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May 23, 2022

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Column: Hedge funds more bullish on crude as sanctions loom

Reuters
LONDON, May 23 (Reuters) – Investors grew significantly more bullish on petroleum prices last week in response to an increasing likelihood that EU sanctions on Russia’s exports that will intensify global oil shortages. Hedge funds and other money managers purchased the equivalent of 56 million barrels in the six most......

Norway oil firm Okea to initiate dividend, buy North Sea assets

Reuters
OSLO, May 23 (Reuters) – Norwegian independent petroleum firm Okea (OKEA.OL) announced its first dividend payment on Monday and separately said it agreed to buy a portfolio of mostly oil-producing North Sea assets from Germany’s Wintershall Dea. Okea, which went public in 2019, said it will pay 0.90 Norwegian crown......

Oil climbs in tight market as U.S. driving season looms

Reuters
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson/File Photo Register now for FREE unlimited access to Reuters.com Register MELBOURNE, May 23 (Reuters) – Oil prices rose......

Asia stocks weighed by inflation concerns, China tech selling

Reuters
A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying Shanghai Composite index, Nikkei index and Dow Jones Industrial Average outside a brokerage in Tokyo, Japan, March 7, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com Register HONG KONG,......

Swiss Re, UBS among founding buyers in carbon removal scheme

Reuters
LONDON, May 23 (Reuters) – Insurance firm Swiss Re (SRENH.S) and banking giant UBS (UBSG.S) are among five founding buyers of credits from a scheme set up by a Swiss company to drive down the cost of taking carbon dioxide out of the atmosphere. Even with pledges of huge reductions......

Exclusive: India considering spending additional $26 billion to fight inflation

Reuters
Customers buy vegetables at a market in Ahmedabad, India, September 29, 2015. REUTERS/Amit Dave/File Photo Register now for FREE unlimited access to Reuters.com Register NEW DELHI, May 22 (Reuters) – The Indian government is considering spending an additional 2 trillion rupees ($26 billion) in the 2022/23 fiscal year to cushion......

Iran to revive gas pipeline project to Oman – IRNA

Reuters
Iranian flag flies in front of the UN office building, housing IAEA headquarters, amid the coronavirus disease (COVID-19) pandemic, in Vienna, Austria, May 24, 2021. REUTERS/Lisi Niesner Register now for FREE unlimited access to Reuters.com Register DUBAI, May 21 (Reuters) – Iran’s oil minister has agreed to revive a long-stalled......

Biden, South Korea’s Yoon vow to deter North Korea while offering COVID aid

Reuters
SEOUL, May 21 (Reuters) – President Joe Biden and his new South Korean counterpart agreed on Saturday to hold bigger military drills and deploy more U.S. weapons if necessary to deter North Korea, while offering to send COVID-19 vaccines and potentially meet Kim Jong Un. Biden and Yoon Suk-yeol said......

Russia stops Finland gas flows over payments dispute

Reuters
A view shows valves near a drilling rig at a gas processing facility, operated by Gazprom company, at Bovanenkovo gas field on the Arctic Yamal peninsula, Russia May 21, 2019. Picture taken May 21, 2019. REUTERS/Maxim Shemetov/File Photo Register now for FREE unlimited access to Reuters.com Register OSLO, May 21......

In blow to Biden climate goals, Entergy shuts nuclear power plant

Reuters
U.S. President Joe Biden delivers remarks on infrastructure investments at the International Union of Operating Engineers Local 324 training facility in Howell, Michigan, U.S. October 5, 2021. REUTERS/Jonathan Ernst Register now for FREE unlimited access to Reuters.com Register May 20 (Reuters) – Entergy Corp (ETR.N) said on Friday it has......

Putin promises to bolster Russia’s IT security in face of cyber attacks

Reuters
May 20 (Reuters) – President Vladimir Putin said on Friday that the number of cyber attacks on Russia by foreign “state structures” had increased several times over and that Russia must bolster its cyber defences by reducing the use of foreign software and hardware. The websites of many state-owned companies......

European shares rebound, China rate move helps sentiment

Reuters
LONDON, May 20 (Reuters) – Shares rebounded on Friday after China cut a key lending benchmark to support its economy, though a global equities gauge remained set for its longest weekly losing streak on record amid investor worries about slowing growth and high inflation. China cut its five-year loan prime......

Oil steady on the week as oil supply risks meet economic headwinds

Reuters
Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford Register now for FREE unlimited access to Reuters.com Register LONDON, May 20 (Reuters) – Oil prices edged lower on Friday on course for little change on the week as a planned European......

Woodside’s ‘crown jewel’ Scarborough gas lures buyers to fill Russia gap

Reuters
MELBOURNE, May 20 (Reuters) – Woodside Petroleum (WPL.AX) has received strong interest from companies for a stake in the Scarborough natural gas project it is developing off Western Australia in the wake of the Ukraine conflict, Chief Executive Meg O’Neill said on Friday. Woodside is set to become 100% owner......

Iraq bids to control Kurdistan oil revenue with contract switch

Reuters
LONDON, May 19 (Reuters) – Iraq has made a fresh attempt to control revenue from the semi-autonomous region of Kurdistan by asking oil and gas firms operating there to sign new contracts with state-owned marketer SOMO rather than the Kurdistan Regional Government (KRG). Oil minister Ihsan Ismael on May 7......

Oil rebounds from two days of losses in volatile trade

Reuters
Workers walk as oil pumps are seen in the background in the Uzen oil and gas field in the Mangistau Region of Kazakhstan November 13, 2021. REUTERS/Pavel Mikheyev Register now for FREE unlimited access to Reuters.com Register Europe still weighing ban on imports from Russia U.S. dollar backs off recent......

Euronav shareholders signal support for Frontline merger

Reuters
May 19 (Reuters) – Belgian oil tanker and storage operator Euronav (EUAV.BR) said on Thursday it had received “a clear signal” from shareholders in support of its proposed $4.2-billion merger with smaller Oslo-listed rival Frontline (FRO.OL). Since the announcement on April 7 of the planned merger, Euronav has clashed with......

Centennial, Colgate Energy combine to create $7 bln oil producer

Reuters
May 19 (Reuters) – Centennial Resource Development Inc (CDEV.O) and Colgate Energy Partners III LLC have agreed to a merger of equals, the companies said on Thursday, creating a $7 billion Permian Basin-focused U.S. oil and gas producer. The deal comes when global crude prices have surged after sanctions on......

Half of Gazprom’s 54 clients opened Gazprombank accounts, says Russia’s Novak

Reuters
A person is pictured through a window above a Gazprombank branch in Moscow July 17, 2014. REUTERS/Sergei Karpukhin/File Photo Register now for FREE unlimited access to Reuters.com Register May 19 (Reuters) – Half of Russian gas giant Gazprom’s (GAZP.MM) 54 clients have opened accounts at Gazprombank, Deputy Prime Minister Alexander......

Asian shares tumble as global growth fears mount

Reuters
FILE PHOTO – An investor sits in front of a board showing stock information at a brokerage office in Beijing, China, December 7, 2018. REUTERS/Thomas Peter Register now for FREE unlimited access to Reuters.com Register BEIJING/HONG KONG, May 19 (Reuters) – Asian stocks tracked a steep Wall Street selloff on......

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