US labor costs rose at the slowest annual pace in the fourth quarter

US labor costs rose at the slowest annual pace in the fourth quarter as wage growth slowed, giving a boost to the Federal Reserve in its fight against inflation. The Labor Department said on Tuesday that the hiring cost index, the broadest measure of labor costs, rose 1 percent in the fourth quarter This was … Read more

Six people are being treated for injuries after a fire at an oil refinery

Tall columns of smoke were visible on site during the morning, but the fire was already extinguished by 11 o’clock, according to Södertörn’s fire brigade. In connection with the fire, six people received medical care. – Of these, one person has had to be taken to hospital, five people have been treated on site, says … Read more

Africa can produce 50 million tonnes of green hydrogen per year cost-competitive with oil: report

(Ecofin Agency) – By harnessing its enormous solar potential, the continent could produce green hydrogen at low cost and on a large scale to meet local demand and become a major player in the global decarbonized energy market. Africa has the capacity to produce 50 million tonnes of green hydrogen each year by 2035 at … Read more

Carnegie cuts the price target on several oil shares

– – After a new review, Carnegie analyst Oddvar Bjørgan lowers the price target on Equinor from NOK 480 to NOK 400, the price target on Vår Energi is adjusted down from NOK 55 to NOK 50, while the price target on Aker BP is lowered from NOK 420 to NOK 380. Carnegie repeats the … Read more

Oil drops before Fed – Bloomberg HT

Before the interest rate decisions of the Major Central Banks to be announced this week, the decline in oil prices continues with the effect of Russia’s strong export figures. Brent oil for March delivery was trading at $85.3 a barrel, down 1.4 percent. The barrel price of West Texas Intermediate crude oil in the USA … Read more

Replace Russian and Belarusian wood at IKEA with Vedic and Baltic ali oil

photo of Vladimir Ivanovs (V). IKEA has started using more wood from Vedic and Baltic ali to replace Russian and Belarusian oils. We managed to replace Russian and Belarusian suppliers with other beers in a very tight wood market, Ulf Johansson, the global head of wood supply and manufacturing at Inter IKEA, the owner of … Read more

Announcing the date of oil and gas exploration in Lebanon (update)

Oil and gas exploration work in Lebanon, which witnessed the signing of a new agreement today, Sunday, January 29 (2023), is preparing to start within a few days. The CEO of the French Total Energy company, Patrick Pouyanné, said that his company is keen to start work on offshore block 9 as soon as possible, … Read more

Heating oil prices down on Tuesday (infographic)

HEATING DIESEL DIESEL HEATING 50S (AT THE PUMP) EUR/L 1.1760 (-0.023) DIESEL HEATING 50S (LESS THAN 2000 L) EUR/L 1.0700 (-0.0233) DIESEL HEATING 50S (FROM 2000 L) EUR/L 1.0344 (-0.0234) DIESEL GAS OIL (HEATING APPLICATION) DIESEL (LESS THAN 2000 L) EUR/L 1.1012 (-0.0218) DIESEL (FROM 2000 L) EUR/L 1.0656 (-0.0219) GASOIL DIESEL (APPLICATION AGRICULTURE) DIESEL … Read more

US bond funds receive inflows for the third week in a row

US bond funds received net inflows for the third week in a row, as investors are still hopeful that the Reserve Bank will raise interest rates by about 25 points next week. According to Refinitiv Lipper data, US bond funds received net inflows of $4.89 billion during the week ending last Wednesday, but it was … Read more