特朗普这回彻底领教了印度承诺背后所谓的含金量，气得当场拍桌，怒火直冲脑门。2月20日，美国联邦最高法院以6票赞成、3票反对的压倒性裁决，正式 认定特朗普援引《国际紧急经济权力法》（IEEPA）单方面对多个国家加征惩罚性关税的行为，超越了宪法赋予行政权的边界，属于非法行使职权。这一判 决书相当于直接拆掉了特朗普最倚重的关税杠杆，也宣告他过去两年通过关税施压、拉拢、分化构建的全球经贸主导战略彻底崩塌。就在裁决不到48小时 后，莫迪政府便毫不犹豫地展现了底牌——率先选择退出原定的合作轨道。 随着最高法院这一锤定音，特朗普原本精心布局的高关税—低让利—强绑定策略彻底失效，关税大棒瞬间变成废铁。特朗普曾多次通过加税制造压力，再通 过减税释放红利，把贸易谈判变成了政治筹码，而印度则是他重点争取的亚太支点国家之一。然而面对这个失败的局面，特朗普并没有退缩。2月20日当 天，他立即宣布对所有进口商品加征10%的附加关税；次日，他更是将税率上调至15%，并坚称新政策具有充分的法律依据。但现实却毫不留情——截至2 月21日傍晚，已有超过三百家美国企业联合发起诉讼，要求财政部退还因非法关税多缴的税款，涉及的金额总额超过1750亿美 ...

Core Viewpoint - BP is facing challenges due to weak oil trading performance, despite achieving production growth for the second consecutive quarter, indicating a mixed financial outlook as the company attempts to reverse its poor performance [1] Group 1: Production and Trading Performance - The production growth includes contributions from BP's U.S. shale oil and gas business, BPX Energy [1] - Oil trading performance has been weak, while natural gas trading has remained flat [1] Group 2: Strategic Challenges - BP is under pressure to refocus on its oil and gas business to overcome years of lackluster performance [1] - The company's strategic shift announced earlier this year is facing challenges due to increased production from OPEC+, leading to an oversupply in the oil market [1] Group 3: Leadership and Cost Management - New Chairman Albert Manifold emphasized the need to accelerate a cost-cutting and asset divestment plan initiated by CEO Murray O'Kinklos on his first day in office [1] Group 4: Refining and Debt Management - Refining profits have improved this quarter, but were partially offset by environmental compliance costs and unexpected shutdowns at the largest inland refinery in Indiana due to flooding [1] - Net debt is expected to remain stable at around $26 billion, with a target to reduce it to a range of $14 billion to $18 billion by the end of 2027 [1]

Core Insights - Turkey's Energy Minister Alparslan Bayraktar announced the discovery of approximately 57 million barrels of new oil reserves in southeastern regions, with an economic value of around $4 billion [1] - Turkey will begin supplying natural gas from Azerbaijan to Syria via pipeline starting August 2 [1] - Significant progress has been made in onshore oil exploration in the regions of Diyarbakır, Cizre, and Batman, with expectations for further increases in reserve data by the end of the year [1] - The Diyarbakır region may also contain an estimated 4 to 6 million barrels of shale oil and gas [1]

Core Viewpoint - ST New潮 is a striking example in China's A-share market, with its assets primarily located in the U.S., raising questions about its governance and financial practices [3][6]. Group 1: Company Overview - ST New潮 is registered in Yantai, Shandong, but operates its board in Beijing, with 99.91% of its assets located in Texas oil fields, USA [3]. - The company has not distributed dividends to domestic shareholders for 15 consecutive years, while its U.S. subsidiary employees enjoy high salaries, averaging 1.75 million RMB annually [4][11]. Group 2: Financial Background - From 2015 to 2017, ST New潮 raised 12.5 billion RMB through three rounds of financing, investing the entire amount in U.S. oil and gas assets, which now produce over 60,000 barrels daily and are valued at 33.8 billion RMB [6][9]. - The domestic parent company is burdened with 2.4 billion RMB in debt and has frozen accounts, while the U.S. subsidiary reported a net profit of 7.376 billion RMB from 2022 to Q3 2024 [8][9]. Group 3: Governance and Control - Although ST New潮 has no official controlling shareholder, it is effectively controlled by a pair of brothers from Hunan, who have manipulated board positions to maintain control over the U.S. subsidiary [10]. - The company has faced significant challenges in auditing its financials, with previous auditors unable to verify the authenticity of its U.S. assets, leading to a "ST" designation [13]. Group 4: Market Activity and Future Prospects - Despite the looming risk of delisting, major energy companies are still interested in acquiring stakes in ST New潮, driven by the value of its U.S. oil fields [14]. - The company’s assets are located in a region with significant shale oil reserves, but the uncertainty surrounding control raises concerns about the viability of any potential acquisitions [14].