Reuters LONDON – Oil prices hovered near three-month peaks on Thursday, buoyed by falling U.S. crude inventories and thawing trade relations between the United States and China. Brent crude futures were up 19 cents at $66.36 a barrel at 1447 GMT, heading for their sixth straight day of gains. U.S. West Texas Intermediate (WTI) crude rose 7 cents to $61.00
WaterBridge Announces Closing of $345 Million of Additional Equity Capital to Fund Strategic Acquisitions
Reuters JP Morgan on Tuesday raised its oil price outlook and forecast supply-demand balance to tighten next year against the backdrop of the OPEC and its allies increasing output cuts and stronger economic growth in emerging markets. The investment bank revised its Brent price forecast to $64.5 per barrel in 2020 from $59 earlier, although it expects prices to slip
Houston Chronicle WASHINGTON – The investment bank Goldman Sachs is committing to make available $750 billion over the next decade to invest in and finance cleaning up the energy industry, along with making farming more sustainable and reducing poverty, the company said Monday. In an op-ed in the Financial Times, Goldman CEO David Solomon wrote, “companies have traditionally treated sustainability
Houston Chronicle Switzerland and Houston-based oilfield service company Weatherford International has emerged from Chapter 11 bankruptcy with roughly $10 billion of financial support. In a Friday morning statement, Weatherford announced that the company emerged from Chapter 11 with $6.2 billion of outstanding funded debt, secured $2.6 billion in exit financing facilities, including a $450 million revolving credit facility, secured a
Houston Chronicle Saudi Aramco raised $25.6 billion from the world’s biggest initial public offering, closing a deal that became synonymous with the kingdom’s controversial crown prince and his plans to reshape the nation. The state-owned oil giant set the final price of its shares at 32 riyals ($8.53), valuing the world’s most profitable company at $1.7 trillion. It received total
Reuters DUBAI/LONDON – After battling it out for a role in a giant IPO that promised to make history, and enduring delay after delay, investment banks advising Saudi Aramco are set to be rewarded with relatively slim pickings. The 25 banks working on the listing will earn combined fees of $90 million or less, according to three sources involved in
Reuters The largest banking lenders to the U.S. oil and gas sector are becoming more cautious, marking down their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on struggling producers, industry and banking sources said. Major banks including JPMorgan Chase (JPM.N), Wells Fargo (WFC.N), and Royal Bank of Canada (RY.TO)
Houston Chronicle Roughly a month after its stock plummeted in value by 75 percent, Houston oil field service company McDermott International has landed $1.7 billion in new capital. In a Monday morning filing with the U.S. Securities and Exchange, McDermott entered into a credit deal with Barclays Bank, Crédit Agricole Corporate and Investment Bank and five other financial institutions. Under
Source: Reuters DUBAI/RIYADH (Reuters) – Oil giant Saudi Aramco’s much-vaunted stock market listing was delayed after deal advisers said they need more time to lock in cornerstone investors, three sources with direct knowledge of the matter told Reuters. After a false start last year, preparations gathered momentum this summer with approaches to sovereign wealth funds, rich Saudis and large foreign
Source: Reuters NEW YORK (Reuters) – Oil prices fell more than 1% on Monday after comments from a U.S. official stymied hopes that a U.S.-China trade deal would be reached soon, prompting renewed concern that a slowing global economy would reduce demand for oil. Brent crude LCOc1 futures fell 89 cents, or 1.5%, to $58.53 a barrel by 10:35 a.m.
Source: Reuters DUBAI/RIYADH (Reuters) – Saudi Aramco (IPO-ARMO.SE) has delayed the planned launch of its initial public offering (IPO), as the giant oil company wants to update investors with its latest earnings before proceeding, two sources familiar with the matter said on Thursday. The world’s largest oil firm was to announce plans next week to float a 1% to 2%
