Oil Price Elliott Investment Management is preparing to roll out a new company with an at least $1 billion war chest to invest in metals mining assets around the world, to take advantage of the energy transition and the currently low market valuations of mining companies, the Financial Times reported on Friday, citing sources with knowledge of the plans. Elliott, the U.S.
Nasdaq MEXICO CITY – Mexico’s outgoing president has taken steps to promote a smooth hand-off for national oil company Pemex, three sources told Reuters, but the latest moves will likely postpone a day of reckoning for the world’s most heavily-indebted oil company. Last week, President Andres Manuel Lopez Obrador rolled out fresh support for Pemex, part of his longstanding goal
Oil Price Shell earned $2.4 billion from LNG trading in the fourth quarter amid strong demand for the fuel ahead of the winter, with LNG trades contributing to almost a third of its Q4 adjusted earnings, Reuters reported on Friday, quoting sources close to the UK-based supermajor. The LNG trading profit for the final quarter of 2023 was among the highest quarterly
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 5 over last week, resulting in a total count of 626 rigs. Canada had a decrease of 3 over last week, resulting in a total Canadian count of 231 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Granite Wash,
Oil Price An EU sanctions loophole that allows imports of Russian crude if it’s refined elsewhere made Russia an estimated $1.2 billion (1.1 billion euros) from sales of fuels in the European Union last year, despite the embargo on direct imports from Russia, an investigation by NGO Global Witness showed on Friday. For more than a year, the EU has had a
World Oil (Bloomberg) – Colombia’s state energy company, Ecopetrol SA, has determined that a natural gas deposit in the Caribbean Sea that officials were counting on to shore up the nation’s dwindling reserves is significantly smaller than initially estimated. Officials said Thursday that they are now reevaluating the discovery, named Orca-1. In the processes of working to verify its size,
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