Enbridge, Spectra merger valued at $28 billion WASHINGTON, Feb 16 (Reuters) – Canada’s Enbridge Inc and Spectra Energy Corp have won U.S. antitrust approval for a $28 billion merger that will create the largest North American energy infrastructure company. The Federal Trade Commission said on Thursday that it would approve the deal. The merger was […]
FTC approves Enbridge deal to buy Spectra with conditions Read More »
Dakota Access protesters ordered to leave by Feb. 22 Feb 15 (Reuters) – The governor of North Dakota ordered protesters on Wednesday to evacuate a demonstration camp near the site of the Dakota Access Pipeline in the latest move to clear the area that has served as a base for opposition to the multi-billion dollar project.
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Cenovus laid off nearly one-third of its workforce since 2014 Feb 16 (Reuters) – Canadian oil and gas producer Cenovus Energy Inc reported a surprise quarterly profit as production rose and costs fell. Oil and gas companies, battered by a two-year slump in oil prices, have sharply cut costs and are also benefiting from a
Cenovus Energy posts surprise profit as costs fall, output rises Read More »
Thousands protested Dakota Access Pipeline last year By Philip Pullella VATICAN CITY, Feb 15 (Reuters) – Pope Francis appeared on Wednesday to back Native Americans seeking to halt part of the Dakota Access Pipeline, saying indigenous cultures have a right to defend “their ancestral relationship to the earth”. The Latin American pope, who has often
Pope appears to back native tribes in Dakota Access Pipeline conflict Read More »
TransCanada net loss down to $358 million from $2.46 billion Feb 16 (Reuters) – TransCanada Corp, Canada’s No. 2 pipeline operator, reported a better-than-expected quarterly profit, helped by strength in its U.S. and Mexican pipeline businesses. The company said earnings from its U.S. natural gas pipeline business rose more than four-fold to C$416 million, due
TransCanada posts better-than-expected profit Read More »
Oil prices fall as crude stocks rise By Jessica Resnick-Ault NEW YORK, Feb 15 (Reuters) – Oil prices fell slightly on Wednesday as record high U.S. crude and gasoline inventories fed concerns about a glut, but trade was choppy and losses were limited by evidence that OPEC and other producing countries were complying with agreed-upon supply
Oil prices reverse course and pull back after brief rally Read More »
Alfa CFO says company focusing resources on core business MEXICO CITY, Feb 14 (Reuters) – Mexican conglomerate Alfa said on Tuesday it will sell its energy projects in the Eagle Ford shale in Texas, as well as its energy assets in Peru, while also stalling all energy investments due to lingering low oil prices. Alfa’s
Alfa to sell oil assets in Eagle Ford, Peru, pauses energy spend Read More »
Devon Energy posts Q4 profit vs. year-ago loss Feb 14 (Reuters) – Devon Energy Corp reported a bigger-than-expected quarterly profit, as the U.S. oil producer benefited from its cost-cutting initiatives. Devon, like other oil and gas companies, has been keeping a tight leash on costs since a slide in global crude oil prices started in
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Noble Group looking to rejig business units By Anshuman Daga and Sumeet Chatterjee SINGAPORE/HONG KONG, Feb 14 (Reuters) – China’s state-owned Sinochem is in early talks with Noble Group to buy an equity stake in the embattled trader, three sources familiar with the matter said, in a move that would help it gain access to
China’s Sinochem in early talks to buy stake in Noble Group – sources Read More »
Enormous concentration of hedge fund long positions emerged as important source of price risk in near term By John Kemp LONDON (Reuters) – Hedge funds have accumulated a record bullish position in crude futures and options, betting on further price rises, but the lopsided nature of the positioning has become a key source of risk
Oil is becoming a crowded trade as hedge funds pile in: Kemp Read More »
