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Iran Unveils Huge New Gas Discovery Amid US Economic Pressure
Iran Unveils Huge New Gas Discovery Amid US Economic Pressure
Iran announced a huge new gas discovery in the southern province of Fars, with the oil ministry reporting estimates of 7.5 trillion cubic feet of gas, of which 73% is recoverable, or 5.7 trillion cu ft, OilPrice reported.
Iran has the world’s second-largest natural gas reserves, after Russia.
“This amount of gas is equivalent to one block of South Pars, which can supply gas for 15 years,” oil minister Mohsen Paknejad said, as quoted by Iranian media. “This volume of gas has...
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Top Nike Distributor Sounds Profit Alarm As BNP Says China Remains "Red Flag"
Top Nike Distributor Sounds Profit Alarm As BNP Says China Remains "Red Flag"
Nike has reported declining quarterly sales in China, where demand remains under pressure from mounting macroeconomic headwinds, and the brand continues to lose market share to newer competitors. This weakness has dented the shoemaker's broader turnaround efforts and suggests a much-needed reset in the Chinese market.
The stock is down 65% from its 2021 peak and is now trading at 2017 levels, as investors hope management will accelerate a turnaround plan to reverse this devastating multi-year bear market....
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