Bankruptcy
British shipyard to close
A British shipyard is closing. A&P Tees is a five-acre site in northeast England primarily focused on ship repair with two drydocks and 240 m of jetty frontage. A&P has two other yards in England. […]
Finance
Finance
India’s central bank reveals growth prediction
The Reserve Bank of India has kept the key interest rate unchanged at 6.5%, anticipating robust GDP growth of 7% this year In line with experts’ projections, Reserve Bank of India (RBI) Governor Shaktikanta […]
Finance
Fed Balance Sheet QT: -$1.53 Trillion from Peak, to $7.44 Trillion, Lowest since February 2021. The BTFP Plunged by $34 Billion
Quantitative Tightening has removed 37% of Treasury securities and 27% of MBS that pandemic QE had added. By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance sheet fell by $99 billion in March, to $7.44 […]
Finance
Fed’s Kashkari Says Quiet Part Out Loud: Maybe No Rate Cuts in 2024 if Inflation Continues to Move “Sideways”
By Wolf Richter for WOLF STREET. It was Minneapolis Fed President Neel Kashkari’s job today to say out loud what we’ve said here at WOLF STREET in the comments for a while, and what others have said, and […]
Finance
Just 57 companies linked to 80% of greenhouse gas emissions since 2016
A mere 57 oil, gas, coal and cement producers are directly linked to 80% of the world’s greenhouse gas emissions since the 2016 Paris climate agreement, a study has shown. This powerful cohort of state-controlled […]
Downstream
Aramco Awards Deals Worth $7.7B for Major Gas Plant Expansion
In a statement posted on its website recently, Saudi Aramco announced that it has awarded engineering, procurement, and construction (EPC) contracts worth $7.7 billion for a “major expansion” of the company’s Fadhili Gas Plant in […]
Earnings
Exxon Warns Q1 Profits Will Suffer Due to Lower Oil Prices
Exxon has warned that its first-quarter income figures will be affected by lower oil prices, Reuters has reported, citing a securities filing. Besides lower oil benchmarks, the company also pointed to weaker gas prices and a […]
Big Oil Companies
OPEC+ Short Squeeze
Daily Standup Top Stories Buttigieg rejects critics of EV future: Like people in 2000s saying we could have landlines forever April 3, 2024 Mariel Alumit Transportation Secretary Pete Buttigieg rejected criticism of the Biden administration’s push for America […]
Finance
How the Huge Wave of Immigrants into the US in 2022 and 2023 Impacts the Employment Data of the BLS Household Survey
The BLS uses the Census Bureau’s understated population estimates that ignore the surge of immigrants. But the CBO’s estimates pick them up. We take a look. By Wolf Richter for WOLF STREET. The Congressional Budget Office (CBO) and […]
Finance
Side Effect of US Oil & Gas Boom: Record Ethane Production & Exports
Production, consumption by the US petrochemical industry, and exports all hit records, and the price collapsed. By Wolf Richter for WOLF STREET. US production of ethane – one of the natural-gas liquids that are in the hydrocarbon mix […]