Bloomberg News reports that oil magnate Sargeant's firm loaded 1 million barrels of oil for China.
North?American Blue Energy is a company that has been backed by the United States. Harry Sargeant III is a renowned energy magnate who has made a decision to export?1,000,000 barrels of?Venezuelan oil for delivery into China. Bloomberg News reported this on Monday, citing an official document. Reports?stated…
Bloomberg News reports that Raizen owners have ended talks to save struggling sugar producer.
Bloomberg News reported that talks to rescue Brazilian sugar producer and ethanol maker 'Raizen' have broken down after Cosan and Shell failed to agree on a plan to raise capital. Shell's Brazil CEO had earlier in the day said that the company would invest 3.5 billion reais (662.75 millions)?into the world's biggest sugar producer.
OPEC+ could consider a larger increase in oil production, according to sources after the Iran strike
Two sources said that OPEC+ could consider a bigger than planned 'output increase' on Sunday. Leading producers Saudi Arabia and?UAE had already boosted exports to prepare for a possible oil disruption due to the U.S. - Israel attack on Iran. The eight members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies…
ADNOC offers partners more Murban crude ahead of the OPEC+ meeting, sources and reports say
Abu Dhabi will 'export' more of its Murban crude, according to Bloomberg News and two trade sources. This will add to the already abundant supply from Middle East producers. Bloomberg reported that the state-owned Abu Dhabi National Oil Co. offered to increase volumes for partners in the onshore concession of the country, citing people who were familiar with the plans.
Reports from FT say that Eni, the Italian oil and gas company, is considering a return to trading.
Italian energy major Eni ?is weighing re-entering oil ?and ?gas trading ?as it seeks the outsized returns enjoyed by BP, Shell and TotalEnergies, amid geopolitically-driven price volatility, the Financial Times reported on Wednesday. Claudio Descalzi,?Eni's Chief Executive, told FT that he stopped trading in 2019, but other large companies were still traders.
Sources say Mercuria is moving closer to purchasing Raizen's Argentine assets worth over $1 billion.
According to two sources familiar with the situation, a Swiss-founded energy company Mercuria Energy Group is advancing in its bid to purchase a'refinery' and a large number of gas stations located in Argentina. The acquisition would be from Raizen, a Brazilian sugar and ethanol producer in financial trouble.
Sources say Mercuria is moving closer to purchasing Raizen's Argentine assets worth over $1 billion.
According to two sources familiar with the situation, Mercuria Energy Group is advancing in its bid to purchase a refinery in Argentina and hundreds of gas stations from Raizen, a Brazilian sugar and ethanol producer in financial trouble. A source told us that the deal may be done soon, but there is still a chance it won't be.
Shell stops further Kazakhstan investment due to legal disputes, CEO states
Shell has halted new investments in Kazakhstan due to legal actions taken by the government against the oil giant and other international companies over cost disputes. CEO Wael sawan confirmed this. Kazakhstan has been in conflict with international oil companies for many years. It launched arbitration…
Shell stops further Kazakhstan investment due to legal disputes, CEO states
Shell has halted new investments due to legal actions launched by the government against it and other international companies for cost disputes. CEO Wael Sawan said that Shell would halt its new investments because of the legal proceedings. Kazakhstan has been in conflict with international oil companies for many years.
Shell CEO: We want to export Venezuelan Gas through Trinidad
Wael Sawan, the CEO of Shell, told Bloomberg TV that he hopes to have the?gas produced from Venezuela's Dragon Field in three years and then processed in Trinidad and Tobago before export. Shell and Trinidad are trying to increase natural gas supplies to Trinidad's Atlantic LNG Export Facility and the…
Sources say that Nscale, a UK AI company backed by Nvidia, has hired banks to prepare for its IPO.
People familiar with the situation said that Nscale Global Holdings, a British artificial intelligence company backed by Nvidia, has hired Goldman Sachs and JPMorgan in order to prepare for a public offering. Sources who asked not to be named because the discussions were private said that the timeline for a potential listing had not been determined.
Source: US shale producers Coterra and Devon are in advanced merger talks.
Sources familiar with the matter said that Coterra Energy and Devon Energy, two U.S. producers of shale gas, could announce a merger agreement as soon as next week. The combination of U.S. energy companies would be?among?the largest in recent years. Both companies are active in multiple shale formations.
Bloomberg News reports that energy firms could be facing a $4 billion payout if they lose the Karachaganak Arbitration.
Bloomberg News, citing sources familiar with the situation, reported that an international consortium working on the Karachaganak oil field lost a?arbitration suit brought by Kazakhstan. They could be liable for compensation of up to $4?billion, Bloomberg News said. The oil project in Kazakhstan is run by a consortium that includes?Eni, Shell and other partners.
Sources say that OPEC+ is likely to continue its oil production pause in March, despite the rising prices.
Three OPEC+ delegates said that OPEC+ was expected to maintain its pause in oil production?increases during a Sunday meeting. Prices are rising because of a 'drop in Kazakhstan oil production. Eight members of OPEC+ met to discuss the price of oil. Prices have risen by 8% this month, and now exceed $66 a barrel.
Bloomberg News reports that the US is seeking quick fixes to boost Venezuelan oil production.
Bloomberg News, citing senior officials in the administration, reported that the United States is in discussions with Chevron and other major oilfield service providers about a plan for Venezuela to increase its crude production quickly. The?report stated that officials have discussed the deployment…
UAE's ADNOC weighs Venezuela gas investment, Bloomberg News reports
Bloomberg News, citing sources familiar with the situation, reported that the?state oil company of Abu Dhabi, ADNOC, is considering entering Venezuela's energy industry. It could also seek a partnership to participate in Venezuela's gas projects with?another? international producer. Could not verify the report immediately.
Sources say that the Italian government is poised to support a new mandate for Eni CEO
Three sources said that Italy's Prime minister Giorgia Meoni was ready to support Eni CEO Claudio Descalzi in a bid to extend his tenure as the group's longest-serving leader for another three-year period. Descalzi is 70 years old and has been Eni's chief executive officer since 2014. He began his career…
Source: Rio Tinto consults with three banks on possible Glencore acquisition.
Rio Tinto has hired JPMorgan, along with two other advisers, to help it evaluate its potential acquisition of Glencore. This deal could create the largest miner in the world, worth over $200 billion, according to a source familiar with the situation. Rio Tinto also has Macquarie and Evercore, according to the source.
Bloomberg News reports that Eneos, a Japanese company, is the leading bidder for Chevron Singapore's oil refinery stake.
Bloomberg News reported that Eneos, Japan's largest oil refiner, is leading rival bidders to acquire Chevron's stake in a Singapore refinery. The deal, however, could still be delayed, according to people familiar with the matter. The value of the refinery as a whole is estimated at $1 billion. Global…
Source: Crypto exchange Hashkey raises $206 million in Hong Kong IPO
HashKey Holdings is Hong Kong's biggest licensed crypto exchange and will?raise approximately HK$1.6billion ($206m) after pricing their Hong?Kong IPO at HK$6.68 a share, a reputable source said on Monday. HashKey has launched its IPO last Thursday, offering 240.6 millions shares at HK$5.95 - HK$6.95 per share. The company has not responded to a comment request.