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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

Armstrong, Alaska, Oil, Energy, Conventional

Armstrong, Alaska, Oil, Energy, Conventional

Bill Armstrong Proves Alaska Oil Finds Aren’t Over

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☕️What Else is Brewing Tuesday Morning
Trump considers privatizing the US Postal Service. The ...
Trump considers privatizing the US Postal Service. The Washington Post reported that the president-elect has been asking his close associates for their opinions on ending government subsidies for the agency. In his first term, Trump tussled with the USPS and tried to get it to hand personnel decisions and rate-setting powers to the Treasury Dept. (which it did not). Now, the post office could be a prime target for the incoming administration’s DOGE cost-cutting effort. Advocates fear that without the postal service’s “universal service” obligation, which means it must provide delivery to people regardless of the profitability of doing so, rural and remote communities will be impacted and that small businesses will suffer without the ability to send parcels at USPS rates, which are often cheaper than other carriers.

Federal workers who won’t return to the office will be fired, President-elect Trump said during a news conference at Mar-a-Lago yesterday.

Canada’s finance minister quit abruptly after disagreeing with Prime Minister Justin Trudeau over how to plan for Trump’s tariffs.

Instagram now allows users to schedule DMs.

A Malcolm in the Middle reboot is headed to Disney+.

Temu was the Apple App Store’s most downloaded free app of 2024 in the US.

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Oil sags on soft Chinese spending, investor pause before US Fed rate move
(Reuters) - Oil futures slipped from the highest levels in several weeks...
(Reuters) - Oil futures slipped from the highest levels in several weeks on Monday due to weakness in consumer spending in China, the world's largest oil importer, and investors paused buying ahead of the U.S. Federal Reserve's interest rate decision.

Brent crude futures settled at $73.91 a barrel, down 58 cents, or 0.8% lower, after settling on Friday at their highest since Nov. 22.

U.S. West Texas Intermediate crude settled at $70.71 a barrel, also shedding 58 cents, and also down 0.8% the session after it registered its highest close since Nov. 7.

Last week, oil benefited from the expectation that supply would tighten with additional sanctions on crude producers Russia and Iran, while possible lower interest rates in the U.S. and Europe would spur demand.

Chinese retail sales were slower than expected, keeping pressure on Beijing to ramp up stimulus for a fragile economy facing U.S. trade tariffs under a second Trump administration.

"It's just a very bearish scenario where there's not a lot hope of demand growth for crude oil," said Bob Yawger, director of energy futures at Mizuho in New York.
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German Government Collapses at a Perilous Time for Europe
The German government collapsed on Monday...
The German government collapsed on Monday as Chancellor Olaf Scholz lost a confidence vote in Parliament, deepening a crisis of leadership across Europe at a time of mounting economic and security challenges.

The war in Ukraine has escalated, with Russia issuing increasingly dire threats against Kyiv and its supporters. President-elect Donald J. Trump is set to take office in the United States, raising new questions over Europeans’ trade relations and military defense. The government of France — Germany’s partner in leading Europe — fell earlier this month.

And now, Europe’s largest economy will be in the hands of a caretaker government ahead of elections early next year.

On Monday, German lawmakers voted to dissolve the existing government by a vote of 394 to 207, with 116 abstaining.
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U.S. stocks end mostly higher, with Nasdaq notching record closing high
The U.S. stocks ended mostly higher on Monday, with tech...
The U.S. stocks ended mostly higher on Monday, with tech stocks leading the gains, as investors await the Federal Reserve's policy meeting that concludes on Wednesday.

Wednesday marked the first time since the inception of the Nasdaq Composite in 1971 that the index set a new record closing high while the Dow Jones Industrial Average fell for the eighth straight trading day.

The Dow Jones Industrial Average finished down 0.2%, according to preliminary closing data from FactSet.

The S&P 500 ended up 0.4%.

The Nasdaq Composite rose 1.2% to a record high. It is the index's 38th record close this year.

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Phillips 66 Sells Stake in Gulf Coast Express for $865MM
Phillips 66 plans to sell its 25% stake in the Gulf Coast Express (GCX) natural gas pipeline to an ArcLight...
Phillips 66 plans to sell its 25% stake in the Gulf Coast Express (GCX) natural gas pipeline to an ArcLight Capital Partners affiliate for $865 million, with the sale expected to close in January 2025. The 500-mile pipeline system, which has a 2 Bcf/d capacity connecting the Permian Basin to the Agua Dulce hub in South Texas, will then be owned by ArcLight and Kinder Morgan. The sale aligns with Phillips 66's strategy to focus on downstream assets. CEO Mark Lashier noted that the transaction represents an estimated EBITDA multiple of 10.6x for 2025 and will support the company's priorities of shareholder returns and debt reduction.
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