Australia's Santos Chief executive bets on cash-flow boost as third bidder walks away
Kevin Gallagher, Santos' boss, said on Friday that he does not plan to retire. He expects the company to see a dramatic increase in cash flow over the next few decades. This comes after the third takeover bidder in seven years backed out of a deal. A consortium led by Abu Dhabi National Oil Company…
Santos stock slides as $18.7 billion ADNOC-led deal collapses
Santos, the Australian gas producer, saw its shares fall as much as 13.6 percent on Thursday. A consortium led by Abu Dhabi-based ADNOC canceled their $18,7 billion offer for the company after commercial terms were not agreed. Santos announced in a press release issued early Thursday morning…
Santos said it was prepared to approve an ADNOC bid of $18,7 billion before the deal collapsed
Santos, the Australian gas producer, said that it would be willing to accept the ADNOC consortium's bid of $18,7 billion for the company if the international group did not withdraw the offer because commercial terms could no longer be agreed. Santos, in a Thursday morning statement, said…
Sources say that Raisa Energy is selling US oil and gas assets worth $1.5 billion, according to sources.
People familiar with the matter say that Raisa Energy, a private investment firm, is selling an oil and gas package across several U.S. Shale basins. The package could fetch up to $1.5 billion. These sources, who asked not to be identified because the process was confidential, said that the…
Burundi completes the first phase of a $320 million power project
According to a press release, Burundi commissioned on Wednesday the first phase of an $320 million hydropower plant financed by the European Investment Bank (EIB), the African Development Bank (ADB) and the World Bank. According to the African Development Bank, only 6% of Central Africa's 13 million people have access to electricity.
Moroccan utility ONEE awarded $340 million for energy transition
The European Investment Bank and the German state lender KfW have granted ONEE, the Moroccan water and electricity utility, a loan of 300 million euros ($340 millions) to support the integration of renewable energies into the national grid. The package includes 170 million Euros from the EIB, and 130 Million Euros from KfW.
Azerbaijan calls on EU to reconsider finance restrictions for gas corridor expansion
Ilham Aliyev, the President of Azerbaijan said that the European Union needs to reassess their financing and policies regarding long-term contracts in order to continue importing natural gases from Azerbaijan. Baku could also look for other export markets. He cited the European Investment…
ConocoPhillips is looking to sell assets in Oklahoma worth more than $1 billion, according to sources
People familiar with the situation said that ConocoPhillips has begun exploring the possibility of selling oil and gas assets it acquired from Marathon Oil when it bought the company for $22.5 billion last year. Sources said that the energy producer hired Moelis & Co as an investment bank to manage the sale of the assets.
Trump tariffs stymie M&As and IPOs during what was expected to be a record-breaking quarter
The global trade war started by U.S. president Donald Trump, and the subsequent market turmoil, has shattered bankers' expectations for a strong start to Wall Street deals in 2018. Dealogic data for the first quarter showed that mergers and purchases volume increased 12.6% from the year-ago period to $984.38 Billion.
M&A revenues fall as Trump pursues his tariffs. Global deal activity is disappointing
The global trade war started by U.S. president Donald Trump, and the subsequent market turmoil, has shattered bankers' expectations for a strong start to Wall Street deals in 2018. Dealogic data for the first quarter showed that mergers and purchases volume increased 12.6% from the year-ago period to $984.38 Billion.
EIB examines financing for $760 million hydro project in DRC
A spokesperson for the European Investment Bank said that the bank is delaying decisions on financing the Ruzizi III hydroelectric plant, worth $760 million, in Central Africa due to the fighting between Rwandan-backed and Democratic Republic of Congo rebels. After the January blitzkrieg of Congolese rebels…
Citi estimates that Brazil corn ethanol will almost double in production by 2032.
Citi Investment Bank said that Brazil's corn ethanol production will almost double by 2032 to 16 billion liters, citing the rapid growth of the industry. Citi estimates that Brazil will produce 6.3 billion liters (or ethanol) of corn in 2023-2024. The bank expects this to increase to 9.5 billion during the current crop season.
Cenovus' quarterly profit drops due to weak oil prices
Cenovus, a Canadian oil and natural gas company, reported a decline in profit for the fourth quarter on Thursday. Lower commodity prices and lower refining margins were offset by higher production. In mid-morning trade, the company's stock was down by 4.5%. The average Brent crude futures fell 3% in 2024 as the economy of the major consumer…
Macquarie, Australia's Macquarie Bank, has'very little exposure' in Trump's war on green energy
Macquarie Group, the top Australian investment bank, downplayed on Tuesday its exposure to U.S. green power sector that has been disrupted by executive orders issued by President Donald Trump. It posted a flat profit for the third quarter. The bank that makes a third its profit in Americas said it has reviewed its U.S.
Goldman Sachs: Trump's tariffs will have a limited impact on oil and gas prices
Goldman Sachs stated in a Sunday note that the new tariffs placed by U.S. president Donald Trump on imports coming from Canada, Mexico and China will likely have a limited impact on oil and gas prices globally. The bank stated that the potential tariff-driven decrease in U.S. Natural Gas imports from Canada was too small to have a significant impact on U.S.
Tariffs on copper and aluminium by Trump could increase costs for U.S. customers
Analysts and industry participants stated on Tuesday that President Donald Trump's promise to impose tariffs on U.S. imports of copper and aluminum would lead to higher prices for local consumers due a lack of production at home and the time required to renew the industry. Trump told Republican lawmakers that he will impose tariffs on steel and aluminium…
Goldman Sachs raises US gas price forecast amid colder winter
Goldman Sachs raised its forecast of U.S. Natural Gas prices from $3.00 per million British Thermal Units (MMBtu), to $3.60 for 2025. This is due to tighter gas balances in this winter, as a result of colder than average temperatures. The bank stated that "there is no need for $4 gasoline just yet".
JPMorgan Upgrades YPF and Expects Further Growth for the Argentine Energy Sector
In a client note, JPMorgan analysts raised their rating of Argentine oil company YPF. They said that the energy sector in South America has more room to grow as part of its "economic transformation". The U.S. Investment Bank raised its YPF recommendations to "overweight" and from "neutral."…
Greece Aims to Wean Tourist Islands from Fuel Imports
Greece signed a deal with the European Commission and the European Investment Bank (EIB) on Thursday to set up a fund that will help its tourism-reliant islands wean off fossil fuel and reduce power costs, the Greek government said.Greek Prime Minister Kyriakos Mitsotakis met EIB's Chair Nadia Calviño on Thursday.
Vulcan Energy, a company listed in Australia, receives $106 million funding from the German Ministry
Vulcan Energy Resources, an Australian company, announced on Tuesday that it received funding of 100 million euros (106.42 millions dollars) from the German Economy Ministry for its renewable energy facility in Landau in Germany. The Vulcan HEAT4LANDAU Project is a project to generate renewable…