The war in Ukraine helped push the global total of people left internally displaced by conflict or natural disasters to a record high of 71.1 million last year, according to a report released Thursday by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre. By the end of 2022, 5.9 million people had been forced to…
War, Natural Disasters Left Record 71 Million People Internally Displaced in 2022, Report Says
Alberta Premier Apologizes for Past Comments on Ukraine-Russia Conflict
Alberta Premier Danielle Smith has apologized for past comments she made on the Ukraine-Russia conflict before she was elected. Smith issued a statement on Oct. 18, reaffirming her condemnation of Russia’s invasion of Ukraine and apologizing for past comments she made. “I categorically condemn the Russian invasion of Ukraine and the indescribable suffering Russia has and…
Two More Grain Ships Sail From Ukraine as Third Port Opens
August 8, 2022
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ISTANBUL—Two more ships, carrying corn and soybeans, departed from Ukrainian Black Sea ports on Monday, Turkey and Ukraine said, taking the total to ten since the first ship sailed last week under a deal with Russia to unblock Ukrainian grain exports. The United Nations and Turkey brokered the agreement last month after warnings the halt…
Shell Boosts Oil and Gas Asset Value as Refining Soars
July 8, 2022
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LONDON—Shell said on Thursday it would reverse up to $4.5 billion in writedowns on oil and gas assets after it raised its energy prices outlook following Russia’s invasion of Ukraine. In an update before second quarter results on July 28, Shell said its refining margins almost tripled over the period, boosted by recovering global demand…
Global Gas Crunch Claims First Australian Trading Casualty
May 25, 2022
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MELBOURNE—A gas seller that supplied 7 percent of the eastern Australian market has collapsed due to soaring global gas prices, the first significant casualty in the country from the global gas supply crisis due to sanctions on Russia for its invasion of Ukraine. The Essential Services Commission on Tuesday suspended private gas retailer Weston Energy…
Stocks Drift, Bond Yields Rise as Markets Wait for the Fed
NEW YORK—Stocks were mixed and bond yields rose Wednesday ahead of a widely expected interest rate increase from the Federal Reserve. Oil prices rose as Europe moved toward banning Russian oil. Crude oil prices rose 3.9 percent after Europe took a step closer to placing an embargo on Russian oil as that country continues its…
US Shale Companies Top Wall Street Estimates, Focus on Returns
May 4, 2022
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U.S. shale producers Devon Energy, Diamondback Energy, and Coterra Energy on Monday reported sharp increases in profit that beat Wall Street estimates, but held production plans steady as they stressed a focus on shareholder returns. U.S. oil and gas producers are facing a windfall from higher energy prices, as Russia’s invasion of Ukraine has stoked…
Indonesia’s Palm Oil Export Ban Leaves Global Buyers With No Plan B
April 26, 2022
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MUMBAI—Global edible oil consumers have no option but to pay top dollar for supplies after Indonesia’s surprise palm oil export ban forced buyers to seek alternatives, already in short supply due to adverse weather and Russia’s invasion of Ukraine. The move by the world’s biggest palm oil producer to ban exports from Thursday will lift…
Rising Energy Prices Push Almost Half German Companies to Cut New Investments: Survey
April 26, 2022
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BERLIN—Around 40 percent of German companies are already feeling the impact of rising energy prices and almost half want to reduce investments due to rising energy costs, a survey showed on Monday. Gas and electricity bills for German householders entering into new contracts hit a record high last month and soaring natural gas and oil…
Ukraine War Has Boosted Demand for Missile Defenses, Lockheed Says
April 20, 2022
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Russia’s attack on Ukraine, including regular barrages of rockets, has boosted demand for Lockheed Martin missile defense systems, the No. 1 U.S. weapons maker said on Tuesday. “We’ve got demand signals for THAAD and PAC-3 from around the world,” Chief Executive Jim Taiclet said after Lockheed reported a drop in quarterly sales and profits. THAAD…
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