PRAGUE—The Czech Republic’s power company signed a deal with U.S. energy giant Westinghouse Electric Co. to supply nuclear fuel for the Dukovany nuclear plant, eliminating the country’s dependence on Russia for such fuel. State-controlled power company CEZ said that Pennsylvania-based Westinghouse will start fuel deliveries to Dukovany next year. Russia’s TVEL, which is part of…
Russia Halts Pipeline Oil Supplies to Poland, PKN Orlen Says
February 25, 2023
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Business & MarketsCompaniescutDruzhbaenergyEuropeGold and CommoditiesInternationalMarketsOilOrlenPKNPolandRussiaRussia-Ukraine WarsupplyWorld
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WARSAW—Russia has halted supplies of oil to Poland via the Druzhba pipeline, the chief executive of Polish refiner PKN Orlen said on Saturday, adding that the company would tap alternative sources to plug the gap. The halt in supplies via the pipeline—which has been exempted from EU sanctions imposed on Russia following its full-scale invasion…
Qatar to Supply Liquefied Natural Gas to Germany From 2026
November 29, 2022
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DOHA, Qatar—Qatar is to supply liquefied natural gas to Germany under a 15-year deal signed Tuesday as the European economic powerhouse scrambles to replace Russian gas supplies that have been cut during the ongoing war in Ukraine. Officials gave no dollar value for the deal, which would begin in 2026. Under the agreement, Qatar would…
Global Liquefied Natural Gas Supplies Are Sold Out Until 2026, Major LNG Importer Warns
November 21, 2022
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Business & MarketseconomyenergyEuropean UnionInternationalliquefied natural gasMarketsRussiasupplyUnited StatesUSWorld
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Japan, the leading importer of liquefied natural gas (LNG), is warning about supplies getting tighter over the coming years due to competitive markets and underinvestment in supply. Long-term LNG contracts prior to 2026 have all been sold out, a survey of Japanese firms by the country’s trade ministry has found. “The LNG procurement environment has…
Volkswagen Says Supply Jams Here to Stay as Earnings Stagnate
BERLIN—Volkswagen said supply chain troubles were the new norm as it reported stagnated earnings in the third quarter, but the carmaker still expects growth in the autos market next year as some bottlenecks look likely to ease. The carmaker lowered its expectations for deliveries this year to be on par with 2021, down from a…
Europe Can’t Count on US Gas to Counter Growing Supply Deficit from Russia Next Year: BloombergNEF
Europe has been able to fill its storage tanks and maintain an adequate capacity for the moment. Disruption of flow from Russia, however, will offset the current supply from the United States and lead to significant inventory deficits in 2023. According to Bloomberg analysis, there are two issues pertaining to U.S. supplies. One is the…
Global Gas Markets to Remain Tight Next Year Amid Supply Squeeze: IEA
LONDON—Global gas markets are expected to remain tight next year as Russian pipeline gas supplies dwindle and gas demand falls in Europe in response to energy saving measures and high prices, the International Energy Agency (IEA) said on Monday. Natural gas markets worldwide have been tightening since 2021 and global gas consumption is expected to…
General Electric Deliveries Still Affected by Supply-Chain Issues
CHICAGO—General Electric Co. is still grappling with supply-chain bottlenecks which have made it tougher to deliver products to customers on time, Chief Financial Officer Carolina Dybeck Happe said on Thursday. All the businesses of the Boston-based industrial conglomerate have been facing challenges in satisfying customer demand due to shortages of parts, labor, and raw materials….
Soaring Inflation Mostly Caused by Stimulus-Fueled Demand: Study
August 24, 2022
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Business & Marketsdemandeconomic policieseconomyFederal Reserveinflationmonetary policyPolicies & ImpactsrecessionsupplyUSUS News
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The pandemic-era inflationary wave that has swelled into a persistent cost-of-living crisis for many Americans was driven mostly by a stimulus-fueled demand surge, though supply-side bottlenecks made the problem worse, a team of economists said in a recent study. Julian di Giovanni, an economist at the Federal Reserve Bank of New York and co-author of…
New Vehicle Supply to Australia Cannot Keep up With Demand
Australia’s peak body for the automotive industry has released new vehicle sales figures for June 2022, which, at 99,974 vehicles sold, show a 9.7 percent decline compared with June 2021. Federal Chamber of Automotive Industries (FCAI) chief executive Tony Weber said in a release on Tuesday that a combination of disrupted manufacturing due to the…
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