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...The investment will strengthen Abu Dhabi’s position as an AI hub, and is a sign of the oil-rich emirate’s ambitions in the technology....
...Gas and power trading has overtaken oil as the biggest source of profits in the sector, contributing almost half of the industry’s gross earnings in 2022, according to Oliver Wyman....
...The Biden administration defended the LNG pause this week in a letter to the American Petroleum Institute, a Big Oil lobby group that has campaigned against it, saying the approvals process needed updating...
...in trading Russian oil....
...“The market had been complacent about the Gaza conflict expanding to include Iran and, therefore, a material risk to Arabian Gulf oil and [liquefied natural gas] production and exports,” he said....
...However, he said that Pemex would “keep working with private companies,” adding it would soon announce a private partner for a major deepwater gasfield in the Gulf of Mexico called Lakach....
...Aramco shares were up 1.6 per cent in Sunday trading on the local Tadawul exchange....
...The plans mark a bet by the Gulf state that strong demand for the fuel will continue, with Asian economies switching from coal as part of efforts to cut carbon dioxide emissions....
...Around the Gulf war of 1990, oil doubled while the S&P 500 fell almost 20 per cent. Over time, the price moves have become less severe....
...Ithaca has guided to production of 56,000 to 61,000 barrels of oil equivalent a day this year, versus 70,200/day in 2023. A deal would simply be trading assets around a troubled basin....
...Saudi Arabia’s decision “appears to be a huge rethink of strategy and will have wide ramifications to Aramco capital spending, the Gulf supply chain and of course Opec+ oil policy”, Syme said....
...The waters of the Strait of Hormuz, near where the MSC Aries was seized, are the world’s most important route for oil tankers, carrying oil from Saudi Arabia and other Gulf producers to the wider world....
...out, according to executives from mining companies and trading houses, as well as a senior US government official....
...They rose 1 per cent in early trading on Tuesday to 142p after Sparta’s letter....
...The SEC described Loudon as currently employed by a publicly traded company....
...Oil trading represents about 30 per cent of total revenues. Alongside gas and power trading, the group is investing in green technologies such as battery storage and biogas....
...Taqa’s statement was made shortly after the Spanish regulator suspended trading in Naturgy shares on the Madrid stock exchange....
...Federal waters of the Gulf account for about nearly 2mn barrels a day of crude oil production, or about 15 per cent of total US production that has recently been hitting records....
...The company said late on Thursday that it had received no communication from the vessel since it was boarded. The ship is a “Suezmax” tanker, the largest kind that can use the Suez Canal fully laden....
...Oil companies make more money today at $90 than they did 10 years ago, when it comes to the long term.”...
...“The environment right now is very positive for the oil and gas industry,” Alan Armstrong, chief executive of Williams, the biggest US gas pipeline company, told the Financial Times....
...Shares were up almost 3 per cent in morning trading on Wednesday.Ithaca said its potential merger with Eni’s assets would be a “transformational” deal for the company, which agreed in April 2022 to pay as...
...Big Oil is using its richly-valued shares to buy good assets held by companies with a higher cost of equity....
...Steve Hill, head of liquefied natural gas trading at Shell, will depart the company after eight years....
...An oil price range of $80 to $100 per barrel “feels like a sensible range”, the chief executive of Dutch oil trading company Vitol told the FT’s Commodities Summit on Tuesday, as global oil prices traded...
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