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The financial week in five charts - Houthis and gilts, wildfires and more
Open Interest (ROI), every Friday, distills the past five days' financial activity into a series of charts that highlight the most important trends, surprises, and missed moves. 1. ALERT RED! RON BOUSSO is a columnist for ROI Energy. After the war broke out on February 28, the 'Strait of Hormuz' was largely closed.
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FT reports that BP is close to a deal to sell its solar business to a Kuwait-backed group.
The Financial Times reported that BP has advanced discussions to sell its Lightsource solar business to a consortium backed Kuwait's sovereign fund. The energy giant is focusing on oil and natural gas in order to boost?returns. The report, citing sources familiar with the situation…
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Argent LNG receives US approval to export to countries with free-trade agreements
The U.S. Department of Energy authorized?Argent?LNG to sell liquefied gas from its proposed Louisiana terminal to countries with free-trade agreements that include the U.S. This is a major federal approval for the developer as it moves towards a final decision on the project. Argent LNG, a privately-held U.S.
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Baker Hughes reports that US energy companies have cut back on drilling for the first time in six-weeks.
Baker Hughes, a closely-followed energy'services' firm, said in a report on Friday that U.S. firms have cut back the number of operating rigs for the first six weeks. Total oil and gas rig counts, an indicator of future production, dropped by one in the week ending July 24. This is the lowest level since mid-July.
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Bloomberg News reports that Devon Energy is considering a $4 billion sale for its Eagle Ford and Powder River assets.
Bloomberg News, citing sources familiar with the situation, reported that U.S. oil producer Devon Energy is considering a possible sale of its Eagle Ford and Powder River shale assets, which could fetch more than four billion dollars. Investors continue to pressure Devon Energy to…
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Saipem, Italy's Saipem, lowers its earnings forecast for 2026 due to the Middle East crisis
Saipem, an Italian oil and gas contractor, revised its expectations for core earnings in 2026 to take into account additional…
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Baker Hughes predicts lower oil and gas spending in 2026
Baker Hughes announced on Monday that it expects global oil and gas producers to reduce their annual spending modestly in this year.
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Apollo Global to invest $1.5 billion in Keppel oil rig fund
The two companies announced on Monday that Apollo Global Management will invest $1.5 billion into Keppel, a Singaporean company.
Latest news
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Malawi installs the first utility-scale solar battery
Malawi completed the installation of the only utility-scale storage system in southern 'Africa outside South 'Africa and Namibia.
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Baker Hughes, a provider of oilfield services, beats Q2 earnings estimates
Baker Hughes reported a stronger-than-expected second quarter as the oilfield ?services and energy technology company benefitted…
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Low Danube levels cause output of Serbia's largest hydropower plant to fall by a third
The CEO of the state-owned power utility EPS stated late Friday that Serbia's largest hydropower plant Djerdap 1 is only…
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Bloomberg News reports that HF Sinclair has sued the EPA over delays in a decision on biofuel exemption.
HF Sinclair has filed a lawsuit against the?U.S. Bloomberg News reported?on Friday that the Environmental Protection Agency…
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Canadian Solar opens US Solar Cell Factory in Indiana
Canadian Solar has opened a new solar cell manufacturing facility in Indiana. The company claims that this will fill a major gap in U.S.
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NextEra Energy beats second-quarter profit estimates
NextEra Energy beat Wall Street expectations for the second quarter adjusted profit on Friday. This was due to increased…
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Top US oilfield services firm SLB beats quarterly profit estimates
SLB beat Wall Street expectations for the second quarter profit on Friday as resilient demand in key'markets' helped the top U.S.
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EU sugar outlook dims due to dry weather hitting beet crops
Analysts and growers say that the outlook for sugar production in Europe has been weakened by a severe drought which hit…
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Palm oil reaches 15-week peak on Dalian strength and oil, with a third weekly gain.
Malaysian palm oil futures reached a 15-week peak on Friday. This was due to strong oil prices, and the rebound of 'Dalian palm olein Futures.
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Sources say that oil executives are rushing to complete the contract migration in Venezuela.
Four sources said that the Venezuelan oil ministry told the?partners?of the state energy company PDVSA it would maintain…
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TotalEnergies CEO: Arctic LNG 2 plant to be closed in Russia
Patrick Pouyanne, the CEO of TotalEnergies, announced on Thursday that it would be selling its stake in Russia's Arctic LNG 2 facility.
Shale Oil & Gas
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Top US oilfield services firm SLB beats quarterly profit estimates
SLB beat Wall Street expectations for the second quarter profit on Friday as resilient demand in key'markets' helped the top U.S.
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Sources say that oil executives are rushing to complete the contract migration in Venezuela.
Four sources said that the Venezuelan oil ministry told the?partners?of the state energy company PDVSA it would maintain…
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In July, Russia's oil revenues increased by 60% year-on-year
Calculations showed that the rise in oil prices globally has led to a '60% increase in the state revenue of Russia in July…
LNG
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US LNG Tanker Completes First Direct Sail to China Since Tariff Dispute
A vessel carrying U.S. liquefied natural gas has sailed directly from the U.S. to China for the first time since trade tensions…
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Argent LNG, Naftogaz to Explore US LNG Supply
Argent LNG and Ukraine's state energy company Naftogaz Group have signed a memorandum of understanding to explore long-term U.S.
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Australian Inpex Workers Set Industry Precedent With New Pay Deal
Workers at Inpex's Ichthys liquefied natural gas plant in Darwin have overwhelmingly backed a new pay deal that unions hope…
Renewables
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NextEra Energy beats second-quarter profit estimates
NextEra Energy beat Wall Street expectations for the second quarter adjusted profit on Friday. This was due to increased…
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EU sugar outlook dims due to dry weather hitting beet crops
Analysts and growers say that the outlook for sugar production in Europe has been weakened by a severe drought which hit…
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Palm oil reaches 15-week peak on Dalian strength and oil, with a third weekly gain.
Malaysian palm oil futures reached a 15-week peak on Friday. This was due to strong oil prices, and the rebound of 'Dalian palm olein Futures.
