Baker Hughes reports that US drillers have added oil/gas rigs to their fleet for the first time in twelve weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since 12 weeks. The number of oil and gas rigs, a good indicator of future production, increased by seven in the week ending July 18…
What is in the EU's 18th package of sanctions against Russia?
The details of the 18th package approved by the European Union on Friday against Russia for its war in Ukraine. This package is aimed at further damaging Russia's energy and oil industry. The package includes a price cap for Russian oil…
Chevron wins arbitration against Exxon over Hess deal, according to analysts.
Chevron completed its $55 billion purchase of Hess last Friday, after winning a landmark court battle against Exxon Mobil. This was to gain access the largest oil discovery of the past decade - the Stabroek Block offshore of Guyana.
KoBold Metals, supported by Bezos and Gates and secured a deal for disputed Congo Lithium deposit
KoBold Metals - the mining company owned by U.S. billionaires Jeff Bezos & Bill Gates - has signed a deal with the Democratic Republic of Congo. This agreement allows the U.S. company to purchase the controversial Manono Lithium…
Crypto stocks surge as ether reaches six-month high
The crypto-focused stocks rose Friday after ether reached a six-month-high following the passage of a bill to create stablecoins by the U.S. House of Representatives. The bill is expected to be signed by President Donald Trump…
What is in the EU's 18th package of sanctions against Russia?
The details of the 18th package of sanctions against Russia for its war in Ukraine were approved by the European Union on Friday. It is aimed at further damaging the Russian oil and energy industries. The package includes a price cap for Russian oil…
BP will sell its US onshore wind business for an undisclosed amount to LS Power
BP announced on Friday that it had agreed to divest its U.S. Onshore Wind business to U.S. based power grid operator LS Power as part of its ongoing strategy to divest. The energy giant did not disclose the deal's value. Investors…
What is in the EU's 18th package of sanctions against Russia?
The details of the 18th package of sanctions against Russia for its war in Ukraine are listed below. This package was approved by the European Union on Friday, and is aimed at further damaging Russia's energy and oil industry.
SLB beats quarterly profit estimates on steady oilfield services demand
SLB, a leading oilfield services company, narrowly beat Wall Street's expectations for the second quarter profit on Friday as resilient demand from parts of its global business offset the drilling slowdowns in North America and Mexico. SLB was the first among the Big Three U.S.
Wall Street Futures dwindle after record session
The U.S. index futures took a break on Friday after the S&P 500, Nasdaq, and other stock markets closed at record highs the previous day on the back of positive economic and earnings data. Netflix's outstanding profit also failed to spark enthusiasm. At 6:57 am.
Ether-linked stock prices jump after crypto coin reaches 6-month high
Cryptocurrency-related stocks rose in premarket trading on Friday, with shares linked to ether leading the charge after the No. The No. 2 crypto reached a six-month peak. BitMine Immersion Technologies shares, which hold about $1 billion in ether, rose 14%.
Palm oil closes at its highest level in 14 weeks with a weekly gain of more than 3%
Malaysian palm futures closed higher Friday, and recorded a third weekly gain in a row. This was boosted by the strength of rival edible oils from Dalian and Chicago. Futures have also recorded a weekly gain of 3.40% and their highest close in the last 14 weeks.
What is in the EU's 18th package of sanctions against Russia?
The European Union approved a new package of sanctions against Russia on Friday, in response to its conflict in Ukraine. This is aimed at further damaging the Russian oil and energy industries. The package includes a price cap for Russian oil…
Palm oil leads rival edible oils to third-week gains
Malaysian palm futures rose on Friday, heading for a third weekly gain in a row. They tracked the increase of rival edible oils traded at Dalian and Chicago. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange…
FTC reverses its order banning John Hess Chevron board member
The U.S. Federal Trade Commission reversed on Thursday an earlier order that barred Hess Corp. CEO John Hess as a condition to the oil giant acquiring his company for $53 billion. ExxonMobil is locked in a dispute with Hess over a large oilfield in Guyana.
Solar panel manufacturers in the US seek tariffs against imports from Indonesia and India
Documents on the website of an agency show that a group of U.S. manufacturers of solar panels asked the Commerce Department for anti-dumping and compensatory duties to be imposed on imports coming from Indonesia, India, and Laos. The petition is a latest attempt by the small U.S.
Palmetto ends the year lower due to profit-taking and weak export data
Malaysian palm futures ended lower on Thursday as profit-taking wiped out gains made in the previous session. This was due to reports showing weaker export figures for the period of July 1-15. The benchmark contract for palm…
Prices of prompts are rising due to a lack of German wind energy and a tighter French nuclear policy
The European spot electricity price rose on Thursday, as the wind generation in Germany is expected to fall at a time of tightened nuclear supply in France. Meanwhile, higher temperatures in summer boosted demand for air-conditioning power in the area.
Maurel & Prom revenue drops in first half due to falling oil prices
Maurel & Prom, a French oil company, reported a 30 percent drop in revenue for the first half of its fiscal year on Thursday. The fall in oil prices was to blame. The average price of oil products fell 16% on an annual basis to $70.90 per barrel.
Santos adjusts its 2025 production forecast in response to the Cooper Basin Floods
Santos, Australia's largest oil and gas company, tightened its production forecast for the full year on Thursday in order to take into account flood-related disruptions. It also reported a decline of more than 2% in its second-quarter revenue.
