As a consequence of Moscow’s battle with Ukraine, Exxon Mobil (XOM.N) has committed to exit Russia with its oil and gas operations, which are worth more than $4 billion, and to stop new investment. Exxon will no longer handle massive oil and gas manufacturing services on Sakhalin Island, jeopardising the island’s suggested multibillion-dollar LNG infrastructure. …
BP is abandoning its investment in Russian oil producer Rosneft, representing the most substantial step yet by a Western business in response to Moscow’s invasion of Ukraine. The 19.75 percent investment in Rosneft accounts for over half of BP’s oil and gas reserves and a third of its productivity, and removing it will result in …
BP Quits Russia Incurring A Loss Of $25 Billion Following The Invasion Of Ukraine Read More »
Investors evaluated the longer-term implications of severe Western sanctions against Russia after it launched troops, tanks, and missiles on Ukraine on Friday, following Wall Street’s unexpected overnight turnaround. Even as Russia intensified its attacks on Ukraine and worldwide condemnation rose, European stock markets seemed ready to follow Asia higher, with FTSE futures up 0.78 percent, …
The stock market in the United States, already restless due to a hawkish Federal Reserve and a confrontation between Russia and Ukraine, now faces a new threat: rising oil costs. Crude oil prices in the United States are currently hovering around $91 per barrel, having risen by 40% since December 1 and reaching their highest …
The ancient vice Chairman of Berkshire Hathaway, Charlie Munger is also known as the right hand of Warren Buffet being a straightforward person who has no regrets in saying that he hates crypto currency. The 98-year-old investing icon at the annual meeting for Los Angeles-based newspaper company Daily Journal Corporation while speaking at a question …
According to Charlie Munger, Crypto is like a ‘venereal disease’ and should be banned Read More »
