Mikhail Khodorkovsky, the former Yukos oil company chairman who was charged with embezzlement and tax evasion, speaks to the media at his first press conference since his release from a Russian prison two days before on December 22, 2013 in Berlin, Germany
A European court ruled former Russian oil company Yukos’ shareholders are entitled to $50 billion because the Russian government illegally expropriated assets and orchestrated the firm’s demise. Collecting the money, however, will be no easy task. “It is the tribunal’s view that Yukos was the object of a series of politically-motivated attacks by the Russian authorities that eventually led to its destruction,” the ruling said. [Wall Street Journal]
A Stanford research team that includes former Energy Secretary Steven Chu may have found a way to reduce the price of lithium-ion batteries, while increasing their effective range in vehicles to the 300-mile range, which is competitive with many internal combustion gasoline engines. [Cleantechnica]
Net-long natural gas futures positions have declined in recent weeks as mild summer weather and an associated decreased in power plant demand have reduced prices and medium-term demand expectations. “Hedge funds reduced net-long positions, or bets on rising prices, by 11 percent in the week ended July 22, the U.S. Commodity Futures Trading Commission said. Bullish wagers have declined 51 percent since February.” [Bloomberg]
