Energy News
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The former president of a Texas energy company was sentenced today to six years and six months in prison for his role in an illegal kickback scheme and a commodities insider trading scheme involving natural gas futures contracts. According to court documents, Matthew Clark, 56, of Needville, Texas, conspired with others to direct his employer’s trades to ...
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A former IRS employee was charged in Utah federal court for allegedly trying to steal $2.1 million in tax credits owed to Exxon Mobil by diverting the funds using a taxpayer database he had access to. Prosecutors said Wednesday that former IRS account management worker Rodney Quinn Rupe received a U.S. Treasury check for $2,100,377 in January after ...
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A lot has happened to the economy since COVID struck, and reading the economic tea leaves has become more difficult. Many of the gains for many Australians in 2020 and 2021 were artificial and didn’t last. The COVID Supplement temporarily doubled JobSeeker, for example. JobKeeper paid workers what their employers could not. As these measures have been ...
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Niger said five of its oil workers are being held in Benin, deepening a spat between the two African nations over the export of crude. The Nigerien nationals, who worked for the local affiliate of China National Petroleum Corp., were at Benin’s Sčmč Kpodji port to control the loading of crude for export, the ruling junta known as Council for the ...
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Shares of Saudi Arabia’s Aramco rose on Sunday following a stock sale that’s set to raise the state oil company around $11.2 billion. Shares were trading around 28.85 Saudi riyals ($7.69) on the Tadāwul Saudi stock exchange at 1:40 p.m. local time (6:40 a.m. ET), above the stock sale offer price of 27.25 Saudi riyals. Pricing was at the lower end of the ...
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French President Emanuel Macron said Sunday he was dissolving the National Assembly and calling a snap legislative election after his party suffered a heavy defeat in elections for the European Parliament. In an address to the nation from the Elysee presidential palace, Macron said: “I’ve decided to give you back the choice of our parliamentary future ...
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More than two years into the most aggressive Federal Reserve monetary tightening in four decades, the big surprise is that the world hasn’t fallen over. While US interest rates at ...
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The FOMC meets on Tuesday and Wednesday of the June 10 week. The FOMC statement released at 14:00 ET on Wednesday will get a close read for any guidance in regard to the interest ...
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Tens of millions across the European Union voted Sunday in EU parliamentary elections in a massive exercise of democracy that is expected to shift the bloc to the right and ...
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French President Emanuel Macron said Sunday he was dissolving the National Assembly and calling a snap legislative election after his party suffered a heavy defeat in elections ...
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The crude oil selling resumed on Friday after a two-day respite, although the losses were not as severe as those observed earlier in the week and far less forceful than the drop in metals. This is because a strong jobs report and services PMI data both helped to reduce fears over weakening demand in the US. Still, concerns over China remained and prices ...
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Singapore-based oil and commodities trading powerhouse Trafigura Group has posted the smallest profit since the 2020 oil crisis as volatility in energy markets hit new lows. Trafigura’s net profit dropped to $1.47 billion in the six months through March, good for a 73% decline from a record $5.5 billion posted a year earlier. The company’s revenue fell 5.4% ...