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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......

Qatari foreign minister: Iran says it has matters ‘under review’ over nuclear pact, al Jazeera TV reports

Reuters
May 21 (Reuters) – (This May 21 story was corrected after Al Jazeera TV corrected its translation to “under review” [not “compromise”], headline, paragraph 1.) Qatar’s foreign minister said in remarks cited on Saturday by al Jazeera TV that Qatar had been informed by Iran that matters were “under review”......

Israel’s Oil Refineries posts Q1 loss, refining margins rise

Reuters
JERUSALEM, May 22 (Reuters) – Israel’s Oil Refineries (ORL) (ORL.TA) swung to a loss in the first quarter, as a revaluation of futures contracts offset a jump in revenue amid a steep rise in global oil prices. ORL, Israel’s largest refining and petrochemicals group also known as Bazan, said on......

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......

Russia halts gas flow to Finland, intensifies push for Donbas

Reuters
Russia launches assault in Luhansk Russia claims victory after weeks-long siege at Azovstal Russia stops Finland gas flows over payment dispute Russian military says destroyed Western arms in Zhytomyr region KYIV/OSLO, May 21 (Reuters) – Russia stopped providing gas to Finland in an escalation of a row over energy payments......

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......

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......

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......

Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury

Reuters
May 18 (Reuters) – An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc (TSLA.O) from the widely followed S&P 500 ESG Index (.SPXESUP)because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, and Tesla CEO Elon Musk......

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......

Indian shares slump as inflation, economic slowdown fears linger

Reuters
A security guard walks past the logo of the National Stock Exchange (NSE) inside its building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register BENGALURU, May 19 (Reuters) – Indian shares dropped 2% on Thursday, weighed down by a broader market......

Column: Europe fills gas storage at record rate as Asia’s buyers step aside: Kemp

Reuters
A general view of the WINGAS gas storage facility near the northern German town of Rehden January 7, 2009. REUTERS/Christian Charisius Register now for FREE unlimited access to Reuters.com Register LONDON, May 17 (Reuters) – Europe’s gas inventories are rebuilding after winter at the fastest rate on record as the......

Alberta premier says Canada could boost oil export to U.S., calls for major new pipeline

Reuters
Alberta Premier Jason Kenney addresses delegates at the annual Alberta United Conservative Party (UCP) convention in Calgary, Alberta, Canada November 20, 2021. REUTERS/Todd Korol Register now for FREE unlimited access to Reuters.com Register May 17 (Reuters) – Canada could add over a million barrels per day (bpd) of oil export......

Yellen calls on allies to step up funding for Ukraine

Reuters
BRUSSELS, May 17 (Reuters) – U.S. Treasury Secretary Janet Yellen called for U.S. allies to step up financial support for Ukraine on Tuesday, saying that funds announced so far would not be sufficient for the country’s short-term needs as it battles a Russian invasion. “Ukraine’s financing needs are significant,” Yellen......

Iraq balks at greater Chinese control of its oilfields

Reuters
Iraq persuaded Lukoil to halt sale to Sinopec – sources Baghdad concerned China becoming too dominant – sources Western firms not happy with terms of Iraqi deals LONDON/BASRA, May 17 (Reuters) – Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over......

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