PDVSA, the state-owned Venezuelan oil company, would be preparing to migrate more of its payments portfolio to USDT, a dollar stablecoin, to avoid being affected by the restitution of U.S. sanctions. Reuters reported that the company started receiving payments in USDT last year and will accelerate its adoption. Tether, nonetheless, stated it will uphold OFAC […] Source CryptoX Portal
The latest price moves in bitcoin (BTC) and crypto markets in context for April 23, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Rich Dad Poor Dad author Robert Kiyosaki has pointed out “the problem” with gold, silver, and oil, while confirming his ownership of gold, silver mines, and oil wells. Touting bitcoin’s limited supply, the famous author emphasized that no matter how high the price of bitcoin rises, there can only be 21 million coins. “That’s why […] Original
Russian Bitcoin mining firm BitRiver says the country can become a leader in the global industrial crypto just within a few years. According to BitRiver CEO Igor Runets, Russia has enough resources to become a global leader in crypto mining using associated petroleum gas (APG) as other countries such as the U.S., Canada, Kazakhstan and others have also successfully piloted this method of mining, Russian media outlet RBC reports. Runets revealed that BitRiver’s operational data centers powered by APG currently account for at least 50% of the entire mining market…
The transaction is part of SHPGX’s efforts to provide a solid response to the Shanghai municipal government’s requirements to use the digital yuan in cross-border trade. Chinese Central Bank Digital Currency (CBDC) – digital yuan or e-CNY – has been used for the first time to settle a cross-border oil transaction. According to the Shanghai Petroleum and Natural Gas Exchange (SHPGX), the deal was closed by PetroChina International which bought 1 million barrels of crude on October 19. The exact sum of the deal has not been revealed, and the name…
The digital yuan has been used for the first time to settle an oil transaction, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced. PetroChina International bought 1 million barrels of crude on Oct. 19. The transaction was a response to a call by the Shanghai Municipal Party Committee and Municipal Government to apply the Chinese central bank digital currency (CBDC), also referred to as the e-CNY, to international trade, the exchange said. It is “another major step forward” for the digital yuan, according to the state-controlled China Daily. The…
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After the transaction is finalized, Chevron plans to escalate share repurchases by $2.5 billion, reaching the upper limit of its annual guidance range of $20 billion. Chevron Corporation, one of the leading global energy companies, has today announced its agreement to acquire an American oil production firm Hess for $53 billion. The deal is part of a strategic move by the company to strengthen and diversify its already robust portfolio. According to an official announcement on Monday, the company will acquire all outstanding shares of Hess in an in-stock transaction…
The ongoing Israel-Gaza conflict has also played a significant role in the oil market’s turbulence. Oil prices have exhibited a significant level of volatility in the past few days. Following a 2% increase the previous day, oil prices plummeted, owing mostly to the United States’ decision to lift sanctions on OPEC member Venezuela, according to reports. Movement of Global Oil Prices Earlier today, Brent, the benchmark for two-thirds of the world’s oil, was trading 0.57% lower at $90.98 per barrel, and West Texas Intermediate (WTI), the gauge tracking U.S. crude,…
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on Thursday targeting two tanker owners involved in shipping Russian oil that exceeded the established price cap. In a recent development, oil prices saw a remarkable surge, rising by 4% earlier today, following the United States’ decision to intensify sanctions against Russian crude exports. According to reports, International benchmark Brent crude futures, set to expire in December, traded 3.9% higher, reaching $89.34 per barrel, while the front-month November US West Texas Intermediate crude futures rose 4.1%…