Citigroup – Oil & Gas 360

Citigroup: Sanctions, tight supplies and U.S. policy to drive oil prices higher

January 22, 2025

(Oil Price) – Analysts at Wall Street bank Citigroup have predicted that oil prices will remain elevated in 2025 thanks to U.S. sanctions on oil exports, logistical challenges and strategic policy decisions by major producers and governments. Citigroup notes that Over 180 vessels, integral to transporting Russian crude, are now restricted. Two weks ago, the Biden administration issued sanctions against Russian crude, and

Green energy stocks sink as Trump wins US election

November 6, 2024

(Yahoo Finance) – Shares in renewable energy firms plunged after Donald Trump won a second term as president of the United States on a platform that promises to boost fossil fuels and undo the green agenda of his predecessor. US clean energy stocks suffered in pre-market trading in New York, especially solar firms. Sunnova Energy International Inc. (NOVA) was down

BKV Corporation announces launch of Initial Public Offering

September 16, 2024

Oil and Gas 360 DENVER, September 16, 2024 – BKV Corporation (“BKV”) today announced that it has launched the initial public offering of 15,000,000 shares of its common stock. The underwriters will have a 30-day option to purchase an additional 2,250,000 shares from BKV at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected

Saudi Aramco’s $12 billion share sale sells out in mere hours

June 3, 2024

World Oil (Bloomberg) – Saudi Aramco’s $12 billion share sale sold out shortly after the deal opened on Sunday, in a boon to the government that’s seeking funds to help pay for a massive economic transformation plan. The government had demand for all shares on offer in a few hours after books opened, according to terms of the deal seen

Citigroup: OPEC+ needs to maintain oil production cuts through 2024 to balance global market

December 12, 2023

World Oil (Bloomberg) – OPEC+ will need to maintain its latest oil production cuts throughout next year in order to keep the global market in balance, according to Citigroup Inc. OPEC and its allies have announced that it will cut production by a further 900,000 bpd during the first quarter, and may prolong the measures if necessary. The 23-nation group led

Citigroup sees gas at $100/MMBtu, if winter is cold enough

September 23, 2021

World Oil SINGAPORE (Bloomberg) –Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as $100 per million British thermal units in the event of a particularly cold winter. Liquefied natural gas prices are skyrocketing as seasonally low European inventories, booming Chinese demand and supply constraints from

Ex-Citigroup CEO Sandy Weill calls Morgan Stanley and Charles Schwab ‘very good buys’

June 12, 2020

CNBC Sandy Weill, the former Citigroup CEO and chairman who helped create the megabank model in the 1990s, said Friday that Morgan Stanley and Charles Schwab were “really very good buys.” Bank stocks have been hammered this week, giving back recent gains tied to the reopening of the U.S. economy, in part because the Federal Reserve said it would keep its benchmark rate near zero through

Quintana Energy Services Names New CEO

August 8, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Christopher J. Baker named president and CEO of Quintana Energy Services Quintana Energy Services (stock ticker: QES), an onshore oilfield services company operating across the United States, has named Christopher J. Baker as its president and chief executive officer, effective immediately. Baker will replace former CEO Rogers Herndon, who has resigned

IEA, Citigroup Say U.S. Production Drops of up to 500 MBOPD are on the Horizon

September 11, 2015

The International Energy Agency (IEA) expects non-OPEC production to drop by nearly 500 MBOPD in 2016 as a result of declining activity in the new commodity environment. The projection, made in the Agency’s Oil Market Report for September, reinforces a Citigroup forecast earlier in the week that said United States volumes alone could fall by as much as 500 MBOPD by

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