Share to Twitter Share to Linkedin As Russia’s war in Ukraine intensifies, the Biden administration banned Russian oil and natural gas purchases. This move represents a departure from initial Western sanctions against the Kremlin, designed specifically to avoid interference in Russian energy flows – particularly to import-dependent Europe. Oil prices have skyrocketed since Ukraine was invaded on February 24, with Brent and WTI oil futures trading at around $117 and $114, respectively (down from a 13-year high of $130 earlier this week ), Biden reportedly had deliberated for days before imposing the embargo as higher gasoline prices hurt him and the Democratic party politically. Although the Biden-led initiative to sanction Russian oil sales is rather symbolic, it is still important. The US could produce all oil it needs, and what it can’t, it could import from North America. America has flirted with net-oil exporter status over the past few years … [Read more...] about The US Bans Russian Energy Imports – Symbolically
Merchant discount rate
Share to Twitter Share to Linkedin In the early part of my career, I vividly recall first learning about what was then arguably the most important document that an upstream company produced – the reserve report. Full of pertinent information, the reserve report struck at the heart of an oil and gas company’s economic relevance. The now discontinued, Oil and Gas Financial Journal , once described reserves as “a measurable value of a company’s worth and a basic measure of its life span.” Thus, understanding the fair market value of a company’s Proven Developed Producing (PDP), Proven Developed Non-Producing (PDNP), and Proven Undeveloped (PUD) reserves was key to understanding the fair market value of the company. Investors and analysts looked to the reserve report before reviewing the financials sometimes. Not these days. Consigned to back pages, footnotes, and appendices, the reserve report’s relevance has waned. Current investor presentations of … [Read more...] about Have Reserve Reports Been Relegated To Investor Footnotes?
Share to Twitter Share to Linkedin Supply chains and logistics were thrown into chaos during the pandemic, creating a number of challenges including trade disruptions, port congestion, and soaring freight rates. Brands selling and manufacturing furniture especially felt the strain caused by these delays. Delays and cancellations led to backlogs. Port bottlenecks emerged. But not all retailers were affected in the same way. For furniture brand Castlery , long lead times are one reason supply chain management has always been a priority for the business. “In furniture, where the products are not only bulky but non-standard size, efficient supply chain management is critical to ensure a seamless customer experience in terms of fulfillment and timely deliver,” said Declan Ee, Castlery’s co-founder. The past two years have been challenging for the furniture retail industry, and many manufacturers still haven't caught up with their backlogs. In … [Read more...] about How Furniture Brands And Manufacturers Are Coping With Ongoing Supply Chain Strain
- A + A NEW YORK/BENGALURU (May 16): Wall Street's main indexes fell on Monday, as downbeat data out of China added to worries about a global economic slowdown against the backdrop of aggressive policy tightening by the US Federal Reserve. Chinese and European stock markets fell, while oil slid as data showed China's economic activity cooled sharply in April as Covid-19 lockdowns took a heavy toll on consumption, industrial production and employment. Nine of the 11 major S&P sectors declined in morning trade. Technology and consumer discretionary stocks fell 1.6% and 1.8% respectively. Big growth companies such as Amazon.com, Alphabet Inc, Microsoft Corp, Apple Inc, Tesla Inc and Nvidia Corp slipped between 1.1% and 2.6%. Energy shares outperformed and were up 1.5%. Wall Street closed sharply higher on Friday, but still the S&P 500 and the Nasdaq indexes posted their longest weekly losing streaks in over a decade. "Investors are just a little bit … [Read more...] about Wall Street falls as growth stocks, glum China data weigh