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Oxy faces a heavyweight in Anadarko Prize Fight

14 hours ago DieselGasoil Comments Off on Oxy faces a heavyweight in Anadarko Prize Fight
By Liam Denning on 4/24/2019 WASHINGTON (Bloomberg Opinion) — Anadarko Petroleum’s executives will be big winners in bidding war. Oh yeah, and the shareholders, too. It’s been a bruising 24 hours for CEO Al Walker and the board. First, it emerged the board had tweaked severance terms in favor of the c-suite just a day Read More

U.S. may not be able to offset Iran oil losses

15 hours ago DieselGasoil Comments Off on U.S. may not be able to offset Iran oil losses
By Sheela Tobben on 4/24/2019 Photo: U.S. Secretary of State Mike Pompeo. NEW YORK (Bloomberg) — Secretary of State Mike Pompeo proclaimed America’s ability to help offset supply losses when the the U.S. vowed to stop any sales of Iranian crude. Maybe, but it would be a stretch. Oil condensate from the Eagle Ford shale Read More

Alberta eyes private producers as option to move crude

15 hours ago DieselGasoil Comments Off on Alberta eyes private producers as option to move crude
By Kevin Orland on 4/24/2019 CALGARY (Bloomberg) — Shifting Alberta’s shipments of crude-by-rail to private producers, is an option that Cenovus Energy Inc. CEO Alex Pourbaix said Alberta Premier-Elect Jason Kenney may be able to consider, instead of scrapping the plan altogether. Kenney, who takes office next week, has vowed to end predecessor Rachel Notley’s Read More

Saudis see no need for immediate action on oil market

22 hours ago DieselGasoil Comments Off on Saudis see no need for immediate action on oil market
By Anthony DiPaola, Matthew Martin and Yousef Gamal El-Din on 4/24/2019 DUBAI (Bloomberg) — Saudi Arabia’s energy minister said the world’s biggest oil exporter sees no need to take immediate action in the crude market, signaling a cautious response to the U.S. decision to tighten sanctions on Iran. The kingdom won’t significantly raise output in Read More

Equinor bends to investor pressure on climate

22 hours ago DieselGasoil Comments Off on Equinor bends to investor pressure on climate
By Kelly Gilblom on 4/24/2019 LONDON (Bloomberg) – Equinor is the latest large oil company to bow to a major investor group that is pushing corporations to take more robust action on climate change. The Norwegian giant has agreed to align its business model with the goals of the 2015 Paris climate accord and will Read More

Bayer bosses facing shareholder reckoning over Monsanto deal as cancer lawsuits mount

23 hours ago DieselGasoil Comments Off on Bayer bosses facing shareholder reckoning over Monsanto deal as cancer lawsuits mount
German Pharmaceutical giant Bayer is running into mounting shareholder opposition ahead of its annual meeting on Friday. The company’s investors are faulting management for failing to foresee the risks of its biggest deal ever. A growing number of shareholders have said they won’t support executives and supervisory board members in the upcoming no-confidence vote. The Read More

Occidental makes Anadarko bid, seeks to derail Chevron deal

23 hours ago DieselGasoil Comments Off on Occidental makes Anadarko bid, seeks to derail Chevron deal
By Simon Casey and Kevin Crowley on 4/24/2019 NEW YORK and HOUSTON (Bloomberg) — Occidental Petroleum is starting a bidding war for Anadarko Petroleum, making a $38 billion counteroffer in attempt to break up the proposed takeover by Chevron. Occidental said Wednesday it’s offering $76/share in cash and stock, a premium of about 20% over Read More

European shares hit highest since August on Credit Suisse, SAP

24 hours ago DieselGasoil Comments Off on European shares hit highest since August on Credit Suisse, SAP
LONDON (Reuters) – World shares pared back losses on Wednesday as positive earnings in Europe from Credit Suisse and investor support for SAP helped soothe worries that China has put broader stimulus on hold. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville Read More

World shares fall as China stimulus worries offset upbeat Credit Suisse earnings

1 day ago DieselGasoil Comments Off on World shares fall as China stimulus worries offset upbeat Credit Suisse earnings
LONDON (Reuters) – World shares took a step back on Wednesday as signals that China has put broader stimulus on hold offset positive results from Credit Suisse, which kicked off the earnings season for European investment banks. FILE PHOTO: The German share price index DAX board is pictured at Frankfurt’s stock exchange in Frankfurt, Germany Read More

Trump’s Iran decision could kill the OPEC+ deal

1 day ago DieselGasoil Comments Off on Trump’s Iran decision could kill the OPEC+ deal
Trump’s decision to let Iran waivers expire could kill off the OPEC+ deal while dealing a serious blow to the coalition’s ability to coordinate production cuts. The Wall Street Journal reported that the Trump administration’s decision to let waivers expire “surprised buyers and others who had been told by State Department officials in recent weeks to expect Read More