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Oil Prices Jump As Russian Oil Supplies Halted To Eastern Europe

August 9, 2022 by www.forbes.com

Share to Twitter Share to Linkedin Topline Ukraine’s suspension of Russian oil to Eastern Europe sent oil prices soaring Tuesday morning, after Russian oil company Transneft announced Ukraine had not received transfer fees for the oil for nearly a week due to Western sanctions, renewing fears of supply shortages. Key Facts Brent Crude Oil shot up 1.13% Tuesday morning, hitting $97.78 per barrel, while West Texas Intermediate increased 1.3%, to $92.06, following the announcement from Transneft , Russia’s pipeline monopoly. Transneft wrote in a statement obtained by Reuters that it had paid a transfer fee to Ukraine, but the money was returned because of European Union sanctions against Russia for its ongoing invasion of Ukraine. Ukraine’s decision to halt Russian oil affects the southern leg of the Druzhba pipeline, which feeds Hungary, Slovakia and the Czech Republic, according to Transneft. Hungary ’s oil reserves now sit … [Read more...] about Oil Prices Jump As Russian Oil Supplies Halted To Eastern Europe

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Norwegian bitcoin miner heads north to escape record power bills

August 9, 2022 by www.theedgemarkets.com

- A + A OSLO/STOCKHOLM (Aug 9): Soaring power prices are forcing a bitcoin miner and data centre operator in southern Norway to head north. Kryptovault AS is moving operations north of the Arctic Circle, where electricity is much cheaper, chief executive officer Kjetil Hove Pettersen said. Staying put would mean doubling a power bill that last year hit 202 million kroner (RM92.7 million) and typically makes up more than 80% of the company's operating expenses, he said. The energy crisis gripping Europe has been exacerbated in southern Norway as a dry spring depleted many giant reservoirs that are vital for local power generation. But it is a different story in the country's north, where there is ample water and it is hard to send flows to other regions. Prices in the most northern price zone where Krytovault will set up shop are a small fraction of those in the south. "The relocation project will of course add other expenses and complications, however, with … [Read more...] about Norwegian bitcoin miner heads north to escape record power bills

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Natural Gas Is The Flexibility Needed For More Wind And Solar

December 31, 2017 by www.forbes.com

Share to Twitter Share to Linkedin Adding flexibility and reliability, more natural gas will be critical to more wind and solar power / ... [+] AFP PHOTO / - / China OUT (Photo credit should read -/AFP/Getty Images) "Shale & renewables: a symbiotic relationship," Citi, here I have already shown here and here how U.S. natural gas power plants continue to increase in efficiency and reduce greenhouse gas emissions, but the high flexibility of these plants will also be increasingly critical in the years ahead. That's because gas is the backup source for more wind and solar power, which are naturally intermittent and need gas peaking plants to compensate for when "the wind doesn't blow" and "the sun doesn't shine." Gas combined cycle plants have a quick "ramp up" ability in a matter of minutes to generate electricity for those unforeseen periods when the wind and/or solar option goes away. As headlined here by MIT Technology … [Read more...] about Natural Gas Is The Flexibility Needed For More Wind And Solar

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Sports Travel—How To Attend The Biggest Sports Events In The World

August 9, 2022 by www.forbes.com

Share to Twitter Share to Linkedin Sports fans are in luck right now, as we are about see a convergence of huge events, many of them held only once every two to four years, along with some entirely new but very high-profile options. Here are some of the biggies and how you can go see them. World Cup 2022 Next up is the world’s No. 1 sports spectacle, the men’s soccer World Cup, a quadrennial tournament like the Summer or Winter Olympic Games. Soccer is the most popular spectator sport in the world, and if you don't go this fall, you won't be able to see it again until 2026. Every World Cup is rare in the sense of the four-year cycle, but this one is even more notable because of a couple of firsts, including the fall dates, so it does not conflict with the busy summer family vacation travel season, and the Middle East location (not without some controversy, a ccording to the New York Times ). As a result, 1.3 million visitors are expected to visit Qatar … [Read more...] about Sports Travel—How To Attend The Biggest Sports Events In The World

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