Day: June 15, 2020

BP Writes Off Billions as Covid Redraws Rules of Oil Demand

(Bloomberg) — BP Plc will make the biggest write down in a decade on the value of its business, as the British oil major predicts the coronavirus pandemic will hurt long-term demand and accelerate the shift to cleaner energy.

The company sees oil and gas being about 20% to 30% cheaper than before on average, and also expects the cost of carbon emissions to be more than twice as high.

In response, BP is undertaking a review of its projects that could result in some oil discoveries being left in the ground. This risk, of so-called stranded assets, is an

Wholesale prices fall in May: Fuel, power get cheaper by 20%; only this group sees surge in WPI

Amid slow economic activity and low demand, the overall wholesale prices in the month of May saw a steep fall of 3.21 per cent.

As industries and businesses slowed down during the nationwide lockdown, the demand for fuel and power took a major hit, deflating prices by around 20 per cent on-year in May 2020. The prices of crude petroleum and natural gas fell 23.18 per cent in May, compared to March 2020, according to the Ministry of Commerce & Industry. However, the prices for coal and electricity remained unchanged during this period. Amid slow economic activity and low demand,

Samsung has a new Galaxy S20+ and Galaxy Buds+ for the BTS ARMY

The internal specs of both these devices remain the same as their regular counterparts.

Samsung has launched a couple of new limited edition devices meant specifically for K-pop band BTS’ fanbase, or the BTS ARMY, as they like to call themselves. There’s the Galaxy S20+ 5G BTS Edition and Galaxy Buds+ BTS Edition. Both the devices will be available in select markets from July 9. While the Galaxy Buds+ BTS Edition TWS earbuds are already available for pre-order, the Galaxy S20+ 5G BTS Edition can be pre-ordered starting from June 19.

Both the Galaxy S20+ 5G BTS Edition and Galaxy