Cenovus Energy Inc. agreed to buy Husky Energy Inc. in a C$3.8 billion ($2.9 billion) all-stock deal that will combine two of the largest players in Canada’s beleaguered oil-sands industry, which is struggling after the slump in crude prices.
RBC Capital Markets
There are “signs that the market has tightened in recent weeks and the OPEC++ agreement … is working to start to rebalance the market,” ADNOC’s CEO Sultan Ahmed al-Jaber said in comments at the company’s ‘Virtual Majlis’.
Tanzania has struggled to pay its debts to local gas producers but there are signs this is changing, with Wentworth Resources and Orca Exploration posting strong quarterly results on improved collections and higher gas demand.
Oil price predictions always end in disaster but complacency in the market poses a number of risks, given global uncertainty.
The deal OPEC struck in 2016 to clear a global glut by halting a significant chunk of oil production took almost a year of bargaining and brinkmanship. By year-end, the group may have lost the same amount of crude unintentionally.
The joint venture created by Centrica E&P’s link-up with Bayerngas Norge could open the door to further M&A activity, an industry analyst has said.
Mohammed bin Salman’s appointment as Saudi Arabia’s crown prince will not derail plans for listing the Kingdom’s oil and gas producer, an analyst has said.