Nasdaq LONDON – As the world’s top global energy trading houses prepare for their biggest annual industry get-together this week in London they face a growing problem, what to do with their cash. Most trading houses, which are privately owned and controlled by their employees, disclose little about their cash position, equity or dividends. But according to more than 10
Nasdaq LONDON – Royal Dutch Shell RDSa.L said on Friday it had agreed to acquire BP’s BP.L 27.5% stake in the Shearwater North Sea gas field, raising its stake in the field to 55.5%. Shell, which operates the Shearwater hub, exercised its right of first refusal to the stake after BP agreed last month to sell its stake to Tailwind, a private
Reuters LONDON – Global energy trader Mercuria has teamed up with two private equity firms to set up a renewable energy fund in the United States, its chief executive told the FT Global Commodities Summit. “A few months ago, we joined forces with a private equity firm to invest in the renewables space in North America. It’s a $1.5 billion
Reuters LONDON – Global oil markets are showing early signs of rebalancing after production cuts by OPEC and the United States, with the market’s pricing structure indicating that storing oil on idle tankers may soon no longer be profitable, Mercuria Energy Group said. Oil futures are cheaper for nearby delivery than for a few months ahead, a pricing structure known
Pin Oak Acquires Expansion Land In Corpus Christi
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