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Oil and Gas
Permian Resources acquires Earthstone Energy for $4.5bn
Permian, a US shale oil operator, announced Monday that it would buy Earthstone Energy for $4.5bn in all-share transactions including debt. Upstream producers are increasingly looking to make deals in order to improve their inventory.…
Bond Traders fear ECB Hawks when energy jitters return to Europe
Last week, traders and strategists were reminded of the fragility of Europe's energy security and bond market risks.
After threats of strike in Australia, spot natural gas prices jumped almost 30% within a single day.
ING Groep NV…
European gas prices jump almost 40% due to supply disruption fears
The price of European natural gas soared by almost 40% on Wednesday, as traders who bet on further price drops were scared off by the possibility that global LNG supply could be disrupted from Australia.
The price of the Title Transfer…
Gas reaches key $3 mark for the first time since Jan
On Wednesday, speculators chased the price of America's preferred fuel for heating and cooling indoors to seven-month highs above $3 per million British thermal units (mmBtu). This was despite a reported production slowdown due to pipeline…
Mohammed bin Salman relies heavily on oil to plug Saudi Arabia’s ballooning debt
Saudi Arabia's oil company, the state-owned Saudi Arabian Oil Company (SAOC), will help to plug the Gulf nation’s growing budget deficit by increasing its dividend payouts despite falling revenue.
Saudi Aramco announced on Monday…
Gas mogul who redrawn energy map clings on to Aspen ranch when loans are due
He was hailed for his bold vision that reshaped the global energy market and made him one of the highest-paid executives in America.
Charif Souki claims he has been fighting the Swiss bank UBS for a roof to cover his head.
Souki…
Wizz Air’s chief lauds the ‘capitalist’ spirit behind the £100mn bonus package.
Wizz Air’s chief executive said that the extension of a bonus incentive package for him to unlock a £100mn shows "the prevalence of capitalist spirits" despite the significant opposition of some investors.
The resolution passed by the…
BP raises dividend despite 70% profit drop
BP increased its dividend and announced more share buybacks even as earnings slumped 70 per cent from the record levels set last year.
The UK-listed energy major was the last of the large western oil and gas groups to report half-year…
Crude oil prices fall ahead of the crucial Federal Reserve meeting
Prices of crude oil stabilized at three-month-highs on Tuesday as traders awaited news from the Federal Reserve after signs of tighter supply and Chinese promises to boost the second-largest economy in the world.
By 09:30 ET (13:30 GMT),…
IEA warns that Europe could face a winter gas shortage if Russia stops supplying supplies
The International Energy Agency warned that Europe could still be in for a difficult winter, if Russia cut its gas supplies to Europe and if cold weather occurs.
The IEA stated that even if Europe’s gas storage facilities are close to…
The ‘white hydrogen’ under our feet is a limitless source of energy that could soon…
A disruptive technology that comes out of nowhere every few years completely changes the future of global energy systems, slamming us into our awareness like a loud thunderclap.
Around 2009-2011, shale fracking was a major…
The Age of Oil will End. These drilling stocks could be gushers.
Oil prices were dropping and crude demand was waning in 2020. Investors are realizing that oil is needed to power the world for many decades.
It was an historic decline for offshore rig providers over the last few years. The oil prices…
Church of England Pensions dump Shell due to oil risk
The Church of England Pensions Board will offload its stake in Shell Plc as part of a total exit from oil and gas, as the influential investor turns its back on companies it says are failing to address climate risks.
After years of…
Qatar to sign second LNG deal with China
Gulf state's energy minister expects 'several' European countries to sign long-term agreements this year .Qatar is set to secure a second huge gas supply deal with a Chinese state-controlled company in less than a year, in a sign of the…
The ‘Gatwick Gusher Oil Well’ faces its day of reckoning
It is not uncommon for pinstriped businessmen from Surrey to be involved in oil prospecting. One firm, however, captured the imagination in 2015 when it discovered what was called the "Gatwick Gusher", a oil deposit which could contain up…
Gas prices in Europe doubled within 10 days, as traders remained on edge
The European gas price has doubled within 10 trading days. This shows that the market is still on edge, even though storage levels are at record highs.
The price of European gas benchmark Title Transfer Facility, or TTF, rose by as much…
Shell increases dividends and abandons plans to reduce oil output
Shell's chief executive has tried to increase investor confidence by increasing its dividend, cutting spending and abandoning plans to reduce oil production every year.
The largest oil and gas company in Europe said that it will increase…
Ocado benefits from fewer bumps on the road
Ocado received a special delivery in the form of some upbeat broker commentary on Monday. Analysts at Exane BNP Paribas came away from its CEO conference last week with a feeling that the online grocer's "outlook and market sentiment are…