Mega-deals in mining that created global giants
The companies have confirmed that they are in the early stages of talks with each other to purchase Glencore. This could result in the creation of the world's biggest mining company, valued at nearly $207 billion. This move is a result of global'miners racing to scale up metals such as copper, which are seen as?critical for the energy transition. It has fueled a surge in expansions and takeovers. According to LSEG, Glencore's enterprise value is $99 billion.
Oil Prices Rise 2% Amidst Venezuela Conflict, Supply Concerns
Oil prices rose about 2% on Thursday after two days of declines as investors assessed developments in Venezuela and on worries about supplies from Russia, Iraq and Iran.Brent futures rose $1.21, or 2%, to $61.17 per barrel at 11:17 a.m. EST (1617 GMT), while U.S. West Texas Intermediate crude gained $1.02, or 1.8%, to $57.01.The U.S. seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one sailing under Russia's flag, as part of U.S.
Iraq nationalises West Qurna 2 Oilfield Operations, Government Says
Iraqi Cabinet has approved the nationalisation of petroleum operations in West Qurna 2 Oilfield, one?of the world's largest oilfields, according to the 'provisions' of a contract signed with Russia Lukoil. The cabinet agreed to also seek approvals for financing operations via the Majnoon account. This will be boosted with proceeds from crude shipments sold by SOMO, state oil marketing company. An Iraqi oil manager said that the state-run Basra Oil Company would?cover local salaries…
EOG Resources: Higher Venezuelan output and oversupply are weighing down on shale oil prices
Ann Janssen, finance chief at EOG Resources, said that on Wednesday oversupply from Venezuela and possibly higher production are pushing down oil prices. This trend is likely to continue for several more quarters. Brent crude futures fell about 0.6% to $60.30 per barrel as investors reacted after U.S. president Donald Trump announced that his country had "reached an accord" to import up $2 billion of Venezuelan crude.
South Africa relaxes antitrust rules for companies facing high electricity costs
South Africa has loosened its antitrust regulations to allow firms battling high energy costs to build energy infrastructure together and negotiate contracts collectively. In a government announcement seen by on Tuesday, South Africa's Trade Minister Parks Tau stated that the new measure was meant to help?distressed industry. The Minerals Council of South Africa says that electricity costs have increased by over 900% in the last five years.
Shell purchases stakes in offshore blocks in Angola from Chevron
Shell announced on Tuesday that it has reached an agreement with Chevron to purchase a stake in two offshore blocks in ultra-deep water offshore Angola. European oil companies have announced that they will invest billions of dollars in Angola. Angola is the second-largest crude producer in Sub-Saharan Africa after Nigeria. Angola has implemented major regulatory reforms in order to 'attract investments into its energy sector. It aims to keep production at or above 1,000,000 barrels per day.
ROI-Trump's Venezuela oil grab revives 'petrodollar' debate: McGeever
The arrest and capture of Venezuelan president Nicolas Maduro by the United States on Saturday was likely motivated by many factors, but one that has been little discussed is the White House's concern about the declining global prominence of "petrodollar". Venezuela's oil production is modest, at just 1 million barrels a day. However, its reported reserves are huge - around 300 billion barrels or 17% of global stocks. Donald Trump has made it clear the U.S. wants to tap this huge potential.
Sources say that OPEC+ will maintain oil production despite tensions among its members
OPEC+ delegates reportedly said that despite the political tensions between Saudi Arabia and the UAE?and U.S. capture the president of smaller producer 'Venezuela,' OPEC+ is likely to maintain steady oil production at its Sunday meeting. The OPEC+ meeting on Sunday, which includes eight members who pump about half of the world's crude oil, was called after oil prices dropped more than 18% between 2025 and 2020, their biggest drop in a year since then, amid concerns over an increasing oil supply.
What just happened? Ten charts that will help you understand the market in 2025
The past year will not be forgotten soon. The conventional wisdom about investor behavior and economics was often challenged in 2025 as technology, energy, and geopolitics influenced markets in unexpected ways. Here are ten charts that explain what happened in the year 2025, and what this might mean for 2019. Donald?Trump’s "America First " agenda was a key driver of market growth in 2025, particularly during the first half. The U.S.
What just happened? Ten charts that will help you understand the market in 2025
The past year will not be forgotten soon. The conventional wisdom about investor behavior and economics was often challenged in 2025 as technology, energy, and geopolitics influenced markets in unexpected ways. Here are 10 charts to help you understand what happened in the year 2025, and what that might mean for 2019. Donald Trump's?America First? agenda was a key market driver for 2025, particularly during the first half of the calendar year. The U.S.
Tinubu, Nigeria's Tinubu, approves a debt forgiveness of $1.42 billion for the state oil company NNPC
The presidency announced on Monday that Bola Tinubu had approved the cancellation by the Nigerian government of $3.85 billion in debts owed to the state oil firm NNPC Ltd. Tinubu is attempting to improve transparency and clean up NNPC’s books as the top?oil producer in Africa deals with soaring debt and low revenue. The NNPC was given approval by the Nigerian Upstream Petroleum Regulatory Commission…
Frontera to Supply Significant Crude Oil to Chevron Unit
Frontera Energy's Colombian unit has signed a prepayment and commercial agreement worth up to $120 million with a unit of U.S. oil major Chevron to supply crude oil over two years, the Canadian oil producer said on Monday.Under the deal, Frontera will receive an initial $80 million advance and supply a portion of its crude output to Chevron Products Company.Frontera may seek an additional $40 million…
Document shows that Nigeria's NNPC is looking to sell stakes in certain oil and gas assets. It invites bids.
According to an invitation received on Monday, NNPC Limited (the state-owned energy firm of Nigeria, Africa's top oil producer) plans to sell stakes?in?some of its?oil and?gas _assets. NNPC has some assets that it owns outright, while others are in partnership with oil companies such as Shell, Chevron Eni, TotalEnergies, and Chevron. The document didn't disclose if it aimed to raise a certain amount or the stakes offered, and NNPC declined to comment on a request.
Indonesia allocates 15,65 million kilolitres for biodiesel in 2026
An official from the Indonesia Energy and Mineral Resources Ministry told us on Tuesday that the Ministry had signed a decree allowing it to allocate 15.65 million kilograms of palm biodiesel in order to meet its fuel blend mandate by 2026. 7,45 million KL of the total allocation has been allocated for public service obligations (PSO), covering sectors like public transportation, whose sales are subsidised by the palm oil fund.
ComBio Brazil expects revenues to reach $430 million as corn ethanol customers increase production
Commercial director Ricardo Blandy, Brazil's biggest supplier of renewable thermal power for industrial clients, said that ComBio expects its revenue to triple to?about $430 million in five years due to the growing demand from corn ethanol producers. Blandy stated that there are?25 corn-ethanol plants in Brazil. Another 18 are currently under construction, and another 19 are still in the planning stages. Biofuel production is increasing, and biomass supply has become tighter.
Bousso: The geopolitical premium of oil in the ROI vanished by 2025 and is unlikely to return.
In 2025, the global oil markets were faced with multiple black swans events - such as the Israel-Iran War and Ukrainian attacks on Russian refiners. Yet they were barely affected. In an era when energy is abundant, this calm could be the new norm. The year 2025, by any measure, was chaotic in geopolitics, with President Donald Trump's return to his White House and his flurry of trade, diplomatic and policy initiatives dominating the year.
Bousso: The geopolitical premium of oil in the ROI vanished by 2025 and is unlikely to return.
In 2025, the global oil markets were faced with multiple black swans events - such as the Israel-Iran War and Ukrainian attacks on Russian refineries - but they were not fazed. In an age of abundant energy, this calm could be the new norm. The year 2025 will be remembered as a geopolitical chaos, due to President Donald Trump's return in January, and his frenzy of trade, policy and diplomatic initiatives. On June 12, Israel bombed Iranian military, government, and nuclear sites.
Minister says South Korea's petrochemical companies are on track to reduce their output by up to 3.7 million tons.
South Korea's petrochemical companies are on course to reduce up to 3.7 metric tons of production under a voluntary program to overhaul the oversupplied industry and improve flagging profits margins, said the?industry? minister on Monday. Kim Jung-kwan, Minister of Industry, said that 16 companies including major naphtha producers had submitted blueprints before the year-end deadline, as requested by the authorities. These blueprints would form the basis for a 'quick way to restructure industry.
MPOC expects crude palm oil to trade at between 3,800 and 4,100 Ringgit in January.
The Malaysian Palm Oil Council announced on Friday that the price of crude palm oil is expected to range between 3,800- 4,100 ringgit (932- $1005) during January. This will be due to low production levels in the first quarter and increased demand for the Lunar New Year (Lunar New Year) as well as the Ramadan holidays. Malaysian palm oil exports will rise to 16,2 million metric tonnes in 2026. Production is forecast to fall to 19…
Lachlan Harris, an insider at Santos Australia, is named finance director
Santos announced on Friday that it had appointed Lachlan Harri as its new 'CFO'. The Australian gas producer is currently navigating a period of transition tied to the Barossa, and Pikka project. Sherry Duhe, the former CFO who left the position in October after just a year, was replaced by the new CFO. Analysts pointed out at the time that Duhe's departure left Santos without a clear succession, since she was widely seen as a potential successor to CEO Kevin Gallagher if he chose to step down.