Maurel & Prom, a French oil company, has seen its sales growth fall due to a drop in revenue from the main fields
Maurel & Prom, a French oil company, reported a sharply reduced first-quarter growth rate on Thursday. Revenues declined in its main oil fields of Gabon, Angola, and Tanzania. The revenue for the quarter ending March 31 dropped by 70% compared to a year ago, falling from $64 million. The group reported that sales were down due to the lifting of imbalances which resulted in a $76 million negative impact - net of inventory valuation - as well as the absence of oil trade. Oil prices were also lower, with a drop of 11% to $74.9 per barrel.
YPF's earnings could be affected by lower crude oil prices
A Friday presentation to investors revealed that the state-owned oil company in Argentina could have its core earnings fall this year due to lower crude prices. According to the firm's current estimates, its earnings before interest taxes depreciation amortization (EBITDA), in 2025, will range from $5.2 billion to $5.5 billion assuming Brent crude at $72.5 per barrel. The firm estimates that if crude sold for $60 per barrel, projected EBITDA would drop to between $4.2 and $4.5 billion.
Germany and France have different spot prices
German wholesale electricity prices fell on Friday due to a strong wind in Germany, while they rose in France, though only from a level that was just half of the price in the larger market next door. Riccardo Paraviero, LSEG analyst, said that the signal for tomorrow was bearish. He added that consumption in the region had decreased. French baseload was up by 25.9% to 35.3 euros ($38.87), a megawatt-hour (MWh) as of 0745 GMT, while German baseload was not traded with a price of 61.5 euro/MWh. This was compared to the previous close which was 82.9 euros.
Palm extends its losses as soyoil and crude oil prices fall
Malaysian palm futures dropped to a 10-week-low on Monday. Pressured by lower soyoil prices and crude oil, fears of a trade war arose from China's retaliatory duties on U.S. products. The benchmark contract for palm oil delivery in June on Bursa Derivatives exchange fell 146 ringgit or 3.37% to close at $4,182 Ringgit ($934.32) per metric ton. Earlier in the session, the contract reached a low of 4163 ringgit. This was its lowest level since 24 January. The contract has fallen 6.84% in three sessions.
VEGOILS-Palm falls tracking weaker soyoil, crude oil prices
Malaysian palm futures declined on Monday for the third consecutive session. They were weighed down on lower soyoil prices and crude oil, while China's retaliatory duties on U.S. products raised fears of an international trade war. At midday, the benchmark palm oil contract on Bursa Derivatives exchange for June delivery fell 57 ringgit or 1.32% to 4,271 Ringgit ($957.62). Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, said that crude palm oil futures fell, following a sharp drop in Chicago soyoil prices and falling energy costs.
US tech and retail stocks lead the rout following Trump's tariff blow
Apple, Walmart and Nike are among the U.S. megacap tech companies that led to a global meltdown after President Donald Trump announced new tariffs. The fears about a cost spike across many industries were heightened by these new tariffs. The tariffs threaten to disrupt the global trade order and upset businesses. This is a stark contrast to just a few short months ago, when the hopes for business-friendly policies from the Trump administration drove U.S. stock prices to record highs.
Palm oil climbs as Chicago soyoil and crude oil prices firm up
The market for Malaysian palm oils futures rose on Wednesday, marking the fourth session in a row. This was due to gains in Chicago soyoil prices and energy. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 99 ringgit or 2.24% to 4,518 Ringgit ($1,015.05) per metric ton. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, said that the price of crude palm oil was higher following the Malaysian holidays, due to a rally on Chicago soyoil and energy prices. Bagani stated that U.S.
Palm oil rises as Chicago soyoil and crude oil prices strengthen
Malaysian palm futures were up for the fourth consecutive session on Wednesday, supported by gains in Chicago soyoil as well as energy. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for June delivery gained 119 Ringgit or 2.69% to 4,538 Ringgit ($1,020.46) per metric ton. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, said that the price of crude palm oil was higher following the Malaysian holidays, due to a rally on Chicago soyoil and energy prices. Bagani stated that U.S.
Sinopec's net profit for 2024 plunges 16.8% because of falling oil prices
China Petroleum & Chemical Corp, also known as Sinopec reported a 16.8% drop in net profit for 2024 on Sunday. The company cited lower crude oil prices, and the accelerated growth of the new energy vehicles (NEV) sector. This decline in net income is comparable to a drop of 9.9%, which also occurred in 2023 due to falling oil prices. Diesel sales dropped 4.8% and gasoline fell 0.7%. Aviation fuel sales rose 7.3%. Both domestic and export sales were included in the figures.
Palm oil is a weaker competitor to other oils
The price of Malaysian palm oils futures dropped for the second session in a row on Tuesday. This was due to weaker edible oils from rival producers and concerns over U.S. tariff policies. By midday, the benchmark contract for palm oil delivery in May on the Bursa Derivatives exchange fell 59 ringgit or 1.31% to 4,440 Ringgit ($1,002.71) per metric ton. David Ng, a proprietary trading at Kuala Lumpur's Iceberg X Sdn. Bhd., explained that the market was down because of soybean oil's overnight drop and Dalian weakness. This was primarily due to U.S.
Gunvor CEO: Global oil supply is growing faster than demand
Gunvor, one of the largest oil traders in the world, said that the global oil supply is growing faster than the demand. Last week, oil prices fell to their lowest level in three years due to a slowdown in demand growth and concern about the global economic impact of President Donald Trump's protectionist policies. Torbjorn Tornqvist, CEO of Gunvor, said that the demand for energy is still growing in the world but not by a large amount. He made this statement in an interview on the sidelines an industry conference in Houston.
Australian shares gain modestly as commodities support
Australian shares rose on Monday and hovered below the important 8,000-level as commodities fueled a slight recovery in the benchmark index after a selloff in the previous session amid market uncertainty. As of 2341 GMT, the S&P/ASX 200 was up 0.2% to 7963.8. The benchmark index fell 1.8% on Friday to close below 8,000 for the first six-month period, amid uncertainty about global trade. Energy stocks gained nearly 1% in tandem with a recovery of crude oil prices after U.S.
ConocoPhillips sells Ursa and Europa Fields interests to Shell for $735 Million
ConocoPhillips announced on Friday that it will sell its interest in the Ursa Fields and Europa Fields for $735,000,000 to Shell as part of its plan to streamline the company's portfolio. After its $22.5 billion acquisition of Marathon Oil, the company is looking to sell non-core assets in order to reduce debt. Conoco announced earlier this month that it would be selling its Lower 48 non-core assets for $600,000,000. Shell's Ursa working interest will increase from 45.4% to 61.35% by the end the second quarter 2025.
VEGOILS - Palm oil ends lower due to weaker competitor oils. Traders await positive signals
Malaysian palm futures declined on Tuesday as traders looked for bullish signals to support prices. The benchmark May palm oil contract on Bursa Malaysia's Derivatives exchange fell 34 ringgit (0.75%) to close at 1,014.63 ringgit per metric ton. A Kuala Lumpur based trader stated that the market was under pressure due to the weakness of rival oilseeds, as there were no significant bullish reports. Dalian's palm oil contract, which is the most active contract, fell by 0.33% while soyoil prices dropped by 0.25%.
Palm oil falls on Dalian crude oil, weakening it
Malaysian palm futures dropped on Thursday, ending a five session rally. Pressured by lower Dalian oil and lower crude oil prices, sparked by the talks to end Ukraine-Russia's war, they were pushed down by weaker Dalian oil. At midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for April delivery fell 63 ringgit or 1.36% to 4,558 Ringgit ($1,023.35) per metric ton. Anilkumar bagani, head of commodity research at Mumbai's Sunvin Group, said that crude palm oil futures fell following a selloff on energy markets, after U.S.
TotalEnergies exceeds expectations in the fourth quarter profit and signals a stronger 2025
TotalEnergies, the French oil giant, beat the expectations for its fourth-quarter earnings Wednesday. Higher trading profits on the gas market helped to offset the impact of low fuel prices and weak demand. The adjusted net income for 2024's final quarter was $4.4 billion. This is down 15% on the $5.2 billion of the previous year, but still slightly above the $4.1 billion in the third quarter. According to a LSEG analyst consensus, the results exceeded expectations of $4.2 billion.
TotalEnergies' fourth-quarter profits drop on low oil demand
TotalEnergies, the French oil giant, reported a 15% decline in its fourth-quarter earnings Wednesday. The company closed out a year that was marked by low oil and fuel prices. This was partially offset by increased electricity sales and trading of liquefied gas. The adjusted net income for 2024's final quarter was $4.4 billion. This is down from the $5.2 billion it earned a year ago, but higher than the $4.1 billion in the third quarter. Visible Alpha, a consensus of six analysts, said that the results exceeded expectations.
Palm oil's performance is lower due to weakness in Chicago Soyoil
The price of palm oil in Malaysia ended lower Tuesday after a five session winning streak. Chicago soyoil fell as the U.S. announced it would delay implementing tariffs against Mexico and Canada. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for April delivery fell 63 ringgit or 1.44% to 4,304 Ringgit ($969.37). A Kuala Lumpur based trader stated that the crude palm oil futures fell due to weakness in the Chicago soybean oil market. The trader stated that "the news that the U.S.
Palm oil rises as Chicago soyoil and crude oil strengthen
Malaysian palm futures rose Monday for the fifth session in a row, boosted by a stronger Chicago soyoil price and higher crude oil prices. By midday, the benchmark contract for palm oil delivery in April on the Bursa Derivatives exchange had gained 63 Ringgit (1.47%) to 4,352 Ringgit ($969.91). In the last four sessions, it gained 2.36%. Anilkumar bagani, commodity researcher at Mumbai's Sunvin Group, said that the futures for crude palm oil (CPO), which are based on Chicago soyoil, have been moving higher since last Friday. He said that U.S.
Diamondback Energy reports lower oil prices in the fourth quarter
Diamondback Energy, the U.S. producer of shale oil, announced on Monday that its production prices were lower in the fourth quarter compared with the previous three months. Crude oil prices dropped about 6% during the quarter of October-December, due to a patchy recovery from the pandemic, China's slow economy, and an excess supply worldwide. Prices are down nearly 12% compared to a year earlier. The company reported that the average realized price…
