Wednesday, February 12, 2025

Trump appoints US Oil Advocate to Lead Public Land Bureau

Kathleen Sgamma is a vocal advocate of oil and gas for Western States. She will be heading the Interior Department Bureau of Land Management which oversees the use of nearly 250 million acres of country's public lands. Sgamma is the head of Western Energy Alliance which represents oil companies operating on federal land.

Sources: Validus Energy will buy natural gas producer, 89 Energy III, for $850 Million.

Sources familiar with the deal said that Validus Energy, a privately owned U.S. gas and oil producer, has agreed to purchase 89 Energy III, a rival company, for $850 million including debt. According to sources, the deal will add more than 25,000 barrels equivalent to oil per day to Validus’s growing footprint in Oklahoma's Anadarko Shale Basin…

Origin Energy's profit exceeds expectations on the back of strong LNG earnings

Origin Energy, an Australian power company, beat analysts' expectations on Thursday. This was due to higher LNG sales and gains from LNG trading. These factors offset a sharp drop at the energy markets division. Origin Energy, along with AGL Energy and Energy Australia as one of Australia's "Big Three" retailers of electricity…

Pemex CEO: Buyers of Mexican crude oil complain about salt and water content

The CEO of the state energy company Pemex, Victor Rodriguez, said that buyers have complained about the water and salt content in Mexico's crude oil over the last month. When asked by a journalist during her morning press conference if some platforms produced crude oil with higher than usual salt and water contents…

Brazil's Lula will meet with the Environment Agency to discuss Petrobras' bid for drilling near the mouth of Amazon river

Brazil's president Luiz Inacio Lula Da Silva will meet with the environmental agency Ibama this week or next to discuss Petrobras bid to drill near the mouth the Amazon river for oil, he said to a local station on Wednesday. Lula, who defended Petrobras’ bid to explore the area, said in the…

Trump appoints US Oil Advocate to Lead Public Land Bureau

Kathleen Sgamma is a vocal advocate of oil and gas for Western States. She will be heading the Interior Department Bureau of Land Management which oversees the use of nearly 250 million acres of country public lands. Sgamma is the head of Western Energy Alliance which represents oil companies operating on federal land.

Equinor will continue with the Rosebank oil and Gas Project in Britain

The UK manager of Equinor, the Norwegian oil and natural gas producer, said Wednesday at a conference on energy in New Delhi that the company will continue to develop its Rosebank oil field. Equinor, along with its partner Ithaca Energy, wants to develop the Rosebank Oil and Gas Field. However…

Aker BP and Total are seeking to increase their stakes in the giant Equinor oilfield

Aker BP announced on Wednesday that TotalEnergies, Aker BP and Equinor are seeking a review of their shares in Equinor’s Johan Sverdrup field in order to increase their holdings. Sverdrup, which is built across several offshore oil-and-gas licences, is owned by Equinor 42.63%, Aker BP 31.57%…

Brazil's Petrobras is looking for African oil assets to increase reserves

Petrobras, the Brazilian oil company, wants to purchase stakes in African oil assets - primarily in Angola and Namibia - to increase its reserves, as it anticipates that production will fall after 2030. A senior executive revealed this on Wednesday. Sylvia dos Anjos told the India Energy…

Novatek, a Russian company, says its net profit for 2024 will rise to $5.2 billion

Novatek, Russia's largest LNG producer, announced on Wednesday that its net profit for 2024 increased by 6.5% and reached 493.5 billion Rubles ($5.18 Billion) as production increased. Novatek is a major target of Western sanctions against Russia due to the conflict in Ukraine. The new Arctic LNG 2 project…

Aker BP and Total are seeking to increase their stake in the giant Equinor oilfield

Aker BP announced on Wednesday that TotalEnergies, Aker BP and Equinor are seeking an independent assessment of their stakes within Equinor’s Johan Sverdrup field in order to increase their holdings. Sverdrup, which is built across a number of offshore oil and gas licenses, is owned by Equinor 42.63%…

Japan's JERA is seeing increased competition for US LNG from Asia and Europe

JERA, Japan's largest power generator, expects the competition for U.S. LNG to grow as Asia and Europe increase their demand. There are many buyers. Asian and European buyers really want U.S. Energy. There are many competitors," JERA Asia's CEO Izumi Ka told the India Energy Week Conference on the sidelines.

Financial Times – February 12,

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. BP told 39,000 employees their cash bonus would be only 45% of the target amount after a poor year in financial and operational performance. Gavin Isaacs,…

Woodside and Trinidad have agreed to initial commercial terms for deepwater natural gas, an executive says

According to three sources with knowledge of the discussions, a Woodside executive and a Trinidad and Tobago government official have agreed on an initial commercial agreement for the development of Woodside's Calypso gas deepwater discoveries. This brings the project closer to the final investment decision.

Guyana gives Frontera and CGX Energy 30 days notice to cancel their Corentyne license

The Canadian energy companies reported that the Guyana government has given CGX Energy a 30-day warning to cancel the joint venture license of the Corentyne Block. The South American nation expressed earlier a lack confidence that the companies would be able to secure a partner for their project.

Tanzania hopes to complete talks on LNG project by June

Tanzania has begun discussions with investors about tax incentives for a project that is stalled to build a $42 billion plant of liquefied gas in the country. Energy Minister Doto Biteko announced this on Tuesday. He added the talks might be concluded by June. The mega-gas project in Tanzania is operated by Equinor…

Chevron is struggling to replace its oil and gas reserves amid uncertainty surrounding the Hess deal

Chevron’s oil and natural gas reserves are at their lowest level in more than a decade. This highlights the importance of its planned acquisition of oil producers Hess, which has been stalled by a legal battle with Exxon Mobil. Investors in energy companies use reserve replacement as a key metric.

BP plans to add six new gaswells to the Azeri Caspian sea field in order for it continue production.

BP will add six new gas wells in Azerbaijan’s Shah Deniz field in the Caspian Sea in order to maintain stable production for the future, a senior manager from the international energy giant said. BP operates 21 gas-wells in Shah Deniz. This area is being developed by a BP led consortium,…

BP promises fundamental reset as Q4 profit hit four-year low

BP announced a quarterly profit of $1.1 billion on Tuesday. This was lower than expected, and the lowest since 2004. The company also promised to reset its strategic direction after it became known that Elliott Management, an investor, had acquired a stake. BP has experienced a decline of earnings for the entire year 2024.

Vaar Energi raises dividends, Q4 profits in line

Vaar Energi, a company listed in Oslo and majority owned by Eni of Italy, raised its dividend on Tuesday, while reporting a fourth quarter operating profit that was in line with expectations. Vaar's earning before interest and taxes (EBIT) rose from $399 to $1 billion in the quarter of October-December…

Source: Elliott wants operational changes at Phillips 66 after acquiring a stake of over $2 billion dollars

A person with knowledge of the matter said that Elliott Investment Management, an activist firm, has acquired a stake worth over $2.5 billion in Phillips 66. The company plans to make changes to its operations to increase its stock price. The person who spoke to Elliott said that he plans to encourage Phillips 66's midstream division to be sold or spun off.

Trump relaxes the enforcement of US laws that prohibit bribery by foreign officials

Donald Trump, the U.S. president, signed an executive order on Monday directing that the Justice Department halt prosecutions against Americans accused of bribing officials of foreign governments in order to gain or retain business within their countries. Trump's order suspends the enforcement of the Foreign Corrupt Practices Act…

Mexico's Carlos Slim: 'Complicated' deepwater project being evaluated

Mexican billionaire Carlos Slim announced on Monday that he and his team are re-evaluating the deal they signed with Pemex, Mexico's state oil company to develop Mexico’s first deepwater gas field. The project has been plagued by issues over its commercial viability for years. The comments are in line with an exclusive published last month…

BP shares are at their highest level since August following Elliott's stake increase

In early trading on Monday, shares of oil giant BP rose 7%, reaching their highest level since August, following reports that activist investor Elliott Management acquired a stake in the firm, citing a reliable source. By 823 GMT the shares had risen 7.3% to 464.75pence, their largest daily gain since Febuary 2023.

Wall Street Journal – Feb 10,

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Activist investor Elliott Investment Management owns a stake in BP, the world's largest oil company. Elliott Investment Management will demand radical changes to improve BP's performance.

Data show that Ukraine kept its gas imports high on Sunday.

The operator of the state-owned gas transmission system revealed that Ukraine will maintain its gas imports to a high level, 16,3 million cubic meters (mcm), on Sunday. Data suggested that Ukraine would import gas from Hungary, Slovakia and Poland. Ukraine increased its gas imports dramatically last week…

Interra claims that oil contract was signed with Myanmar before the junta took power

Interra Resources, a Singapore-listed oil explorer, said Thursday that a production sharing contract between its subsidiary in Myanmar and a government-controlled entity was extended several years before 2021. The statement was made in response to an inquiry by the Singapore Exchange, a week…

Source: Elliott, an activist, has a stake in BP oil giant.

Activist investor Elliott Investment Management built a stake on oil major BP. A source familiar with this matter said that Saturday. The source didn't specify the amount at stake. Bloomberg News reported on Saturday that Elliott, a U.S. company, is trying to increase shareholder value by urging BP consider transformative measures.

Venture Global CP2 export plant in Louisiana to move forward with environmental report

The proposed CP2 LNG export plant of Venture Global, a U.S. liquefied gas (LNG), company in Louisiana has moved a big step closer to being built after the U.S. Federal Energy Regulatory Commission released a draft report on Friday. As global prices rose, the demand for LNG increased. This was due to the new projects developed by Venture Global…

Minister says Canada's Alberta is looking to Japan for new LNG contracts amid US tariff threats

Rebecca Schulz is the minister for environment and protected areas in Canada's Alberta, which is a major producer of gas. She said that expanding into Japan was an important goal in light of a U.S. Tariff threat. Schulz, in an interview with a Japanese journalist in Tokyo on Wednesday evening…

Potentia Energy purchases major Australian renewable energy assets

Potentia Energy is a joint venture of Italy's Enel and Japan's INPEX Corp. It announced Thursday that it will buy control stakes in renewable energy projects worth 1 gigawatt in Australia. This investment comes from investors in private equity funds and superannuation funds. Potentia stated…

Reforms to the Mexican oil company Pemex will give it more flexibility in forming partnerships

A bill that was sent to Congress Wednesday will allow Pemex, the state-owned Mexican oil company, to work with private companies. This will ease restrictions imposed by the previous administration. The bill is expected to be passed by a large margin. Pemex can then enter into exploration and extraction contracts with private companies…

Australian shares are led higher by banks and retailers.

Australian shares followed Wall Street's rise on Thursday. Financial stocks and consumer discretionary companies led the charge, after investor concerns about a global war of trade began to fade. As of 2350 GMT, the S&P/ASX 200 Index rose by 0.9% to 8,490.7. The benchmark closed Wednesday 0.5% higher. Overnight the Dow Jones Industrial Average in the U.S.

Total CEO: Company rejected Venture Global LNG as supplier due to lack of trust

TotalEnergies has rejected the opportunity to be a long-term client of Venture Global LNG U.S. Terminals, because it does not trust them, said CEO Patrick Pouyanne on Wednesday. Venture Global, the U.S.'s most valuable LNG company, has seen its stock price soar after a massive initial public offering (IPO) last month.

Ecopetrol shares fall after Colombian Petro demands sale of US Fracking business

Ecopetrol, Colombia's largest state-owned energy company, fell by 2.20% to 2,005 pesos (US $0.48) each in the early hours of trading on Wednesday. This was after President Gustavo Petro demanded that the company sell its U.S. Fracking business. Petro's remarks late on Tuesday came after the…

Operator data shows that Ukraine's gas imports soared on Wednesday.

According to the data provided by the operator, the state-owned gas transmission system, Ukraine intends to double its daily imports of gas on Wednesday. According to data from the operator, Ukraine will import approximately 5 million cubic meters (mcm), up from 2.6 millions on Tuesday. The operator didn't explain why imports increased…

Equinor reduces renewable energy targets due to industry headwinds

Equinor, a Norwegian energy company, has announced that it will reduce its ambitious targets for developing renewable energy by 2030. This is the latest European energy firm to lower green goals as the renewables market dries up. Equinor has followed in the footsteps of BP and Shell who have cut back on plans to expand renewable energy.

Equinor Q4 profit beats forecast, raises 2030 oil output target

Equinor reported slightly higher profits than expected for the final quarter in 2024. It also increased its oil and natural gas production forecast, and scaled back plans to expand renewable energy capacity. Equinor's poll of 24 analysts predicted that the Norwegian oil and gas company would earn $7.90 billion in adjusted earnings for October-December…

Colombia's Petro wants Ecopetrol to sell its fracking operations.

The Colombian president Gustavo Petro called on Tuesday for the sale by Ecopetrol of its fracking operations within the United States in order to invest in renewable energy. In an unusual live broadcast, the leftist leader made his request to Andres Camacho, minister of mines, energy and environment.

Sources say that RPT-Encino owner is considering a $7 billion sale and IPO.

CPP Investments, a Canadian pension fund, is considering strategic options for Encino Acquisition Partners, such as a sale or an initial public offering that could value Encino Acquisition Partners at up to $7 billion including debt. The energy industry has been anticipating a boost from President Donald Trump's administration…

Sources: Encino's owner is considering a $7 billion sale and the IPO of an energy producer.

CPP Investments, a Canadian pension fund, is considering strategic options for Encino Acquisition Partners, such as a sale or an initial public offering that could value Encino Acquisition Partners at up to $7 billion including debt. The energy industry has been anticipating a boost from President Donald Trump's administration…

OPEC and Saudi Arabia spare oil production capacity

A U.S. official stated on Tuesday that U.S. president Donald Trump would restore his "maximum-pressure" campaign against Iran and bring its oil exports down to zero. This would increase oil prices, and force others to pump even more. Saudi Arabia, the United Arab Emirates and Iraq, along…

BP to invest upto $25 billion in Iraqi Kirkuk oil and Gas

A senior Iraqi official said that BP will spend up to 25 billion dollars over the life of a project redeveloping four Kirkuk oil fields and gas. Baghdad is trying to win foreign investment back. If the deal is finalized, which could happen in the next few weeks, this would be a major breakthrough for Iraq.

Petrobras Q4 total production down 10.5%; sales and exports are also down

Petrobras, the state-owned oil company in Brazil, reported a 10.5% drop in its fourth-quarter total oil and gas production compared to a year ago. Sales and exports were also down. Petrobras, Latin America’s largest oil company, reported a total oil and natural gas production of 2,63 million barrels equivalents per day (boed)…

Novak claims that OPEC+ discussed Trump's call to increase oil output

Alexander Novak, Deputy Prime Minister of Russia, said that the Joint Ministerial Monitoring Committee of the OPEC+ Group of Leading Oil Producers discussed U.S. president Donald Trump's request to increase oil production. Novak said in comments to Russia’s Rossiya-24 television station that…

OPEC+ rolls over oil policy, ditches US government data

OPEC+ decided to continue its policy of increasing oil production gradually from April and removed U.S. Energy Information Administration as a source to monitor their production and adherence with supply pacts. OPEC+ & Donald Trump clashed frequently during Donald Trump's first administration from 2016 to 2020 when the U.S.

Colombia's Ecopetrol extends joint venture agreement with Occidental Petroleum for Permian Basin

Ecopetrol, a Colombian energy firm, announced on Monday that it had reached an agreement with Occidental Petroleum to renew their oil joint venture in the U.S. Permian Basin in Texas. The future of the joint-venture was uncertain after Ecopetrol – which is majority owned by the Colombian government – backed out from a separate agreement last August…

Sources say that OPEC+ is likely to stick with its plan to increase oil production.

Despite Donald Trump's pleas to lower oil prices, delegates of the producer group said that OPEC+ would likely stick to its current plan to increase output gradually starting in April. Four OPEC+ source said that the Joint Ministerial Monitoring Committee meeting, scheduled to start at 1300 GMT on Monday…

Two Russian sources claim that Saudi Arabia and the UAE are possible locations for a Trump-Putin meeting.

Two Russian sources familiar with the discussions said that Russia is considering Saudi Arabia and the United Arab Emirates as potential venues for a meeting between U.S. president Donald Trump and Russian president Vladimir Putin. Trump said that he would end the conflict in Ukraine as quickly as possible, and that he was ready to meet Putin.

Data shows that Russia's LNG exports in January fell by 5%.

LSEG's preliminary data on Monday showed that Russia's LNG exports in January were down 5% compared to a year ago, at 2.75 million metric tonnes. Exports of LNG were down by 10% compared to December. Due to U.S. sanctions over the conflict in Ukraine, Russia has been unable to increase LNG exports.

Sources say that US energy company Talos is set to name Shell CEO Goodfellow its next CEO

Two people with knowledge of the matter confirmed on Sunday that Talos Energy is preparing to appoint veteran Shell executive Paul Goodfellow, as its new CEO. Sources said that the appointment of Goodfellow who is currently the chief internal auditor for Shell is expected to be made this week. They requested anonymity as the matter was confidential.

Austrian OMV and ADNOC are interested in acquiring Nova Chemicals

Austria's OMV, and Abu Dhabi National Oil Company's (ADNOC), said that they were considering a joint-venture to purchase Canada's Nova Chemicals, if the owner of Nova Chemicals, Abu Dhabi's sovereign wealth fund Mubadala agrees. According to a press release, the proposed acquisition would…

Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 8 weeks.

Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first eight-week period. The number of oil and gas drilling rigs, a good indicator of future production, increased by six in the week ending January 31. Baker Hughes reported that…

Infinity Natural, backed by Pearl Energy, valued at $1.3 Billion as shares soar in NYSE debut

Infinity Natural Resources, a company owned by private equity, was valued at $1.3 billion after its shares rose 10.8% on their New York Stock Exchange debut on Friday. Morgantown, West Virginia based company opened its stock at $22.16, over the $20 per share offer price. Infinity, supported by Pearl Energy Investments…

Mexico's Pemex, billionaire Slim renegotiate deepwater gas project

Five sources with knowledge of the situation said that the team of Mexican billionaire Carlos Slim and the state energy company Pemex were discussing significant changes to the deal to develop Mexico's first deepwater gas field. Grupo Carso, Slim's Mexican holding firm, signed a partnership…

Staatsolie will raise 250 mln dollars, 50 mln euro through bonds due in 2033

Suriname’s state-owned power company Staatsolie launched on Friday a new debt bond offer maturing in 2033. The company hopes to raise $250m and 50m euros ($52m) to finance its participation in an important project off the coast of the country, it said. To secure a 20% share in Block 58 being developed by France’s TotalEnergies, and U.S.

Africa's biggest copper countries are focusing on trade profits

Africa's largest copper producers, Democratic Republic of Congo (DRC) and Zambia (Zambia), are working to get exposure to metal trading, as the surge in demand linked to artificial intelligent and the move to greener energy promises big profits. Metals trading is a long-standing domain of international trading companies, like Glencore.

Sources say that OPEC+ is unlikely to alter its output policy at the Monday meeting of the panel.

OPEC+ will not change its plans to gradually increase production when it meets Monday, delegates told the producer group. This is despite President Donald Trump's request to OPEC and Saudi Arabia, which is de facto leader, to lower prices. The top ministers of the Organization of the Petroleum Exporting Countries (OPEC) and its allies…

Chevron's refining division posts its first loss in 4 years, missing earnings estimates

Chevron Corp. reported earnings for the fourth quarter below Wall Street expectations on Friday. Weak margins forced its refining division into a loss, its first since 2020. Shares fell more than 2%. Mike Wirth, CEO of Chevron, said that the downward trend in margins for refining is expected to continue into this year. The second largest U.S.

Orsted fires CEO and appoints a company insider to be the new boss

Orsted, a Danish renewable energy company, announced on Friday that its CEO Mads Nippon would step down. He will be replaced by Rasmus Errboe, a company insider. The move is intended to revive the company whose shares have plummeted 83% since their peak in 2021. Lene Skole, Orsted's Chairperson…

Australia's Origin Energy lowers its APLNG production for 2025

Origin Energy announced on Friday that it expects Australia Pacific LNG to produce less in 2025. However, the company reported a sequential increase of 11% in its second-quarter revenues from its stake in this project due to higher gas prices. The power producer expects production in 2025 from APLNG, Origin's joint-venture with U.S.

Baker Hughes exceeds its quarterly profit expectations on natgas demand

Baker Hughes, a U.S. oilfield equipment company, beat Wall Street's fourth-quarter profit estimates on Thursday as strong demand for natural gas products and services offset the weak sales of its drill gear in North America. Oilfield services companies are struggling with lower demand, as…

ReconAfrica, a Canadian company, finds oil in the Naingopo onshore well

The chief executive of Canada's Reconnaissance Energy Africa, ReconAfrica, said that the company has discovered oil in its Naingopo exploration well on land and plans to increase drilling in this region. ReconAfrica, which is drilling near the Okavango Delta, a sensitive area in Namibia,…

Baker Hughes signs supply agreement with Venture Global

Baker Hughes, a provider of oilfield services in the United States, announced on Thursday that it had signed an agreement with Venture Global for technology and equipment to support its projects involving liquefied gas (LNG). Venture Global has signed a framework agreement for services to support phases 1 and 2 in Louisiana's Plaquemines LNG Project.

Glencore announces lower metals production by 2024

Glencore reported Thursday that it would lower its copper, cobalt and zinc production, as well as thermal coal, by 2024 in line with the guidance. The company reported that it would produce 951,600 tons of copper by 2024. This is a 6% decrease from the 1.01 millions tons produced in 2023.

Venture Global LNG has almost completed repairs at Calcasieu Pass Power Plant -FERC

A federal inspection report released on Wednesday said that Venture Global LNG may be able to complete power generator repairs before the end of the month. This could pave the way for the completion of the nearly three-year long commissioning process of the Calcasieu Pass LNG Plant. Venture Global has become the most valuable U.S.

Trinidad and Tobago auctions 26 deepwater oil and natural gas blocks at the largest ever auction

Official notices state that Trinidad and Tobago offered 26 offshore oil and natural gas blocks on Tuesday in its largest ever auction of deepwater exploration and production areas. In order to fully utilize its gas processing capability, the twin-island Caribbean nation, Latin America's biggest exporter of LNG…

Mexico's crude and condensate production in December drops by 12% compared to the previous year

The Mexican state-owned oil company Pemex announced on Tuesday that its liquid hydrocarbons production in December fell 12% compared to a year ago, its lowest level of the year. It also missed its government target for the third consecutive month. In December, crude and condensate output averaged 1…

Kazakhstan wants better terms for oil production sharing agreements

Kazakh President Kassym Jomart Tokayev ordered the government on Tuesday to intensify talks with international oil giants about an extension existing Production Sharing Agreements (PSA) at "better conditions". Central Asia is one of the top 10 oil producing countries in the world. It has a chequered past when it comes to international oil companies.

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…

Kazakhstan's daily crude oil production at a record high amid Chevron led expansion

Official data show that oil production in Kazakhstan hit a record of 278 499 metric tonnes on Sunday, just a few days after the country began expanding its largest oilfield - Tengiz led by Chevron. Kazakhstan, which depends on Tengiz, and two other large fields, Karachaganak, and Kashagan for the majority of its production…

Big Oil is not rushing to "drill, baby drill" this year despite Trump's agenda

Wall Street believes that U.S. energy companies will keep spending under control in 2025, and focus on shareholder returns despite President Donald Trump's calls to "drill baby, drill". This week, Big Oil will report its fourth-quarter results. The outlook for the next year should reflect…

Diversified Energy buys energy producer Maverick for $1.3 billion

Diversified Energy, a U.S. company, announced on Monday that it would buy Maverick Natural Resources, a private equity firm, for $1.28 Billion, including debt. The purchase will allow the company to expand its operations in the oil-and-gas-rich Permian Basin. Diversified Energy - which produces…

Oil prices fall as Trump reiterates his call for OPEC price cuts

Oil prices fell on Monday, after U.S. president Trump asked OPEC for a reduction in prices in response to his announcement that he would take a wide range of measures to increase U.S. oil production and gas output during his first week as president. Brent crude futures fell 53 cents or 0.68% to $77.97 per barrel at 0430 GMT, after closing up 21 cents Friday.

Trump calls for OPEC price reductions

The oil prices dropped more than 1% Monday, after U.S. president Trump asked OPEC for a price reduction following his announcement of sweeping measures to increase U.S. gas and oil production in his first weeks in office. Brent crude futures fell 87 cents or 1.11% to $77.63 per barrel at 0043 GMT, after closing up 21 cents Friday. U.S.

FTSE 100 drops as a stronger sterling hurts export-focused companies; Burberry soars

The UK's FTSE 100 fell on Friday as a rise in sterling hurt firms that export. Burberry, however, soared, after a strong U.S. Holiday season helped the luxury company beat its quarterly sales targets. The blue-chip FTSE 100 fell 0.3% at 1214 GMT but was still on track for its fifth consecutive week of gains.

Minister: Greece will launch gas exploration bid on Friday

The Greek energy minister announced that Greece will hold a tender on Friday for new rights to explore gas in its southwest waters after a U.S. oil company, Chevron, expressed interest. Chevron has submitted its non-binding expression of interest in exploring for energy on a deep sea block located south of the Peloponnese Peninsula in the Mediterranean Sea.

Oil industry unlikely rush to Alaska despite Trump’s call for drilling

U.S. companies will not expand their development in Alaska or the Arctic after President Donald Trump signed an executive order that allows them to do so. Industry representatives and company officials said this, pointing out that a future president would be able to reverse Trump's decision. U.S. Oil Production is Already at Record Levels.

Energy and consumer staples drive TSX near 6-week peak

Canada's main index of stocks continued to rise on Thursday. This was mainly due to gains in energy and consumer staples, but investors were still curious about the policy decisions made by U.S. president Donald Trump. If gains continue, the S&P/TSX Composite Index of the Toronto Stock Exchange could record its eighth consecutive winning session.

EU source: EU selects PwC for mineral, energy platform

The EU has chosen PriceWaterhouseCoopers and a Slovak software company to develop a 9 million euro ($9.4 million) joint purchasing platform for critical minerals and energy, according to a European Commission source and a document seen by . Source who refused to give their name said that…

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