Finance

Source: Oil Price

U.S. to back Nevada lithium project with $2.26 billion loan

Oil Price


Lithium Americas Corp has received a conditional commitment for a $2.26-billion loan from the U.S. Department of Energy to help it build lithium processing facilities in Nevada, as the Biden Administration looks to support America-produced lithium and reduce …

Bahrain oil projects gets U.S. funding despite climate agenda

Bahrain oil projects gets U.S. funding despite climate agenda

Oil Price


The U.S. Export-Import Bank approved a loan guarantee of $500 million for a Bahrain oil project despite opposition from Democrats noting the move would compromise the Biden administration’s hard line on climate change.

Last month, the Export-Import Bank …

Source: Reuters

Exclusive-Weak bids in Citgo auction spurs Venezuela to pitch alternative pay plan

US News


HOUSTON/MIAMI (Reuters) -The highest bid received in a U.S. auction of shares that will decide the fate of Venezuela-owned oil refiner Citgo Petroleum was $7.3 billion, enough to cover only a third of court-approved claims, two people familiar

Source: Reuters

BP and ADNOC suspend $2-billion Israel gas deal as Gaza war continues

Oil Price


BP and the Abu Dhabi National Oil Company (ADNOC) have suspended talks to buy a 50% stake in Israel’s natural gas producer NewMed, due to uncertainty in the region, the Israeli company said on Wednesday.

In March 2023, …

Source: Reuters

Shell’s LNG trading head to step down weeks after posting $2.4 billion profit

Oil Price


Just weeks after posting $2.4 billion in trading profits from liquefied natural gas (LNG) in the fourth quarter of last year, the long-time head of Shell’s LNG, natural gas and power trading unit, Steve Hill, is stepping down, …

March 11, 2024 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance, LNG
PG&E Customers to Receive Up to $140.63 California Climate Credit on Spring Energy Bill

PG&E Customers to Receive Up to $140.63 California Climate Credit on Spring Energy Bill

PG&E Customers to Receive Up to $140.63 California Climate Credit on Spring Energy Bill …

March 11, 2024 - 12:06 pm Finance, Press Releases
Source: Reuters

Alberta’s ban on renewables could hurt C$11 bln in investments, says study

Yahoo Finance


OTTAWA – Canadian province Alberta’s ban on some renewable projects could hurt C$11.1 billion ($8.24 billion) in investments and stall up to 6.3 gigawatts (GW) of solar and wind power capacity, a study said on Monday.

The new …

Source: Reuters

Bank of America set to expand its energy transition business

Oil Price


Bank of America is looking to expand its business related to the energy transition, boosting carbon trading, and power and natural gas markets trading, senior executives have told Bloomberg.

Banks in the United States and Europe are …

Chart Industries Announces Credit Rating Upgrade from S&P Global Ratings

Chart Industries Announces Credit Rating Upgrade from S&P Global Ratings

ATLANTA, March 11, 2024 (GLOBE NEWSWIRE) — Chart Industries, Inc. (NYSE: GTLS) (“Chart&#x…

March 11, 2024 - 8:55 am Finance, Press Releases
Antero Resources Announces Redemption of Outstanding 4.25% Convertible Senior Notes Due 2026

Antero Resources Announces Redemption of Outstanding 4.25% Convertible Senior Notes Due 2026

Antero Resources Announces Redemption of Outstanding 4.25% Convertible Senior Notes Due 2026 …

March 11, 2024 - 7:30 am Finance, Press Releases
Bitfarms Announces $375 Million At-the-Market Equity Offering Program

Bitfarms Announces $375 Million At-the-Market Equity Offering Program

TORONTO, Ontario and BROSSARD, Québec, March 08, 2024 (GLOBE NEWSWIRE) — Bitfarms Ltd. (Nas…

March 8, 2024 - 5:37 pm Finance, Press Releases
Source: Reuters

Petrobras loses over $10 billion in market cap after dashing dividend hopes

Yahoo Finance


Petrobras has been a major cash cow for its shareholders in recent years, including the Brazilian government, with the prior management paying out far more than Western oil major peers.

Under new management picked by President Luiz Inacio …

Big Money Bets: 3 Stocks the Biggest Hedge Funds Are Buying

Big Money Bets: 3 Stocks the Biggest Hedge Funds Are Buying

2024-03-08 09:31:25 ET InvestorPlace – Stock Market News, Stock Advice & Trading Tips…

March 8, 2024 - 9:31 am Finance, Press Releases
Delek Logistics Partners, LP Announces Pricing of Public Offering of Common Units

Delek Logistics Partners, LP Announces Pricing of Public Offering of Common Units

Delek Logistics Partners, LP Announces Pricing of Public Offering of Common Units PR Ne…

March 7, 2024 - 10:54 pm Finance, Press Releases
Green Impact Partners Provides Update on GreenGas Colorado Investment Tax Credits and Announces Additional Insider Investment

Green Impact Partners Provides Update on GreenGas Colorado Investment Tax Credits and Announces Additional Insider Investment

Calgary, Alberta–(Newsfile Corp. – March 7, 2024) – Green Impact Partners Inc. (TSXV: GIP) (“GIP…

March 7, 2024 - 7:20 pm Finance, Press Releases
Delek Logistics Partners, LP Announces Proposed Public Offering of Common Units

Delek Logistics Partners, LP Announces Proposed Public Offering of Common Units

Delek Logistics Partners, LP Announces Proposed Public Offering of Common Units PR News…

March 7, 2024 - 4:07 pm Finance, Press Releases
Source: World Oil

YPF to exit aging Argentine oil fields to free $800 million for Vaca Muerta shale push

World Oil


(Bloomberg) – Argentina’s biggest oil and gas producer, state-run YPF SA, said its sweeping plan to divest aging oil fields will free up hundreds of millions of dollars to invest in its shale push in the heralded Vaca …

Bayridge Announces Subdivision of Shares and Private Placement

Vancouver, British Columbia–(Newsfile Corp. – March 7, 2024) – Bayridge Resources Corp. (CSE: …

March 7, 2024 - 6:00 am Finance, Press Releases
Canter Resources Closes Final Tranche of Its Non-Brokered Private Placement

Canter Resources Closes Final Tranche of Its Non-Brokered Private Placement

Vancouver, British Columbia–(Newsfile Corp. – March 5, 2024) – Canter Resources Corp. (CSE: CRC…

March 5, 2024 - 5:00 pm Finance, Press Releases
Source: Reuters

Africa’s richest person wants to create a trading firm for its biggest refinery

Oil Price


Aliko Dangote, the owner of Africa’s largest refinery and Africa’s richest person, is looking to set up a trading firm that would handle crude supply for the new mega refinery in Nigeria, Reuters reported on Tuesday, citing multiple …

Source: Reuters

TC Energy to sell Portland Natural Gas Transmission System for $1.14 bln

Nasdaq


TC Energy TRP.TO said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to a BlackRock-managed fund and Morgan Stanley Infrastructure Partners for $1.14 billion as part of its ongoing efforts to reduce debt and …

Energy trader Gunvor to pay over $660 million to settle US bribery case

Energy trader Gunvor to pay over $660 million to settle US bribery case

Investing


NEW YORK – Gunvor pleaded guilty on Friday to a felony charge of conspiring to violate a U.S. anti-bribery law and agreed to pay more than $660 million, marking the end of a long-running criminal probe into the big …

Source: Reuters

Global oil demand to grow by 1.9 mln bpd in 2024, says Wood Mac

Nasdaq


LONDON – Global oil demand will grow by 1.9 million barrels per day (bpd) this year, according to a prediction by energy research company Wood Mackenzie, a forecast close to the Organisation of the Petroleum Exporting Countries’ (OPEC) estimate …

Sitio Royalties reports fourth quarter and full year 2023 operational and financial results, recent developments, and provides full year 2024 guidance

Sitio Royalties reports fourth quarter and full year 2023 operational and financial results, recent developments, and provides full year 2024 guidance

Oil and Gas 360


Announces Definitive Agreement to Acquire 13,062 NRAS in the DJ Basin for $150 Million(1)

Announces $200 Million Share Repurchase Program and Updated Return of Capital Framework

Closed on Previously Announced Sale of Anadarko and Appalachia

Source: Reuters

Activist investor pushes for bolder action as bp “quietly” pivots back toward oil and gas

World Oil


(Bloomberg) – bp Plc is showing signs of a pivot back toward oil and gas that should boost returns, but is doing it too quietly to benefit its share price, according to activist investor Bluebell Capital Partners.

Four

Source: World Oil

APA to increase global oil and gas production in 2024 with $2 billion upstream investment

World Oil


(WO) – On Feb. 21, APA Corp. released its 2023 financial results and 2024 operational outlook. In the report, APA forecasted strong U.S. oil growth in 2024, approximately 8% year-over-year and more than 10% from fourth-quarter 2023 to …

Source: Oil Price

U.S. diesel exports to Europe slump as distillate markets tighten

Oil Price


U.S. diesel exports to Europe have tumbled so far in February amid lower refinery output and tighter supplies in America, which have decreased arbitrage opportunities and further tightened European diesel supplies.

Europe’s imports of U.S. diesel have nearly …

Source: Reuters

Top global energy traders face multi-billion cash quandary

Nasdaq


LONDON – As the world’s top global energy trading houses prepare for their biggest annual industry get-together this week in London they face a growing problem, what to do with their cash.

Most trading houses, which are privately owned …

February 26, 2024 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: Reuters

Shell earned $2.4 billion from LNG trading in Q4

Oil Price


Shell earned $2.4 billion from LNG trading in the fourth quarter amid strong demand for the fuel ahead of the winter, with LNG trades contributing to almost a third of its Q4 adjusted earnings, Reuters reported on Friday, …

February 23, 2024 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance, LNG
Source: Reuters

JPMorgan Chase, BlackRock drop out of massive UN climate alliance in stunning move

Fox Business


JPMorgan Chase and institutional investors BlackRock and State Street Global Advisors announced Thursday that they are quitting or, in the case of BlackRock, substantially scaling back involvement in a massive United Nations climate alliance formed to combat global …