Texas adds UK lender NatWest to Energy ‘Boycott’ List Over Financing Restrictions Aug 14 (Reuters) – Texas has added Britain’s NatWest to a list of firms that “boycott” energy companies, potentially restricting the bank’s business with public agencies, the comptroller said on Wednesday. NatWest was added to the list because of limits it has added on …
Finance
Auto Added by WPeMatico
Recession Risks Roil Markets but Not Yet Alarming
Disappointing U.S. jobs data has shaken confidence in a soft landing for the world’s largest economy, sending global equity markets tumbling and bets on interest rate cuts surging. But investors abandoning a popular yen carry trade has played a big role in the selloff, complicating the message from asset prices on the economic outlook. The …
Recession Risks Roil Markets but Not Yet Alarming Read More »
Aramco CEO Says Oil Demand Is Strong and Recent Selloff Was Overreaction
Saudi oil giant sees demand “north of 106 million b/d” in 2025 “Robust” oil use points to “fairly healthy” market: CEO The selloff in global oil markets on perceived bad economic news was overdone because demand remains strong, according to top crude exporter Saudi Aramco. Brent crude dropped to almost $75 a barrel on Monday, …
Aramco CEO Says Oil Demand Is Strong and Recent Selloff Was Overreaction Read More »
North Sea Oil and Gas Producers Say UK Windfall Tax is a ‘Wrecking Ball’
(Reuters) – Britain’s decision to increase a windfall tax on oil and gas producers to help pay for its push to grow renewables will lead to a sharp drop in revenue and accelerate the ageing basin’s decline, North Sea drillers said. The new Labour government announced on Monday it will increase the Energy Profits Levy (EPL) …
North Sea Oil and Gas Producers Say UK Windfall Tax is a ‘Wrecking Ball’ Read More »
COMMENTARY: Banks are Having Second Thoughts About Moving Away from Oil & Gas – Irina Slav- Irina Slav
By Irina Slav More From Irina Slav In February this year, Barclays announced it would stop direct financing for “energy clients, for upstream oil and gas expansion projects or related infrastructure.” The bank followed a massively popular trend in the industry of boosting support for transition-related businesses at the expense of traditional energy because traditional energy …
Barclays CEO Says Banks Can’t Go ‘Cold Turkey’ on Oil Clients
The chief executive of Barclays Plc characterized as unrealistic growing calls for the finance industry to abandon fossil-fuel clients. Banks “cannot go cold turkey” on the oil and gas industry, Barclays CEO CS Venkatakrishnan told Bloomberg’s Anna Edwards at the Bloomberg Sustainable Finance Forum in London on Tuesday. While Barclays’ is “very much moving from away from” coal and oil, the …
Barclays CEO Says Banks Can’t Go ‘Cold Turkey’ on Oil Clients Read More »
Over Half of Aramco Share Sale allocated to Foreign Investors, Sources Say
(Reuters) – Saudi Arabia placed over half of an $11.2 billion share sale in Aramco with foreign investors, two people with knowledge of the matter told Reuters on Saturday. Saudi Arabia has been seeking to lure international investment to pour tens of billions of dollars into projects to diversify away from its reliance on oil. Yet …
Over Half of Aramco Share Sale allocated to Foreign Investors, Sources Say Read More »
Saudi Arabia Set to Raise More Than $11.2 Bln from Aramco Stock Offering – WSJ
Saudi Arabia is set to raise more than $11.2 billion after pricing its offering of Aramco stock toward the lower end of the targeted range, the Wall Street Journal reported on Thursday. Saudi Aramco’s bankers have told investors it plans to price the shares at 27.25 Saudi riyals, or $7.27 each, according to the report. …
Saudi Arabia Set to Raise More Than $11.2 Bln from Aramco Stock Offering – WSJ Read More »
Saudi Arabia Sets New Test for International Interest with $13.1 Billion Aramco Sale
(Reuters) – Saudi Arabia and its bankers will on Sunday morning start taking orders for as much as $13.1 billion worth of shares in its energy giant Aramco , in a major test of international investor interest in its market. In a long-anticipated announcement on Thursday, the kingdom and Aramco detailed plans to sell up to a 0.7% …
Saudi Arabia Sets New Test for International Interest with $13.1 Billion Aramco Sale Read More »
Oil Market Torpor Sends Investors to Other Commodities – John Kemp
Global petroleum markets have become calm again after massive disruptions caused by the coronavirus pandemic, Russia’s invasion of Ukraine, and the sanctions imposed in response by the United States and its allies. Production and consumption are growing at similar rates; inventories are near normal; prices are close to average once adjusted for inflation; and volatility …
Oil Market Torpor Sends Investors to Other Commodities – John Kemp Read More »