Energy Financial

Savanna Energy acquisition turns hostile as Total buys outstanding shares

Energy Financial

Savanna Energy calls Total’s offer “inferior” to Western’s Total Energy Services Inc. announced in connection with its previously announced offer to purchase all of the issued and outstanding common shares of Savanna Energy Services Corp., it has purchased through the TSX, 35,000 Savanna Shares. All of the shares were purchased on March 16, 2017, according […]

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Oil prices fall on Thursday, US crude inventories near record highs

Energy Financial

Oil prices eased Thursday Oil prices fell slightly on Thursday despite support from a weaker US dollar as record highs of crude inventories in the United States offset suggestions that OPEC-led supply cuts were beginning to reduce supplies. Earlier in the week, the Energy Information Agency reported US oil inventories fell slightly, helping lift oil prices on

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Savanna Energy increases acquisition purchase price from Western Energy

Energy Financial

Savanna Energy reiterates rejection of offer from Total Energy Savanna Energy Services Corp. announced that Western Energy Services Corp. has increased the consideration payable pursuant to its previously announced acquisition of common shares of Savanna, according to a press release. It now includes the payment of $0.21 in cash per Savanna Share in addition to the

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Brent spreads become battleground amid doubts over oil rebalancing: Kemp

Energy Financial

Critical question is whether rebalancing will continue or driven off course by resurgence of US shale By John Kemp LONDON, March 14 (Reuters) – Global oil markets are gradually rebalancing, but progress has been slower and more uneven than the Organization of the Petroleum Exporting Countries and bullish hedge funds expected. OPEC as well as most commentators, crude

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Oil prices fall, set for biggest three-day loss in a year

Energy Financial

Oil prices fell below $50/barrel on Thursday Oil prices continued to fall for a third day on Friday on concerns that increased US production will dampen OPEC’s willingness to continue to cut output if prices continue to drop. After reports of a large increase in US crude inventories and domestic crude production were released earlier this week, market confidence

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Oil prices fall five per cent as US inventories rise for ninth straight week

Energy Financial

Oil prices at lowest levels this year On Wednesday, oil prices fell five per cent to their lowest levels in 2017y after a report issued by the US Department of Energy showed a much larger increase in US crude inventories than expected, feeding concerns that the global crude supply glut is not easing. Technical analysts say

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Oil prices steady as increased US supply offsets Saudi comments

Energy Financial

Oil prices slightly down in Tuesday trading Oil prices fell by pennies in trading on Tuesday as growing US crude production cancelled out morning gains fuelled by Saudi Arabia’s oil minister comments on improving market fundamentals. Also affecting oil prices, the American Petroleum Institute reported US crude stocks rose last week by 11.6 million barrels, or

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