half of the year and consumer confidence and spending are slipping Inflation remains extremely hot and the Fed is expected to continue raising interest rates in an effort to tame high prices That’s raised the risk of inducing a recession by slamming the brakes too hard on the economy The severity of any recession will also have an impact on the energy sector A light recession might not change habits too much while a more severe recession could crimp spending on fuel and other essentials View the discussion thread. Strong climate action could wipe $756bn from individuals’ pension funds and other investments in rich countries Individuals in rich countries face huge financial losses if climate action slashes the value of fossil fuel assets despite many oil and gas fields being in other countries The researchers estimated that existing oil and gas projects worth $1.4tn (£1.1tn) would lose their value if the world moved decisively to cut carbon emissions and limit global heating to 2C By tracking many thousands of projects through 1.8m companies to their ultimate owners the team found most of the losses would be borne by individual people through their pensions The analysis also found that financial institutions have $681bn of these potentially worthless assets on their balance sheets more than the estimated $250-500bn of mispriced sub-prime housing assets that triggered the 2007-08 financial crisis The researchers did not predict if or when these fossil fuel “stranded assets” would cause a financial crash but said the size of the number was worrying The US and UK are by far the countries with the biggest potential stranded assets in their financial sectors the study calculated that individuals own 54% of the $1.4tn oil and gas assets at risk – $756bn Three-quarters of these people are in the 38 developed countries in the Organisation for Economic Co-operation and Development (OECD) group Governments and corporate creditors carry the balance But the proportion is much higher in the US and UK where individuals own 86% and 75% of the potentially stranded assets respectively 80% of those assets in China are owned by the government “I did not imagine that individual people would ultimately end up with so much of the risk,” said Semieniuk. “This is particularly relevant for countries like the US and UK, which show up as very major losers. That is where I think the losses really get spread around society.” Read moreThe study, published in the journal Nature Climate Change said the rate of change needed to tackle the climate crisis was “so large that the rapid collapse of fossil fuel industries presents major transition risks” The researchers compared a scenario in which little was done to limit global heating and temperatures rise by 3.5C with a scenario in which substantial action was taken and the global temperature rise was limited to 2C oil and gas projects valued today at $1.4tn cannot continue production and lose their value The team traced this loss from 43,439 oil and gas production assets through a network of 1.8m companies to their ultimate owners They concluded: “Most of the market risk falls on private investors including substantial exposure through pension funds and financial markets.” The countries hit hardest by losses in the financial sector would be the US the tax haven of the British Virgin Islands ($28bn) About 90% of the risk in the UK is due to ownership of oil and gas assets in other parts of the world Companies in the Middle East do not have such high losses in the 2C scenario because some oil and gas will continue to be used and they are the cheapest suppliers Semieniuk said the $681bn of potentially worthless oil and gas assets on the balance sheets of financial institutions was large compared with the sub-prime housing assets that led to the 2007-08 financial crash “One can compare these numbers in the sense that there’s a bunch of mispriced assets floating around if we believe in climate change mitigation,” he said If the transition [to a net zero world] isn’t prudently managed it raises the risk of financial instability.” Mike Coffin, at the financial thinktank Carbon Tracker Initiative, said the new analysis was complementary to CTI’s own research, which recently found oil companies were at risk of wasting $500bn on future projects The study also focused on exploration and production But including other parts of the oil and gas industry such as refineries and equipment suppliers “The overall magnitude of the stranded asset risk within the oil and gas industry is likely to be significantly larger than that quantified in the study.” A pumpjack extracts crude at an oil field in Emlichheim, Germany. © AP Vandana Hari is founder of Vanda Insights, a Singapore-based global energy market intelligence provider. A generic worldview crystallizing in financial and political realms ahead of Donald Trump's return to the White House on Jan. 20 is skewed toward expectations of heightened uncertainty and turmoil. There is palpable anxiety over intensifying trade wars and a resurgence of global economic headwinds. Wintershall Dea's main tasks will include handling claims related to the expropriation of Russian assets the sale of remaining assets and the closure of the headquarters' units in the German cities of Kassel and Hamburg.Some 850 employees work at the headquarters it said."To implement the required restructuring and ultimately the closure of the headquarters in a socially responsible manner the company is currently negotiating a reconciliation of interests and a social plan with the works council," it said.Writing by Miranda Murray Trixie Yap and Laura Sanicola; editing by Barbara Lewis Covers the North American power and natural gas markets. Jefferies analyst Mark Wilson said.Upon completion of the deal will own 46.5% of Harbour and will be entitled to nominate two non-executive directors to Harbour's board as part of the deal.That stake could come down to 39.6% if LetterOne the investment firm partially owned by Russian billionaire Mikhail Fridman should convert around 251.5 million non-voting shares in Harbour into ordinary stock.In that case LetterOne would become a 14.9% shareholder of Harbour.BASF will gradually exit the oil and gas business over time its CFO Dirk Elvermann said in a statement The German chemicals giant also said it was continuing preparing the sale of its 50.02% stake in WIGA Transport Beteiligungs-GmbH & Co KG a joint venture with state-owned Sefe.Harbour meantime will take on $4.9 billion of existing euro-denominated Wintershall Dea bonds and will pay an additional $2.15 billion from Wintershall's cash flow it said.The combined group will have production of over 500,000 barrels of oil equivalent per day (boed) Harbour expects to produce around 190,000 boed in 2023.Reporting by Ron Bousso Vera Eckert and Yadarisa Shabong; Additional reporting by Christoph Steitz; Editing by Pooja Desai Reporting by Gursimran Kaur in Bengaluru and Emma-Victoria Farr in Frankfurt; editing by David Evans and Jonathan Oatis because he is subject to Western sanctions.Mehren has said his firm is looking into ways to recover at least some of the damages incurred including arbitration and legal claims.Reporting by Vera Eckert Цей веб-сайт зберігає файли cookie на вашому комп'ютері Threshold emission values ​​for dust are far below the established norms the BEKW (Bioenergiekraftwerk Emsland) thermal power plant uses 60,000 metric tons of straw per year to generate 10.2 MW of electricity and 49.8 MW of heat The facility has a record primary energy efficiency of approximately 90% reports the "Bioenergy Association of Ukraine" on Facebook The power plant provides heat to the enterprise The announcement noted that the BEKW thermal power plant is the first in Germany to use 70,000 tons of straw from surrounding farms as fuel "The cycle of burning straw in Emlichheim does not end with the production of heat also produces electricity," bioenergetics emphasized They also said that the power plant is equipped with about 6,000 measuring points One important indicator is that the emission thresholds for dust are between 0.1 and 0.6 milligrams per standard cubic meter Earlier, EcoPolitic wrote, that Germany as part of the pilot register of guarantees of origin for green centralized heating issued 1500 first certificates (HKN) in Hamburg As EcoPolitic previously reported, economic consultant Vadym Novikov said that for Ukraine replacement of natural gas with biomass waste is the easiest and cheapest way to get rid of dependence on Russian gas even purchased through intermediaries from the EU About 70% of the required investment was provided by banks Their formation was initiated by ecologists Visitors can book an excursion to learn more about the primroses and nature of Transcarpathia The action "Chestnuts for the Armed Forces" was launched in Rivne region and Zhytomyr region The use of materials posted on the EcoPolicy media platform is permitted only if the link to the EcoPolicy is provided and for online publications - the placement of a direct hyperlink to the page where the original material is posted The editors may not share the point of view stated in the author's material The advertiser is responsible for the accuracy of information published in promotional materials This Premium article is exclusively available for subscribers Obtain insights from exclusive interviews Dive into articles covering trending industry topics Get a glimpse into poultry farms worldwide Already subscribed? 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