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Energy, Oil, Financing, Banks, Wall Street, Lending, Fossil Fuel

Energy, Oil, Financing, Banks, Wall Street, Lending, Fossil Fuel

Energy Lending Shrinks as Upstream Spending Declines

Presidio, SPAC, Merger, Panhandle

Presidio, SPAC, Merger, Panhandle

Presidio Targets Public Debut in $660M SPAC Deal

Chevron, Exxon, Europe, Oil, Production

Chevron, Exxon, Europe, Oil, Production

Exxon, Chevron Raise Production as Europe Falls Behind

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

Tankers Deliver Russian Crude to India Despite USA and EU Pressure

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Closing Oil & Gas Prices for Friday
Benchmark U.S. crude oil for...
Benchmark U.S. crude oil for February delivery fell 33 cents to $73.56 per barrel Friday. Brent crude for February delivery fell 32 cents to $79.07 per barrel.

Wholesale gasoline for January delivery fell 3 cents to $2.13 a gallon. January heating oil fell 4 cents to $2.66 a gallon. January natural gas rose 4 cents to $2.61 per 1,000 cubic feet.
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Rig Count Drops for Second Week in a Row
U.S. energy firms this week cut the number of oil and...
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since mid-November, energy services firm Baker Hughes said in its closely followed report on Dec. 21.

The oil and gas rig count, an early indicator of future output, fell by three to 620 in the week to Dec. 21, the lowest since mid-November.

Baker Hughes said that put the total rig count down 159 rigs, or 20%, below this time last year.

Baker Hughes said U.S. oil rigs fell by three to 498 this week, their lowest since mid-November, while gas rigs rose by one to 120, their highest since mid-September.

The total number of drilled but uncompleted (DUC) wells remaining dropped to a record low of 4,415 in November, according to federal energy data going back to December 2013.

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Shell, Trinidat NGC Get 30yr License to Produce in Venezuela
A license extended by Venezuela to Shell and...
A license extended by Venezuela to Shell and Trinidad and Tobago's National Gas Company (NGC) will allow the companies to produce natural gas off the South American country's coast for 30 years, state oil company PDVSA said on Friday.

Venezuela, Shell, and NGC on Thursday signed the license in Caracas for the Dragon project following a U.S. authorization granted in January, which could mark the OPEC country's first exports of its vast offshore gas reserves.
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☕️ What Else Is Brewing Friday Morning
US and Chinese militaries are on speaking terms...
US and Chinese militaries are on speaking terms again. For the first time in over a year yesterday, the highest-ranking US military officer, the chairman of the Joint Chiefs of Staff, spoke with his Chinese counterpart. The top brass hopped on a video call to discuss “global and regional security issues” and the need for lower-level talks. In 2022, China’s military stopped talking to the US in response to what it saw as a provocative trip to Taiwan taken by then-House Speaker Nancy Pelosi. But President Biden and China’s leader, Xi Jinping, recently met in San Francisco and agreed that the two superpower militaries should resume talking regularly to diffuse tensions.

A deadly mass shooting shook the Czech Republic. A student at Charles University in Prague killed at least 14 people and injured dozens more yesterday. He’s also suspected of killing his father earlier in the day and two other people last week. Students were told to barricade themselves in classrooms, and some had to crouch on a ledge to escape the shooter. Police sealed the area and said the perpetrator had been “eliminated.” The interior minister called the devastating violence unprecedented in the country, which has a low gun crime rate. Authorities said that the gunman might have been inspired by a shooting in Russia earlier this year.

There might be a problem with your Honda. The Japanese carmaker said yesterday that it’s recalling 22 Honda and Acura models released between 2017 and 2020 over a faulty fuel pump impeller. The component helps deliver gas to the engine, and a defective one might cause a car to stall or fail to start, though Honda says it has not received any reports of crashes or injuries related to the issue. Still, the problem means 2.5 million vehicles in the US will be recalled. Affected vehicle owners can get their fuel pump replaced free of charge once the automaker starts sending notices in February.
- Rudy Giuliani filed for bankruptcy after a jury ordered him to pay $148 million for defaming two former Georgia election workers.
- Ikea warned that Houthi attacks on commercial ships in the Red Sea could delay its deliveries.
- Bird flu is likely to spread in Antarctica, posing existential threats to some species, including emperor penguins, according to experts.
- Vin Diesel was sued yesterday by a former assistant, who accused the Fast & Furious actor of sexual battery.
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Panama Canal crisis takes a toll on US gasoline exports
Reduced shipping capacity through the Panama Canal due to severe drought has prompted some US Gulf Coast...
Reduced shipping capacity through the Panama Canal due to severe drought has prompted some US Gulf Coast refiners to slash gasoline export prices to $75 per barrel, the lowest since February 2021, while less profitable refiners may be forced to cut production, according to traders and analysts. With Gulf Coast gasoline exports through the Panama Canal down around 40% year over year in November, some foreign buyers are turning to alternative sources to meet demand needs.
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