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Sources say that Glencore's trading division is part of Rio Tinto's appeal in merger talks.
Two sources familiar with the matter claim that Rio Tinto wants to keep Glencore’s trading division, and would make it a?even stronger platform to sell commodities? if they can strike a deal to create the largest mining company in the world. Rio Tinto announced that it is in the early stages of talks to purchase Glencore.
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OPEC Oil Output Falls in December After Low Supply From Iran, Venezuela
OPEC's oil output fell in December due to lower supply from Iran and Venezuela, which offset an OPEC+ agreement to raise production for the month, a Reuters survey found on Friday.The Organization of the Petroleum Exporting Countries pumped 28.40 million barrels per day last month…
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Wall Street clamors to offer advice on Rio-Glencore and the $100 million prize
Wall Street advisors could earn more than $100,000,000 in fees if Rio Tinto acquires Glencore and creates the world's biggest mining company, worth more than 200 billion dollars. Three people familiar with the matter said that after Rio and Glencore announced on Thursday their intention to merge, they were now racing for a piece of the pie.
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TotalEnergies Snags Exploration Nod Offshore Lebanon
French oil company TotalEnergies TTEF.PA has obtained government approval for a new exploration permit offshore Lebanon, it said on Friday.Total, which owns a 35% operating stake in the permit, will begin 3D seismic surveys on Block 8 with partners Eni ENI.MI (35%) and QatarEnergy…
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Baker Hughes reports that US drillers have cut back on oil and gas drilling for the first time in 3 weeks.
Baker Hughes, a closely watched energy services firm, said that U.S. firms have cut back on the number of oil rigs and natural gas rigs operating for the first time since three weeks. The number of oil and gas drilling rigs, a leading indicator of future production, dropped by two in the week ending January 9 to 544…
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Argentina pays $4.3 Billion to Bondholders and meets critical deadline
A source in the Economy Ministry said that Argentina had paid $4.3 billion on Friday to holders of its sovereign debt. This…
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Commonwealth LNG receives US approval to export non-FTA products for 20 years
Commonwealth LNG, a U.S. company, has been granted a 20-year export license from the Department of Energy for liquefied?gas…
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Trump calls on US oil companies to fix Venezuela's rotting energy industry
Donald Trump, the U.S. president, began a meeting at the White House on Friday to discuss Venezuela. He said he wanted executives…
Latest news
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Exxon CEO: We are ready to assess reentering Venezuela and will send a team within a few weeks.
Exxon Mobil CEO Darren Woods stated?on Friday that the U.S. 'oil major could start from the ground up in Venezuela, and was…
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Trump meets with oil companies in Venezuela
Donald Trump, the U.S. president, began a meeting at the White House with executives of some of the largest oil companies in the world on Friday.
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Trump's "drill baby, drill" agenda in Venezuela hurts producers at the home
Trump wants $50 oil but it's below the profit level of U.S. Venezuelan oil redirected to squeeze U.S. Venezuelan oil to benefit U.S.
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White House oil meeting includes independents and has strong ties to Denver
On Friday, the White House will be inviting oil executives to meet with them in order to discuss possible investment in Venezuela.
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Storm Goretti increases spot electricity prices in Western Europe
The intraday price of power across Western European markets increased on Friday, as Storm Goretti caused power outages and…
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German prompt prices will rise on Monday due to a weaker renewable supply
On Monday, German power prices will rise due to a decrease in renewable electricity production in the country. This is expected…
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Malaysian palm oil set to gain weekly on rival oils with Indonesia levied plan
Malaysian palm oils futures were up for a third session on Friday, and they are expected to rise weekly. This is due to the…
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Sources say that the Embassies of Venezuela are planning visits by American and European oil companies
Two sources said that foreign embassies in Venezuela are arranging visits next week with representatives of American and European oil firms.
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EEX Energy Exchange appoints the clearing house chief as its new CEO
Tobias Paulun, who is currently the head of clearing at the European Energy Exchange, will be its new CEO from August 1, EEX announced on Thursday.
Shale Oil & Gas
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The price of gas in Europe has risen after falling due to warmer weather forecasts
LONDON, January 9 - Dutch wholesale gas prices and British wholesale gasoline prices rose on Friday after falling the day before.
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Sources say that the Embassies of Venezuela are planning visits by American and European oil companies
Two sources said that foreign embassies in Venezuela are arranging visits next week with representatives of American and European oil firms.
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Equinor, a Norwegian company, awards ten-billion-dollar five-year contracts to suppliers
Equinor announced on Thursday that it had signed framework agreements with a group of suppliers worth 100 billion Norwegian…
LNG
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Asia Spot LNG Prices Rise with South Korean Demand
Asian spot liquefied natural gas prices edged up this week as forecasts for colder weather boosted demand in South Korea…
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US Natural Gas Futures Rise Alongside LNG Export Demand
U.S. natural gas futures rose 4% on Tuesday, boosted by record gas flows to liquefied natural gas export plants and forecasts…
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Gazprom Delivers First LNG Cargo to China Post Sanctions
Russian energy giant Gazprom has delivered a liquefied natural gas cargo from Portovaya LNG plant to China, in the first…
Renewables
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Storm Goretti increases spot electricity prices in Western Europe
The intraday price of power across Western European markets increased on Friday, as Storm Goretti caused power outages and…
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German prompt prices will rise on Monday due to a weaker renewable supply
On Monday, German power prices will rise due to a decrease in renewable electricity production in the country. This is expected…
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Malaysian palm oil set to gain weekly on rival oils with Indonesia levied plan
Malaysian palm oils futures were up for a third session on Friday, and they are expected to rise weekly. This is due to the…