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☆ Morgan Stanley sees 'hot summer' ahead for energy sector, gives its favorite picks
▼ + stars: | 2024-04-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

A robust oil outlook on stronger-than-expected demand this year should provide a "hot summer" for energy stocks, according to Morgan Stanley. The investment bank has upgraded the energy sector to "attractive" as crude oil demand forecasts have improved on better-than-expected growth in the major economies. Morgan Stanley's top picks to play the oil rally are BP , TotalEnergies and Repsol . Strong demand combined with geopolitical risk should support Brent prices of $94 a barrel by the end of the summer, according to Rats and his colleagues. BP YTD mountain BP shares year to date BP stands out with a compelling distribution yield of nearly 11%, according to Morgan Stanley analysts.

Persons: Morgan Stanley, Morgan Stanley's, Martijn, Brent, Morgan Organizations: BP Locations: Ukraine

☆ Oil prices dip on weak demand, strong dollar
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: +3 min

File: A Repsol Oil Operations oil drilling rig pounds into the desert searching through thousands of feet for and oil reserve in El-Sharara, Libya. Oil prices edged lower on Wednesday, weighed down by concerns over tepid demand and a stronger dollar even though escalating geopolitical tensions limited the losses. Gasoline inventories, however, increased by 7.2 million barrels, stoking concerns over fuel demand in the world's top oil consumer. A stronger U.S. dollar also weighed on oil prices as demand from buyers in other currencies ebbs as they have to pay more for dollar-denominated oil. Elsewhere, U.S.'s third-largest oil-producing state of North Dakota brought some oil output back online after weather-related disruption, the state's pipeline authority said.

Persons: Vikas Dwivedi Organizations: Operations, Brent, . West Texas, American Petroleum Institute, The Energy Information Administration, U.S . Department of Energy, Federal Reserve, Macquarie, U.S, Houthi, Sharara, Jan Locations: El, Sharara, Libya, Russia, Ukraine, Yemen, Britain, U.S, Iran, Red, Iraq, Iraqi, North Dakota

☆ Oil prices fall as investors monitor supply threats, Libya production restart
▼ + stars: | 2024-01-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

A Repsol Oil Operations oil drilling rig pounds into the desert searching through thousands of feet for and oil reserve in El-Sharara, Libya. Oil prices fell on Tuesday as investors monitored the war in Ukraine, the conflict in the Middle East and the restart of production at a major oilfield in Libya. The West Texas Intermediate contract for March fell $1.27, or 1.61%, to trade at $73.56 a barrel. Oil prices rallied about 2% on Monday after a suspected Ukrainian drone strike against a major Russian fuel terminal on the Baltic Sea highlighted the geopolitical threats to crude supplies. The potential threats to crude supplies have been tempered by Libya restarting production at the Sharara oilfield, which was shut down for about two weeks due to protests.

Persons: Brent, John Evans Organizations: Operations, The West Texas Intermediate, PVM Oil Associates, Houthi Locations: El, Sharara, Libya, Ukraine, The, Ukrainian, Baltic, U.S, Britain, Yemen, Red

☆ Oil prices steady as investors weigh Libya oilfield restart, Mideast tensions
▼ + stars: | 2024-01-22 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

A Repsol Oil Operations oil drilling rig pounds into the desert searching through thousands of feet for and oil reserve in El-Sharara, Libya. Oil prices were little changed on Monday as the market weighed the reopening of a key oilfield in Libya against ongoing tensions in the Middle East. Libya's National Oil Corporation resumed full production at the Sharara oilfield on Sunday after protests shut down output for two weeks. "The sentiment is sourer this morning because the force majeure on Libya's Sharara oil field has been lifted," Tamas Varga with PVM Oil Associates wrote in a note. OPEC, on the other hand, has presented a stronger outlook with oil demand forecast to grow by 2.2 million barrels per day, while production outside OPEC will grow by 1.3 million barrels per day.

Persons: Brent, Tamas Varga Organizations: Operations, The West Texas Intermediate, National Oil Corporation, PVM Oil Associates, U.S, U.S . Central Command, Houthi, International Energy Agency Locations: El, Sharara, Libya, The, Iran, Iraq, U.S, Syria, Gaza

☆ EV charging growth plans slowed by EU's power grid problems
▼ + stars: | 2023-12-04 | by ( Julia Payne | ) www.reuters.com time to read: +6 min

These are due to be implemented in 18 months and include addressing EV charging station power shortages. The ease of building an EV charging hub varies considerably country by country. To do so, it will ban sales of CO2-emitting vehicles from 2035 and wants to develop a network of EV charging stations. "Sometimes we have to send physical mail," said Peter Badik, co-founder of EV charging firm Greenway Network, which has set up 1,300 EV chargers in Slovakia, Croatia and Poland. "There is a clear need for more standardisation (of requirements for charging hubs)," BP's van Dobschuetz added.

Persons: Repsol, It's Kafka, Lucie Mattera, Mattera, Miguel Stilwell de Andrade, Peter Badik, Stefan van Dobschuetz, Dobschuetz, ChargeUp Europe's Mattera, Julia Payne, Alexander Smith Organizations: European Union, European Commission, EV, Reuters, Industry, Greenway Network, BP Pulse, Thomson Locations: BRUSSELS, Germany, Spain, Europe, EU, Slovakia, Croatia, Poland

An oil pump jack is seen in an oil field near Lake Maracaibo, in Cabimas, Venezuela October 14, 2022. REUTERS/Issac Urrutia/File Photo Acquire Licensing RightsHOUSTON, Dec 1 (Reuters) - Venezuela's oil exports remained almost unchanged in November at 651,000 barrels per day (bpd) even as an easing of U.S. sanctions is now allowing sales to trading houses, according to shipping and tanker tracking data. Washington in October temporarily lifted oil sanctions on the country as a way to encourage a presidential election in 2024, which prompted spot sales of Venezuelan crude and fuel oil to traders mostly bound for China. The stagnant production has driven PDVSA to offer trading houses and intermediaries a large portion of its oil stocks for exports. Besides seeking spot cash oil sales, PDVSA also has ramped up fuel imports since October.

Persons: Issac Urrutia, PDVSA, Marianna Parraga, Mircely Guanipa, Jonathan Oatis Organizations: REUTERS, Rights, China ., Reuters, Analysts, Chevron, Spain's, Thomson Locations: Lake Maracaibo, Cabimas, Venezuela, Washington, China, China . State, India, Venezuelan, United States, U.S, Houston, Maracay

☆ Argentina oil company YPF spikes 40% as investors cheer president-elect Milei's promises to revamp the economy
▼ + stars: | 2023-11-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Shares of state-oil firm YPF soared 40% on Monday after Javier Milei's presidential victory. Milei has promised to revamp the Argentine economy, and also said he would seek to privatize YPF. Milei won the Argentine presidential election Sunday against Economy Minister Sergio Massa. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementArgentine state energy company YPF saw its New York-listed shares spike more than 40% on Monday, following Javier Milei's presidential election victory on Sunday.

Persons: Javier Milei's, Milei, Sergio Massa, —, Spain's Repsol, YPF Organizations: Argentine, Economy, Service, Reuters, Grupo Financiero Galicia, Banco Locations: Argentine, YPF, York, Spain's, Argentina, New York

☆ Shares in Argentina's YPF soar as Milei hints at privatization
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsCompanies Ypf Sa FollowRepsol SA FollowBUENOS AIRES, Nov 20 (Reuters) - New York-traded shares in Argentine state-run oil company YPF soared more than 40% on Monday after President-elect Javier Milei said he would seek to privatize the firm. The South American country nationalized 51% of the oil company more than a decade ago from Spain's Repsol (REP.MC). YPF is Argentina's largest oil firm and oversees development of Vaca Muerta, the world's second-largest shale gas reserve and fourth-largest shale oil reserve. Shares of YPF jumped more than 40% early in the session, before paring some gains to trade up 35.2%. Global X analyst Trevor Yates said the YPF gains were related to the increasing likelihood of it being privatized and implementing an international price parity policy.

Persons: Alberto Fernandez, Cristina Fernandez de Kirchner, Agustin Marcarian, Javier Milei, Sergio Massa, YPF, Milei, Spain's, Vaca Muerta, Trevor Yates, Yates, Eliana Raszewski, Bansari Mayu, Grant McCool Organizations: Argentine, REUTERS, Global, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, New York, Argentine, American

☆ BP, Edison, Shell ask US, EU to intervene in Venture Global LNG dispute
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +3 min

Venture Global LNG has said the Louisiana plant is not fully operational due to faulty power equipment that is being repaired. Their appeals sought to get The Hague and Washington to pressure Venture Global LNG on the contracts. In its letter, Shell accused Venture Global LNG of diverting resources into building a second LNG export plant rather than completing repairs to its first plant. Officials from the EU and U.S. indicated they view the dispute as "a contractual matter between commercial parties," a Venture Global LNG spokesperson said on Saturday. Venture Global LNG is operating the Calcasieu Pass plant at capacity, it has told U.S. regulators.

Persons: Chris Helgren, Carol Howe, Michael Sabel, Robert Pender, Gary McWilliams, Diane Craft Organizations: BP, REUTERS, Rights, Edison, Shell, Venture Global LNG, U.S, EU, Force, Energy Security, Venture Global, Global, Reuters, Venture Global Co, Energy Regulatory, Thomson Locations: Vancouver , British Columbia, Canada, U.S, EU, Arlington , Virginia, Louisiana, Hague, Washington, Calcasieu, Europe

☆ Motorsport icon Marc Marquez shares the biggest lesson and toughest decision of his career
▼ + stars: | 2023-11-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

BURIRAM, THAILAND - OCTOBER 28: No.93 Marc Marquez of Spain and Repsol Honda Team during qualifying at Chang International Circuit on October 28, 2023 in Buriram, Thailand. (Photo by Supakit Wisetanuphong/MB Media/Getty Images) Supakit Wisetanuphong/mb Media | Getty Images Sport | Getty ImagesMotoGP legend Marc Márquez says leaving Repsol Honda — where he has won six premier class world titles over the last decade — was the biggest and most difficult decision of his career. Márquez will leave his current team at the end of this season of Grand Prix motorcycle racing (MotoGP). Since then, a series of serious injuries and a drop-off in performance of the Honda bike relative to rival manufacturers, particularly the currently dominant Ducati, have prevented him from tilting at a record-equalling seventh premier class world championship. At Gresini Ducati, a satellite team of the flagship Ducati Lenovo factory team, Márquez will be riding what is currently the most dominant bike on the grid.

Persons: Marc Marquez, Spain, Supakit Wisetanuphong, Supakit, Marc Márquez, Repsol, —, Márquez, Joan Mir, Gresini, PHILLIP, Mirco Lazzari Organizations: Repsol Honda Team, Chang, Circuit, Getty, Repsol Honda, Prix, Honda, Ducati, Gresini Ducati, CNBC, videolink, Malaysian, Phillip, Ducati Lenovo Locations: BURIRAM, THAILAND, Buriram, Thailand, Malaysia, PHILLIP ISLAND, AUSTRALIA, San Remo, Phillip Island, Australia

☆ Worried about a slowdown? One asset management firm shares a way to hedge — and names 10 global stocks
▼ + stars: | 2023-10-27 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

They define that form of value as "combined yield, a blend of dividend yield, free cashflow yield and net buyback yield." "Combined yield has been the best performing of the long-short European factors that we track, year-to-date," the analysts said. Stock screen AllianceBernstein performed a screen of "High Combined Yield Stocks" in Europe for the final quarter of the year. Equinor is listed on both the Oslo Stock Exchange and Nasdaq, while BP is traded on the London Stock Exchange and Frankfurt Stock Exchange. BP is also traded on the New York Stock Exchange in the form of American depositary shares.

Persons: it's, AllianceBernstein, France's, Norway's, — CNBC's Michael Bloom Organizations: Tesco, BP, Oslo Stock Exchange, Nasdaq, London Stock Exchange, Frankfurt Stock Exchange, New York Stock Exchange, Systems, Deutsche Post Locations: Europe, Belgian, British, Swiss

Cutouts depicting images of oil operations are seen outside a building of Venezuela's state oil company PDVSA in Caracas, Venezuela January 28, 2019. U.S. sanctions that were in place on Venezuela since 2019 largely blocked state-run oil company PDVSA from exporting to its chosen markets. That changed last week, but Washington's six-month relaxation of the measures is too limited to spur new crude production. PDVSA also is in talks with Mercuria Energy and Sahara Energy on spot sales, the sources said. The Italian company and Spain's Repsol (REP.MC) have been in negotiations with PDVSA for months to expand gas output in Venezuela.

Persons: Carlos Garcia Rawlins, Trafigura, PDVSA, Pedro Tellechea, Tipco, Spain's, Eni, Maurel, prepay, Marianna Parraga, Laura Sanicola Organizations: REUTERS, Rights, Global, PDVSA, Bermuda, Mercuria Energy, Sahara Energy, U.S ., Reliance Industries, Valero Energy, PBF Energy, Eni, Valero, Reliance, U.S . Treasury Department, Traders, Thomson Locations: Caracas, Venezuela, U.S, Venezuela's, Sahara, PDVSA's, Houston, Washington

A state oil company PDVSA's logo is seen at a gas station in Caracas, Venezuela May 17, 2019. The U.S. on Wednesday lifted most restrictions on Venezuela for six months for producing, selling and exporting oil to its chosen markets. But it is not expected to significantly boost Venezuela's deteriorated oil production or immediately lead to stronger exports. Venezuela can now receive direct payments for goods or services under the license issued by OFAC, which oversees American sanctions. PDVSA and Venezuela's oil ministry did not immediately reply to requests for comment.

Persons: Ivan Alvarado, PDVSA, Washington, Pedro Tellechea, Francisco Monaldi, Rice, Nicolas Maduro's, Monaldi, Maduro, Spain's, Joe Biden's, Marianna Parraga, Will Dunham, Marguerita Choy Organizations: REUTERS, Rights, U.S, Treasury's, Foreign Assets, Oil, OFAC, Washington, Chevron, Baker Institute, Venezuelan, Citgo Petroleum, Valero Energy, PBF Energy, India's Reliance Industries, Nayara Energy, Eni, Thomson Locations: Caracas, Venezuela, Venezuelan, U.S, Asia, PDVSA, United States, American, CHINA, EUROPE, China, India, PetroChina, Houston, Maduro, Washington

A state oil company PDVSA's logo is seen at a gas station in Caracas, Venezuela May 17, 2019. The United States on Wednesday lifted for six months most restrictions on Venezuela for producing, selling and exporting oil to its chosen markets. Not all sanctions on PDVSA were lifted by the United States. Before sanctions, India and the United States were other top destinations. PDVSA and Venezuela's oil ministry did not immediately reply to requests for comment.

Persons: Ivan Alvarado, PDVSA, Francisco Monaldi, Rice, Nicolas Maduro's, Monaldi, Maduro, Spain's, Joe Biden's, Marianna Parraga, Will Dunham Organizations: REUTERS, Rights, U.S, Treasury's, Foreign Assets Control, Washington, Chevron, Baker Institute, Venezuelan, Citgo Petroleum, Valero Energy, PBF Energy, India's Reliance Industries, Nayara Energy, Italy's Eni, United, Thomson Locations: Caracas, Venezuela, Venezuelan, United States, U.S, Asia, PDVSA, American, CHINA, EUROPE, China, India, PetroChina, Maduro, Washington

Rolling back Trump-era sanctions, U.S. officials issued general licenses for Venezuela's oil, gas and mining sectors in response to a deal between Venezuelan President Nicolas Maduro and the county's opposition on the 2024 presidential election. SLOW RECOVERYThe sanctions relief authorizes the production, sale and export of Venezuela's crude and gas, while keeping a ban on business with Russia. Since the U.S. imposed secondary oil sanctions on Venezuela in 2020, PDVSA had been unable to fulfill its supply contracts to clients in regions from Europe to Asia. An individual authorization to Chevron Corp (CVX.N) allowed the return of Venezuela's crude to the United States this year. Area chart shows data from U.S. EIA showing Venezuela crude oil production.

Persons: Leonardo Fernandez Viloria, Francisco Monaldi, Rice University's, Nicolas Maduro, Joe Biden, Monaldi, PDVSA, Baker Hughes, Maduro, Marianna Parraga, Julia Symmes Cobb, David Gregorio, William Mallard Organizations: REUTERS, Rights, South, Rice University's Baker Institute ., Trump, Venezuelan, OPEC, U.S, Chevron Corp, U.S Chevron, Eni, EIA, Thomson Locations: Jusepin, Venezuela, South American, U.S, American, Russia, Iran, Europe, Asia, United States, Trinidad and Tobago, China, Caribbean

☆ As oil prices rise, these global stocks are set to outperform: Bank of America
▼ + stars: | 2023-10-17 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

The ongoing conflict between Israel and Hamas has seen oil prices jump as investors consider the risk of wider geopolitical issues across the Middle East. These rising prices will benefit a number of stocks, according to Paulina Strzelinska, quant strategist at Bank of America. Outperformers when natural gas prices rise In a separate screen, Bank of America revealed its list of companies that tend to outperform when natural gas prices rise. Equinor is listed on both the Oslo Stock Exchange and Nasdaq, while Rio Tinto is listed on the London Stock Exchange and Australian Securities Exchange. Meanwhile Anglo American has a dual listing on the London Stock Exchange and Johannesburg Stock Exchange.

Persons: Paulina Strzelinska, Brent, Duncan Wanbald, — CNBC's Michael Bloom, Sam Meredith Organizations: Hamas, Bank of America, Bank, Boliden, Royce, Aegon, Galp Energia, Wolters Kluwer, London Stock Exchange, Oslo Stock Exchange, Nasdaq, Rio Tinto, Australian Securities Exchange, Johannesburg Stock Exchange, Reuters Locations: Israel, Europe, Antofagasta, Spanish, Portuguese, Dutch, Rio Tinto, Rio, American, Johannesburg

☆ Tourmaline cements top position in Canada's Deep Basin with $1 billion Bonavista deal
▼ + stars: | 2023-10-16 | by ( Sourasis Bose | ) www.reuters.com time to read: +1 min

Oct 16 (Reuters) - Tourmaline Oil (TOU.TO) on Monday agreed to buy rival Bonavista Energy for C$1.45 billion ($1.06 billion) in cash and stock, strengthening its position in Western Canada's Deep Basin. The acquisition is expected to help Tourmaline, already the largest Deep Basin producer, exit 2023 with production of more than 600,000 barrels of oil equivalent per day. The offer consists of C$725 million in Tourmaline common shares and C$725 million in cash. Bonavista, a major oil and gas producer, delisted from the Toronto Stock Exchange in 2020 as part of a recapitalization plan. In September, Canadian natural gas firm Peyto Exploration & Development (PEY.TO) agreed to buy Spanish energy company Repsol's (REP.MC) Deep Basin assets for $468 million.

Persons: Tourmaline, Michael Harvey, Sourasis Bose, Shounak Dasgupta, Sriraj Organizations: Bonavista Energy, RBC Capital, Toronto Stock Exchange, Exploration, Development, Thomson Locations: Bonavista, Toronto, Bengaluru

☆ Marquez to join Gresini Racing team after Honda exit
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

But I'm also sure that the whole Team Gresini will help me a lot," he added. Marquez, who joined the Repsol Honda team in 2013, won the last of his six championships in 2019, finishing 151 points clear of his nearest rival. He will join his brother Alex, who has impressed since he made the switch from LCR Honda to Gresini ahead of the 2023 season. "This is a historical moment for the Gresini Family," Gresini boss Nadia Padovani Gresini said. "The fact that Marc Marquez chose to race with us in the upcoming season is absolutely fantastic and I'm extremely happy to be able to make it official."

Persons: Honda, Marc Marquez, Issei Kato, Marquez, it's, I'm, Gresini, Alex, Nadia Padovani Gresini, Rohith Nair, Muralikumar Anantharaman, Peter Rutherford Organizations: Prix, MotoGP, Gresini Racing, Ducati, Honda, Repsol Honda, Thomson Locations: Motegi, Japan, Bengaluru

Cutouts depicting images of oil operations are seen outside a building of Venezuela's state oil company PDVSA in Caracas, Venezuela January 28, 2019. Separate talks between Maduro's envoys and the Venezuelan opposition are expected to follow in Mexico in the coming weeks, according to sources. Washington has been trying to encourage negotiations between Maduro and the political opposition over elections in Venezuela and other demands. The proposal included reframing oil sanctions on Venezuela by amending existing U.S. executive orders or issuing new ones so buyers in Europe and other regions could resume imports of Venezuelan oil in a structured, organized way. Chevron (CVX.N) has been allowed to expand operations in Venezuela and export its oil to the U.S. since November.

Persons: Carlos Garcia Rawlins, Nicolas Maduro, Maurel, PDVSA, Vivian Sequera, Mayela, Andrew Mills, Marianna Parraga, Matt Spetalnick, Benjamin Mallet, Marguerita Choy Organizations: REUTERS, Rights, U.S, U.S . State Department, White, Doha, Chevron, Eni, Mayela Armas, Thomson Locations: Caracas, Venezuela, Rights CARACAS, DOHA, HOUSTON, Mexico, Washington, Doha, Venezuelan, Maduro, U.S, Qatar, Iran, American, Europe, Houston, Diego Ore, Mexico City, Paris

☆ Marc Márquez: MotoGP maestro officially set to leave Honda
▼ + stars: | 2023-10-05 | by ( Jonathan Hawkins | ) edition.cnn.com time to read: +3 min

CNN —Six-time MotoGP champion Marc Márquez will end his 11-year association with Honda, the factory team announced Wednesday, finally ending weeks of speculation around the rider’s future. “Honda Racing Corporation and Marc Márquez have mutually elected to terminate their four-year contract prematurely at the end of the 2023 MotoGP World Championship season,” HRC announced in a statement. In an emotional social media post following Honda’s announcement, Márquez shared what he said was a message to one of his team. “I don’t know where to begin. I don’t know if I’m doing right or wrong, I don’t know what will happen in the future, I don’t know if all this will turn out well, but what I do know is everything we have achieved together,” the post read.

Persons: Marc Márquez, “, Álex, Márquez, I’m, Santi Hernández, Clive Mason, Álex Márquez, ” Organizations: CNN, Honda, “ Honda Racing Corporation, ” HRC, Ducati, MotoGP, Great, Triple Locations: Great Britain

☆ India welcomes MotoGP: Monsoon rains, Bollywood superstars and a mystery monkey
▼ + stars: | 2023-09-27 | by ( Jonathan Hawkins | ) edition.cnn.com time to read: +13 min

First-placed Bezzecchi (C), second-placed Prima Pramac Racing's Spanish rider Jorge Martin (L) and third-placed Monster Energy Yamaha's French rider Fabio Quartararo pose on the podium after the Indian MotoGP Grand Prix. Last year Poncharal says he bumped into Dorna CEO Carmelo Ezpeleta, who told him about the potential interest in an Indian MotoGP Grand Prix. As at the G20, the MotoGP race branding also featured the name ‘Bharat,’ rather than India. Bezzecchi is third overall in the championship, 44 points behind Bagnaia after the Indian Grand Prix. “It has been an incredible experience and success for MotoGP to be in India for the first time,” said Ezpeleta.

Persons: India CNN —, Jorge Martin, Fabio Quartararo, Money Sharma, Pramac, Hervé Poncharal, Poncharal, Carmelo Ezpeleta, Prakash Singh, we’ve, Ikjot Singh Bhasin, ” Paolo Ciabatti, “, ” Ciabatti, it’s, ” Poncharal, Herve Poncharal, Jonathan Hawkins, Tissot, Bharat, Marco Bezzecchi, ”, Marc Marquez, Martin, ” Martin, I’m, ” KTM's Jack Miller, Jack Miller, ” Miller, there’s, ” Sebastian Vettel, Andrew Hone, “ I’m, –, Repsol, Suresh Raina, SHARMA, Pecco Bagnaia, Marquez –, Ranveer Singh, Yuvraj Singh, Shikhar Dhawan, Yogi Adityanath, Bezzecchi, Bagnaia, appreciatively, Yamaha’s Frenchman, ” Ikjot Singh Bhasin, don’t Organizations: India CNN, India CNN — Briefly, Buddh, Circuit, Formula One, Pramac, Energy, Getty, Racing, Prix, CNN Sport, Ducati Lenovo, Buddh Circuit, MotoGP, CNN, Ducati, YouTube, Honda, Sprint, Financial Times, Manufacturers, KTM, Husqvarna, Indian, One, India MotoGP Bharat Locations: Noida, Uttar Pradesh, India, New Delhi, East, Asia, South America, Kazakhstan, Delhi, Greater Noida, AFP, Yamaha’s, “

☆ A $16 billion lawsuit payout is going to send this one stock soaring, analysts say
▼ + stars: | 2023-09-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The payout is expected to be a significant win for Burford Capital , which funded the lawsuit brought by YPF's minority shareholders, Petersen Energia Inversora and Eton Park Capital Management. Investment bank Jefferies estimates Burford Capital is entitled to around $6.3 billion from the verdict, approximately twice the company's market capitalization. Jefferies analysts led by Julian Roberts said shares of Burford have "further to go" after the stock jumped by more than 6% on Friday alone. The $16 billion payout includes around $8.4 billion in damages plus about $7.6 billion in 8% pre-judgment interest since the April 2012 seizure date determined by the judge. "We will continue to defend energy sovereignty and our state company YPF against vulture funds," Cerruti said.

Persons: Jefferies, Julian Roberts, YPF, Cristina Fernandez de Kirchner, Loretta Preska, Gabriela Cerruti, Cerruti, Numis, Burford, Jonathan Molot, Petersen, Molot Organizations: Burford Capital, Petersen Energia Inversora, Eton Park Capital Management, Investment, Jefferies, U.S, London, Cristina Fernandez de Kirchner . U.S, District, International Monetary Fund, Argentina, Eton Park Locations: U.S, Argentina, Burford, Cristina Fernandez de Kirchner ., Repsol

The payout includes the approximately $8.4 billion of damages Burford sought plus about $7.6 billion of 8% prejudgment interest running from May 3, 2012, about 2-1/2 weeks after the seizure. Argentina, which is in dire financial straits including a scarcity of foreign exchange reserves, pledged an immediate appeal. Shareholders' $8.43 billion damages estimate was based on Argentina's seizure of the YPF shares on April 16, 2012, which they said transferred "control." But the judge found it "telling" that Argentine officials treated April 16 as the seizure date, which stripped Repsol of its power to run YPF and distribute capital. The judge also called 8% interest "appropriate and equitable," and "well within the range" imposed by Argentine courts.

Persons: Loretta Preska, Burford, Preska, Axel Kicillof, Gabriela Cerruti, Cerruti, Nate Raymond, Jonathan Stempel, Adam Jourdan, Rodrigo Campos, Mark Porter, Will Dunham, Richard Chang Organizations: YPF, U.S, District, Burford Capital, Petersen Energia Inversora, Eton Park Capital, Jefferies, Petersen, Eton Park, Argentina, International Monetary Fund, IMF, Argentine, Thomson Locations: Argentina, U.S, Manhattan, Burford, London, New York, Buenos Aires, Qatar, China, Boston

☆ Toronto stocks extend losses for third day as BlackBerry tanks
▼ + stars: | 2023-09-07 | by ( Siddarth S | ) www.reuters.com time to read: +2 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. ET (1419 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 90.43 points, or 0.45%, at 20,136.53. Both the U.S.- and Canadian-listed shares of BlackBerry (BB.TO), tumbled over 15% after the technology company forecast a 21.4% decline in second-quarter revenue, due to weakness in its cybersecurity segment. Technology stocks (.SPTTTK) slumped 1.8%, leading sectoral declines and hitting their lowest levels in more than a month. Peyto Exploration & Development (PEY.TO) shares fell 2.4%, after the natural gas firm agreed to buy Spanish energy company Repsol's (REP.MC) assets in Canada for $468 million.

Persons: Chris Helgren, Peyto, Morningstar, Siddarth, Tasim Zahid, Shilpi Majumdar Organizations: Toronto Stock Exchange, REUTERS, Spain's, Toronto Stock, BlackBerry, Peyto, Development, U.S, Thomson Locations: Toronto , Ontario, Canada, Toronto, U.S, Bengaluru

[1/2] The logo of Italian energy company Eni is seen at the booth of Eni during the Nigeria International Petroleum Summit in Abuja, Nigeria February 10, 2020. Under the revised terms, Eni and Repsol can supply the state company with fuels, potentially helping Venezuela ease an intermittent scarcity that has led to long lines at gasoline stations in recent years. Eni and Repsol were not immediately available to respond to a Reuters request for comment. Crude received by Eni and Repsol under their swap deal has mostly been sent to Repsol's refineries in Spain. The field is run by the Petrosucre joint venture between Eni and PDVSA.

Persons: Afolabi, Repsol, PDVSA, Joe Biden's, Perla, Marianna Parraga, Francesca Landini, Pietro Lombardi, Mircely, Matt Spetalnick, David Holmes Organizations: Eni, Nigeria International Petroleum Summit, REUTERS, Companies, U.S . State Department, Kuwait Petroleum, Repsol, U.S . Treasury, PDVSA, Perla, Washington, Thomson Locations: Nigeria, Abuja, HOUSTON, Venezuela, Europe, Venezuelan, PDVSA's, Italy's Milazzo, Kuwait, U.S, Spain, Chevron, American, Venezuela's Gulf, Colombia, Milan, Madrid, Maracay, Washington

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