BP pauses $750-million quarterly share buybacks Q4 net profit $1.54 billion, up 32% on year Bumerangue field expected to hold 8 billion barrels Shares dropped as much as 5.7% in morning trading (Reuters) – BP suspended its share buyback programme and took about $4 billion of charges in its renewables and biogas assets, sending its shares …
BP Suspends Buyback to Trim Debt, Sending Shares Down Over 4% Read More »
Summary Presidio’s Goldman facility is a first in oil and gas industry Acquisition finance provided by Goldman, with debt held by bank for use in future ABS Structure offers lower debt costs, as well as speed and more certainty in deal talks (Reuters) – Presidio Investment Holdings is working with Goldman Sachs on a first-of-its-kind debt …
(Reuters) – Shell CEO Wael Sawan said on Tuesday the oil major does not have to buy additional assets anytime soon to deliver on its 2030 targets. In March, Sawan projected a 100,000 to 200,000 barrels-of-oil-equivalent-per-day gap for the company by 2030, but said last week the company has largely covered that near‑term shortfall. Shell needs …
NOT SO! Shell CEO Says Oil Major Does Not Have to Buy assets Anytime Soon Read More »
(Reuters) – Utility firm Duke Energy forecast a higher current-year profit on Tuesday on the back of strong power demand. The rapid buildout of AI data centers and accelerating power consumption across homes and businesses were set to drive U.S. demand to record highs in 2026, the U.S. Energy Information Administration said. The utility firm was also considering adding large …
Duke Energy Forecasts Higher 2026 Profit on Strong Power demand Read More »
(Reuters) – The United States issued fresh guidance on Monday to commercial vessels transiting the Strait of Hormuz, a key shipping lane for Middle East oil supplies, as tensions simmered between Washington and Tehran over Iran’s nuclear program. Iran has in the past threatened to close down the Strait of Hormuz, a portion of which …
US Issues Fresh Guidance to Vessels Transiting Strait of Hormuz as Iran Tensions Simmer Read More »
(Reuters) – Venezuela’s state oil company PDVSA has reversed most of the output cuts it had ordered at its own oilfields and joint ventures in the country’s main crude region, the Orinoco Belt, which has boosted the nation’s total production close to 1 million barrels per day (bpd), sources close to operations said. The Orinoco …
(Reuters) – U.S. natural gas futures fell by more than 8% on Monday on forecasts for milder weather than previously expected for the rest of the month, erasing the previous session’s gains. Gas futures for March delivery on the New York Mercantile Exchange fell 27.7 cents, or 8.1%, to $3.15 per million British thermal units …
US Natural Gas Futures Fall More Than 8% on Milder Forecasts Read More »
By Shadia Nasralla and Stephanie Kelly Shell reserves at lowest since at least 2013, faces output gap Reserve life 8 years, markedly below Exxon Analysts see need for M&A, exploration success LONDON, Feb 9 (Reuters) – Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of …
Shell Needs Big Discovery or Deals as Oil, Gas Reserves Dwindle Read More »
Tengiz output has recovered to about 550,000 bpd, sources say Full recovery expected by February 23 Kazakhstan’s overall oil production on the rise January fires at power facilities caused prolonged shutdown Kazakhstan’s oil exports declined due to Tengiz outage MOSCOW, Feb 9 (Reuters) – The giant Chevron-led (CVX.N) Tengiz field in Kazakhstan has recovered to …
Chevron’s Tengiz Oilfield Back to 60% of Usual Output, Two Sources Say Read More »
Feb 9 (Reuters) – French oil major TotalEnergies (TTEF.PA) on Monday signed two long-term deals to supply solar power to Google’s (GOOGL.O) data centres in Texas, as it looks to tap rising electricity demand driven by artificial intelligence. Total will deliver 1 gigawatt of capacity – equivalent to 28 terawatt-hours of renewable power over 15 …
TotalEnergies to Provide Solar Power to Google’s Texas Data Centres Read More »
