African Markets – Factors to watch on Feb. 1

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. – – – – – EVENTS: * Ethiopia's Prime Minister Abiy Ahmed will hold a question and answer session with members of parliament on Friday morning at the legislature building in the capital Addis [Read more]

Source: BOE Report

Sempra Energy’s Port Arthur LNG Export Project And Two Natural Gas Pipelines Receive Final Environmental Impact Statement From FERC

SAN DIEGO, Jan. 31, 2019 /PRNewswire/ — Sempra Energy (NYSE: SRE) today announced it received the Final Environmental Impact Statement (FEIS) from the Federal Energy Regulatory Commission (FERC) to construct the Port Arthur LNG natural gas liquefaction-export project in Jefferson County, Texas, as well as the Texas and Louisiana connector pipeline projects that will deliver natural [Read more]

Source: BOE Report

Energy just had its best month in years, and one stock could rally even harder

The energy trade is burning up. The energy ETF (XLE) just posted its biggest monthly gain since 2015, buoyed by oil’s bestJanuary since 1983. Frank Cappelleri, chief market technician at Instinet, said that kind of advance could fuel an even bigger crude rally which may spill over into energy stocks. “Crude oil is up about 20 percent for the month which is kind of rare. It’s only happened 11 other times since 1983,” Cappelleri said Thursday on CNBC’s “Trading Nation.” “At the same time, it’s been up the following month seven times.” One energy name in particular piques Cappelleri’s interest, and it’s about to report earnings. “Chevron looks pretty interesting,” he said. “Recently it’s formed a cup-and-handle pattern over a couple of years. We think that can play out.” CLICK HERE TO READ THE ENTIRE ARTICLE BY THE ORIGINAL PUBLISHER
Written by Keris Lahiff at CNBC
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Source: Roseland Oil & Gas

Oil surges more than 18 percent this month for its best January on record

U.S. crude oil surged this month to post its best January performance on record, breaking a three-month losing streak that saw futures lose nearly half of their value. Crude futures have powered through a steady flow of weak economic data from China, the world’s second biggest oil consumer, amid an ongoing trade dispute with Washington. The energy complex has been boosted by OPEC-led production cuts aimed at draining oversupply and U.S. sanctions on Venezuela, which threaten to disrupt global trade flows and bolster prices. U.S. West Texas Intermediate crude prices ended Thursday’s session down 44 cents at $53.79 a barrel, after hitting a two-month high at $55.37. WTI posted an 18.5 percent monthly gain, its biggest jump since April 2016 and its best January since the futures began trading in 1983. CLICK HERE TO READ THE ENTIRE ARTICLE BY THE ORIGINAL PUBLISHER
Written by Tom DiChristopher at CNBC
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Source: Roseland Oil & Gas

U.S. crude settles lower amid trade concerns

NEW YORK (Reuters) – U.S. crude prices settled lower on Thursday as uncertainty about trade overtook bullish news about production cuts and U.S. monetary policy that drove prices higher early in the session. U.S. President Donald Trump said on Thursday he would either strike a very big trade deal with China or “postpone” it, which sent oil traders scrambling to sell in the last day of trading for the March contract. “There was a tendency to take profits if there was any sign of weakness, and President Trump’s suggestion that a deal with China could be postponed triggered a move lower,” said Phil Flynn, oil analyst at Price Futures Group in Chicago. CLICK HERE TO READ THE ENTIRE ARTICLE BY THE ORIGINAL PUBLISHER
Written by Jessica Resnick-Ault at Reuters
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Source: Roseland Oil & Gas

Shell’s full-year profit surges to four-year high, beats expectations

Oil giant Royal Dutch Shell reported better-than-expected full-year earnings on Thursday, as deep cost cuts introduced after the 2014 energy market downturn filtered through. Full-year profits jumped 36 percent to $21.4 billion in 2018 — as cost savings helped the Anglo-Dutch company record its highest annual profits since 2014. Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in at $5.7 billion. This compared to a company-provided analyst consensus of $5.28 billion for the final three months of 2018, according to Reuters. “Shell delivered a very strong financial performance in 2018, with cash flow from operations of $49.6 billion, excluding working capital movements,” Royal Dutch Shell CEO Ben van Beurden, said in a statement published Thursday. CLICK HERE TO READ THE ENTIRE ARTICLE BY THE ORIGINAL PUBLISHER
Written by Sam Meredith at CNBC
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Source: Roseland Oil & Gas

Greenfields Petroleum Corporation Announces Extension of Debt Payment and Voluntary Options Surrender

HOUSTON, Jan. 31, 2019 (GLOBE NEWSWIRE) — Greenfields Petroleum Corporation (the “Company” or “Greenfields”) (TSX VENTURE: GNF), a production focused Company with operating assets in Azerbaijan, announces an extension of the senior debt payment and restructuring fee payment along with a voluntary surrender of options. Loan Facility The Company has signed a payment deferral letter [Read more]

Source: BOE Report