Chevron has completed an expansion at its Tengiz oil field in Kazakhstan to increase production to around one million barrels a day, nearing 1 percent of global supplies. Despite concerns about declining demand due to electric vehicles, Chevron remains confident in the growth of global oil demand. The $49 billion expansion project, involving partners like ExxonMobil and Lukoil, is crucial for Chevron’s financial performance and Kazakhstan’s government revenue, despite challenges such as hydrogen sulfide gas removal and geopolitical risks.
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Bitcoin, Ethereum, and Dogecoin Soar as "Risk On" Trade Continues
Investors are actively buying risk assets, including growth stocks, tech stocks, and cryptocurrencies, with Bitcoin (BTC) rising 2.9%, Ethereum (ETH) 5.1%, and Dogecoin (DOGE) 6.2% due to positive macroeconomic news, particularly expectations of de-escalation in the U.S.-China trade war. Bitcoin has shown to be a risk asset rather than a hedge, while Ethereum and Dogecoin face uncertainty regarding their long-term value, especially as Ethereum struggles with transaction costs and Dogecoin lacks fundamental use cases. Overall,...
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