Knight Vinke's founder says that his fund cannot invest in the uncertain US under Trump
Eric Knight stated that his hedge fund could not invest in the United States with President Donald Trump as the risks were too high. However, profits can be made in Europe because there are clearer rules and policies regarding green energy projects. Knight Vinke Asset Management, based in Monaco, sold "the last" of its U.S. investments in August. This was revealed in an interview with its CEO and founder Knight. A letter sent to investors by the fund showed that it would return 17.9% by 2025. Knight founded the fund in 2003, and he made his name by urging Shell to merge into one company in 2005.
Knight Vinke's founder says that his fund cannot invest in the uncertain US under Trump
Eric Knight, a hedge fund manager, said that his fund could not invest in the United States with President Donald Trump as the risks were too high. However profits can be made by investing in Europe where the rules and policies regarding green energy projects is more predictable. Knight Vinke Asset Management, based in Monaco, sold its 'last' U.S. assets in August. This was revealed in an interview with its CEO and founder Knight. A letter sent to investors by the fund showed that it would return 17.9% by 2025. Knight founded the fund in 2003, and he made his name by urging Shell to merge into one company in 2005.
Baker Hughes reports that US drillers added oil and gas rigs in the US for the second consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and natural gas rigs this week for a second consecutive week for the first since December. The number of oil and gas drilling rigs, a good indicator of future production, increased by two in the week ending January 30 to 546, its highest level since December. Baker Hughes reported that despite this week's increase in rigs the total count is still 36 rigs or?6% lower than this time last year. Baker Hughes reported that oil rigs remained at 411 in this week.
Oil Prices Surge 3% on Worries of US Action Against Iran
Oil prices climbed about 3% to a five-month high on Thursday on rising concerns that global supplies could be disrupted if the U.S. decides to attack Iran, one of the biggest crude producers in OPEC.Brent futures rose $2.10, or 3.1%, to $70.50 a barrel by 11:07 a.m. EST (1607 GMT), while U.S. West Texas Intermediate (WTI) gained $2.09, or 3.3%, to $65.30.That pushed both crude benchmarks into technically overbought territory and put Brent on track for its highest close since July 31 and WTI on track for its highest close since September 26.U.S.
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. Each of them holds a stake of 29.25%. Chevron has 18% of the project, Lukoil 13.5% and KazMunayGaz 10%. The court hasn't yet determined the final amount that the consortium must pay.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, an energy services company, said in a closely-followed report published on Friday that U.S. firms added oil and gas rigs this week for the first time since three weeks. The number of oil and gas drilling rigs, a good indicator of future production, increased by 1 in the week ending January 23. Baker Hughes reported that despite this week's increase in rigs the total count is still 32 rigs lower than it was at this time last year. Baker Hughes reported that oil rigs rose by one to 411 in the past week. Gas rigs, however, remained unchanged at 122.
Bousso: Trump offers US oil companies in Venezuela a poisoned cup
Donald Trump, the president of the United States, is offering U.S. companies an opportunity to revitalize Venezuela's vast and derelict petroleum industry. This is an offer that they might not want to accept. U.S. Representatives of the Trump administration will meet with oil executives this week to discuss increasing Venezuelan oil production. Monday is a holiday. Exxon Mobil and ConocoPhillips may find it attractive to tap Venezuela's vast reserves of oil - the largest in the world at over 300 billion barrels or about one-fifth the global stock. Venezuela's oil production has a huge potential for?increase?. After years of mismanagement, and U.S.
Bousso: Trump offers US oil companies in Venezuela a poisoned cup
Donald Trump, the president of the United States, is offering U.S. companies an opportunity to revitalize Venezuela's vast and derelict petroleum industry. This is an offer that they might not want to accept. U.S. Representatives of the Trump Administration plan to meet with oil executives this week in order to discuss increasing Venezuelan oil production. Monday is a holiday. Exxon Mobil and ConocoPhillips may find it attractive to tap Venezuela's vast reserves of oil - the largest in the world at 300 billion barrels or roughly one-fifth the global stock. Venezuela has a huge potential to increase its oil production. After years of mismanagement and U.S.
US Natural Gas Futures Fall Ahead of Warmer Weather, Slow Demand
U.S. natural gas futures began the year on a weak note on Friday, weighed down by forecasts for warmer weather and expectations of slower demand growth.Front-month gas futures for February delivery on the New York Mercantile Exchange were 9.6 cents, or 2.6%, lower at $3.59 per million British thermal units. The contract posted a 1.5% gain in 2025, after rising over 44% in 2024. "There were concerns that the La Nina was breaking down a little bit, leading to warmer temperatures. There's also some concern internationally of LNG supplies supposedly building faster than anticipated…
US Natural Gas Falls Over 5% Ahead of Above Normal Temperatures
U.S. natural gas futures fell over 5% on Tuesday, pressured by forecasts of above normal temperatures next week, though the market was set for a second consecutive yearly gain led by record gas flows to liquefied natural gas export plants. Front-month gas futures for February delivery on the New York Mercantile Exchange traded 20.3 cents lower, or 5.1%, to $3.77 per million British thermal units. The contract was up over 4% so far this year. "The weather factor continues to dominate near-term price direction and with latest updates to the 1–2-week forecasts, some further price pressure would appear likely," consultancy Ritterbusch & Associates said in a note.
Baker Hughes reports that US drillers added oil and gas rigs in the US for the second consecutive week.
Baker Hughes, an energy services company, said that U.S. firms added oil and natural gas rigs this week for the second consecutive week. The oil and gas rig counts, an early indicator of future output, increased by one in the week ending December 30 to reach 546, its highest level since December 12. Baker Hughes released its rig count report early because of the New Year's Day holidays. Baker Hughes reported that despite a?this week rig increase?, the total number of rigs was still 7.3% lower than this time last year. Baker Hughes reported that oil rigs rose by three this week to 412…
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Energy services firm Baker Hughes said that U.S. firms added oil and gas rigs this week for the first time in 3 weeks. The number of oil and gas rigs, a good indicator of future production, increased by three in the week ending December 23. Baker Hughes has released its rig count report several days earlier than usual due to the Christmas Day holidays. Baker Hughes reported that despite this week's increase in rigs, the total count is still down by 44 rigs since?this time last. This represents a 7.5% decline. Baker Hughes reported that the number of oil drilling rigs rose by three this week to 409, while gas drilling rigs remained unchanged at 127.
Baker Hughes reports that US drillers have cut their oil and gas rigs a second time in a week.
Baker Hughes, an energy services company, said that the U.S. firms have cut back on the number of oil and gas rigs for a second consecutive week for the first time since August. The number of oil and gas rigs, a good indicator of future production, dropped by six in the week ending December 19. This is the lowest since September. Baker Hughes reported that oil rigs dropped by eight this week to 406; their lowest level since September 2021. Gas rigs remained at 127, and miscellaneous?rigs increased by two to 9. Oil and gas rig counts are expected to decline by 5% in 2024, and by 20% in 2023. This is because lower U.S.
Baker Hughes reports that US drillers have cut back on oil and gas rigs a second time in the last three weeks.
Baker Hughes, a leading energy services company, said that U.S. firms cut back on the number of natural gas and oil rigs for a second consecutive week in its closely watched report published Friday. The oil and natural gas rig count fell to 548, the lowest level since November 26, a good indicator of future production. Baker Hughes reported that oil rigs increased by one this week to 414, the highest since November 21. Gas rigs dropped by two to 127. Oil and gas rig counts?declined about 5% by 2024, and 20% by 2023. This is because lower U.S.
Shell In Advanced Discussions to Buy LLOG Exploration for Over $3B
Shell is in advanced discussions to buy LLOG Exploration offshore in a deal valued at more than $3 billion. This would increase the oil major's portfolio of upstream oil and gas producers by acquiring one of the biggest privately owned oil and natural gas producers in the U.S. Gulf. Sources said that the parties were in advanced talks, and that an agreement was close. One source added that the deal could be signed by the end the year.Sources?advised that there is no guarantee that a deal would be reached between Shell and Covington, Louisiana based producer and spoke under?conditions of anonymity for private deliberations.Shell declined to make a comment.
Baker Hughes reports that US drillers have added rigs to their fleet for the fourth time in just five weeks.
Baker Hughes, a leading energy services company, said that U.S. companies added drilling rigs this week for the fourth time within five weeks. The number of oil and gas drilling rigs, a good indicator of future production, increased by five in the week ending December 5. This is its highest level since late November. Baker Hughes reported that oil rigs increased by six this week to 413, the highest level since late November. Gas rigs, on the other hand, fell by one, to 129, which is their lowest level since late November. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S.
In Brazil, oil majors have united to oppose the Subsea7/Saipem merger
Public documents show that oil majors in Brazil are united against a merger proposed between energy contractors Subsea7 & Saipem. Cade, the antitrust agency, has requested new data from both firms on Friday for its investigation. In a filing in November to Cade, the Brazil oil industry group IBP stated that a new company, called Saipem7 would be strong enough to impose extra costs, delay projects, and force some clients into exclusive, long-term contracts. Cade, weeks after IBP's comment, which represents the oil majors of Brazil, sent Cade a request for additional data on Friday. Cade said it was lacking the information needed to analyze the proposed merger.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleets for the third consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the third consecutive week for the first since September. In the week ending November 21, the oil and gas rig counts, a good indicator of future production, increased by five, to 554 - its highest level since June. Baker Hughes reported that oil rigs increased by two this week to 419, the highest level since October. Gas rigs also rose by two, to 127. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S.
US Natural Gas Futures Ease 1% on Ample Gas in Storage
U.S. natural gas futures eased about 1% on Thursday on near-record output and ample amounts of gas in storage despite near-historic flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher demand over the next two weeks than previously expected.The price decline also came despite a federal storage report that showed energy firms pulled gas out of storage for the first time this winter during last week's cold weather.Front-month gas futures for December delivery on the New York Mercantile Exchange fell 3.7 cents, or 0.8%, to $4.513 per million British thermal units (mmBtu) at 10:33 a.m. EST (1533 GMT).The U.S.
Baker Hughes reports that US oil and gas drillers have added rigs to their fleet for the third time in just four weeks.
Baker Hughes, a leading energy services company, said that U.S. energy companies added oil and gas rigs this week for the third consecutive time in just four weeks. The number of oil and gas rigs, a good indicator of future production, increased by two in the week ending November 7 to 548. Baker Hughes reported that despite this week's increase in rigs the total count is still 37 rigs or 6% lower than this time last year. Baker Hughes reported that oil rigs remained at 414 in this week's report, while gas-rigs increased by three to 128 - their highest level since August 2023. The number of miscellaneous drilling rigs decreased by one, to six.