Oil up as cyberattack knocks out US pipeline
Crude oil climbed along with gasoline in New York after a cyberattack put the largest oil-products pipeline in the U.S. out of action.
Markets
Will oil hit $80 this summer?
India, the world's third-largest oil importer, is the latest coronavirus hotspot. It has recently hit a record-breaking number of new daily coronavirus cases—a statistic that dented oil demand and pressured oil prices.
i3 Energy edging closer to maiden dividend
London and Toronto-listed oil firm i3 Energy said today it would complete a balance sheet restructuring "shortly", which would allow it to pay a maiden dividend.
Schlumberger-backed Arabian Drilling plans Saudi IPO
Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.
i3 Energy allocates £1.16m for maiden dividend, says Serenity farm-out talks advanced
London and Toronto-listed oil firm i3 Energy said today it is close to declaring its maiden dividend.
China’s oil imports surge as Brent cracks $70
China’s crude oil imports surged 28% year-on-year to 12.35 million barrels per day (b/d) in February. This was 2.7 million b/d higher compared to the same period a year ago, the latest data from analytics firm OilX showed.
Oil jumps above $71 after key Saudi crude terminal attacked
Oil surged above $71 a barrel in Asian trading after Saudi Arabia said the world’s largest crude terminal was attacked, although output appeared to be unaffected after the missiles and drones were intercepted.
Updated: Activist investor says relationship with Hurricane Energy has ‘deteriorated dramatically’
One of Hurricane Energy’s biggest shareholders has threatened to take “appropriate action” to maximise the company’s potential after complaining of a breakdown in their relationship.
Premier-Chrysaor merger gets blessing from regulators and anti-trust bodies
London-listed Premier Oil’s reverse takeover by Chrysaor is on track to complete on March 31.
i3 to declare maiden dividend, in talks over Serenity stake sale
London and Toronto-listed i3 Energy said today it expects to declare its maiden dividend during the current quarter.
Perseverance yet to pay off for Bahamas oil explorer
Bahamas Petroleum Company (BPC) has said its Perseverance well struck oil, but not commercial volumes.
Petrofac postpones full-year results due to Covid restrictions
UK-headquartered energy service firm Petrofac has pushed back the publication of its full-year 2020 results to mid-April.
BP sinks to losses of £18bn in 2020 as Covid and crude price crash take toll
BP fell to pre-tax losses of £18 billion in 2020 as the energy giant’s balance sheet creaked under the weight of lower oil and gas prices.
Updated: Oil prices fall as OPEC+ extends talks to second day without decision
Oil dropped the most in two weeks with OPEC+ yet to resolve an impasse on whether to keep raising production at a time when the pandemic threatens demand.
Updated: Oil advances on Covid-19 vaccine optimism and US stimulus
Oil climbed as the UK is poised to grant regulatory approval to another Covid-19 vaccine and as the US passed its stimulus bill into law.
Tesla slides in first day of trading on the S&P 500 Index
Tesla Inc.’s shares fell as much as 6.4% in premarket trading on its first day after being added to the S&P 500 Index, as the broader market slid and the stock retraced gains from Friday when tens of millions of shares were purchased by index-fund managers.
Oil falls with virus mutation raising lockdown risks
Oil fell after posting a seventh weekly gain on concern a mutation of Covid-19 discovered in the U.K. could speed transmission of the virus and lead to more lockdowns.
Oil and gas leopards changing their spots to focus on investor returns
More oil and gas firms are “pivoting” their business models towards shareholder returns and away from high risk and reward exploration, an analyst has said.
Cairn to dish out special dividend as Senegal sale nears completion
Cairn Energy will return £188 million to shareholders following completion of the sale of its Senegalese assets to Woodside.
88E Preparing for Maiden Drilling of 1.6 Billion Barrel North Slope Project
88 Energy Ltd (ASX 88E; LON 88E) this week executed its drilling contract to drill the Merlin-1 and Harrier-1 wells for Project Peregrine on the North Slope of Alaska.
Rusty won’t let sun set on DGO’s success story
“We set it up from day one to focus on free cash flow and, as we’ve grown, that strategy really hasn’t changed. The industry has operated for too long on negative free cash flow.”
S&P strikes deal to buy IHS Markit for $39bn
S&P Global Inc. has agreed to buy IHS Markit Ltd. for about $39 billion in stock, a deal that accelerates the wave of consolidation among the finance industry’s biggest data providers.
Andrew Austin’s new venture Kistos looks to raise £32m via imminent AIM listing
Entrepreneur Andrew Austin’s new energy sector investment company expects to raise £31.75 million via its initial public offering, slated for this week.
Commodities on edge as tight US election hurts gold, aids oil
Gold fell with copper and oil pared gains as tight races in battleground states in the U.S. election shook traders’ initial faith in a decisive outcome, raising the prospect of a prolonged wait for the final result.
i3 shares rise on farm-out and maiden dividend talk
Oil firm i3 Energy is in talks over a potential farm out of stakes in its Serenity discovery in the outer Moray Firth.