Tag: Petroleum

Russians vote for Putin

Ms. Cat1 Comment

For charts, see the original post.

Russians vote for Putin

Today Russians are set to head to the polls for their country’s presidential election over three days – with only one expected outcome. Incumbent President Vladimir Putin will win comfortably.  The Russian president is elected by direct popular vote. If no candidate receives over 50% of the vote, then a second round is held between the two most popular candidates three weeks later. It’s the first time that multi-day voting has been used in a Russian presidential election, as well as the first allowing voters to cast ballots online. 

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Russia’s war economy is holding up.  Wages have soared by double digits, the rouble is relatively stable and poverty and unemployment are at record lows. For the country’s lowest earners, salaries over the last three quarters have risen faster than for any other segment of society, clocking an annual growth rate of about 20%. 

The government is spending massively on social support for families, pension increases, mortgage subsidies and compensation for the relatives of those serving in the military.  

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China’s recently discovered Bozhong 26-6 200 million cubic meters of reserves

Ms. Cat

China’s National Offshore Oil Corporation (CNOOC) has announced that its Bozhong 26-6 oilfield has proven reserves of over 200 million cubic meters. Located in the southern waters of the Bohai Sea, if this figure is correct, it could make the oilfield the biggest metamorphic rock oilfield worldwide.

China’s recently discovered Bozhong 26-6 200 million cubic meters of reserves

Guyana to Receive Pyrrhic Profits From ExxonMobil Oil Production

Ms. Cat

The profits received by the Guyanese national treasury are minuscule compared to the enormous profits to be reaped by the US oil company ExxonMobil from the exploitation of crude oil in the Stabroek block, located in waters that have not yet been delimited with Venezuela. Although this fact has caused the historical dispute between both nations to heat up, it is paradoxical that Guyana is the least favored in this equation.

Guyana to Receive Pyrrhic Profits From ExxonMobil Oil Production

A Potentially Huge Supreme Court Case Has a Hidden Conservative Backer

Ms. Cat

The case, to be argued by lawyers linked to the petrochemicals billionaire Charles Koch, could sharply curtail the government’s regulatory authority.

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The Cause of Action Institute has disclosed little of its funding*: A year before it was created, the Supreme Court’s Citizens United ruling had enabled billions of dollars in spending by groups that don’t disclose their donors.

A Potentially Huge Supreme Court Case Has a Hidden Conservative Backer

Guess the author doesn’t know how to ‘Google’! 🙄

Related:

*Cause of Action @ SourceWatch (includes tax filings)

Funding

Cause of Action Institute is not required to disclose its funders but major foundation supporters can be found through their IRS filings. Here are some known contributors:

Atlas Network (PDF updated 11-30-23:

AtlasNetworkRoughDraft.pdfDownload

ExxonMobil foresees profit and expansion surge fueled by Guyana, Permian advancements

Ms. Cat

ExxonMobil foresees profit and expansion surge fueled by Guyana, Permian advancements

With an annual total capital expenditure and exploration expense projection ranging between US$23 billion to US$25 billion, ExxonMobil is set to allocate US$22-$27 billion annually toward project spending until 2027. This includes a commitment to emerging ventures in lithium and low-carbon initiatives, with an 18% increase in spending in these areas.

Emphasizing its dedication to the energy transition, ExxonMobil’s Low Carbon Solutions division is expected to witness an increase in budget from US$17 billion to US$20 billion between 2022 and 2027, contingent upon government support.

The company plans to ramp up annual share buybacks to $20 billion by 2025, an increase from the current US$17.5 billion, following the completion of the Pioneer merger. Additionally, ExxonMobil continues its divestment strategy for refining operations.

Related:

US Strategic Oil Reserve Refill Is Limited Despite Low Prices

Guayana Esequiba: Geo-economics of an Occupation

Ms. Cat

An air of bonanza has raised the projections of the Exxon Mobil corporation, which accumulated around 414 billion dollars in 2022, an unprecedented income in its history, which represents 44.8% more than the previous year. It is a gigantic increase if compared to its crisis in 2020, when its losses put its place in the stock market in jeopardy. Also from the research of that American corporation, it is said that Guyana could become “the country that produces the most barrels of oil per inhabitant in the world, surpassing Kuwait, in that case, when measuring the wealth per capita of its 800 thousand inhabitants, it would become a rich country, since in 2021 its GDP increased by 57.8% and in 2022 by 37.2%”.

Guayana Esequiba: Geo-economics of an Occupation

World Court orders Venezuela to refrain from action in border dispute with Guyana + More

Ms. Cat

World Court orders Venezuela to refrain from action in border dispute with Guyana

Friday’s ruling is the latest development in the larger border dispute. The ICJ said in April it had jurisdiction over the case, but a final ruling could be years away.

Interestingly, Judge Joan Donoghue used to work for the US State Department. 🤔

Related:

Essequibo and Other Border Issues: Venezuela’s Territorial Losses to Imperialist Powers Through the Centuries (Part 1)

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