Nasdaq COPENHAGEN – Orsted ORSTED.CO is expected to trim investment plans and cut dividends on Wednesday as it presents a new strategy but investors are worried that the Danish renewable energy firm may want to raise new capital to stick to its ambitious targets. Once a green investor darling, the world’s biggest offshore wind developer found itself at the centre of
Nasdaq SINGAPORE/NEW DELHI/LONDON – To avoid the Red Sea, the supertanker Grand Bonanza set out early this month on a roughly 40-day journey carrying 1.8 million barrels of Abu Dhabi crude for TotalEnergies from the United Arab Emirates all the way around Africa to France. The trip will take at least two weeks longer than the normal route via the
Oil Price Traders are selling West Texas Intermediate futures in anticipation of further strong production growth. As a result, prices are weakening further despite the uncertainty of such an outlook. In fact, expectations from the industry and the EIA are for much slower U.S. oil production growth this year. But that has had no effect on trader behavior. The latter
Oil and Gas 360 Net income of $0.74 per diluted share. Adjusted net income per diluted share1 of $0.86, excluding losses in Argentina primarily due to currency devaluation. Revenue of $5.7 billion and operating margin of 18%. Cash flow from operations of $1.4 billion and free cash flow2 of $1.1 billion. 2024 first quarter dividend increases by $0.01 per share to $0.17 per share. HOUSTON–(BUSINESS WIRE)–Jan. 23, 2024– Halliburton Company (NYSE: HAL) announced today net income of $661 million,
Oil and Gas 360 DALLAS, Jan. 22, 2024 /PRNewswire/ — Sunoco LP (NYSE: SUN) (“Sunoco” or the “Partnership”) and NuStar Energy L.P. (NYSE: NS) (“NuStar”) announced today that the parties have entered into a definitive agreement whereby Sunoco will acquire NuStar in an all-equity transaction valued at approximately $7.3 billion, including assumed debt. Transaction Details Under the terms of the agreement, NuStar common unitholders
World Oil (Bloomberg) — Tokyo Gas Co. said its subsidiary Tokyo Gas America Ltd. will purchase Haynesville shale operator Rockcliff Energy II LLC for about $2.7 billion in a move to expand its U.S. shale gas operations. Tokyo Gas America will acquire all the shares of Rockcliff, a portfolio company of Quantum Energy Partners, through its ownership interest in
Nasdaq Goldman Sachs trimmed its price expectation for Brent crude in 2024 by $10 per barrel to between $70 and $90, saying strong production from the United States would moderate any upside in oil prices. “We still look for range-bound prices and only moderate price volatility in 2024. Elevated spare capacity to handle tightening shocks should limit upside price moves,”
Oil Price The Securities and Exchange Commission (SEC) considers carefully what it says in public, so when its senior petroleum engineer makes a rare appearance in Houston to talk with oil reserves engineers – even not as an official spokesperson – his comments merit attention. The message boils down to this: Abandonment costs have now become “a focus area for
Oil Price EIG Global Energy Partners expects to announce soon a deal of several billion U.S. dollars to buy an LNG asset in addition to a stake in an Australian project, EIG chief executive officer R. Blair Thomas said in an interview with The Wall Street Journal. U.S.-based institutional investor in the global energy and infrastructure sectors, EIG, via its unit
Oil Price This week saw the release of the latest report from the International Energy Agency, which called for a fast reduction in oil and gas investments and production, embracing alternative energy sources instead to help advance the transition. Also this week, media picked up another story that makes the ground for the IEA report a bit shaky. The story
Oil Price The world’s top oil fund, United States Oil ETF (NYSEARCA: USO), booked on Tuesday its biggest daily outflows since December 2016 amid heightened volatility ahead of the OPEC+ meeting which was scheduled for the coming weekend but has since been delayed. USO saw daily withdrawals of nearly $225 million, according to estimates by Bloomberg. United States Oil ETF has been
World Oil (Bloomberg) — OPEC is seeking to expand its legal team as the oil producer group prepares for challenges posed by the global shift away from fossil fuels. The Organization of Petroleum Exporting Countries wants to hire a new senior legal adviser as well as a legal specialist, according to postings on the Vienna-based group’s website. The oil industry has faced criticism from
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