PKN Orlen, Poland's largest oil refiner and fuel retailer, said that first quarter profit rose by forty seven percent, as the company raised prices for its finished products, such as gasoline and diesel. Net income at the group in the first three months rose to 66 million zloty ($26 million), or 16 grosze a share, from 45 million zloty, or 11 grosze, a year earlier, according to a statement filed to the Warsaw Stock Exchange. The company was able to pass on to customers the higher prices it paid for crude oil, its main raw material. It also was able to show a higher profit amid a thirty six percent increase in Brent crude in the first quarter because of an accounting method, analysts said. “They are benefiting from rising oil prices and an inventory method that lowers costs,” said Michal Mierzwa, an analyst at Erste Bank in Warsaw. “Last year was very tough,” making this year's earnings look better.
The discovery of the submarine has unveiled a few "inconsistencies." For example, how can one explain the fact that the sub was found where it needed to be searched for from the start?
When on a state visit to Singapore, Russian President Vladimir Putin promised to revisit the discussion of the 1956 Declaration between the USSR and Japan regarding the issue of the peace treaty with Japan
The TurkStream, which runs along the bottom of the Black Sea from Russia's Anapa to Turkey, will consist of two lines, each with a capacity of 15.75 billion cubic meters of gas a year