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Aramco secures unconditional EU okay for $69 billion SABIC deal

Reuters
FILE PHOTO: A sign of Saudi Aramco’s initial public offering (IPO) is seen during a news conference by the state oil company at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed BRUSSELS (Reuters) – World No. 1 oil producer Saudi Aramco has gained unconditional......
Reuters - Business

As Teck oil sands mine hopes for okay from Canada’s Trudeau, 20 other projects on hold

Reuters
WINNIPEG, Manitoba (Reuters) – As Canadian Prime Minister Justin Trudeau considers whether to approve Teck Resources’ Frontier oil sands project, roughly 20 others sit on the shelf as companies delay investment decisions hoping for new pipelines and higher prices. FILE PHOTO: Rows of steam generators line a road at the......
Reuters - Business

Exclusive: Aramco to win unconditional EU clearance for $69 billion SABIC deal – sources

Reuters
FILE PHOTO: The logo of Aramco is seen as security personnel stand before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed/File Photo BRUSSELS (Reuters) – World No. 1 oil producer Saudi Aramco (2222.SE) is set......
Reuters - Business

Exclusive: Italian government leaning towards third term for Eni CEO – sources

Reuters
ROME/MILAN (Reuters) – The Italian government is leaning toward reappointing Claudio Descalzi as CEO of state-controlled oil firm Eni, provided he will work with a new board to speed up efforts to cut carbon emissions, four senior political sources told Reuters. FILE PHOTO: Claudio Descalzi, CEO of Italian energy company......
Reuters - Business

Equinor broadens scope of carbon targets to match rivals

Reuters
OSLO/LONDON (Reuters) – Equinor joined other major European oil and gas companies on Thursday by including emissions from the fuel it sells to customers in its carbon reduction targets as investors step up the pressure on fossil fuel producers. FILE PHOTO: A general view of the Equinor’s Johan Sverdrup oilfield......
Reuters - Business

Total beats quarterly forecasts despite low oil price, lifts payout

Reuters
ABERDEEN, Scotland (Reuters) – Total (TOTF.PA) beat forecasts on Thursday by keeping net adjusted profit for the fourth quarter steady at $3.2 billion despite low oil prices and fulfilled a pledge to boost dividends, lifting the French energy major’s shares. FILE PHOTO: The logo of French oil giant Total is......
Reuters - Business

Exclusive: First Petrobras employee flips in Brazil commodity traders probe

Reuters
RIO DE JANEIRO/HOUSTON (Reuters) – A former trader at oil firm Petrobras has signed a plea bargain agreement with Brazilian prosecutors investigating bribery allegations, defense lawyers and prosecutors said, a potential breakthrough in a case involving some of the world’s top commodity trading houses. FILE PHOTO: People walk in front......
Reuters - Business

Exxon, Chevron results augur tough year ahead, shares drop

Reuters
HOUSTON (Reuters) – Weaker crude oil and gas prices drove quarterly results sharply lower at Exxon Mobil Corp and Chevron Corp, pushing down shares at the two largest U.S. oil producers and signaling a weak start to the new year. FILE PHOTO: A logo of the Exxon Mobil Corp is......
Reuters - Business

Exxon, Chevron results augur tough year ahead, shares drop 3.5%

Reuters
HOUSTON (Reuters) – Weaker crude oil and gas prices drove quarterly results sharply lower at Exxon Mobil Corp and Chevron Corp, pushing down shares at the two largest U.S. oil producers and signaling a weak start to the new year. FILE PHOTO: A logo of the Exxon Mobil Corp is......
Reuters - Business

Exxon, Chevron results augur tough year ahead, shares drop 3%

Reuters
HOUSTON (Reuters) – Weaker crude oil and gas prices drove quarterly results sharply lower at Exxon Mobil Corp and Chevron Corp, pushing down shares at the two largest U.S. oil producers and signaling a weak start to the new year. FILE PHOTO: A logo of the Exxon Mobil Corp is......
Reuters - Business

Chevron swings to quarterly loss on $10 billion in charges

Reuters
FILE PHOTO: An entrance sign at the Chevron refinery, located near the Houston Ship Channel, is seen in Pasadena, Texas, U.S., May 5, 2019. REUTERS/Loren Elliott HOUSTON (Reuters) – Chevron Corp swung to a fourth-quarter loss on $10.4 billion in charges as it stepped up efforts to cull unprofitable assets......
Reuters - Business

Exxon quarterly profit falls 5.2% on weak refining, chemical margins

Reuters
FILE PHOTO: Logos of ExxonMobil are seen in its booth at Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai/File Photo HOUSTON (Reuters) – Exxon Mobil Corp (XOM.N) reported a 5.2% drop in fourth-quarter profit on Friday, as assets sales propped up......
Reuters - Business

Petrobras workers call strike from Saturday; company says it is illegal

Reuters
FILE PHOTO: A logo of Brazil’s state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes SAO PAULO (Reuters) – Workers at Brazilian oil company Petrobras approved a plan to go on strike from Saturday, protesting a plan by the state-controlled......
Reuters - Business

Shell appoints director Goh as deputy chair

Reuters
FILE PHOTO: The logo of Royal Dutch Shell is seen at a petrol station in Sint-Pieters-Leeuw, Belgium January 30, 2019. REUTERS/Yves Herman/File Photo (Reuters) – Royal Dutch Shell (RDSa.L) said on Wednesday director Euleen Goh would take over as its deputy chair from May 20. Goh, who joined the oil......
Reuters - Business

Exclusive: Guyana opening search for oil firm to trade its crude – official

Reuters
GEORGETOWN (Reuters) – Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in an interview. Mark Bynoe, the director of Guyana’s Department of......
Reuters - Business

Real estate developer in $240 million deal to buy Philadelphia refinery

Reuters
NEW YORK (Reuters) – Real estate developer Hilco Redevelopment Partners has entered into a $240 million agreement to purchase the Philadelphia Energy Solutions oil refinery, which was the largest and oldest on the East Coast, according to court documents on Wednesday. FILE PHOTO: The Philadelphia Energy Solutions oil refinery is......
Reuters - Business

Wall Street’s trillion-dollar club dwarfs Europe Inc

Reuters
LONDON (Reuters) – With Google parent Alphabet (GOOGL.O) becoming the latest entrant to Wall Street’s trillion-dollar club, Europe’s blue-chip companies are dwarfed by comparison — the most valuable firm from the “old continent”, Nestle, is worth just a third of that. FILE PHOTO: Traders work on the floor at the......
Reuters - Business

U.S. energy exports to climb as China pledges ramp-up in purchases

Reuters
NEW YORK/SINGAPORE (Reuters) – U.S. energy exports to China, mostly crude oil and natural gas, will climb as the world’s two largest economies struck a trade agreement after a more than year-long tariff war, executives and traders said on Wednesday. FILE PHOTO: A liquified natural gas (LNG) tanker leaves the......
Reuters - Business

JPMorgan first major brokerage to rate Saudi Aramco ‘overweight’

Reuters
FILE PHOTO: Participants attend the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO) on the Riyadh’s stock market, in Riyadh, Saudi Arabia, December 11, 2019. REUTERS/Marwa Rashad DUBAI (Reuters) – JPMorgan (JPM.N) is the first major brokerage to initiate coverage of Saudi Aramco (2222.SE) with an......
Reuters - Business

Saudi Aramco raises IPO to record $29.4 billion by over-allotment of shares

Reuters
FILE PHOTO: The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018. Picture taken May 23, 2018. REUTERS/Ahmed Jadallah/File Photo DUBAI (Reuters) – State-owned oil company Saudi Aramco said on Sunday it had exercised its “greenshoe option” to sell an additional 450 million......

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