In its most recent licensing round, the Norwegian Ministry of Petroleum and Energy (MPE) has awarded ...
In its most recent licensing round, the Norwegian Ministry of Petroleum and Energy (MPE) has awarded 47 new oil and gas exploration permits to 25 firms, including Equinor, DNO ASA, Wintershall Dea AG, OKEA ASA and Neptune Energy.
“Further exploration activity and new discoveries are important to maintain the production of oil and gas over time, both for Norway and Europe,” said Norwegian Minister of Petroleum and Energy Terje Aasland in a Jan. 10 press release.
Jamie Dimon Is Changing His Tune About an Economic Hurricane. He’s Not Alone.
After a difficult 2022 for investors, there may be rays of light peeking through at the start of the...
After a difficult 2022 for investors, there may be rays of light peeking through at the start of the new year.
Take heart from JPMorgan Chase CEO Jamie Dimon. He clarified Tuesday that maybe he shouldn’t have said last year that an “economic hurricane” is coming. There are clouds for sure, but he didn’t mean to predict widespread collapse. His bank is still hiring.
Nobel Prize-winning economist Paul Krugman said maybe his worries about the outlook were overblown as well. A soft landing is more likely than it seemed just a few months ago, he wrote in his New York Times column Tuesday.
The American Petroleum Institute (API) on Tuesday reported a huge build of crude inventories...
The American Petroleum Institute (API) on Tuesday reported a huge build of crude inventories by 14.865MM barrels as refining activity begins to return to normal following previous weather-related shutdowns.
U.S. crude inventories increased by 13 million barrels over the course of 2022, according to API data, while crude stored in the nation’s Strategic Petroleum Reserves sunk by 221 million barrels.
Cushing inventories showed a build of 2.3M barrels according to the API report.
Dow books nearly 200-point gain ahead of inflation data
U.S. stocks closed higher Tuesday, shaking off earlier weakness...
U.S. stocks closed higher Tuesday, shaking off earlier weakness to end near the session's high, while extending a modest advance in the first two weeks of 2023. The Dow Jones Industrial Average DJIA, +0.56% gained about 187 points, or 0.6%, ending near 33,705, slightly below the session's high. The S&P 500 index SPX, +0.70% advanced 0.7% and the rate-sensitive Nasdaq Composite Index COMP, +1.01% closed up 1%, according to FactSet. While investors didn't hear much from Federal Reserve Chairman Powell, who was speaking Tuesday from Sweden, on the central bank's next likely policy steps, stock-market bulls hoping for a soft landing for the economy were able to add to modest gains so far in January. Investors will be tuned into a monthly update on inflation on Thursday from the consumer-price index, which in recent months has shown a retreat from a peak annual rate above 9% this summer. Corporate earnings season also kicks off with major banks posting fourth-quarter results starting Friday. The Dow was up 1.7% on the year through Tuesday, while the S&P 500 gained 2.1% and the Nasdaq rose 2.6%.
