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Morgan Stanley

Oil & Gas

Morgan Stanley: This is what a world without oil looks like

Much ink has been spilt over the leakage of collapsing crude prices into wider markets. A new note from Morgan Stanley analysts led by Chief Cross-Asset Strategist Andrew Sheets demonstrates the degree to which the fortunes of the energy sector are currently driving stocks and bonds, but emphasizes the correlation is overdone.

Markets

Morgan Stanley looks to wind down group which develops solar projects

Morgan Stanley plans on winding down a group that develops and structures North American solar projects as part of a plan to reduce up to 25% of jobs in its fixed income business, according to reports. The company is reducing its staffing numbers by around 1,200 workers across the globe.

Oil & Gas

Shell buys Morgan Stanley’s Europe gas and power trade book

Royal Dutch Shell has acquired Morgan Stanley's European gas and power trading book as the U.S. bank continues its exit from the sector. Shell is set to significantly increase its footprint in the gas market in the coming years if it completes its proposed $70 billion acquisition of smaller British rival BG Group and as part of a growing strategic alliance with Russia's Gazprom, the world's top gas producer. Shell Energy Europe, its supply and trading arm in the region, has signed a binding sales and purchase agreement for Morgan Stanley's portfolio, the Anglo-Dutch company said on Friday, without providing further details.

Markets

Rosneft feels sanctions’ chill in failed oil-unit deal

Morgan Stanley’s failure to complete the sale of its oil storage, trading and transport unit shows the chilling effect US sanctions are having on Russian companies including OAO Rosneft. The US bank and Rosneft, the Russian state-owned oil giant, said Monday that their deal, for an undisclosed amount, had expired after the companies failed to win regulatory approval. Morgan Stanley had warned in October that the agreement might not be completed.