Santos Australia targets higher output in 2025, pinning hopes on Barossa Project
Santos, Australia's largest oil and gas company, forecast higher production for fiscal 2025 based on the expectation that Barossa will start production this year. The company also reported a sequential increase in its fourth quarter revenue on Thursday. Santos is the second largest independent gas producer in the country. Santos, the country's no. Visible Alpha's consensus was 89.9 million mmboe. If gains continue, shares could rise as high as 1.7% at A$7.250.
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. A recent flurry has accelerated the pace of energy sector IPOs.
Can Trump reverse Biden's offshore oil drilling ban?
In an executive order issued on Monday, President Donald Trump revoked the ban placed by former Democratic president Joe Biden against new offshore oil-and-gas development along most of America's coasts. Trump will face legal challenges regarding his authority. What did BIDEN and Trump do? Biden used his authority, granted by the Outer Continental Shelf Lands Act of 1970, to stop oil and gas drilling…
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. The memo will not impose new tariffs but will direct federal agencies to evaluate U.S.
Russia's proposed gas pipeline to Iran
The Russian President Vladimir Putin announced on Friday plans to build a pipeline to Iran that will eventually transport up to 55 billion cubic meters (bcms) of gas per year into the West Asian nation. Here are some background details about the cooperation between Iran, Russia and the gas sector. Iran is the second largest gas producer in the world after Russia. However, U.S. sanctions are preventing access to technology as well as slowing down gas exports.
Australian Government pledges $1.24 Billion in Green Aluminium Push
Australia's Labor Government pledged A$2 Billion ($1.24 Billion) in production credits on Monday to support the four Australian aluminium smelters to switch to renewable energy before 2036. Aluminum is one of non-ferrous metals that is the most polluting to produce, since its production is mainly powered by coal. The term "green aluminium" is used to describe metals produced by solar, wind and hydropower.
Beware of Egypt's smokestack reshoring as Cement Exports Soar: Maguire
North Africa's second largest natural gas producer and its largest economy have increased the production and exports of several energy-intensive commodities in an effort to boost the growth of their industrial sector. Egypt's exports of chemicals, fertilizers, and cement doubled from 2022 to 2024. They have also grown by 350% in the last year thanks to government initiatives aimed at promoting rapid industrial growth.
Beware of Egypt's smokestack reshoring as Cement Exports Soar: Maguire
North Africa's second largest natural gas producer and its largest economy have increased the production and exports of several energy-intensive commodities in an effort to boost the growth of their industrial sector. Egypt's exports of chemicals, fertilizers, and cement doubled from 2022 to 2024. They have also grown by 350% in the last year thanks to government initiatives aimed at promoting rapid industrial growth.
Glencore's and Rio Tinto’s mining operations
A person familiar with this matter stated that Glencore had approached Rio Tinto in late 2013 about merging the two major copper producers. However, the talks are no longer ongoing. Both companies declined to make any comment. The merger could be the biggest ever in the mining sector. GLENCORE is a London-listed company that produces lead, nickel, zinc, copper, and cobalt. Its biggest revenue-generating metals are copper and zinc…
After EU ruling, Indonesia expects EU to change its stance on palm oil biofuels
Indonesia has welcomed the World Trade Organization's ruling in the case of the European Union involving palm oil-based Biodiesel. The bloc is expected to amend its regulations to conform to the ruling. Indonesia, the world's biggest palm oil producer, brought the case before the WTO dispute panel in 2019. The EU had decided that palm-oil-based diesel was not to be considered as a biofuel because of its connection to deforestation.
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. Rio Tinto shares dropped 1.21% after reports of short, unsuccessful merger discussions with Glencore in late 2017.
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. This value is higher than the $126 billion market valuation of BHP, the top miner. It was not clear whether the talks are still ongoing.
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. This is more than the $126 billion market valuation for BHP, the top miner. It was not clear whether the talks are still ongoing.
Nigerian oil reserves increase, production increases 26%, as theft declines
The industry regulator announced on Thursday that Nigeria's oil reserves will increase in 2024. Meanwhile, crude oil production will surge 26% from April 2023 to late 2024 due to a decline in theft. Nigeria, Africa's largest oil producer, depends on this commodity for more than 90 percent of its foreign currency earnings and around two thirds of its revenues. Oil theft on a large scale has reduced government revenues and slowed down production in recent years.
Canadian farmers warn Bunge Viterra's takeover of Bunge will reduce competition
Farmers say that Canada's approval for Bunge's $34 billion takeover of Glencore's Viterra by U.S. grain traders Bunge will reduce their ability to sell crops at competitive rates and that the government has not made enough concessions. The approval of Canada with conditions, on Tuesday, was the last step needed to complete the largest global agriculture merger in dollar terms. Experts expected that…
Oil Dips on Larger US Crude Draw, Russia Sanctions
Oil prices fell back slightly on Thursday, a day after settling at multi-month highs on U.S. President Joe Biden's latest sanctions targeting Russia and a larger than forecast fall in U.S. crude stocks.Brent crude futures were down 12 cents, or 0.15%, to $81.91 per barrel at 1415 GMT, after rising 2.6% in the previous session to their highest since July 26.U.S. West Texas Intermediate crude futures were down 18 cents…
Hapoalim provides $1.5 billion to Dalia Energy for a new power plant
Dalia Energy, an Israeli company, announced on Thursday that it had signed a loan agreement with Bank Hapoalim for 5.3 billion Shekels ($1.5billion) to fund the construction of a brand new power plant. The deal, which is non-binding, is intended to fund the construction of a new power plant with a capacity of up to 850 megawatts at the site of Ashdod's current Eshol Power Station. The plant will be paid 0.065 Shekel per kilowatt-hour for the first 20 years of its operation.
Sources say that India's steel minister is seeking $1.7 billion from the budget to assist mills reduce emissions.
Two government sources who are directly involved in the matter said that the Indian steel ministry requested 150 billion rupees (1,74 billion dollars) to be allocated to the budget as incentives for mills to produce low carbon steel. Nirmala Sitharaman, Finance Minister, will present the federal Budget for 2025-2026 on February 1. India, which is the second-largest steel producer in the world after China, is working on a policy to decarbonise the production of the alloy.
Oilfield services provider Flowco raised $427 mln through its US IPO
Flowco Holdings announced on Wednesday that it had raised $427.2 Million after pricing its U.S. Initial Public Offering above its target range. Flowco set the price of its 17.8 million shares to $24 per share. The company advertised to list its stock between $21 and $23. The U.S. IPO Market has been revitalized by strong equity markets, falling rates of interest and the hope that the incoming Trump Administration will create a more friendly regulatory environment.
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. If it received a sufficiently appealing offer, they would be willing to divest fully from the basin.
