The price of Brent crude oil jumped above $90 per barrel in trading on Tuesday after information emerged about Saudi Arabia’s plans to extend its voluntary production cuts until the end of 2023.
The cost of November futures for Brent on the London ICE Futures exchange at 16:35 on Tuesday is $90.5 per barrel, which is $1.5 (1.69%) higher than the price at the close of the previous session.
The price of October futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) has risen by this time by $1.81 (2.12%) to $87.36 per barrel.
Saudi Arabia will continue to voluntarily reduce oil production to 1 million bpd by the end of 2023, the kingdom’s state agency said, citing an official source in the Ministry of Energy.
Before this information was released, Brent was trading at around $88.4 per barrel, WTI at around $85.3 per barrel.
The actual level of oil production in Saudi Arabia is expected to reach 9 million bpd by the end of this year, the report emphasizes. “The voluntary decision to reduce oil production will be reviewed monthly with the possibility of reducing or increasing production,” the statement said.
This reduction is in addition to the 500 thousand bpd production cut announced in April, which will last until the end of 2024.
According to the source of the kingdom’s state agency, these steps are aimed at strengthening the precautionary measures taken by OPEC+ to maintain stability and balance in the oil markets.
The government of Prime Minister Narendra Modi is likely to put to a vote in the Indian parliament a resolution to change the country’s name to the traditional Bharat, Indian media reported on Tuesday.
According to the Times Now newspaper, the vote may take place during a special session of parliament scheduled for September 18-22.
At the same time, The Economic Times writes that, according to Congress Speaker Jairam Ramesh, the invitations to the G20 dinner were signed on behalf of President Bharat, not the President of India.
Many members of Prime Minister Narendra Modi’s ruling Bharatiya Janata Party (BJP) support this initiative to rename India, the newspaper notes.
Doctors at the Leleka Multidisciplinary Medical Center in Kyiv have performed a unique surgery on a pregnant woman with a rare pathology, placental accretion, which poses extremely high risks to the life and health of mother and child.
As the clinic told Interfax-Ukraine, the operation was performed on a patient who was pregnant for the third time, but the pregnancy was complicated and the woman was diagnosed with placenta accreta spectrum at an early stage.
“After the pathology was detected, the doctors the couple consulted assured them that the patient would not be able to bear and give birth to a child. Moreover, even if she succeeded, the uterus would have to be removed. She was also warned about the risks to her life. But they unanimously sent her for an abortion. This is a very rare pathology,” Leleka says.
However, after numerous consultations in various clinics, the patient turned to Leleka, where they took on this complex case, the main risk of which is a large blood loss.
“This is not an ordinary caesarean section. Such a manipulation requires a multidisciplinary approach, several specialists in different fields should work with the woman in labor using the latest technologies and modern equipment. That is why the operation involved a team of three teams of surgeons – obstetricians, gynecologists, urologists and vascular surgeons – who worked according to a clear algorithm. As a result, a complex organ-preserving operation was performed: a corporal cesarean section with placental excision and metroplasty,” the clinic said.
The team of doctors used blood-saving technologies, including an aortic balloon and a modern Cell saver (autohemotransfusion system), which minimized blood loss and reduced the use of donor blood.
“The doctors managed to perform a successful operation. The woman in labor managed to preserve her uterus and, if she wishes, she can become a mother for the fourth time,” the clinic said.
The patient and her newborn daughter are now at home, both healthy and feeling well.
Leleka Multifunctional Medical Center is one of the leading Ukrainian clinics in the field of obstetrics, gynecology, and general surgery. The medical center practices medical protocols approved in Ukraine, the United States and Western Europe. The Leleka Center for Modern Surgery provides surgical gynecology, mammology, vascular surgery (phlebology), proctology and urology, endocrine surgery, plastic, abdominal, bariatric, outpatient surgery, and endoscopy.
In 2019, Leleka was the first in Ukraine to receive JCI accreditation, one of the world’s most prestigious quality standards for medical institutions. The standard is based on the American system of medical accreditation of medical institutions based on the management of patient outcomes.
The JCI International Division accredits hospitals in Asia, Europe, the Middle East, Africa and South America, and now in Ukraine. JCI annually updates its accreditation standards to expand its patient safety goals.
The State Property Fund (SPF) has put up for sale the Zarubinsky distillery in Ternopil region. The starting price is UAH 245.4 million, the press service of the fund reported.
“The company’s main products are ethyl alcohol and denatured alcohol, including bioethanol,” the SPF said.
According to the report, the facility has 58 units of real estate with a total area of 28.8 thousand square meters, which are located on four land plots with a total area of 23.5 hectares. The company’s vehicle fleet includes 27 units. The plant employs 129 people.
The volume of sales of products (works, services) (including exports) for the period 2020 – the first half of 2023 amounted to UAH 909.5 thousand, including exports – UAH 835.5 thousand.
As of June 30, 2023, accounts payable amounted to UAH 374,681 thousand, of which UAH 210,144 thousand is overdue. Staff salary arrears amounted to UAH 732 thousand.
The auction is scheduled to take place in September. The exact date will be announced later.
Quotes of interbank currency market of Ukraine (UAH for 1 pln, in 01.07.2023-31.07.2023)
Source: Open4Business.com.ua and experts.news
Cyprus-based Weplay Media Holding Limited, a member of the Ukrainian Parimatch group, has filed an administrative lawsuit against Ukrainian President Volodymyr Zelenskyy with the Supreme Court as the court of first instance, demanding that the sanctions imposed on the company by his March 10 decree be lifted as unlawful.
According to the court’s ruling of August 10, published in the court register, the court opened the proceedings, involved the Security Service of Ukraine (SBU) and the National Security and Defense Council (NSDC) as third parties, and scheduled the case for consideration by a five-member panel of the Administrative Court of Cassation on September 5.
The case specifies that Weplay Media Holding is associated exclusively with the ownership of intellectual property rights (trademarks, software) and a share in the authorized capital of Pokermatch.ua LLC.
At the same time, this case is not on the list of cases to be considered by the court on September 5.
At the same time, several similar cases challenging the sanctions imposed by presidential decrees are scheduled for September 6. In particular, these are the lawsuits filed by businessman and former MP Vadym Novynskyi (sanctions imposed by a decree of December 1, 2022), Skyrizon President Du Tao (decree of January 29, 2021), former head of Odesa Customs Mykhailo Hribanov (decree of April 21, 2021), Epival Energy LLC (decree of March 25, 2021), and the head of the Shariy Party Olha Bondarenko (decree of August 20, 2021).
Three more similar cases are scheduled to be heard on September 7, and another 10 on September 11.
As reported, President of Ukraine Volodymyr Zelenskyy enacted the decision of the National Security and Defense Council of Ukraine (NSDC) to impose sanctions on 120 individuals and 287 legal entities by a decree of March 10.
The sanctioned betting companies and lotteries include Ukrainian Parimatch LLC, Leo Financial Company, PokerMatchUA, Your Betting Company, and PlayFan Investment.
The new sanctions also affected Parimatch United Investments Limited (UK), Fullgear Investments Ltd, Auspicia Limited (both Cyprus), Suncast Furure N.V. (Curacao, the Netherlands), and Parimatch Foundation Limited (Cyprus).
