Bloomberg) — The European Union has agreed to help “strengthen the capacity” of Mozambique’s government in its fight against an escalating Islamist insurgency that’s killed more than 2,000 in a region home to Africa’s biggest foreign investments. The EU gave “a positive response” to the southeast African nation’s request for assistance, Ambassador Antonio Sanchez-Benedito Gaspar
Oil & Gas
Baker Hughes Co. on Friday reported the total number of rotary drilling rigs operating in the United States and Canada increased by eight this past week. The three-rig net gain in the U.S. brought the country’s total to 269 drilling units. The most recent U.S. count reflects four more oil rigs (to 193), a one-unit
(Bloomberg) — A strike that shut down about 8% of Norway’s oil and gas output will end after successful mediation talks, said Norwegian Oil and Gas Association spokesman Kolbjorn Andreassen The settlement will restore production at six fields already shut down by the dispute and prevent an escalation to another six over the weekend. Those
A discarded face mask is pictured near an oil pump in Long Beach, California on August 22, 2020. APU GOMES | AFP via Getty Images LONDON — OPEC on Thursday said it had downwardly revised its forecast for global oil demand growth over the long term, given the industry faced “an existential threat” this year
(Bloomberg) — Crude prices slid after oil workers in Norway called off a strike that had shut down about 8% of the country’s production. Futures in London and New York both fell over 1% on Friday. The settlement will restore production at six fields already shut down by the dispute and prevent an escalation to another six.
Many investors are speculating that Big Oil dividends could be in danger given how low the price of crude has dropped this year, but in an appearance on CNBC’s “Squawk Box,” Chevron CEO Michael Wirth defended his company’s ability to keep its dividend intact. “We continue to have a very strong balance sheet so our
(Bloomberg) — Oil climbed to the highest in more than a month as Hurricane Delta forces operators to shut in nearly 92% of crude output in the Gulf of Mexico. Futures in New York rose 3.1% as Gulf of Mexico producers shut in 1.7 million barrels a day of production ahead of Delta, which is
(Bloomberg) — Chevron Corp. overtook Exxon Mobil Corp. as the largest oil company in America by market value, the first time the Texas-based giant has been dethroned since it began as Standard Oil more than a century ago. California-based Chevron had a market capitalization of $142 billion at the close of U.S. trading on Wednesday,
(Bloomberg) — Oil pulled back from a two-week high in New York after President Donald Trump said he’s halting stimulus talks until after the election, sapping optimism for a much-needed boost in demand. U.S. crude and gasoline futures both rose more than 3% Tuesday before giving back some of those gains after the market closed.