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BKV Corporation has formed a strategic joint venture with Copenhagen Infrastructure Partners (CIP), on behalf of its Energy Transition Fund I, to expand BKV’s portfolio of carbon capture, utilization and sequestration (CCUS) projects. CIP, on behalf of its Energy Transition Fund I, has agreed to commit $500 million to be invested by the JV for use in designing, constructing and operating CCUS projects across the United States in exchange for up to a 49% interest in the JV. BKV has contributed to the JV its ownership of the Barnett Zero and Eagle Ford projects, and has committed to…
(Bloomberg) – The drilling unit of the United Arab Emirates’ biggest oil company expects to make three acquisitions in the second half of this year totaling about $500 million, as it expands in technology and hardware to bolster growth. Two of the deals will be for businesses developing artificial intelligence applications, ADNOC Drilling Co. Chief Financial Officer Youssef Salem said in an interview. The third will be a purchase of drilling rigs as the company expands in the Middle East. State-owned Abu Dhabi National Oil Co. listed the drilling unit in 2021 to raise capital and develop a…
(Bloomberg) – Oil rose as algorithmic traders fled short positions amid renewed optimism about trade talks between the U.S. and China this weekend. West Texas Intermediate climbed 1.9% to settle near $61 a barrel, the highest in over a week, as the Trump administration weighs reducing levies on China to de-escalate tensions and temper the economic pain in both countries. The rally was limited by President Donald Trump’s comments that an 80% tariff on China “seems right.” Meanwhile, commodity trading advisers, which tend to exacerbate price swings, liquidated short positions to sit at 91% short in both WTI and Brent on Friday,…
(Bloomberg) – Oil rose as algorithmic traders fled short positions amid renewed optimism about trade talks between the U.S. and China this weekend. West Texas Intermediate climbed 1.9% to settle near $61 a barrel, the highest in over a week, as the Trump administration weighs reducing levies on China to de-escalate tensions and temper the economic pain in both countries. The rally was limited by President Donald Trump’s comments that an 80% tariff on China “seems right.” Meanwhile, commodity trading advisers, which tend to exacerbate price swings, liquidated short positions to sit at 91% short in both WTI and Brent on Friday,…
China’s Crude Buying Underscores Demand Resilience April trade data from China added weight to the bullish case. While total crude imports dipped slightly from March, they remained 7.5% higher than the same period last year. State refiners reportedly accelerated purchases during planned maintenance outages, suggesting stockpiling activity and underlying confidence in forward consumption. This data helped alleviate demand-side concerns, particularly as broader Asian consumption remains under scrutiny. OPEC+ Supply Plan Still Looms Over the Market Despite the positive demand signals, the supply side remains a headwind. OPEC+ confirmed it will increase crude production by another 411,000 barrels per day in…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Saudi Aramco reported a fall in first-quarter profits, resulting in a $10bn cut to its dividend and lowering a key source of funds for Saudi Arabia’s budget amid an uncertain outlook for oil prices.The world’s largest oil company’s net income dropped 5 per cent from a year earlier to $26bn. Its average realised oil price was $76.30 a barrel, compared with $83 a barrel in the same quarter last year.While the performance was better than that of some of its peers, including…
LandBridge Company LLC has reported $44 million in revenue for the first quarter of 2025, up from $36.5 million for the fourth quarter of 2024 and $19 million for the corresponding quarter a year prior. The company attributed the sequential increase to increases in surface use royalties of $6.8 million, resource sales of $4.2 million, and resource royalties of $3.5 million. LandBridge said its net income for the quarter landed at $15.5 million, up from $8.2 million for the fourth quarter of 2024 and $10.8 million for the corresponding quarter of 2024. “Our strong start to the year is evidence…
Welcome back to our Sunday edition, where we round up some of our top stories and take you inside our newsroom. Happy Mother’s Day to anyone celebrating today. I’m Alistair Barr. I’m subbing in this week to get some practice ahead of Tech Memo, a BI newsletter launching very soon. It’s a weekly inside look at Big Tech — what you need to know, what it’s like to work in Silicon Valley, and how to get ahead. I’m paying for two kids in college right now, so do me a solid and sign up here!On the agenda today:But first: Working…
Assam Chief Minister Himanta Biswa Sarma inaugurated a project aimed at supplying natural gas via pipeline to Guwahati city, at an event held at Lok Sewa Bhawan.This development marks the commencement of the project’s first phase, wherein 101 households in the Geetanagar locality have been incorporated. Concurrently, he virtually inaugurated Barak Valley’s first Compressed Natural Gas (CNG) station in Silchar. He also laid the foundation stone for the commencement of piped gas supply works in Hajo, Sualkuchi, Rangia, and Baihata Chariali.Sarma described the pipeline-based natural gas initiative, undertaken by Purba Bharati Gas Private Limited, as a promising step towards a…
As a small business owner, Ramon van Meer said he’s used to hearing people say they’d be willing to pay more for products made in America.When President Donald Trump ratcheted up tariffs on Chinese imports by an additional 145%, van Meer decided to see if shoppers would put their money where their mouth is.”I wanted to know the answer and then use it for my own company,” the Afina founder told Business Insider. So the serial entrepreneur set about finding US suppliers to make his best-selling product: a specialized filtered shower head.Van Meer said his filters are made in the…