Finance and markets: business, quotes, gold, energy and releases.
Found 2641 articles
With demand for the Dangote Petroleum Refinery’s public offering reportedly tripling the target, investors are rushing to claim a stake in Africa’s largest industrial project. Yet, beneath the celebratory atmosphere of the IPO lies a complex financial reality: the challenge of converting national strategic importance into reliable, long-term shareholder dividends.
Military campaigns across the Middle East and Eastern Europe have turned critical energy infrastructure into primary battlefields. As refineries become the preferred targets for combatants, the resulting loss of processing capacity is driving global fuel prices to historic highs while exposing a dangerous vulnerability in the world's energy supply chain.
With German gas storage levels hovering below 62% ahead of winter, Trafigura has finalized a $1.5 billion, five-year agreement to supply 150 TWh of natural gas to state-owned importer Securing Energy for Europe (SEFE).
A 400 million pound investment will keep the Interconnexion France-Angleterre operating until at least 2050, securing a critical energy bridge between the two nations. As Britain faces rising demand from AI and electric vehicles, National Grid is doubling down on this subsea link to stabilize supply and lower consumer costs.
A localized cease-fire in the Russian-occupied city of Oleshky has entered its third day, providing a rare window for humanitarian aid. Yet, officials and advocates warn the pause may serve as a cover for the forced transfer of civilians to Russian territory and the tactical repositioning of Moscow’s frontline forces.
The closure of the Strait of Hormuz has forced the European Union to pay an extra $11 billion monthly for petroleum imports. Between April and July, the bloc saw its monthly energy spending surge to $30.7 billion, a 55.8% increase that reflects the raw economic cost of the regional conflict.
Surging oil and gas prices combined with historically high refining margins delivered a $9.1 billion third-quarter profit for TotalEnergies, effectively doubling the French supermajor’s earnings from the previous year and comfortably outpacing analyst expectations of $8.3 billion.
A volatile energy market fueled by Middle East supply constraints and restricted Russian diesel exports has pushed Shell’s third-quarter earnings to $10.814 billion. This figure nearly doubles the $5.432 billion reported during the same period last year, marking the company’s strongest performance since 2022.
Chancellor John Healey faces a critical test of fiscal credibility this week as economists warn that his maiden Budget will likely defer major decisions on defence and welfare. By sidelining long-term commitments in favor of short-term energy relief, the Treasury risks unsettling bond markets already wary of government spending sustainability.
A fresh appraisal well in the Norwegian North Sea has revealed that the Afrodite gas discovery holds double the reserves previously anticipated. By drilling into the reservoir this past autumn, operator Equinor confirmed that the site, first identified in 2008, now holds between 77 and 180 million barrels of oil equivalent.
Brussels has declared further climate finance commitments dead in the water, signaling a sharp pivot from its role as the world’s leading donor. Climate Commissioner Wopke Hoekstra confirmed the European Union will not offer additional funding at the upcoming COP31 conference in Turkey, citing internal economic strain.
Solar energy has officially overtaken nuclear power in the global energy mix, producing 13 percent more electricity worldwide in 2025. This milestone marks a dramatic reversal from 2015, when nuclear generation outpaced solar by a factor of ten, driven largely by a 90 percent collapse in solar panel costs since 2010.
With natural gas prices hitting 100 euro per MWh and diesel supplies tightening, European energy ministers are gathering today to confront a precarious winter outlook. The meeting focuses on mitigating rising costs for consumers while addressing structural vulnerabilities in the continent’s refinery capacity and gas storage levels.
Driven by the explosive power needs of domestic data centers and a global scramble for liquefied natural gas, U.S. producers are pushing output to historic highs. The industry is responding to a fundamental market shift, moving from a supply-led cycle to a demand-driven era that is reshaping the American energy landscape.
High-level delegations from Saudi Arabia, Turkey, and Pakistan gathered in Tehran this week to pursue a regional security framework, yet the prospect of de-escalation remains fragile. While Iranian officials signal openness to talks, the ongoing threat to energy infrastructure and the depletion of global stockpiles keep oil prices elevated.
Crude prices retreated from recent highs after U.S. Vice President JD Vance reached out to Iran’s Supreme National Security Council to revive stalled peace negotiations. The move, aimed at de-escalating tensions, signals a potential shift in diplomatic strategy despite earlier threats of renewed hostilities from the White House.
A landmark deal will bring 45,000 Nvidia Grace Blackwell GPUs to Kazakhstan, a move that signals the Central Asian nation’s aggressive pivot toward becoming a regional intelligence hub. The infrastructure expansion, led by firm Firebird.ai, aims to transform the country’s energy exports into high-value AI processing power by 2027.
China is set to pay an average of $248 per thousand cubic meters of Russian pipeline gas in 2026, a 56 percent discount compared to what other foreign customers pay. This steep price break highlights a shifting power dynamic as Moscow relies on Beijing to sustain its war economy.
At least 50 Iranian oil tankers currently sit stranded in the Persian Gulf, trapped by a U.S. naval blockade that has effectively slashed the country’s floating storage to near zero. Despite this export paralysis, Iranian economic planners are reportedly considering a $130 per barrel scenario for the upcoming 2027 fiscal budget.
The Malta-flagged Agioi Fanendes, initially destined for New York with 40,000 metric tons of Russian diesel, is currently idling off the coast of Denmark with no declared port. This shift follows intense political backlash and legal threats directed at the vessel’s owner, Eastern Mediterranean Maritime, regarding the legality of the cargo.
Utilities are racing to modernize aging infrastructure, and GE Vernova is positioning itself at the center of that shift with the $9 billion acquisition of high-voltage equipment maker Trench Group. The deal, paired with a significant upward revision of 2026 revenue forecasts, underscores the company's aggressive pursuit of the electrification market.
India is on track to import a record 2.8 million tonnes of LNG this October, defying a global price surge that has seen costs triple over the past year. As domestic production stagnates and the energy gap widens, the nation is increasingly forced to rely on expensive spot-market cargoes to sustain its economy.
With commercial shipping generating roughly one billion tonnes of carbon emissions annually, the maritime sector is shifting its focus toward small modular reactors. A new report from the British Ports Association and Lloyd's Register suggests that nuclear technology could transform ports into self-sufficient, low-carbon energy hubs.
Persistent volatility in the Middle East and sluggish production recovery have forced UBS to raise its year-end Brent crude forecast to $110 per barrel. The Swiss bank’s latest adjustment reflects deepening concerns over regional security and a market increasingly stripped of the strategic reserves that once provided a buffer against price spikes.
While Western sanctions and Ukrainian refinery strikes have disrupted Russia's domestic energy infrastructure, they have failed to collapse crude export volumes. New data from UBS chief economist Arend Kapteyn reveals that Moscow has successfully rerouted its supply chains, keeping export levels within 10% of pre-war averages.
Bolstered by record refinery margins and high commodity prices, Equinor is raising its 2026 oil and gas growth forecast to 4%. The Norwegian energy giant reported a third-quarter operating profit of $11.96 billion, more than doubling its performance from the same period last year as international assets offset domestic production plateaus.
A bipartisan coalition of lawmakers is pressuring major U.S. banks and port authorities to reject Russian diesel shipments, warning that facilitating the trade could trigger criminal investigations and violate federal law despite President Donald Trump’s recent move to waive sanctions on the fuel.
PetroChina’s third-quarter net profit climbed 21.6% to 51.84 billion yuan, or $7.78 billion, as the company capitalized on oil and gas price volatility linked to the conflict in Iran. Despite these robust financial gains, the firm grappled with declining domestic production and a softening appetite for traditional transportation fuels.
Commercial crude stockpiles in the United States dipped by 1.9 million barrels for the week ending October 23, leaving national reserves 4% below the five-year seasonal average. This latest contraction, confirmed by the Energy Information Administration, arrives as international benchmarks continue a sharp upward trajectory across global trading desks.
A retreat in global shipping rates from record October highs has reignited Chinese interest in West African and Brazilian crude oil. With freight costs dropping by roughly $10 per barrel, refiners are securing December cargoes to offset the loss of cheap Iranian feedstock and rising competition for Russian ESPO supplies.