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Oilfield Services Firm SLB Names New Chief Strategy, Performance Officer

(Reuters) – Oilfield services provider SLB has named new chief strategy and performance officers, according to a company memo seen by Reuters, the latest steps in a larger reorganization of its global structure. Aparna Raman has been appointed chief strategy and marketing officer, the memo said, effective March 1. Raman was most recently president of …

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Pipeline Company Enbridge Reports $493 Million Q4 Profit

Enbridge Inc. reported a profit attributable to common shareholders of $493 million in its fourth quarter, down from $1.73 billion a year earlier. The pipeline company says the profit amounted to 23 cents per share for the quarter ended Dec. 31, down from 81 cents per share in the last three months of 2023. On …

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Latest US Sanctions on Russia Throw Global Oil Trade Into Disarray

Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices. Washington’s January 10 sanctions targeted tankers carrying Russian oil in a push to more effectively limit Moscow’s oil revenue, the aim …

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Russia to be ‘Reintegrated’ Into World Economy if War in Ukraine Ends, Orban Says

Russia will be “reintegrated” into the world economy and the European energy system once a peace deal is achieved and the war ends in Ukraine, Prime Minister Viktor Orban told state radio on Friday. “If the U.S. president comes and creates peace, there is a deal, I think Russia will be reintegrated into the world …

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Trump Says India Agreed to Purchase More US Oil and Gas

 President Donald Trump said on Thursday the U.S. and India have struck an agreement that includes India importing more U.S. oil and gas to shrink the trade deficit between the two countries. Trump made the comments after a bilateral meeting at the White House with India’s Prime Minister Narendra Modi. (Reporting By Jarrett Renshaw; Editing …

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Soros to Slim Are Plowing Money Into US Shale Oil as Private Equity Retreats

Ultra-rich families are flocking to the industry, lured by more stable returns after years of boom-and-bust cycles. Oil rigs in the Permian Basin. Photographer: Sergio Flores/Bloomberg By David Wethe and Benjamin Stupples Once a relatively rare presence in the US oil industry, firms overseeing the assets of ultra-rich families — including the billionaire dynasties of …

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Hedge Fund Elliott Commands Attention in C-suites as Relentless Activist

When Elliott Investment Management buys into a company to agitate for change, bankers and lawyers who have faced the hedge fund say executives can expect a strong view on their shortcomings, backed by meticulous research and financial firepower. Now, storied oil giant BP is in Elliott’s sights. The investment firm, which manages $70 billion, has …

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OPEC Sticks to 2025, 2026 Global Oil Demand Growth Forecasts

(Reuters) – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential trade tariffs were not expected to impact economic growth. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise …

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Mexico to Boost Crude Reserves to Meet at Least a Decade of Demand, Pemex CEO Says

(Reuters) – Mexico plans to boost its crude oil reserves to ensure it has enough for at least a decade of consumption, the chief executive officer of state energy company Pemex, Victor Rodriguez, said on Wednesday. Pemex has 12 strategic projects that will account for 61% of this hydrocarbon production, Rodriguez added. Speaking alongside Mexican …

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US Crude Stockpiles Build on Ongoing Refinery Maintenance, EIA Says

(Reuters) – U.S. crude oil inventories rose last week as refinery maintenance continued, while gasoline stockpiles posted a surprise draw, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 4.1 million barrels to 427.9 million barrels in the week ended February 7, the EIA said, compared with analysts’ expectations in a Reuters …

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