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US forcing Europe to abandon Russian gas supplies – Lavrov

The United States is afraid of fair competition in the energy sector, and is hampering the implementation of the Russian Nord Stream 2 gas pipeline project, according to Russian Foreign Minister Sergey Lavrov. Read more “There is reprisal in the energy sector against North Stream 2. It is the US which is calling it politicized, leading to a split in ...

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PetroChina’s biggest refinery doubles Russian pipeline oil intake

Since the new Russia-China oil supply agreement took effect at the start of the year, PetroChina’s largest refinery has almost doubled the amount of Russian pipeline crude oil that it is processing. Read more A senior industry source with direct knowledge of the volumes told Reuters, the 410,000-bpd PetroChina refinery in the northeast port city Dalian will process 260,000 bpd ...

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Private investors buying electric power stations in Russia to mine cryptocurrency

Two electric power stations in Russia have been sold for the purpose of cryptocurrency mining, the Kommersant newspaper reported, citing sources. It is the first such deal in the country. The two power stations are in Perm Region, on the western slopes of the Middle Ural Mountains, and in the neighboring Republic of Udmurtia. The facilities will be used to ...

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The world’s most expensive oil

When asked about the most expensive oil grade out there, those working in the oil industry are caught blindsided because there’s no easy way to answer this question. The price of crude oil is determined by its physical characteristics (low-density, low-sulphur grade blends generally cost more, but there are several exceptions to this rule), classic supply-demand conditions, distance from main ...

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Maduro urges Latin American states to join oil & gold-backed cryptocurrency project

Venezuela’s leader Nicolas Maduro has invited members of the regional ALBA-TCP bloc to join him in launching a new cryptocurrency. Named petro, the cryptocurrency will be backed by the country’s oil, gas, gold and diamond riches. “I have a proposal for the economic teams of the ALBA: to assume jointly the creation of an oil-backed petro cryptocurrency, which will be ...

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Chinese bitcoin miners consider setting up in energy-rich Canada

The mounting pressure by Chinese authorities on the country’s cryptocurrency industry is forcing mining companies to look for alternatives, and Canada is one of the preferred hot spots. Read more Bitmain Technologies, the operator of some of the largest mining farms in China, is among several companies looking to expand overseas. The company’s spokesman, Nishant Sharma, told Reuters that it ...

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Facebook stock plunges on news feed overhaul

Shares in Facebook dropped by more than 4 percent ahead of Friday’s opening bell after the CEO announced changes to the platform’s centerpiece news feed, which he said would hit user engagement in the near term. The company is planning to change the filter for its news feed to prioritize what friends and family share, while reducing the amount of ...

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Uber used secret program to block office computers and thwart police raids – report

Apart from evading law enforcement and flouting local laws and bans, ride-hailing company Uber allegedly used special technology to remotely lock down equipment in order to protect files from police raids. Read more From spring 2015 until late 2016, the firm’s employees in San Francisco regularly deployed the secret tool to shut off computers in Uber foreign offices to hide ...

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‘Lenin’ farm director registered as 2nd candidate for presidential election

Russia’s Central Election Commission has registered the head of a major agricultural enterprise, businessman Pavel Grudinin, as a candidate in Russia’s upcoming presidential election. Grudinin, 57, became the second presidential hopeful to pass the registration procedure. The Central Elections Committee issued its first registration certificate to the head of the Liberal Democratic Party of Russia, Vladimir Zhirinovsky. The Communist Party ...

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‘No light at the end of the tunnel’ for US-Russia relations – senior Moscow senator

US reports on new anti-Russian sanctions are first and foremost designed to appease lawmakers in Washington, the head of Russia’s upper house Committee for International Relations, Konstantin Kosachev, has stated. “Alas, there is nothing new in this report. The law [on Russian sanctions] has already been adopted, the process has been gaining momentum, and the relations driven into a deadlock ...

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