Tokyo Gas sells US shale-gas stake to Shizuoka Gas at $130 million
Tokyo Gas, Japan’s largest city gas supplier, has announced that it will sell Shizuoka Gas its 25% stake in the Eagle Ford shale project in South Texas for $130m as part of an asset portfolio review in order to improve efficiency. Tokyo Gas, in a press release, said that the move would allow it to concentrate on its U.S. division, TG Natural Resources. This unit has assets in north Louisiana and east Texas.
Freeport Indonesia asks for copper concentrate export license
Freeport Indonesia's chief executive has said that the company has asked the government to relax the ban on copper exports and allow it to export 1.3 millions metric tons (worth $5 billion) of copper concentrate by December. Indonesia, a country rich in natural resources, has banned the export of unprocessed ore to encourage domestic processing and add value.
Malaysian PM: Petronas will adhere to contractual commitments
Anwar Ibrahim, Prime Minister of Malaysia, said that Petroliam Nasional Berhad, the state-owned energy company, will continue to fulfill all contractual obligations. This was after discussions over gas distribution between Petros and Petroleum Sarawak Berhad, sparked industry concerns. The recent deadlock between Petronas (run by Petros) and Sarawak (home to 60% of Malaysia's natural gas reserves)…
Chevron is struggling to replace its oil and gas reserves amid uncertainty surrounding the Hess deal
Chevron’s oil and natural gas reserves are at their lowest level in more than a decade. This highlights the importance of its planned acquisition of oil producers Hess, which has been stalled by a legal battle with Exxon Mobil. Investors in energy companies use reserve replacement as a key metric. It gives them an idea of how much gas and oil the company could produce, and how long.
Official Russian energy says US sanctions shouldn't hinder oil trade with India
The latest sanctions by the United States against Russia shouldn't affect the oil trade between Moscow and India, Pavel Sorokin said, Russia's first vice minister of energy, on Tuesday. He added that it is too early to determine the effects. India has become the largest buyer of Russian oil shipped by sea at a discounted price after Western nations…
Indonesia's new energy supply plan includes a focus on renewable sources of power.
A deputy minister stated on Tuesday that Indonesia aims to increase its share of renewable energies in the electricity supply plan within the next 10 years. This will be fueled by increased solar, geothermal and hydro power. This new plan is known as RUPTL locally. It would replace Indonesia’s RUPTL 2021-2030, which planned a total new capacity of 40.6 gigawatts, of which 52% was renewable energy.
Ukraine has the potential to store and buy LNG from US
Ukraine's foreign minister stated on Wednesday that Ukraine and other European countries have the ability to purchase and store liquefied gas (LNG), which is produced by the United States, in Ukraine. This could increase Europe's energy independence as transit routes from Russia are ending. The Ukraine, which was invaded three years ago by Moscow…
Sources say that RPT-Encino owner is considering a $7 billion sale and IPO.
CPP Investments, a Canadian pension fund, is considering strategic options for Encino Acquisition Partners, such as a sale or an initial public offering that could value Encino Acquisition Partners at up to $7 billion including debt. The energy industry has been anticipating a boost from President Donald Trump's administration, which has outlined…
Sources: Encino's owner is considering a $7 billion sale and the IPO of an energy producer.
CPP Investments, a Canadian pension fund, is considering strategic options for Encino Acquisition Partners, such as a sale or an initial public offering that could value Encino Acquisition Partners at up to $7 billion including debt. The energy industry has been anticipating a boost from President Donald Trump's administration, which has outlined…
Infinity Natural, backed by Pearl Energy, valued at $1.3 Billion as shares soar in NYSE debut
Infinity Natural Resources, a company owned by private equity, was valued at $1.3 billion after its shares rose 10.8% on their New York Stock Exchange debut on Friday. Morgantown, West Virginia based company opened its stock at $22.16, over the $20 per share offer price. Infinity, supported by Pearl Energy Investments, NGP and other buyout firms, sold 13,25 million shares between $18 and $21 in order to raise $265 millions.
Wright to speak at conservative event in London
The organization announced on Thursday that Chris Wright, Donald Trump's nominee to lead the U.S. Energy Department will be speaking to a conservative think-tank in London, next month. Wright has advocated expanding fracking operations in previous meetings. Wright, whose confirmation by the Senate is expected on Friday, will not be attending the Alliance for Responsible Citizenship Conference in person…
Diversified Energy buys energy producer Maverick for $1.3 billion
Diversified Energy, a U.S. company, announced on Monday that it would buy Maverick Natural Resources, a private equity firm, for $1.28 Billion, including debt. The purchase will allow the company to expand its operations in the oil-and-gas-rich Permian Basin. Diversified Energy - which produces natural gas and liquids - said that it would assume about $700 millions of Maverick Natural Resources debt.
Infinity Natural aims to reach a valuation of $1.2 billion in the US IPO
Infinity Natural Resources, a producer of oil, is aiming for a value of up to 1,24 billion dollars in its initial public offer. It joins a group of players in the industry that have been rushing to list their stocks in recent months. The company announced on Tuesday that it aimed to raise $278.25 through the sale of 13,25 million shares at a price between $18 to $21 per share.
TSX reaches 5-week highs as US trade tariffs are held back
Investors expressed relief at the news that President Donald Trump would not impose immediate U.S. tariffs on Canada. The Toronto Stock Exchange S&P/TSX Composite Index closed up 103.66, or 0.4% at 25,171.58, marking its fifth consecutive day of gains, and highest closing level since December 13. A Trump administration official confirmed that Trump would issue a general trade memo on his first day of office.
China's lead in coal imports over India is the largest it has been in more than 10 years
China, the largest coal importer in the world, has extended its lead over India, No. The gap between China and India, the world's No. 2 coal buyer last year, was the largest since at least 2013. Customs data show. This helped cement its grip on global markets while also helping to stem a price slide. According to the International Energy Agency, global thermal coal prices are still 50% higher than average for the period 2017-19…
Toronto stock market edge higher as mining shares rise
The main Canadian stock index closed higher on Thursday. Metal mining shares led the way, but gains were limited. Investors awaited the employment data from both sides of border, and prepared for a potentially volatile financial year. The S&P/TSX Composite Index ended the day up 21,68 points or 0.1% at 25,073.36, adding on to yesterday's gains. The trading volume was lower than usual due to the U.S.
Canadian Natural Resources will increase production and spending by 2025
Canadian Natural Resources announced on Thursday that it expects to see production increase by 12%, and capital expenditures rise by 13.5% in 2025. The company is betting on an increased demand due to tight oil supply. Canadian oil producers are projecting higher production in 2025. They bet on the resilient demand for Canadian crude oil on international markets. According to the U.S.
Black Sea Spill Volunteers Beg Putin for Help
Volunteers helping to clean up a major oil spill along Russia's Black Sea coast appealed in a video released on Monday for President Vladimir Putin to urgently send federal aid, saying that they and local authorities were overwhelmed.The pollution, which has coated sandy beaches at and around Anapa, a popular summer resort, has caused serious problems…
Malaysia's Petronas, Petros finalising deal on gas distribution in Sarawak state, PM says
Anwar Ibrahim, the Prime Minister of Malaysia, said that Petroliam Nasional Berhad and Petroleum Sarawak Berhad are working to finalize details for a long-delayed gas distribution agreement in Sarawak. Both companies have been at odds for months over Sarawak's plans to take control of all gas trading within the energy-rich state away from Petronas - whose sole shareholder, the Malaysian Government, is Petros.
Russell: China's crude oil imports in November recover and other commodities remain strong
The Chinese economy is having a great week, as the outlook has improved amid new stimulus measures. Commodity imports have also performed well in November. The CSI300 index, which is the benchmark, rose 3.2% on the opening day, while government bonds rallied. The announcement of additional monetary stimulus in the official media boosted sentiment. However, the high imports of commodities in November also helped.
