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Futures News on May 14, the latest data from the UAE Fujairah Oil Industry Zone showed that as of the week of May 12, the total inventory of refined oil at the UAE Fujairah Port was 19.735 million barrels, a decrease of 1.007 million barrels from a week ago. Among them, light distillate oil inventories increased by 84,000 barrels to 8.634 million barrels, medium distillate oil inventories increased by 32,000 barrels to 1.762 million barrels, and heavy residual fuel oil inventories decreased by 1.123 million barrels to 9.339 million barrels.On May 14, the "Several Policy Measures to Accelerate the Construction of a Science and Technology Financial System to Support High-level Scientific and Technological Self-reliance" mentioned that the support mechanism for the bond market to serve scientific and technological innovation should be improved. A "science and technology board" should be established in the bond market. High-quality development of bonds for scientific and technological innovation companies should be promoted, and high-quality corporate science and technology innovation bonds should be included in the benchmark market-making products to guide and encourage investors to increase investment in science and technology innovation bonds. Enrich the science and technology innovation bond products in the interbank bond market and improve the financing support mechanism for science and technology innovation bonds. Give full play to the credit enhancement role of credit derivatives, increase support for the issuance of science and technology innovation bonds by science and technology-based enterprises, venture capital institutions and financial institutions, and raise long-term, low-interest, and easy-to-use bond funds for scientific and technological innovation.On May 14, local time, Yemeni Houthi spokesman Yahya Saraiya issued a statement saying that the Houthi armed forces once again launched two missile attacks on Ben Gurion International Airport in central Israel, which was the third attack in the past 24 hours. Earlier on the 14th, the Israeli army said it intercepted a missile launched from Yemen. Air defense alarms sounded in many areas of Israel, and Ben Gurion International Airport suspended aircraft takeoffs and landings.Market news: The European Court of Justice ruled in favor of the New York Times on the "Pfizergate" text messages. Earlier, the New York Times took the European Commission to court on the grounds that the agency failed to publish text messages between its president von der Leyen and Pfizer CEO Albert Bourla.On May 14, the "Several Policy Measures to Accelerate the Construction of a Science and Technology Financial System to Support High-level Scientific and Technological Self-reliance" mentioned that the sources of venture capital funds should be broadened. The scope of the pilot program for equity investment in financial asset investment companies (AICs) will be expanded to provinces where 18 cities are located, and insurance funds will be supported to participate in the pilot program for equity investment in financial asset investment companies. Venture capital institutions and industrial investment institutions will be supported to issue bonds for financing, and direct financing channels will be broadened. Social security funds will be encouraged to carry out equity fund investment within their own business scope and risk prevention and control requirements to support technological innovation. Management mechanisms will be optimized, insurance funds will be supported to participate in venture capital according to market principles, and the pilot program for long-term investment reform of insurance funds will be promoted. Financial management companies and trust companies will be guided to participate in venture capital in accordance with laws and regulations.

TotalEnergies To Restrict Russian Investment

Charlie Brooks

Apr 01, 2022 10:21

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TotalEnergies, the French oil corporation, has criticized the invasion of Ukraine and said that it would refrain from investing in new projects in Russia as a result of this event.


The business, which owns more than 19 percent of Russia's natural gas giant Novatek, made the announcement in response to Vladimir Putin's invasion of Ukraine on Tuesday.


The corporation claims that the conflict is a disaster for Ukrainians and a menace to Europe.


However, although TotalEnergies indicated its intention to halt future investment, it did not go as far as counterparts BP and Shell. Following Russia's invasion of Ukraine last week, which drew harsh penalties from Europe and the US, some businesses have moved to rethink their operations in the nation.


BP and Shell are two of the largest companies that have announced significant moves away from the Russian market.


BP said this weekend that it was selling its interest in state-controlled oil company Rosneft, while Shell announced on Monday that it was exiting joint ventures with global natural gas powerhouse Gazprom.


TotalEnergies' action indicates that it intends to stay in the nation, although in collaboration with the EU and US governments.


The corporation pledged in its statement to support and enforce all measures imposed so far against Russia, "regardless of the impact" these penalties may have on its assets and operations in the nation.

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