World Oil SINGAPORE (Bloomberg) –Oil was poised for a third weekly gain as demand remained resilient while supplies are frayed across the OPEC+ coalition and beyond. Futures increased again on Friday to trade near $80 a barrel in New York, bringing this week’s increase to almost 7%. Kazakhstan’s biggest oil producer has altered output at the giant Tengiz field following
Nasdaq SAO PAULO, Jan 7 – Brazilian state-run oil company Petrobras PETR4.SA said on Friday it expects to sell 100% of its preferred stake in petrochemical producer Braskem SA BRKM5.SA by February. The detailed timeframe came after Petrobras announced earlier in the day that the move was planned for the first quarter of 2022. Petroleo Brasileiro SA, as the company is formally known, also reiterated in a securities filing that the move will be
World Oil (Bloomberg) –For a few fleeting hours Thursday, shares of Cenovus Energy Inc., one of Canada’s biggest oil producers, bounced back to highs not seen since its massive stock issuance to buy assets from ConocoPhillips four and a half years ago. Cenovus extended three days of gains to rise as much as 6% at midday to C$17.53, briefly eclipsing
CNBC Royal Dutch Shell said it will pursue its $7 billion share buyback program after selling its U.S. shale business “at pace” as its liquefied natural gas (LNG) production was hit once again by unplanned outages. Fuel sales were also hit by a slowdown in global economic activity due to the spread of the omicron Covid-19 variant, Shell said on Friday
World Oil HOUSTON (Bloomberg) –A rally in oil prices lifted U.S. energy stocks to the highest since the pandemic emerged more than two years ago. The S&P 500 Energy Index rose 2.3% Thursday to the highest close since Jan. 7, 2020, when the virus was still thought to be contained to central China. Exxon Mobil Corp. and Chevron Corp. reached
Oil Now (S&P Global Platts) Argentina plans to push forward on its first new offshore exploration drilling in years despite social protests, a government official said Jan. 6, arguing that the dangers of spills are low, and that oil and natural gas demand will remain steady over the next two to three decades as the world transitions to net-zero greenhouse
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