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...“In the long term China needs both to keep gas supplies diversified — that is a very important part here.”...
...Petroleum Corporation and the French energy company TotalEnergies....
...The Singapore-registered company is one of a handful of privately held firms that help form the backbone of the global economy, moving everything from oil and gas to metals and power around the world....
..., the largest natural gas producer in the US....
...We start with the oil and gas sector that is due to wrap up a bumper earnings season this week....
...In a report this month, oil and gas supermajor Shell forecast global demand for LNG would climb by more than 50 per cent to reach 625mn to 685mn tonnes by 2040, and would continue to grow during that decade...
...Separately, Shell is suing Greenpeace for targeting its oil and gas assets, in what Greenpeace says is “one of the biggest legal threats” it has faced....
...It follows another case in which a group of land owners in West Virginia alleged natural gas producer EQT had fraudulently transferred 700 ageing wells to Diversified Energy to avoid clean-up responsibilities...
...When the bank published its new climate policy in February, it cited the IEA report as it announced it would restrict financing specifically for non-diversified oil and gas companies that were investing...
...“In terms of the construction . . . the sanctions, I don’t think have worked,” said Ben Seligman, a project specialist for Arctic oil and gas development....
...Most of the world’s largest commodity traders, who play a key role in selling and transporting everything from oil and gas to metals and grains across the world, remain in private hands, feeding concerns...
...After several years of selling off non-core assets in order to focus on its mainstay of deep sea oil and gas production, Petrobras again intends to be a diversified energy group, in line with the wishes...
...All eligible assets from Glencore, as well as those from oil and gas companies Repsol, BP and Shell, were issued by their financial subsidiaries, effectively exempting them from the ECB’s proposed limit....
...That has obvious implications for oil,” he said....
...On Monday, securities filings revealed a hang-up in Chevron’s $60bn stock deal to acquire smaller rival Hess Corporation....
...The China National Offshore Oil Corporation owns 25 per cent, while Hess holds the remaining 30 per cent that would transfer to Chevron if the deal closes....
...The dispute between the two US oil supermajors has dominated discussions both on and offstage at CERAWeek, an annual gathering of the biggest names in the oil and gas industry....
...Chevron has warned that its planned $53bn acquisition of Hess could be thwarted by rivals ExxonMobil and China National Offshore Oil Corporation, which are asserting their right to pre-empt its purchase...
...In securities filings this week, US oil company Chevron disclosed a potential hang-up for its pending $53bn all-stock acquisition of smaller rival, Hess Corporation....
...The group said it would continue to invest in Nigeria, focusing on its deepwater oil operations and integrated gas business....
...The “Trojan horse” approach holds that if an oil company followed its resolutions it would “conclude that there is no room for further investments in exploring for more oil and gas”, Follow This said....
...“Hess’s acquisition of prospective acreage in Guyana was the best oil deal in modern history, and one of the worst decisions by Shell to exit,” said Paul Sankey, an oil and gas equity analyst....
...The next four crude cargoes will be supplied by the state-owned oil company the Nigerian National Petroleum Corporation (NNPC) in “two to three weeks” and ExxonMobil will supply the last of the initial six...
...Shares of state-owned Oil and Natural Gas Corporation also gained sharply. Tata Consultancy, Infosys, Wipro and HCL Technologies released earnings reports last week....
...It has also diversified in recent years into trading gas, power and other commodities, and trades some $150bn worth of commodities a year. Additional reporting by Sam Jones...
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