The American oil and gas giant Exxon Mobil had one of the worst years in its history. Exxon shares have fallen by 45.36% since the beginning of 2020. The company has lost money for three quarters in a row, and in August they were excluded from the benchmark index of “blue chips” Dow Jones Industrial Average. Soon they were replaced by shares of technology company Salesforce.com.
In addition, the COVID-19 pandemic has created an unprecedented crisis in the energy sector, and governments in many major countries are relying on environmental energy and renewables.
Experts predict that the demand for travel and flights will remain subdued for a long time, which creates high uncertainty in the oil and gas industry. The current crisis is very different from all previous ones, which were usually caused by oversupply or reduced demand.
US giant oil and gas producer Exxon Mobil has reported the largest depreciation of its gas assets of $ 17 billion – $ 20 billion amid falling energy prices this year. Previously, the largest write-off of Exxon’s assets was about $ 3.4 billion in 2016.
The assets of the American shale company XTO Energy, which Exxon bought in 2010 for $ 35 billion, were depreciated. At the time, the decision and the amount of the deal seemed rational, as Exxon received “ready assets” instead of spending years starting its own shale business. At the time, gas price prospects in North America were optimistic as demand grew faster than supply. However, natural gas prices in 2020 fell the biggest obstacles in the last decade.
Shares of Pfizer and BioNTech fell 1.74% and 2% (respectively) on Thursday amid news that companies will deliver half of their planned number of vaccines against COVID-19 in 2020. On November 20, Pfizer and its German partner BioNTech applied to the FDA (US Food and Drug Administration) for permission to use their vaccine in an […]
World debt will reach $ 200 trillion, which is 265% of world product, but the debt crisis is not yet expected. This was reported by Reuters, citing the forecast of analysts of the international rating agency S&P Global. It is claimed that this year the debt-to-world debt ratio has risen by 14% as a result […]
Johnson & Johnson plans to complete the third phase of trials of its single-dose vaccine against COVID-19 in mid-January 2021. Paul Stoffels, vice chairman of the executive committee, senior scientific expert at Johnson & Johnson said they plan to deliver to market 1 billion doses. “We are in the middle of the third phase of […]
The American company Pfizer and the German BioNTech have applied to the European Medicines Agency for registration of their coronavirus vaccine. The announcement was published on the BioNTech website. “On Monday, November 30, Pfizer and BioNTech filed a formal application with the European Medicines Agency for a conditional authorization to use their COVID-19 candidate vaccine […]
The National Bank did not go out this week with interventions on the interbank market, according to the press service of the regulator on Friday, November 27. The Central Bank has been refusing to buy or sell currency for three weeks in a row. At the same time, since the beginning of the year, the […]
Last week, from November 16 to 22, more than 4 million people in the world became infected with the new type of coronavirus, which is a record number since the beginning of the pandemic. This was announced on Tuesday, November 24, the press service of the World Health Organization. According to the WHO, in these […]
With the appearance of an effective vaccine against coronavirus and the subsequent recovery of the world economy, the US dollar may fall by 20%. This was reported by the Financial Times. It is noted that banks, which already had negative forecasts for the dollar next year, deteriorated expectations against the background of the emergence of […]
The Kyiv Electric Car Repair Plant, owned by Ukrzaliznytsia, has entered into an agreement with DB Engineering & Consulting GmbH, a subsidiary of the German state company Deutsche Bahn, for business and management consulting services worth 1.08 million euros. Nashi Groshi reported this with reference to the data in the Prozorro system. It is noted […]Next
Russia’s gas monopoly Gazprom has not booked capacity at annual auctions through Poland and Ukraine. It is noted that the auctions were held on the booking platforms GSA Platform and Regional Booking Platform. The operator of the gas transmission system of Ukraine exhibited additional “solid” capacities of 9.8 million cubic meters m per day for […]Next
According to the BBC, China has launched the world’s first 6G test satellite into space. It should demonstrate how well the experimental technology of the sixth generation network works. The satellite successfully entered orbit along with 12 other spacecraft after launching a rocket from the Taiyuan Cosmodrome in Shanxi Province. It is known that the […]Next
In the first quarter of 2021, Ukraine will pay the debt of 146.1 billion hryvnias, which is 7.25 billion more than the previous forecast. The data on the website of the Ministry of Finance testify to this. At the same time, peak periods of public debt payments are expected in the second and third quarters. […]Next
PJSC “Jacobs Ukraine” (Trostyanets, Sumy region) is going to pay shareholders dividends of 121.87 million hryvnia in the period from 22 August to 23 December 2016. According to the company’s data in the information disclosure system of the National Commission on Securities and Stock Market, the decision has been taken by the general meeting of […]Next
The Supreme Court did not satisfy the cassation appeal of Sberbank of Russia and recognized the Ukrainian state Оschadbank as the legal owner of the Sberbank trademark in the country. “The Supreme Court did not find grounds to satisfy the cassation appeal of Sberbank of Russia and upheld the decision of the Northern Commercial Court […]Next
According to Interfax-Ukraine, Antimonopoly Committee of Ukraine (AMCU) has fined the Dragon Capital Ltd. in the amount of 118,194 thousand UAH by Dragon Capital Ltd. Production concentration more than 50%. According to a law of economic competition defence, the committee permit is obligatory during the economic activity subject concentration with more than 50% of shares […]Next
YouTube video hosting will launch a new platform for creating short videos. This was reported in the official blog of the company. It is reported that the new service Shorts is designed for fans to record short videos on a smartphone, apply music and effects to them and share with your contributors. Beta testing Shorts […]Next
In the next five years, Naftogaz plans to invest $ 7.3 billion in hydrocarbon production, said Otto Waterlander, the group’s chief executive officer, at a presentation of NJSC’s business strategy. “Over the next five years, our business plan assumes that we will invest $ 7.3 billion in mining, upstream, and double that amount over the […]Next
Warren Buffett’s US company – Berkshire Hathaway intends to invest more than $ 570 million in Snowflake, a cloud technology company. It was reported after Snowflake announced a price range for its future initial public offering. The company wants to get the estimate of $ 23.7 billion, writes the Financial Times. Snowflake said that during […]Next
Poland and Denmark have solved problems related to the construction of the Baltic Pipe gas pipeline. The representative of the Polish government on strategic energy infrastructure Petro Naimski announced this on Polish Radio. “An agreement has been reached and work has resumed,” he said. Currently, the laying of 100 km of offshore section of the […]Next
In the case of vaccination of 10 million people at risk, Ukraine can receive a loan of $ 30 million from the World Bank, and the total assistance will be $ 90 million, according to the Ministry of Finance. This financial assistance can be provided under the COVID-19 Emergency Response and Vaccination in Ukraine project […]Next
The European regulator on personal data protection has sent a preliminary order to American Facebook to stop the transfer of data of its users in the United States, according to the Wall Street Journal, citing sources familiar with the situation. “The EU’s privacy regulator has sent a preliminary order to Facebook for suspending the transfer […]Next
Deputy Head of the Office of the President Yulia Svyridenko has joined the Supervisory Board of Naftogaz of Ukraine. This is stated in the Cabinet. She is elected to the council as a representative of the state for a term not exceeding one year. As reported, the Cabinet of Ministers of Ukraine by order №494-r […]Next
The Cabinet of Ministers has introduced a mandatory declaration of an increase in retail prices for gasoline and diesel fuel by more than 1%. Now the price increase must be reported in 20 days. This is stated in Government Resolution №450 of March 29, 2021, which was updated. The list of socially significant goods to […]Next
Volvo dropped several cars from a height of 30 meters for crash tests. According to the automaker, such tests are very important for training rescue services. Volvo lifted the cars to a height of 30 meters with a crane, and then smashed them several times. Such a test allowed to simulate damage to cars at […]Next