Oil Prices Pare Gains After Earlier Rise on Saudi News
Oil prices traded broadly unchanged on Thursday after an announcement that Saudi Arabia would suspend some oil shipping in the Red Sea had initially sent prices higher.Brent futures had risen 19 cents to $74.12 a barrel by 1305 GMT, extending their rally into a third day but slipping from a 10-day high in earlier trading.U.S. West Texas Intermediate (WTI) crude futures were down 2 cents at $69.28, hovering around Wednesday's closing level.
Petrobras Seals $1 bln Financing Deal
Brazilian state-controlled oil company Petroleo Brasileiro said on Friday it had secured $1 billion in financing from a banking syndicate headed by Standard Chartered PLC, to which it repaid $500 million of debt ahead of schedule. The syndicate includes China Construciton Bank, ABN AMRO Bank, Industrial and Commercial Bank of China, Banco Latinoamericano de Exportações and Commerzbank.
Vitol Returns for $8 Bln Loan Refinancing
Geneva-headquartered energy and commodities trader Vitol has signed an US$8bn loan refinancing of credit facilities agreed in October 2016, the company announced on Wednesday. The revolving credit facility, which is used for working capital and general corporate purposes, comprises a three-year tranche and a 364-day tranche. The three-year tranche totals over US$7bn.
TGS Shares Fall after Q2 Sales Disappoint
Shares of the world's leading provider of geoscience data to oil companies TGS fell by more than 6 percent on Thursday, after disappointing sales in the second quarter. TGS reported $108 million in quarterly revenues, 6 percent below consensus, and compared with $114 million in the second-quarter a year ago. "Part of the problem was that TGS failed to sell more in Brazil…
Oil Rebounds Output Cut Extension Hopes
Reuters poll shows analysts expect extension of output deal, but despite gain, oil set for second week, month of losses. Oil prices rebounded on Friday after dropping to a one-month low the previous day, prompting investors to buy at cheaper levels ahead of a May OPEC meeting at which producers could extend output cuts. Optimism is rising about the prospect of a year-long production curb deal…
Oil Flattens as IEA Counters Higher U.S. Output
Weekly data shows U.S. production still rising. Oil traded flat on Thursday after weekly data indicated a continued rise in U.S. production, while an International Energy Agency (IEA) report said the market was close to balance. Benchmark Brent crude futures were down 1 cent at $55.85 a barrel at 0907 GMT. The contract was set for an overall weekly gain after touching a one-month high on Wednesday. U.S.
Oil Pares Gains as U.S. Supply Concerns Overshadow OPEC Cuts
Oil pared gains on Tuesday as concerns about rising supply from U.S. shale output overshadowed an OPEC-led effort to cut global output, which has supported oil prices in a higher range. Brent crude was 61 cents higher at $56.20 a barrel by 11:30 Eastern (1530 GMT), after earlier rising to $56.46 a barrel. U.S. light crude was up 45 cents at $53.38. The two benchmarks fell 2 percent on Monday.
Oil Rises as OPEC-led Cuts Trim Supply
OPEC cuts support oil prices above $50 per barrel; rising shale output and trader scepticism cap market. Oil strengthened slightly on Tuesday, supported by an OPEC-led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year. Brent crude was 55 cents higher at $56.14 a barrel by 1220 GMT. U.S. light crude oil was up 45 cents at $53.38.
Oil at 18-month High as Markets Eye Output Cuts
Crude benchmarks hit highest levels since July 2015; OPEC, non-OPEC cut deal took effect on Sunday. Oil prices hit 18-month highs on Tuesday, the first trading day of 2017, buoyed by hopes that a deal between OPEC and other big oil exporters to cut production, which kicked in on Sunday, will drain a global supply glut. Benchmark Brent crude jumped more than 2 percent to a high of $58.37, up $1.55 a barrel and its highest since July 2015.
LPC-Vitol Signs $8bn Loan Refinancing
Geneva-headquartered energy trader Vitol has signed an US$8bn loan refinancing of credit facilities agreed in October 2015, the company announced on Wednesday. The transaction includes a 12-month maturity extension to the company's existing US$7.076bn three-year revolver. The company's existing US$924.2bn 364-day revolving credit facility has also been refinanced…
Glencore Closes Senior Phase of Loan Refinancing
Glencore has successfully closed senior syndication of the refinancing of a one-year revolving credit facility after raising US$8.4bn in commitments from a total of 37 relationship banks, a source close to the deal said. The loan has been scaled back to US$7.7bn ahead of a launch of a wider syndication to a group of around 30 banks scheduled for the second quarter of 2016.
Hofste, Montijn Nominated to Supervisory Board Fugro
Fugro N.V. announces that the Supervisory Board of Fugro nominates Mrs. P.H.M. Hofsté and Mrs. A.H. Montijn for appointment as members of the Supervisory Board at the Annual General Meeting of Shareholders (AGM) to be held on 30 April 2015. Mrs. P. (Petri) H.M. Hofsté (1961) has held senior financial management positions at different organisations. She was a…
Oil Slips Below $86 on Global Oversupply
OPEC ministers due to meet in Vienna on Nov. Brent crude slipped below $86 a barrel on Monday, resuming a downward move that took the global oil benchmark to near a four-year low last week as supply overwhelmed weak demand in several key markets. Abundant global oil supplies, particularly of high quality, light oil, coupled with a gloomy economic outlook from Europe to China pushed Brent last week below $83, its lowest since 2010.
