(Bloomberg) — Shell Plc’s sale of a multibillion-dollar stake in a joint venture that operates oil fields in Nigeria has attracted bids from four local companies, according to people familiar with the negotiations. Seplat Energy Plc, Sahara Group Ltd., Heirs Oil and Gas Ltd. and ND Western Ltd. submitted the non-binding offers in January, sa...
(Bloomberg) — Oil shot across $90 for the first time since 2014 as winter weather in the U.S. threatened to shut in some production while geopolitical tensions continued to keep investors on edge. West Texas Intermediate rose as much as 2.4%, trading above $88 a barrel as traders doubted that all members of the OPEC+ coalition will be ab...
(Bloomberg) — TotalEnergies SE and its partners reached a final investment decision worth over $10 billion to produce Uganda’s oil discoveries and build a pipeline that will turn the landlocked East African nation into a significant crude exporter. The French major, along with Cnooc Ltd. and state-owned Uganda National Oil Company, announced...
Equinor’s Martin Linge field offshore Norway officially opened on January 27th. With good operational performance since the field came on stream in June and high oil and gas prices, the investments in the field are expected to be recovered in full during 2022. “Martin Linge has been a very challenging project to put on stream. Thanks to comp...
(Bloomberg) --OPEC and its allies are expected by delegates to stick to their plan and ratify another modest production increase next week as they try to satisfy rebounding oil demand. The 23-nation coalition led by Saudi Arabia and Russia will probably rubber-stamp a hike of 400,000 barrels a day for March, officials from about half of the grou...
SINGAORE (Bloomberg) --The oil market is running out of sellers in its surge to almost $90 a barrel. Whether it’s speculators, traders hedging their barrels in storage tanks or U.S. producers, some of the biggest drivers of bearish price movements have all retreated in recent months. As global stockpiles fall to seven-year lows, traders don...
(Bloomberg) --Eni SpA’s Norwegian joint venture, Var Energi AS, will apply for an initial public offering in Oslo on a bet there’s still investor demand for shares in oil and gas companies in Europe. The company is considering seeking a valuation of about $10 billion in the listing, people familiar with the plan said, cautioning the target m...
(Bloomberg) --The European Commission has been told by a key expert group that planned adjustments to its green rulebook risk raising greenhouse gas emissions and undermining the bloc’s reputation as a bastion for environmentally friendly finance. The Platform on Sustainable Finance, which is one of just two groups assigned the role of providi...
(Bloomberg) --Add Morgan Stanley to the list of banks expecting crude to reach $100 a barrel later this year. The bank expects stockpiles to slide even lower by the end of the year, after falling substantially in 2021, according to a research note to clients. Spare supply capacity will shrink to 2 million barrels a day from the current 3.4...
Energy Transfer LP said it agreed to supply natural gas to power plants in Texas owned by Vistra Corp. through the end of March as the two sides work through a billing dispute from last February’s winter storm. The two companies came to an agreement after Vistra filed a complaint earlier this week with oil and gas regulators, asking them to in...