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Abu Dhabi’s TAQA Confirms Naturgy Shareholder Talks as it Eyes Full Takeover

CDN and International News, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions / By

(Reuters) – Abu Dhabi’s TAQA  is in discussions with the three largest shareholders of Spanish energy firm Naturgy, it said on Wednesday, with a view to a possible full takeover bid for the company. Criteria, the main shareholder in lender Caixabank owns a 26.7% stake in Naturgy, which has a current overall market value of 22 billion …

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Canada to Give Indigenous Groups Loan Guarantees for Resource Projects

CDN and International News, Latest / By

Canada will provide up to C$5 billion ($3.6 billion U.S.) in loan guarantees to help Indigenous groups invest in natural resource projects, the Liberal government said in its annual budget on Tuesday. The program could give the groups major investment opportunities, from the government-owned Trans Mountain oil pipeline to TC Energy’s Coastal GasLink pipeline, power lines …

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Canada to Give Indigenous Groups Loan Guarantees for Resource Projects

CDN and International News, Latest / By

Canada will provide up to C$5 billion ($3.6 billion U.S.) in loan guarantees to help Indigenous groups invest in natural resource projects, the Liberal government said in its annual budget on Tuesday. The program could give the groups major investment opportunities, from the government-owned Trans Mountain oil pipeline to TC Energy’s Coastal GasLink pipeline, power lines …

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Canada’s Trans Mountain Pipeline Expansion Could be Trouble for OPEC Member Iraq

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Oilsands, Pipelines / By

Pipeline will almost triple shipments, bringing oilsands into direct competition with Iraq crude Bloomberg News Canada’s newest oil pipeline may spell trouble for a Middle Eastern country almost 7,000 miles away: Iraq. The Trans Mountain pipeline’s expansion, which will almost triple Alberta oilsands producers’ ability to ship their heavy crude to the Pacific Coast, will most directly affect …

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New Wind Installations Hit a Record Last Year, Report Says

CDN and International News, Latest, Renewable Energy, Wind / By

(Reuters) – The global wind industry installed a record 117 gigawatts (GW) of new capacity last year but needs to add triple this amount annually by the end of the decade to meet climate targets, according to an industry report on Tuesday. The Global Wind Energy Council (GWEC) report said capacity installation last year was …

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Possible BP Bid Highlights ‘London for Sale’ Scenario

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil / By

Possible BP bid highlights ‘London for sale’ scenario (Reuters) – The emergence of a possible bid for BP  by the United Arab Emirates’ state-owned oil group has thrown a spotlight on the vulnerability of the Britain’s largest companies to takeover and the threat to London as a global capital markets hub. New York’s larger investor base and …

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Exxon Moves Forward with Sixth Oil Project in Guyana, Targets 1.3 million Bpd Output

CDN and International News, Conventional Energy, Latest, Oil / By

Exxon Mobil has made a final investment decision for its sixth oil development project in offshore Guyana after receiving the required government and regulatory approvals, the company said on Friday.A consortium led by Exxon began crude output in Guyana in 2019, and has ramped up production to some 650,000 barrels per day (bpd) this year. …

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UAE’s ADNOC Recently Eyed BP as Takeover Target

CDN and International News, Conventional Energy, Latest, Oil / By

The United Arab Emirates’ state-owned oil company recently considered buying Britain’s BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters. Abu Dhabi National Oil Company (ADNOC) ultimately decided BP would not be the right fit for its strategy, three people said. Political considerations also weighed on the …

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China, India Top buyers of Russian Seaborne Fuel Oil, VGO in Feb, LSEG Data Shows

CDN and International News, Conventional Energy, Latest, Oil / By

China and India remained the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in February, with both countries continuing to buy the fuels to partially replace crude oil, traders said and LSEG data showed. Since the European Union’s full embargo on Russian oil products went into effect in February 2023, the …

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Morgan Stanley Lifts Q3 Brent Crude Oil Forecast on Geopolitical Risk

CDN and International News, Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil / By

Morgan Stanley has raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94, citing geopolitical risks. “That the degree of geopolitical risk in key oil producing regions has increased recently seems clear and uncontroversial,” the bank said in a note dated Monday. Brent futures rose …

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