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.
Carnelian, a buyout firm, raises eyebrows by trying to sell multiple assets in the energy sector.
Carnelian Energy Capital is selling six of its North American oil-and-gas production investments. This comes at a time when private equity firms are under increasing pressure to return more cash to investors and increase their exits. The move, which represents most of Carnelian's oil and gas producing companies…
EDF considers selling the US renewable unit in full to concentrate on French nuclear
EDF, the French state-owned utility, is looking at selling all of its U.S. Renewable Energy business, according to its CEO on Wednesday. The company has a focus on developing its nuclear operations in France, while U.S. wind and solar support has been reduced. Bernard Fontana, who spoke on the sidelines at the Adopt AI Conference in Paris…
BB Energy, a Houston-based trader, has parted ways with several Houston traders as part of a major reorganization.
Sources familiar with the situation said that commodities trader BB Energy laid off more than a dozen employees from its Houston office and parted ways with some oil traders as part of a major restructuring. A spokesperson for BB Energy confirmed that the company had made adjustments to focus its efforts on its most profitable core businesses…
Commodities trader BB Energy lays some Houston traders off in major reorganization
Sources familiar with the situation said that BB Energy, a commodities trader, has cut over a dozen employees from its Houston office. This includes oil traders. The move is part of a major restructuring. A spokesperson for BB Energy confirmed that the company had made changes in order to focus its efforts…
PowerChina focuses on renewables for growth in Africa
A company executive revealed that China's Power Construction Corp. (PowerChina), a state-owned corporation, is targeting significant growth in Africa by focusing on renewable projects as part its overseas expansion strategy. Chinese lending to African countries has dropped sharply since a peak in 2016 of around $28 billion per year…
Bloomberg News reports that Repsol is considering merging its upstream unit with APA.
Bloomberg News, citing sources with knowledge, reported Thursday that Repsol SA, Spain's largest refinery operator, is considering a reverse merge of its upstream division with potential partners. This includes U.S. energy company APA. APA shares rose 7.1% to $25.59. In 2022, Repsol entered into an agreement…
TotalEnergies considers selling some Asian renewable energy assets
A spokesperson for TotalEnergies said that the company is considering selling some renewable energy assets located in Asia as a way to reduce its debt. Bloomberg first reported the news that the assets in question could be worth several hundred millions of dollars. The spokesperson confirmed this. Patrick Pouyanne…
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The French parliament voted on Wednesday to suspend the controversial pension reform, as budget bills for next year are pushed through under constant threats to the survival of the government.
The cold weather forecast is driving up gas prices in the Netherlands and Britain
The wholesale prices of Dutch and British gas rose on Wednesday morning as the colder weather forecast increased demand. LSEG data revealed that the benchmark Dutch front-month contract for the TTF hub had increased by 0.34 euros to 31.50 Euros per Megawatt Hour (MWh), or $10.67 /mmBtu at 0913 GMT. The Dutch day-ahead rate was 30.75 euros/MWh, up 0.55 Euro.
Lukoil Struggles to Maintain Overseas Operations Amidst Sanctions
Russian oil major Lukoil is struggling to keep operations running at its sprawling foreign businesses as Western sanctions disrupt oil loadings in Iraq, pump stations in Finland and trading in Switzerland, sources said.The United States and the United Kingdom last month imposed sanctions on Russia's second-largest oil company…
Bloomberg News reports that Kennedy has directed the CDC to investigate the alleged harmful effects of offshore wind farms.
Bloomberg News, citing sources familiar with the issue, reported that U.S. health secretary Robert F. Kennedy Jr. had ordered the Centers for Disease Control and Prevention to investigate the potential harms caused by offshore wind farms. The move is part a larger push by the Trump Administration to scrutinize offshore development…
Bloomberg News reports that Exxon is planning to return to Iraq in order to explore the Majnoon oilfield.
Bloomberg News, citing sources familiar with the situation, reported that Exxon Mobil may re-enter Iraq after nearly two years by signing agreements to lay the foundation for exploring the Majnoon oil field. Majnoon Oil Field is located 60 km from Basra, in southern Iraq. It has an estimated 38 billion barleys of oil.
Sources say that OPEC+ is considering a larger increase in oil production
OPEC+ will likely consider a higher oil production increase for November of 411,000 barrels a day at its meeting on Sunday, as the rising oil prices encourages the group to attempt to regain market share. OPEC+ reversed its previous strategy of cutting output and has already increased quotas to more than 2,5 million bpd or 2.4% of global demand to increase market share.
Bloomberg News reports that Exxon Mobil will cut 2,000 jobs as part of a restructuring.
Bloomberg News reported that Exxon Mobil, a U.S. energy giant, will lay off 2,000 employees globally as part a long-term reorganization plan. This is the latest in a series of job losses this year within the oil and gas sector. The report cited a memo sent by CEO Darren Woods, which stated that the reductions represented between 3% and 4% of global staff.
Bloomberg News reports that Glencore is in talks with Kamoto Copper Co to sell its stake.
Bloomberg News reported that Glencore, a miner and trader, has been in discussions about selling its controlling stake in an entity that runs a large copper and cobalt operation in the Democratic Republic of Congo. The news comes just a month after Glencore - the second largest cobalt mining company…
Strathcona Waterous is confident in MEG Energy's response to the sweetened offer
The Strathcona Resources executive chair is confident that his sweetened bid to purchase MEG Energy, which is expected to be made by Monday, will win a heated bidding battle. Calgary-based MEG Energy said that it would respond to Strathcona's revised offer made earlier in the week for the acquisition of the company.
Bloomberg News CEO: Cenovus is 'closing doors' on a higher bid for MEG Energy
Cenovus Energy, Canada, does not intend to increase its bid for MEG Energy, an oil sands producer, despite Strathcona Resources' higher offer, according to its CEO Jon McKenzie, who spoke with Bloomberg News on Tuesday. MEG shares fell by 2%, to C$28.54. Cenovus shares rose more than 3 % to C$23.28.
India to Continue Buying Russian Oil Despite US Tariffs
India will continue to buy Russian oil as it proves economical, its finance minister said on Friday, despite the Trump administration's decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow.As Europe and the U.S. have shunned Russian oil over Moscow's 2022 invasion of Ukraine…