Who knew the three judges at the rather obscure United States Court of International Trade had the power to spark a rally in global stock markets and shove the dollar higher against its safe-haven peers? Early in the Asian trading day, news broke the court had declared President Donald Trump’s April 2 tariffs to be …
MARKETS REACT: Markets Hope Trump Tariffs Stay ‘Unlawful’ Read More »
(Reuters) – ADNOC Drilling will acquire a 70% stake in oil services firm SLB’s onshore rig business in Oman and Kuwait for up to $112 million, creating a joint venture it seeks to double in the next year, its chief financial officer said on Thursday. The acquisition, expected to close in the first quarter of …
ADNOC Drilling Buys into SLB’s Oman and Kuwait Rig Business Read More »
(The opinions expressed here are those of the author, a columnist for Reuters.)*US drillers slow down operations following oil price drop *US oil output growth set to slow in 2025 *OPEC will need to deepen price war to significantly impact US output By Ron Bousso LONDON, May 29 – Oil drillers in the U.S. shale …
DOWN BUT NOT OUT: OPEC Must Squeeze US Shale Much More to Win Oil Price War Read More »
Oil prices rose on Thursday after a U.S. court blocked most of President Donald Trump’s tariffs from taking effect, while the market was watching out for potential new U.S. sanctions curbing Russian crude flows and an OPEC+ decision on hiking output in July. Brent crude futures climbed 78 cents, or 1.2%, to $65.68 a barrel. …
Oil Prices Climb as US Court Blocks Trump Tariffs Read More »
Chevron will lay off nearly 800 employees in Texas, according to a notice on Wednesday to the Texas Workforce Commission, part of the U.S. oil producer’s plan to cut up to 20% of its global workforce by the end of 2026. The job cuts will be in Midland County, where Chevron has large operations in …
The vast majority of President Donald Trump’s global tariffs were deemed illegal and blocked by the US trade court, dealing a major blow to a pillar of his economic agenda. A panel of three judges at the US Court of International Trade in Manhattan issued a unanimous ruling Wednesday which sided with Democratic-led states and small businesses that accused …
TRUMPED! Trump’s Global Tariffs Deemed Illegal, Blocked by Trade Court Read More »
Sunnova Energy’s loan cancelation comes as the Trump administration, pushing to maximize oil and gas production, is reviewing government financing for alternative energy.
The business unit’s all-shale holdings’ “attractiveness” to potential BP Plc suitors “would likely be an important input into any portfolio evaluation and [merger] due diligence process,” said J.P. Morgan Securities analyst Matthew Lofting.
Natural gas prices have taken a 6% hit as the news of slowed gas flows at Freeport LNG spreads.
Focus now turns to data analysis and preparing application materials for the EPA’s Class VI well application process, the company says.
