Brent oil climbs to 2014 high as geopolitical unrest returns
Brent oil extended gains to the highest level in seven years as geopolitical tensions stirred in the Middle East and concerns about the demand impact of the omicron virus variant eased.
Markets
Commodity trader King Eyes $200 oil
A hedge fund run by commodities trader Doug King posted a record return last year, thanks to soaring energy, food, power and freight prices.
EDF slumps by most on record on hit from price cap
Electricite de France plunged by a record as the French government confirmed plans to force it to sell more power at a steep discount to protect households from surging wholesale electricity prices.
Enterprise to buy permian pipeline operator Navitas for $3.3billion
Enterprise Products Partners LP agreed to buy Navitas Midstream Partners LLC from Warburg Pincus LLC for $3.25 billion in cash to add natural gas pipeline and processing assets in the Permian Basin, the world’s most prolific shale basin.
TechnipFMC de-lists from Euronext, sells £100m stake in TechnipEnergies
TechnipFMC has decided to de-list from the Euronext Paris after selling off a chunk of its holding in spin-off firm TechnipEnergies.
Aftermath of COP26 questions future of fossil fuels finance and what’s next for renewable energy investing
The COP26 climate conference in Glasgow should have made uncomfortable viewing for fossil fuel executives.
Centurion Group continues acquisition spree with Aberdeen subsea firm Aleron
Private equity-backed Centurion Group has swooped in with two more acquisitions, including Aberdeen subsea firm Aleron.
Shell overtakes AstraZeneca on FTSE 100 top spot, share buybacks going ‘at pace’
Shell (LON: RDSA) has overtaken AstraZeneca to become the company with the largest market value on the FTSE 100 index.
UK gives itself 3 months to find fix for energy price rise
The UK government is giving itself until April to find a solution to soaring gas prices since that’s when consumers would start feeling the bite of a new cap on utility bills.
Oil steadies after OPEC+ adds more output on tightening market
Oil was steady in Asian trading after OPEC and its allies agreed to a scheduled increase in production for next month, and an industry report pointed to another decline in US crude inventories.
Former Valaris CEO joins private equity group SCF Partners
Tom Burke, the former CEO of drilling rig giant Valaris, has joined private equity group SCF Partners.
Oil edges higher as Libyan output falls ahead of OPEC+ meeting
Oil edged higher as Libyan supply tightened ahead of an OPEC+ meeting on Tuesday to discuss production policy for February.
OPEC+ seen reviving output in sign of confidence for 2022 demand
OPEC and its allies are expected to revive more oil supplies when they meet on Tuesday, underscoring the group’s optimism in the outlook for global demand.
European gas, power extend slump as LNG supplies promise relief
European natural gas prices fell for a fourth day as US supplies are expected to bring relief to the tight market and traders weighed both milder weather and risks to demand from the Omicron virus variant.
Energy beats the broader market for the first time in five years
Divesting from oil and gas has been a profitable trade for the last couple of years. Now, for the first time since 2016, investors who held on to energy shares are poised to outperform the broader market.
Schroders announces £358million deal for renewables asset manager Greencoat Capital
Schroders has announced a £358million deal to acquire 75% of Greencoat Capital, one of Europe’s largest renewable energy infrastructure managers.
Kistos confirms move for TotalEnergies West of Shetland assets
Kistos (LON: KIST)Â has confirmed it is bidding to acquire assets being put on sale by TotalEnergies in the West of Shetland.
EU leaders fail to agree on energy amid carbon price dispute
European Union leaders failed to reach a deal on how to react to the unprecedented gas crisis that sent energy prices to record levels after Poland and the Czech Republic demanded stronger action to cap the costs of pollution.
Equinor seeks $1billion North Sea sale: Report
Equinor is reportedly seeking a $1billion sale of a stake in the Martin Linge oil field in the North Sea.
Ofgem seen asleep at the wheel in energy supplier crisis
Pressure is growing on the UK energy regulator to account for its role in allowing a landslide of energy suppliers to go out of business, at a cost to consumers.
Centrica continues hunt for North Sea exit after Spirit Energy Norway sale
British Gas owner Centrica has said it will continue its strategy to exit the UK North Sea after announcing a deal to sell Spirit Energy Norway for £800million.
Aker, BP sell £480m stake in joint venture
BP (LON: BP) and Aker (OSLO: AKER) have successfully offloaded a 5% stake in their Norwegian joint venture.
Net Zero Investing: The New Hydrogen Economy
Global energy companies are shifting to ESG investing; but what role can hydrogen play in the new energy economy? In this new series focusing on environmental, social and governance (ESG) investing in the energy industry, Mike Scott takes the temperature of the industry’s response to date, as well as the challenges ahead that this shift will present.
Uptick of Brent Crude price triggers market momentum
During Q3 2021 we have seen continued M&A activity within the global energy markets. A major contributing factor to this has been the price uptick of Brent Crude, jumping above $80 per barrel for the first time since October 2018.
Ineos unveils £1.7billion green hydrogen investment plan
Ineos is making what it claims to be Europe's largest ever investment in green hydrogen production.