Barclays predicts Brent crude oil will reach $100 per barrel following the US and Israel's strike on Iran
Barclays increased its Brent crude oil futures forecast to around $100 per barrel, up from $80.00 on Friday, following the bombing of several Iranian sites by Israel and the United States. Oil markets may have to confront their worst fears Monday. The bank stated in a report that Brent (per barrel) could reach $100 as the market grapples with the potential of a supply disruption in light of the'spiraling Middle East security situation.
OPEC+ could consider a larger increase in oil production, according to sources after the Iran strike
Two sources said that OPEC+ could consider a bigger than planned 'output increase' on Sunday. Leading producers Saudi Arabia and?UAE had already boosted exports to prepare for a possible oil disruption due to the U.S. - Israel attack on Iran. The eight members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies, Saudi Arabia, Russia and the UAE were already scheduled to meet at 1100 GMT on Sunday.
Iran's main oil, gas and infrastructure production
On Saturday, Israel and the United States launched an offensive against Iran. The attack could cause oil and gas production to be disrupted and damage the energy infrastructure in the Middle East. Iran is the third-largest oil producer in the Organization of Petroleum Exporting Countries (OPEC). It pumps 4.5% or so of world oil. Iran produces 3.3 million barrels of crude oil per day, plus another 1.3 million barrels of condensate.
GKN's cancellation of plans for a magnet factory is a setback to Europe's goal for rare earths
GKN Powder Metallurgy scrapped plans to manufacture rare earth permanent'magnets' in Europe. Three sources familiar with the matter confirmed this, highlighting Europe’s struggle to create a domestic rare Earths?industry that can compete with China, the dominant producer. China controls 90% of the rare earth output processed and 70% of the mining production. Europe is being criticized for falling behind the U.S. when it comes to offering financial support to projects that develop its own supply.
ADNOC offers partners more Murban crude ahead of the OPEC+ meeting, sources and reports say
Abu Dhabi will 'export' more of its Murban crude, according to Bloomberg News and two trade sources. This will add to the already abundant supply from Middle East producers. Bloomberg reported that the state-owned Abu Dhabi National Oil Co. offered to increase volumes for partners in the onshore concession of the country, citing people who were familiar with the plans. It was not immediately apparent how much additional Murban will be supplied.
Cheniere Raises Share Repurchase Target After Q4 Profit Doubles
Cheniere Energy said its fourth-quarter profit more than doubled on strong liquefied natural gas (LNG) demand and the company raised its share repurchase target to more than $10 billion through 2030.Shares of the largest LNG producer in the U.S. were up 1.2% at about $223 in premarket trading on Thursday.The U.S. is the world's largest LNG exporter and had shipped 15 billion cubic feet per day (bcfpd) of the supercooled fuel last year, according to the U.S.
Cheniere increases buyback plan above $10 billion due to strong LNG demand
Cheniere Energy reported that its fourth-quarter profits more than doubled due to a?strong demand for liquefied gas (LNG). The company also raised its share repurchase goal from $10 billion until?2030. The largest LNG producer in the United States, the shares of this company are up 1.2% at $223. In premarket trading, shares of the largest?LNG producer in the?U.S. were up about 1.2% to $223. According to the U.S. Energy Information Administration, the U.S.
SBM Offshore, a Dutch company, boosts its shareholder returns after revenue exceeds expectations
Dutch offshore oil services company, SBM Offshore, announced a 57% annual'surge' in shareholder returns on Thursday. The record was $470 million (397.80 millions euros). They also committed to return at least $2.1billion to investors within the next six years. Amsterdam-based floating producer?said that it would pay 2.57 dollars per share via a $200 mln dividend and a 270 mln share buyback program…
China's lithium prices soar after Zimbabwe bans export
China's Lithium price rose on Thursday after Zimbabwe suspended its raw?mineral exports. This sparked concerns about supply disruptions at a time when the market is expected to boom due to a growing demand for?energy storage?. As of 0330 GMT, the most traded contract for lithium carbonate on the Guangzhou Futures Exchange had risen 6.07%, to?178.020 yuan (about $26,043.45) per metric ton, after having risen by more than 9%, to 187.700 yuan, earlier in this session.
Shell to provide more support for Brazil sugar-ethanol JV Raizen sources claim
Shell, the oil major and the "healthier" joint-venture partner of Brazilian sugar and alcohol producer Raizen, is prepared to invest more in a recapitalization for the "distressed" company, according to three sources familiar with the matter. The world's largest sugar producer, Raizen, is facing financial difficulties after it posted a net loss for the third quarter of $15.6 billion ($3 billion) at mid-February.
Sources: Saudi Arabia increases oil production and exports to prepare for a US attack against Iran
Saudi Arabia has increased its oil exports and production as part of an emergency plan, in case a U.S. attack on Iran disrupts Middle East supplies. Two sources familiar with this plan told Reuters on Wednesday. The Saudi Government Media?Office did not respond immediately to a comment request on the plan. Donald Trump, the U.S. president, has stated that he would consider a strike against Iran in order to press its leaders to agree to a deal to curb Tehran’s nuclear program.
Sources say that OPEC+ will consider an increase in oil production of 137,000 bpd for April.
OPEC+ is likely to consider raising its oil production by 137,000 barrels a day in April, according to three sources familiar with OPEC+'s thinking. The group is preparing for the peak summer demand, and tensions between the U.S. The resumption 'would allow OPEC leaders Saudi Arabia and other members, like the UAE, 'to regain market shares at a period when OPEC+ countries, such?as Russia, Iran and Kazakhstan…
Clean Max's India IPO, backed by Brookfield, subscribed to 94% of the total on the final day.
The exchange data shows that the 31?billion rupee ($341million) IPO of Clean Max Enviro Energy Solutions, which is backed by Brookfield, received a muted response as at 5:10pm IST on Wednesday. A power producer that supplies green energy to clients such as Amazon and Google India received bids of 20.6 million shares, compared with the 21.8 million offered. The IPO coincides with a slower start for India's main?market? in 2026.
Angola’s national oil company is looking to diversify its business into minerals that are critical.
Sonangol, the state-owned Angolan oil company, said Wednesday it wants to diversify its business into minerals that are critical for economic growth. Sonangol's executives told a press conference that the company made a net profit of over $750 million by 2025. This is compared to 736 billion kwanzas (about $807 million) in 2024. Conglomerate owns stakes in offshore oil and gas blocks, operates a fleet and refineries.
The recurring profit of EDPR, a renewable energy company, will jump 50% in 2025 due to US growth
EDP Renovaveis is the fourth largest?wind energy producer in the world. On Wednesday, it announced that recurring net profit would rise 50% by 2025. This was due to a strong U.S. expansion of capacity, despite lower capital gains. It also projected a?increase? in EBITDA for this year. Analysts polled by LSEG had predicted a net profit of 307 millions euros for the renewables division of Portugal's EDP.
Russell: Copper is the driving force behind BHP and Rio but getting more of it is the key.
Copper's role as a major profit driver is highlighted in the latest results of BHP Group and Rio Tinto. However, they also highlight how difficult it will likely be to gain more exposure for this industrial metal. BHP, the world's largest ?listed miner, reported last week a stronger-than-expected half-year underlying attributable profit of $6.2 billion, up 22% from the same period a year earlier. The results were notable because for the first time…
Woodside posts smaller-than-expected annual profit; CEO update imminent
Australian oil and gas ?producer Woodside Energy posted a ?smaller-than-expected fall in annual profit on ?Tuesday, ?as robust production offset weaker realised prices, and said it expects to name a new CEO in the first quarter of 2026. The company stated at its results presentation that "the appointment of the CEO is an important activity ...(the Board) intends to make a announcement in the first…
Russell: Copper is the driving force behind BHP and Rio but if you want more, it's up to you.
Copper's role as a major profit driver is highlighted in the latest results of BHP Group and Rio Tinto. However, they also highlight how difficult it will likely be to gain more exposure for this industrial metal. BHP, the world's largest ?listed miner, reported last week a stronger-than-expected half-year underlying attributable profit of $6.2 billion, up 22% from the same period a year earlier. The results were notable because for the first time, the miner's operating profits came from copper.
Congo replaces Gecamines as leader amid mineral talks with US
The government announced on Monday that the president of the Democratic Republic of Congo has replaced Gecamines' chief executive and?board?chair. This is a major shakeup at a time of negotiations with Washington regarding a mineral deal. According to a statement read out on state television, Deogratias Ngele Masudi will be the new chairperson and Baraka Kabemba the chief executive. The statement stated…
US producer Continental claims that the shale resource in Argentina could be "another Permian".
Continental Resources CEO Doug Lawler stated on Tuesday that Argentina's shale resource might be similar to the size of the Permian Basin in the United States. Lawler, a U.S. oil company, said that the oil production potential in Argentina could be as high as 1.5 to 2 million barrels a day within the next few years. Continental increased its stake in Argentina's Vaca Muerta shale basin last month by purchasing a non-operating share in four blocks.