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Nigeria wants term buyers for new Utapate crude, seeks to double output

Nigeria wants term buyers for new Utapate crude, seeks to double output By Robert Harvey and Enes Tunagur LONDON, Nov 20 (Reuters) - Nigeria is seeking term customers for its new crude oil grade Utapate and is aiming to double output by the end of 2025 from 40,000 barrels per day, state-owned NNPC and venture partner Natural Oilfield Services said at the grade's official launch.
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Venture Global LNG's second plant running over budget, document shows

Venture Global LNG's second plant running over budget, document shows Plaquemines LNG costs are $2.35 billion over budget, document says Company expects pre-commercial cargoes to offset higher cost Initial plant to cost $9.8 billion after repairs completed By Curtis Williams and Echo Wang HOUSTON/NEW YORK, Nov 18 (Reuters) - Venture Global LNG's second liquefied natural gas export plant, currently under construction in Louisiana, is $2.35 billion over budget and costs could still rise, according
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Venture Global LNG earned $4.85 billion from operations in 2023, document shows

EXCLUSIVE-Venture Global LNG earned $4.85 billion from operations in 2023, document shows Financial documents disclose rapid growth in revenue and profit Risks include lawsuits by big-name customers BP, Shell and Edison Estimated costs for building three new US LNG export facilities to top $100 bln Adds analysts quotes, new financial details at paragraphs 5, 9-12 By Echo Wang and Curtis Williams NEW YORK/HOUSTON, Nov 15 (Reuters) - Venture Global LNG, which has rocketed into the top ranks of U.S
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Spain's Moeve swings to quarterly loss on weak refining margins

Spain's Moeve swings to quarterly loss on weak refining margins MADRID, Nov 15 (Reuters) - Spain's second-largest oil company Moeve, formerly known as Cepsa, posted a third-quarter loss after a sharp decline in refining margins hit its energy business. Like its larger Spanish competitor Repsol REP.MC and a host of peers including France's TotalEnergies TTEF.PA and BP BP.L , the company's refining margins collapsed amid weaker global economic activity and new refineries coming online.
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Trump pick Rubio could harden oil sanctions on Iran, Venezuela

Trump pick Rubio could harden oil sanctions on Iran, Venezuela Stricter targeting of Iranian oil could be tempered by China concerns Trump will need to determine if sanctions can help achieve his goals Foreign ports, refineries processing Iran exports could be targeted By Timothy Gardner and Vivian Sequera WASHINGTON/CARACAS Nov 13 (Reuters) - President-elect Donald Trump's pick of U.S.
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Big Oil's climate targets

Big Oil's climate targets Updates Repsol's entry Nov 12 (Reuters) - The world's biggest oil and gas companies have set varying targets to reduce greenhouse gas emissions from their operations and the combustion of the products they sell. On Tuesday, Shell won an appeal against a landmark 2021 ruling that required it to cut its absolute carbon emissions by 45% by 2030 compared to 2019 levels, including those caused by the use of its products.
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Big Oil's climate targets

Big Oil's climate targets Updates paragraph 2 to reflect Shell no longer being bound by Dutch court to cut Scope 3 emissions; updates BP's abandonment of goal to cut oil and gas production in chart; updates emissions graphics for oil majors to reflect 2023 data. Nov 12 (Reuters) - The world's biggest oil and gas companies have set varying targets to reduce greenhouse gas emissions from their operations and the combustion of the products they sell.
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North Sea Crude-WTI Midland, Brent weaken

North Sea Crude-WTI Midland, Brent weaken LONDON, Nov 8 (Reuters) - U.S. WTI Midland crude and North Sea Brent differentials weakened on Friday, while Forties rose after a higher bid. PLATTS WINDOW * Indications are free on board (FOB) unless marked as cost, insurance and freight (CIF) or delivered at place (DAP). * WTI Midland: Petroineos bought Nov.
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North Sea Crude-Forties trades twice

North Sea Crude-Forties trades twice LONDON, Nov 7 (Reuters) - North Sea Forties crude traded twice in the Platts window on Thursday, while Ekofisk and U.S. WTI Midland were also on offer. PLATTS WINDOW * Indications are free on board (FOB) unless marked as cost, insurance and freight (CIF) or delivered at place (DAP). * Forties: Petroineos bought two cargoes in the Platts window, one from Mercuria with Nov.
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US sides with Argentina in dispute over $16 billion YPF judgment

UPDATE 1-US sides with Argentina in dispute over $16 billion YPF judgment Updates Nov. 6 article to add Burford statement, paragraph 5 By Jonathan Stempel NEW YORK, Nov 7 (Reuters) - The U.S. government sided with Argentina in urging a federal judge not to force the cash-strapped country to give up its 51% stake in oil and gas company YPF YPFDm.BA to partially satisfy a $16.1 billion court judgment.
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US sides with Argentina in dispute over $16 billion YPF judgment

US sides with Argentina in dispute over $16 billion YPF judgment By Jonathan Stempel NEW YORK, Nov 6 (Reuters) - The U.S. government sided with Argentina in urging a federal judge not to force the cash-strapped country to give up its 51% stake in oil and gas company YPF YPFDm.BA to partially satisfy a $16.1 billion court judgment. In a Wednesday night letter to U.S.
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North Sea Crude-WTI Midland, Forties and Ekofisk weaken

North Sea Crude-WTI Midland, Forties and Ekofisk weaken LONDON, Nov 6 (Reuters) - Crude differentials for U.S. WTI Midland, North Sea Forties and Ekofisk weakened on Wednesday after lower offers and a lack of buying interest. PLATTS WINDOW * Indications are free on board (FOB) unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).
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North Sea Crude-WTI weakens while Forties and Ekofisk rise

North Sea Crude-WTI weakens while Forties and Ekofisk rise LONDON, Nov 5 (Reuters) - U.S. WTI Midland crude differentials rose on Tuesday after a deal while North Sea Forties and Ekofisk rose. PLATTS WINDOW * Indications are free on board (FOB) unless marked as cost, insurance and freight (CIF) or delivered at place (DAP). * WTI Midland: Total bought from Repsol a CIF Rotterdam Nov.
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OIL PRODUCT DELIVERIES TO THE SPANISH MARKET FROM FUEL DISTRIBUTOR EXOLUM TERMINALS INCREASED BY 10.7% IN OCTOBER YEAR ON YEAR

BRIEF-Oil Product Deliveries To Spanish Market From Fuel Distributor Exolum Terminals Increased By 10.7% In October YoY Nov 4 (Reuters) - Exolum: OIL PRODUCT DELIVERIES TO THE SPANISH MARKET FROM FUEL DISTRIBUTOR EXOLUM TERMINALS INCREASED BY 10.7% IN OCTOBER YEAR ON YEAR Further company coverage: REP.MC (Gdansk Newsroom)
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Spanish stocks - Factors to watch on Nov 4

Spanish stocks - Factors to watch on Nov 4 Nov 4 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Monday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy: SACYR SCYR.MC Sacyr said on Sunday it would expand and operate Aguilas desalination plant in Murcia with Ferrovial FERF.AS for 51 million euros ($55.56 million).
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Venezuela's oil exports hit a 4-year peak on higher output, sales to US, India

Venezuela's oil exports hit a 4-year peak on higher output, sales to US, India By Marianna Parraga and Mircely Guanipa HOUSTON/MARACAY, Nov 1 (Reuters) - Venezuela's oil exports rose to a four-year high, approaching 950,000 barrels per day in October, boosted by growing crude output and more sales to India and the United States, according to shipping data and documents from state firm PDVSA.
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Barclays downgrades Repsol, says it 'can't fight the wider macro'

BUZZ-Barclays downgrades Repsol, says it 'can't fight the wider macro' ** Barclays downgrades Spanish oil company Repsol REP.MC to "equal weight" from "overweight" due to weaker refining margins and U.S. Henry Hub gas price weakness ** It says Repsol's strategy is the strongest it's been in over two decades, but that cannot offset the weaker refining margins and HH price that are likely to weigh on Repsol's earnings more than peers ** It notes Repsol's Q3 refining margin in Spain fell by more th
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Spanish stocks - Factors to watch on Nov 1

Spanish stocks - Factors to watch on Nov 1 Nov 1 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Friday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy: INDRA IDR.MC Indra said on Thursday it completed acquisition of Deimos. PRISA PRS.MC Prisa said on Thursday it opened a second conversion period of notes issued in April, and, separately, that it had opened a fourth period of notes issued in February 2023. RE
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Hellofresh, Maersk, Scout24

EUROPE RESEARCH ROUNDUP-Hellofresh, Maersk, Scout24 Nov 1 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Hellofresh, Maersk and Scout24 on Friday. HIGHLIGHTS * Hellofresh SE HFGG.DE : JP Morgan raises to overweight from neutral * Knorr Bremse AG KBX.DE : Exane BNP Paribas cuts to neutral from outperform * Maersk MAERSKb.CO : JP Morgan raises target price to DKK 9,000 from DKK 8,575 * Next Plc NXT.L : Citigroup raises target price
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Vopak expects clean energy investments to accelerate towards 2030, CEO says

Vopak expects clean energy investments to accelerate towards 2030, CEO says Spent less than $100 mln of the $1 bln pledged to invest by 2030 Projects slowed by lack of government mandates, higher costs Aims to capture bigger share of biofuels market By Florence Tan and Jeslyn Lerh SINGAPORE, Nov 1 (Reuters) - Global tank storage operator Vopak VOPA.AS has committed just a fraction of the $1 billion it allocated for energy transition projects by 2030 but expects investments to accelerate towards
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