Energy Update

You are here

Home » Global Read

UPDATE 1-Teck, Freeport shares slide on debt, metals price worries

VANCOUVER/TORONTO, July 23 (Reuters) - Shares of global miners Freeport-McMoRan Inc and Teck Resources Ltd took a pounding on Thursday as investors worried about balance sheets stretched by debt and capital commitments as metal prices continued to tumble.

Teck, Freeport shares slide on debt, metals price worries

VANCOUVER/TORONTO, July 23 (Reuters) - Shares of global miners Freeport-McMoRan Inc and Teck Resources Ltd took a pounding on Thursday as investors worried about balance sheets stretched by debt and capital commitments as metal prices continued to tumble.

Petrobras union may follow 24-hour strike with September walkout

RIO DE JANEIRO, July 23 (Reuters) - Brazil's main oil workers union is considering an open-ended strike in September if a 24-hour walkout scheduled for midnight Thursday fails to stop moves to shrink state-run oil company Petrobras, a senior union official said.

UPDATE 1-Offshore driller Hercules says weeks from bankruptcy

July 23 (Reuters) - Hercules Offshore Inc, stung by slumping demand for drilling services in older Gulf of Mexico oilfields, said on Thursday it plans to file for creditor protection in about three weeks and emerge several months later with a restructured balance sheet.

Treasury Secretary says U.S. keep right to impose Iran sanctions over rights

WASHINGTON, July 23 (Reuters) - U.S.

New S.African crude blending terminal to supply Asia from 2017

CAPE TOWN, July 23 (Reuters) - Using the world's first dedicated crude oil blending terminal, South Africa will by 2017 mix different grades of crude oil for export to refineries across Asia, enabling them to produce cleaner fuels more cheaply, an official said on Thursday.

German exports to Russia slide 34 percent due to sanctions

BERLIN, July 23 (Reuters) - German exports to Russia slumped by 34 percent in the first five months of the year to 4.4 billion euros due to Western sanctions imposed on Moscow over the Ukraine crisis, a lobby group representing German industry in eastern Europe said on Thursday.

Key Democratic senator: U.S. negotiators 'got an awful lot' in Iran talks

WASHINGTON, July 23 (Reuters) - U.S. Senator Ben Cardin, the top Democrat on the Senate Foreign Relations Committee, said on Thursday he has not yet decided how he would vote on the nuclear agreement with Iran but said he felt U.S. negotiators had made significant progress.

UPDATE 2-Miner Teck beats expectations, eyes further coal cutbacks

July 23 (Reuters) - Canadian miner Teck Resources Ltd reported a better-than-expected quarterly profit on Thursday, reflecting higher metals sales and lower costs, but said coal output could need further cutbacks if grim market conditions continue.

Germany's coal imports expected to fall 5.7 pct

DUESSELDORF, July 23 (Reuters) - Germany's coal imports are likely to fall to 53 million tonnes in 2015 from a record high last year of 56.2 million, lobby group VDKi said on Thursday, citing lower demand from power stations and steelmakers.

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