Novak: OPEC+ does not consider a delay in April's oil supply increase
RIA reported that Russian Deputy Premier Alexander Novak stated on Monday that OPEC+ producers do not plan to delay a series monthly increases in oil supplies scheduled to start in April. Bloomberg News reported Monday, citing delegates that OPEC+ (which groups the Organization of the Petroleum Exporting Countries…
Pemex CEO: Buyers of Mexican crude oil complain about salt and water content
The CEO of the state energy company Pemex, Victor Rodriguez, said that buyers have complained about the water and salt content in Mexico's crude oil over the last month. When asked by a journalist during her morning press conference if some platforms produced crude oil with higher than usual salt and water contents…
EU May Need 350 additional LNG Cargoes
Helge Haugane, head of Equinor's gas and power trading, told Bloomberg News that the European Union could need up to 350 additional cargoes this year of liquefied gas (LNG).Haugane stated that in the worst case scenario, European reserves of gas could only be 30% full at the end winter. He added that…
Bloomberg News reports that Equinor believes EU may require 350 additional LNG cargoes in order to replenish reserves.
Helge Haugane, head of Equinor's gas and power trading, told Bloomberg News that the European Union could need up to 350 additional cargoes this year of liquefied gas (LNG). Haugane stated that in the worst case scenario, European reserves of gas could only be 30% full at the end winter. He added that…
BP shares are at their highest level since August following Elliott's stake increase
In early trading on Monday, shares of oil giant BP rose 7%, reaching their highest level since August, following reports that activist investor Elliott Management acquired a stake in the firm, citing a reliable source. By 823 GMT the shares had risen 7.3% to 464.75pence, their largest daily gain since Febuary 2023. Shell shares dropped by nearly 4% and ExxonMobil rose 8%.
Source: Elliott, an activist, has a stake in BP oil giant.
Activist investor Elliott Investment Management built a stake on oil major BP. A source familiar with this matter said that Saturday. The source didn't specify the amount at stake. Bloomberg News reported on Saturday that Elliott, a U.S. company, is trying to increase shareholder value by urging BP consider transformative measures.
Shares of Enphase rise as company forecasts revenue for Q1 above expectations
Enphase Energy, a maker of solar inverters, forecasted first-quarter revenues above market expectations on Tuesday. This was after robust demand led to a higher-than-expected operating profit for the fourth quarter, which sent its shares up 6% after bell. According to data compiled and analyzed by LSEG…
Australian shares flat: Rio Tinto drags down miners after merger talks
Australian shares were flat on Friday. Gains in healthcare companies were offset by losses among miners. Rio Tinto fell on speculation about early merger talks with London listed smaller rival Glencore. S&P/ASX 200 index fell marginally 0.1% at 8,322.2 points as of 2322 GMT. The benchmark index is on course to record its second consecutive weekly increase.
Bloomberg News: RPT Rio Tinto and Glencore are in early merger talks
Bloomberg News reported Thursday that Glencore and Rio Tinto have had early-stage discussions about merging their businesses. The report was based on people familiar with this matter. If successful, the merger would be the largest in the mining industry and would create a combined company valued at around $158 billion.
Bloomberg News reports that Rio Tinto and Glencore are in early merger talks.
Bloomberg News reported Thursday that Glencore and Rio Tinto have had early-stage discussions about merging their businesses. The report was based on people familiar with this matter. If successful, the merger of the two iron-ore mining giants would be the largest in the industry and create a combined firm with a value of $158 billion.
Bloomberg News reports that Civitas Resources is considering selling DJ Basin assets.
Bloomberg News reported Wednesday that oil and gas producer Civitas is considering selling part or all its assets located in the Denver-Julesburg Basin in Colorado. These assets could be worth more than $4 billion. The report cited people who were familiar with the situation as saying that the company was working with a financial advisor to gauge buyer interest.
Document shows that ten EU countries have called for sanctions against Russian LNG and gas
A document obtained by revealed that ten European Union nations have asked the 27-nation group to ban the imports of gas from Russia. This comes as Europe is debating new sanctions against Moscow for its war in Ukraine. The EU is currently preparing its 16th set of sanctions against Russia's economic system…
Bloomberg News: Biden will ban new oil drilling in vast areas of US Atlantic and Pacific waters
Bloomberg News reported that President Joe Biden will ban any new offshore oil and natural gas development on 625 million acres of U.S. coast territory (250 million hectares), effective immediately. According to the report, which cited unidentified sources familiar with the issue, the ban will be announced…
Oil rises by 1% in a 3-week period as sanctions on Russia and Iran increase
The price of oil rose by about 1% on Friday to a record high for three weeks, as a result of expectations that additional sanctions against Russia and Iran would tighten up supplies. Lower interest rates in Europe or the U.S. may also boost the demand for fuel. . U.S. West Texas Intermediate crude (WTI)…
Macquarie-backed Offshore Sind Developer Corio Cuts Jobs
Corio Generation, the UK-based offshore wind developer backed by Australia's Macquarie Group, plans to cut a small number of jobs roles, a company spokesperson told Reuters.Ballooning costs due to technical and supply chain problems and high interest rates has had many offshore wind sector companies review investments or undertake restructurings."As with many companies in
Total closing in on 2 bln euro deal for renewables developer VSB, Bloomberg reports
Bloomberg News reported that TotalEnergies, a French oil giant, is on the verge of acquiring renewable developer VSB Group. The deal will cost about 2 billion euro ($2,10 billion). TotalEnergies has declined to comment. VSB Group, Partners Group and TotalEnergies did not respond to comments immediately.
Cargill, a giant in the commodities trading industry, plans to reduce around 8,000 positions
Cargill, a global trading company, announced on Tuesday that it will cut 5% or 8,000 jobs from its workforce. Revenues in the most recent fiscal period were down due to low crop prices. Cargill, a privately-held agricultural merchant, is under pressure because the prices of commodity crops, like wheat, corn, and soybeans, are at near four-year lows.
Ørsted to Shed Part of its UK Wind Farm Stake - Bloomberg News
Bloomberg News reported Monday that Denmark's Ørsted had begun selling a stake in the largest wind farm planned for the United Kingdom coast. The report was based on people familiar with this matter. Reports added that the Danish utility is looking to sell around 50% of the Hornsea 3 Project, but did…
EUROPE GAS - Prices edge up on weaker winds, correction after falling
Dutch and British wholesale prices for gas rose on Friday morning due to a weaker wind production. Meanwhile, the Slovak government-owned gas purchaser SPP denied a report that an agreement was nearing to replace Russian gas by Azerbaijan gas. LSEG data show that the benchmark front-month contract at the Dutch TTF hub…
Sources say that Venture Global LNG is planning to raise $3 billion from its US IPO.
According to sources familiar with the situation, Venture Global LNG plans to raise up to $3 billion in its New York initial public offering. This could happen as early as this year. The people who spoke to Venture Global said that the company is in discussions with Goldman Sachs, JPMorgan Chase and other banks about the listing plan.
