Energy Update

You are here

Home » Global Read

Oil prices edge down as slowing demand adds to high output

* Brent crude prices near 11-year lows as demand sags * WTI premium remains as U.S. lifts export ban, production stalls * But falling U.S. output not enough to end global oversupply By Henning Gloystein SINGAPORE, Dec 29 (Reuters) - Crude oil futures came under renewed pressure early on Tuesday as fears of slowing demand added to near-record global production levels, which have already slashed prices by two-thirds since the middle of last year. Front-month U.S. West Texas In

UPDATE 1-Carl Icahn trumps Bridgestone's offer for Pep Boys again

Dec 28 (Reuters) - Activist investor Carl Icahn trumped Japanese tire maker Bridgestone Corp's latest offer for Pep Boys-Manny Moe & Jack by $1.50 per share, as the bidding war for the U.S.

UPDATE 2-Snow slows truck traffic in Permian, some crude output hit

HOUSTON, Dec 28 (Reuters) - A snowstorm dumped around two feet (60 cm) of snow in parts of the Permian Basin in West Texas and New Mexico over the weekend, crimping some crude output and leaving roads dangerous for trucks heading to and from oil wells, forecasters and companies said on Monday.

White House: Obama updated on Iraqi forces' progress in Ramadi

HONOLULU, Dec 28 (Reuters) - U.S. President Barack Obama was updated on Monday on the progress made by Iraqi security forces over Islamic State militants in Ramadi, the White House said.

Obama to welcome Canada's Trudeau for official visit March 10

HONOLULU, Dec 28 (Reuters) - President Barack Obama will welcome Canadian Prime Minister Justin Trudeau for an official visit to Washington on March 10, complete with a rare state dinner and discussions about energy and climate change, the White House said on Monday.

Sudan's parliament passes 2016 budget with 1.6 pct deficit

KHARTOUM, Dec 28 (Reuters) - Sudan's parliament passed its 2016 budget on Monday and projected a budget deficit of 1.6 percent of GDP for the coming year, up from 1.2 percent for 2015, Finance Minister Badr al-Din Mahmoud Abbas said.

UPDATE 3-Freeport-McMoRan Chairman James Moffett to step down

* Shares fall as much as 8.5 pct (Adds background, analyst comment; updates shares)

REFILE-WRAPUP 1-Saudi plans spending cuts, reforms to shrink huge budget deficit

RIYADH/DUBAI, Dec 28 (Reuters) - Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy subsidies and a drive to raise revenues from taxes and privatisation.

Abengoa Creditors Agree on a New 106 Million-Euro Loan

Abengoa SA creditors, including Banco Santander SA and HSBC Holdings Plc, have reached a final agreement to provide the troubled renewable energy company with a 106 million-euro ($116 million) credit line to help it pay workers’ salaries and suppliers.

HSH Nordbank to Push Renewable Lending Past $1.1 Billion

HSH Nordbank, the state-owned lender based in Hamburg, plans to boost project-finance loans for clean energy to more than 1 billion euros ($1.1 billion) for the first time next year, highlighting its confidence in the industry’s outlook.

Pages

GET IN TOUCH

  • 1875 I Street NW, International Square, 
       Washington, District Of Columbia, 20006
  • Phone: +1 (888) 317-3839
  • Email: info@mglllc.com

About

Misha Gerhard & Lewis LLC is International Strategic Consulting Firm with an extensive presence in the most rapidly developing regions of the world.

Photos