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February 27, 2021

Oil & Gas (TRBC level 3)

White House restores key climate measure calculating carbon’s harm

Reuters
by Reuters01
FILE PHOTO: Democratic 2020 U.S. presidential candidate and former Vice President Joe Biden walks past solar panels while touring the Plymouth Area Renewable Energy Initiative in Plymouth, New Hampshire, U.S., June 4, 2019. REUTERS/Brian Snyder/ WASHINGTON (Reuters) – The White House on Friday announced a major change in how the......
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NYSE starts move to delist Chinese state oil producer CNOOC

Reuters
by Reuters01
FILE PHOTO: Logos of China National Offshore Oil Corporation (CNOOC) are displayed at a news conference on the company’s interim results in Hong Kong, China, March 23, 2017. REUTERS/Bobby Yip (Reuters) – The New York Stock Exchange on Friday decided to begin formal delisting of Chinese state oil giant CNOOC......
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Petrobras gets single offer from SBM for Mero 4 oil platform – sources

Reuters
by Reuters01
A man walks past the headquarters of Brazilian oil company Petrobras in Rio de Janeiro, Brazil, February 22, 2021. REUTERS/Ricardo Moraes RIO DE JANEIRO (Reuters) – Brazil’s state-controlled oil company Petrobras received only one proposal, from Holland’s SBM Offshore, in a bid to contract construction of the Mero 4 oil......
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Occidental Petroleum expects temporary impact from winter storms

Reuters
by Reuters01
FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid (Reuters) – The impact of severe winter storms in Texas last week that shuttered oil production in the top......
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Oil prices rise further on slow U.S. output restart

Reuters
by Reuters01
SINGAPORE (Reuters) – Oil prices rose again on Tuesday after a jump in the previous session, holding near a more than 13-month high as U.S. output was slow to return after a deep freeze in Texas shut in crude production last week. FILE PHOTO: An employee holds a sample of......
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Occidental Petroleum posts larger quarterly loss on asset sale

Reuters
by Reuters01
HOUSTON (Reuters) – Occidental Petroleum Corp on Monday posted a larger-than-expected fourth-quarter loss despite higher oil and gas prices as an asset sale weighed on results. FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New......
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Oil gains as U.S. production slowly returns after freeze

Reuters
by Reuters01
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo TOKYO (Reuters) – Oil prices rose on Monday as the slow return of U.S. crude output that was cut by frigid conditions raised......
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Global dividend payouts forecast to revive in 2021

Reuters
by Reuters01
LONDON (Reuters) – Global dividend payments could rebound by as much as 5% this year, a new report estimated on Monday, after the coronavirus caused the biggest slump in payouts since the financial crisis more than a decade ago. FILE PHOTO: Canary Wharf stands in London, Britain December 27, 2020.......
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Brazil’s Petrobras executive management in talks on possible mass resignation – sources

Reuters
by Reuters01
A worker checks the fuel volumes on a train wagon near a tank of Brazil’s state-run Petrobras oil company in Brasilia, Brazil, February 19, 2021. REUTERS/Ueslei Marcelino RIO DE JANEIRO (Reuters) – Petroleo Brasileiro SA’s executive management is considering resigning en masse after the Brazilian government decided to replace Chief......
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Bolsonaro says nominating replacement for Petrobras CEO

Reuters
by Reuters01
FILE PHOTO: A man walks past the headquarters of Brazilian oil company Petrobras in Rio de Janeiro, Brazil, September 10, 2020. REUTERS/Ricardo Moraes SAO PAULO (Reuters) – Brazil’s government has decided to nominate Joaquim Silva e Luna as the next chief executive of state-controlled oil company Petrobras, according to a......
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Column: Commodity prices – Supercycle or regular upturn? Kemp

Reuters
by Reuters01
LONDON (Reuters) – Commodity markets may be about to embark on another supercycle – a multi-year, broad-based, and usually large increase in prices – according to research published by some of the top investment banks involved in the sector. FILE PHOTO: A wheel loader operator fills a truck with ore......
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Column: Commodity prices – Supercycle or regular upturn? Kemp

Reuters
by Reuters01
LONDON (Reuters) – Commodity markets may be about to embark on another supercycle – a multi-year, broad-based, and usually large increase in prices – according to research published by some of the top investment banks involved in the sector. FILE PHOTO: A wheel loader operator fills a truck with ore......
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Oil price rally points to more OPEC+ easing from April: sources

Reuters
by Reuters01
LONDON/DUBAI/MOSCOW (Reuters) – OPEC+ oil producers are likely to ease curbs on supply after April given a recovery in prices, OPEC+ sources said, although any increase in output will be modest as producers are wary of fresh setbacks in the battle against the pandemic. FILE PHOTO: A 3D printed oil......
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Glencore reinstates dividend as 2020 net debt drops

Reuters
by Reuters01
JOHANNESBURG, Feb 16 (Reuters) – Glencore on Tuesday reinstated its dividend after net debt fell by 10% in its full-year 2020, helped by surging commodity prices in the second half The commodities trader and miner which scrapped its dividend in August last year after a first-half loss amid the COVID-19......
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Norway union, oil firms agree wage deal, averting strike

Reuters
by Reuters01
OSLO, Feb 16 (Reuters) – Norway’s oil industry employers struck a wage bargain with the Safe labour union on Tuesday, preventing a strike at the Mongstad crude terminal and shutdowns of major offshore oil and gas fields, Safe told Reuters. Operator Equinor had said a strike could reduce Mongstad’s storage......
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Nigeria’s president calls for calm after clashes in southwest Oyo state

Reuters
by Reuters01
Security forces guard the Lekki Toll Gate in Lagos, Nigeria, February 13, 2021. REUTERS/Temilade Adelaja LAGOS (Reuters) – Nigeria’s president appealed for calm on Sunday following reports of intercommunal violence between ethnic groups at a market in the southwestern state of Oyo. Clashes between traders from the Yoruba and Hausa......
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U.N. envoy urges U.S. to relax Venezuela sanctions, drawing opposition rebuke

Reuters
by Reuters01
FILE PHOTO: A person plays the double bass ahead of Venezuela’s President Nicolas Maduro’s delivery of his annual state of the nation speech during a special session of the National Constituent Assembly, in Caracas, Venezuela January 12, 2021. REUTERS/Manaure Quintero/File Photo CARACAS (Reuters) – A U.N. envoy on Friday said......
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Marathon Oil confirms layoffs amid ongoing cost cuts

Reuters
by Reuters01
Feb 11 (Reuters) – U.S. oil and gas producer Marathon Oil Corp has laid off employees and cut its U.S. organizational footprint, a company spokeswoman told Reuters, days after it reduced salaries for top executives and board members. The company did not disclose how many employees were impacted by the......
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Chesapeake Energy emerges from bankruptcy and shifts back to natural gas

Reuters
by Reuters01
HOUSTON (Reuters) – U.S. shale producer Chesapeake Energy Corp on Tuesday exited Chapter 11 bankruptcy with business plan that nods to its founders’ emphasis on natural gas after a recent push into crude oil. FILE PHOTO: Chesapeake Energy Corporation’s 50 acre campus is seen in Oklahoma City, Oklahoma, on April......
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