Tag: commodity

Italy plans 50% windfall tax for energy firms

Italy plans 50% windfall tax for energy firms

Italy plans to impose a one-off windfall tax of 50% on the extraordinary income of its energy companies in 2023.
Chevron receives permit for oil production in Venezuela

Chevron receives permit for oil production in Venezuela

Chevron has been given permission to resume oil production in Venezuela. All exports are expected to go back to the US.
Why is wind energy in Europe in such trouble?

Why is wind energy in Europe in such trouble?

Europe is in an energy crisis and although we are seeing big growth in solar energy, wind energy is not doing so well. Why is that?
Chinese oil giant invests nearly $2 billion in Brazil

Chinese oil giant invests nearly $2 billion in Brazil

China's CNOOC has bought a stake in a production-sharing contract in the huge offshore Buzios oil field in Brazil.
Ghana wants to buy oil with gold instead of the US dollar

Ghana wants to buy oil with gold instead of the US dollar

Ghana is struggling with declining foreign exchange reserves. Will this move reduce the depreciation of the Ghanaian currency?
Belarus wants to increase oil transit fee by 39%

Belarus wants to increase oil transit fee by 39%

Expecting less oil to be transported through its territory, Belarus is demanding an increase in the fee. Ukraine wants to react similarly.
Does Europe have more oil than it needs?

Does Europe have more oil than it needs?

It is possible that we have reached a point where European refineries now have more oil than they need. This is due to fear of shortages.
Are metals ready to extend their rally?

Are metals ready to extend their rally?

Gold, silver, and platinum failed to move higher after significant price increases. These metals are now at a crucial spot.
UK raises windfall tax on energy companies to 35%

UK raises windfall tax on energy companies to 35%

Windfall tax is being introduced in a large number of states. The UK was one of the first and is now increasing its tax.
Germany’s gas reservoirs are 100% full

Germany’s gas reservoirs are 100% full

Germany managed to fill its gas storage tanks to 100% before winter and continues to fill, how is that possible?