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☆ Why Boeing's $21 billion share sale is an early Christmas present for Wall Street
▼ + stars: | 2024-10-29 | by ( Reed Alexander | ) www.businessinsider.com time to read: +5 min

AdvertisementWall Street bankers tasked with helping companies raise money through sales of stock just got an early Christmas present. The sale ended up raising nearly $21 billion, marking one of the largest deals for US equity-capital-markets bankers in history. Thanks to the Boeing capital raise, he now predicts ECM bonus increases of 30%, he said. 'A rising tide lifts all boats,' comp expert saysThe ultimate size of Boeing's capital raise puts it in league with some of the largest raises ever, according to global equity capital raise data provided by LSEG. But, based on Johnson's forecast, it seems those involved in the Boeing capital raise may find themselves flying highest on bonus day.

Persons: Goldman Sachs, —, bookrunners Goldman Sachs, Morgan Stanley, Alan Johnson, Johnson, Semafor, Thoma Bravo, It's, they've Organizations: Boeing, PJT Partners, RBC Capital Markets, Service, Monday, Bank of America, Citigroup, JPMorgan, Wall, Johnson Associates, LSEG, Petrobras, Lloyds, Nasdaq Locations: Brazilian, British

Although he increased his price target to $150 from $130, the new price target is just around $2 higher from Tuesday's close price. — Fred Imbert 6:46 a.m.: Citi raises Roblox price target Citi is bullish on Roblox's long-term prospects in spite of some near-term rockiness. — Hakyung Kim 5:42 a.m.: Piper Sandler raises price target on Tesla Piper Sandler thinks Tesla may sell more vehicles than the firm previously expected. With this in mind, he raised his price target on Tesla shares to $310 from $300, signaling about 22% upside from Wednesday's close. TSLA YTD mountain TSLA year to date — Hakyung Kim 5:42 a.m.: Barclays upgrades Hewlett Packard Enterprise Rising demand for artificial intelligence servers will boost Hewlett Packard Enterprise shares, according to Barclays.

Persons: Piper Sandler, TD Cowen downgrades Expedia TD Cowen, Kevin Kopelman, Kopelman, EXPE, — Hakyung Kim, Morgan Stanley, Ford Morgan Stanley's Adam Jonas, Jonas, Ford, Fred Imbert, Jason Bazinet, we're, Bazinet, Roblox, Alex Straton, Straton, JPMorgan, Rodolfo Angele, Angele, Tesla Piper Sandler, Tesla, Alexander Potter, Potter, Hakyung Kim, Tim Long, HPE, Long Organizations: CNBC, Barclays, Hewlett Packard Enterprise, U.S, Ford Motor, GM, Citi, Nike, JPMorgan, Petrobras, Tesla, Hewlett, Enterprise, Juniper Networks Locations: China, U.S, Tuesday's, XLK

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Disney, Ford, General Motors, Duolingo, Roblox, Alphabet & more
▼ + stars: | 2024-09-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Wells Fargo upgrades Baker Hughes to overweight from equal weight Wells says it likes the oil service company's business model. Morgan Stanley upgrades AutoNation to overweight from equal weight Morgan Stanley says AutoNation is well positioned in a bumpy macroeconomic environment. Morgan Stanley reiterates Apple as overweight Morgan Stanley says it's remaining cautious after checks of iPhone 16 demand for Apple. Morgan Stanley downgrades Ford to equal weight from overweight and General Motors to underweight from equal weight Morgan Stanley downgraded several automakers on Wednesday and said it's concerned about market share losses. Morgan Stanley reiterates Nike as equal weight Morgan Stanley raised its price target on Nike to $82 per share from $79 ahead of earnings on October 1.

Persons: Wolfe, Sallie Mae, it's bullish, Wells, Baker Hughes, Piper Sandler, Tesla, Piper, Morgan Stanley, AutoNation, Mike Manley, Duolingo, MARA, CORZ, Piper Sandler downgrades Tyson, it's, Oppenheimer, GOOG's, Baird, Locker Baird, Apple, TD Cowen downgrades Expedia, Cowen, Goldman Sachs, Goldman, Morgan Stanley downgrades Ford, Roblox Organizations: APO, Bank of America, Macquarie, Tyson Foods, Barclays, Hewlett Packard Enterprise, DOJ, Google, Foot, Apple, ISI downgrades, Pacific, Evercore, UNP, Disney, JPMorgan, Oil & Gas, Petrobras, Motors, GM, Citi, Investors, Nike Locations: CLSK, Foot Locker, Mexico, China, Fortnite

☆ Pro Talks: After the Fed cuts rates, one fund manager reveals where to invest right now
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +1 min

Investors should stay away from overvalued U.S. stocks in 2025, fund manager Sean Peche has cautioned. The value investor at Ranmore Fund Management told CNBC's Silvia Amaro on CNBC Pro Talks about where he sees undervalued stocks and opportunities, especially now the U.S. Federal Reserve has cut interest rates. Pesh highlighted his fund's holdings, including Carrefour , Petrobras , Alibaba , and Baidu as value plays. Peche, who set up Ranmore Fund Management in 2008, also shared some of the worst trades of the year, as well as his most successful yet. Since inception, the fund has gained 10.9% on an annualized basis, slightly more than the 10.6% posted by its MSCI benchmark.

Persons: Sean Peche, CNBC's Silvia Amaro, Pesh Organizations: Ranmore Fund Management, CNBC Pro, U.S . Federal, Carrefour, Petrobras, Alibaba, Baidu, Ranmore, Equity, ABN Amro, Ranmore Global Equity Fund Locations: overvalued U.S, Hong Kong, United States, Carrefour, China

☆ CNBC Pro Talks: After the Fed cuts rates, one fund manager will reveal where to invest right now
▼ + stars: | 2024-09-24 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +3 min

After the U.S. Federal Reserve cut interest rates by a bumper 50 basis points , investors have been left wondering whether growth or value stocks are the best bet. On CNBC's upcoming Pro Talks , Silvia Amaro will ask value investor Sean Peche where he sees opportunities in the current market. Peche is portfolio manager at the U.K.-based Ranmore Fund Management and manages its $329 million Ranmore Global Equity Fund . As of Aug. 31, the Ranmore Global Equity Fund has returned 21.6% over the last year, underperforming its benchmark MSCI World Index's 24.4%. CNBC Pro subscribers can watch Pro Talks live on Wednesday, Sept. 25, at 7 a.m.

Persons: Silvia Amaro, Sean Peche, He'll, Warren Buffett, Eli Lilly, ager, CNBC's Silvia Amaro Organizations: U.S . Federal Reserve, Ranmore Fund Management, Global Equity Fund, Investors, Ranmore, Equity, Petrobras, Baidu, ABN Amro, Ranmore Global Equity Fund, Decillion Fund Management, Orbis Investment Advisory, CNBC, Beyond Locations: Carrefour, China, U.S, London

☆ Panama court acquits 28 implicated in Panama Papers and Operation Car Wash scandals
▼ + stars: | 2024-06-29 | by ( Catherine Nicholls | Cnne Staff | ) edition.cnn.com time to read: +1 min

CNN —A Panamanian court has acquitted 28 people charged with money laundering in cases linked to the Panama Papers and Operation Car Wash scandals. The Panama Papers were a group of over 11 million leaked documents that were published by the International Consortium of Investigative Journalists (ICIJ) in 2016. The papers referenced 12 current or former world leaders, as well as 128 other politicians and public officials. Operation Car Wash was a money laundering investigation into Petrobras, Brazil’s state-run oil company. Those acquitted from the Operation Car Wash case were discharged because the income of money from illicit sources could not be demonstrated, the statement said.

Persons: CNN —, Judge Baloísa Marquínez, Vladimir Putin, ”, Gerard Ryle, “, ” Ryle Organizations: CNN, Panamanian, International Consortium of Investigative Journalists, United States, Petrobras Locations: Panama, United, Brazil’s

"The stock price has lagged but we don't see any other catalysts medium term, hence we are moving to the sidelines." Micron shares were down 5% in the premarket. The analyst reiterated a buy rating on Micron stock with a $175 per share price target, implying nearly 23% upside from Wednesday's $142.36 close. He raised his price target to $158 per share price from $138, calling for 11% upside. Arya maintained a buy rating on Micron stock with a $170 per share price target, or about 19% upside moving forward.

Persons: Vivek Juneja, — Brian Evans, TD Cowen, Cowen, John Blackledge, Keefe, David Konrad, Brian Evans, Christopher Danely, Goldman Sachs, Toshiya Hari, Hari, Vivek Arya, Arya, Caio Ribeiro, Ribeiro, Fred Imbert Organizations: CNBC, Micron Technology, Bank of America, Petrobras, JPMorgan downgrades U.S, Bancorp, JPMorgan, U.S . Bancorp, New York Mellon, Bank of New, Bank of New York Mellon, BK, Mellon, Micron, MU, Citi Locations: Brazil, U.S, Bank of New York, CY2025

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Broadcom, Micron, Goldman Sachs, Carvana, Arista & more
▼ + stars: | 2024-06-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Goldman Sachs reiterates Micron as buy Goldman said investors should buy the dip in the stock following earnings on Wednesday. Jefferies reiterates Nvidia, Marvell and Broadcom as buy Jefferies said it's sticking with its buy rating on all three companies. " Morgan Stanley initiates Viking Therapeutics as overweight Morgan Stanley said the biotech company has "best-in-class potential." Morgan Stanley adds Goldman Sachs to the financials finest list Morgan Stanley added the investment banking giant to its top financials ideas list. Morgan Stanley reiterates Coca-Cola as overweight Morgan Stanley said it's sticking with its overweight rating on the beverage giant.

Persons: Goldman Sachs, Goldman, Bernstein, Apple, Mizuho, KBW, it's, Jefferies, AVGO, KeyBanc, Texas Consolidator, TD Cowen, Grindr, GRND, Morgan Stanley, JPM, Oppenheimer, Kyndryl, CVNA, Truist Organizations: Micron, Apple, Bank of America, Petrobras, of America, Mizuho, Holdings, Grab Holdings, New York Mellon, Deutsche Bank, Emerson Electric Deutsche Bank, Nvidia, Marvell, Broadcom, Energy, Crescent Energy Co, Citi, Arista Networks, Arista, Viking Therapeutics, Macquarie, TPG, Markets, JPMorgan, Bancorp, UBS, Disney, Cable Locations: MU, Brazil, Texas, North America, CA

☆ There's a bull case emerging in Brazilian stocks for long-term investors
▼ + stars: | 2024-06-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +4 min

Recent struggles in Brazilian stocks could be an opportunity for investors to buy into Latin America's largest economy at a discount. There are also other factors that can boost Brazilian stocks going forward, including an attractive valuation and investor positioning. Low valuations and strong consumer Brazilian stocks are very cheap, especially compared to the other emerging markets. Another catalyst for Brazilian stocks may be stronger consumer spending. How to invest Investors in the U.S. can gain exposure to Brazilian stocks via the EWZ ETF and its small-cap counterpart, the EWZS.

Persons: Leonard Linnet, Unibanco, Ed Yardeni, Morgan Stanley, Alexsandro Broedel, Broedel, That's, Itaú's Linnet Organizations: Federal, Brazil —, CNBC, Yardeni Research, Petrobras, Vale Locations: Brazil, U.S, New York, Latin America

☆ Opinion: Trump is now in a club no one ever wants to be part of — convicted former leaders
▼ + stars: | 2024-06-02 | by ( Opinion Chris Good | ) edition.cnn.com time to read: +12 min

The criminal trial and conviction of (mostly former) national leaders has happened in stable, mature democracies, just as it has in former dictatorships. The track record of convicted leaders shows just how risky it is to try to predict what will happen. In 2017, South Korea impeached and later criminally convicted now-former President Park Geun-hye in a bizarre corruption scandal involving the influence of a friend and confidante. After a scandal emerged involving the state oil company Petrobras, Lula was convicted in 2017 of corruption and money laundering. “Political leaders can choose how they will speak about these institutions.”

Persons: Chris Good, Donald Trump, —, Trump, Stormy Daniels, Cristina Fernández de Kirchner, Sebastian Kurz, ” Kurz, Park, “, Nicole Bibbins Sedaca, Nicolas Sarkozy, Bertrand Guay, Bibbins Sedaca, Jacques Chirac, ” Bibbins Sedaca, Sarkozy, Moammar Gaddhafi illicitly, Silvio Berlusconi, Yara Nardi, Berlusconi “, ”, Berlusconi, Matteo Salvini, Giorgia Meloni, Luiz Inacio Lula da Silva, Nelson Almeida, Luiz Inácio Lula da Silva, Lula, Jair Bolsonaro, Oliver Stuenkel, Fundação Getulio Vargas, ” Stuenkel, Politicization, Stuenkel, didn’t, Lula “, Mark Peterson, Ariel Edwards, Levy, Lula —, Chirac, Trump’s Organizations: CNN, ABC News, Economist Intelligence Unit, Freedom House, Getty, Freedom, Reuters, Forza Italia, Five Star, AFP, Brazil, Petrobras, Bolsonaro, School of International Relations, Fundação, NEW, Manhattan Criminal, Trump, Twitter, Facebook Locations: The, Manhattan, Argentina, Austrian, South Korea, Washington, DC, France, Italy, Brazil, Paris, AFP, Moroccan, Milan, Trump, America, São Paulo

☆ Brazil’s Clashing Goals: Protect the Amazon and Pump Lots More Oil
▼ + stars: | 2024-03-13 | by ( Max Bearak | ) www.nytimes.com time to read: +1 min

Through his office window, the head of Brazil’s state-run oil company looked out at the cluttered landscape of Rio de Janeiro. Looking back at him, across the city’s run-down high-rises, was the looming statue of Christ the Redeemer. This, even as his country positions itself as a leader in the fight against climate change which, of course, is primarily driven by the burning of oil and other fossil fuels. Petrobras already pumps about as much crude oil per year as ExxonMobil, according to Rystad Energy, a market research firm. It’s an enormous predicament for Brazil’s president, Luiz Inácio Lula da Silva, better known simply as Lula, who has fashioned himself as the pre-eminent world leader on climate issues.

Persons: Christ, Hawks, Luiz Inácio Lula da Silva, Lula Organizations: Redeemer, Petrobras, ExxonMobil, Rystad Energy, Saudi Locations: Rio de Janeiro, China, Russia, Kuwait

☆ Shareholder payouts hit a record $1.7 trillion last year as bank profits surged
▼ + stars: | 2024-03-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2024. LONDON — Global dividend payouts to shareholders hit a record $1.66 trillion in 2023, according to a new report by British asset manager Janus Henderson. The Global Dividend Index report, published Wednesday, said payouts rose by 5% year-on-year on an underlying basis, with the fourth quarter showing a 7.2% rise from the previous three months. The banking sector contributed almost half of the world's total dividend growth, delivering record payouts as high interest rates boosted lenders' margins, the report found. "In addition, lingering post-pandemic catch-up effects meant payouts were fully restored, most notably at HSBC ," Janus Henderson's report added.

Persons: Janus Henderson, Wells, Morgan Stanley, Janus Organizations: New York Stock Exchange, LONDON, JPMorgan Chase, Federal, HSBC, BHP, Petrobras, Rio Tinto, Intel Locations: New York City, U.S, British, Wells Fargo, China, Rio

☆ Here are Monday's biggest analyst calls: Nvidia, Tesla, Netflix, Adobe, Amazon, Eli Lilly, Procter & Gamble & more
▼ + stars: | 2024-03-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said the stock is a top idea after coming out of the company's recent TMT conference. " Morgan Stanley downgrades Hyatt to equal weight from overweight Morgan Stanley said in its downgrade of the stock that risk/reward is more balanced. Morgan Stanley reiterates Eli Lilly as overweight Morgan Stanley said the next catalyst for Eli Lilly is the results from the company's sleep apnea trial. Morgan Stanley initiates Phinia as overweight Morgan Stanley initiated the auto components and supplier company and says it's a "key beneficiary of the EV reset." Morgan Stanley reiterates Meta as overweight Morgan Stanley said it's standing by shares of Meta.

Persons: Morgan Stanley, Oppenheimer, underperform Jefferies, Jefferies, Tesla, Evercore, Tesla's, Tesla's Austin Gigafactory, Wolfe, XEL, Morgan Stanley downgrades Hyatt, JPMorgan, Stifel, Eli Lilly, Truist, Guggenheim, it's, PDD, Locker, Meta, Goldman Sachs, Goldman Organizations: Netflix, Jefferies, Wyndham, Underperform, Wyndham Hotels, Adobe, & Highland, JPMorgan, Energy, Hyatt, Petrobras, Procter, Gamble, Guggenheim, Nike, ICE, UBS, Apple, Meta, & & / Locations: Tesla's, Texas, bullish, China, Kazakhstan, America

☆ This fund beat the S&P 500 without holding any Magnificent 7 stocks. Here's what they're buying right now
▼ + stars: | 2024-02-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Picking great stocks and avoiding disastrous investments enabled the Ranmore Global Equity Fund to beat the S & P 500 over the past two years, according to its fund manager. The fund, run by portfolio manager Sean Peche, returned 31% in 2023 compared to 24% for the S & P 500 . The Ranmore fund also outperformed its benchmark with 1.8% total returns in 2022 when the S & P 500 and broader indexes nearly fell into a bear market. The fund manager says they take a probability-based approach with many small positions rather than a few big bets. However, according to the fund manager, the market appears to be undervaluing its cash and securities.

Persons: Sean Peche, Peche, Andrew, there's, Where's, Ranmore, it's Organizations: Ranmore Global Equity Fund, Microsoft, Meta, Petrobras, Japan's Nippon TV, GSK, eBay, of, Bank of America, UBS, Carrefour, ABN AMRO, Nippon Locations: Wall, of London, Europe, Ukraine, U.S, Japan, Holland, Netherlands

☆ Here are Thursday’s biggest analyst calls: Nvidia, Rivian, Sunrun, DoorDash and more
▼ + stars: | 2024-02-22 | by ( Hakyung Kim | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Morgan Stanley raises Nvidia price target Morgan Stanley increased its price target on shares to $795 from $750 after the chipmaker's earnings announcement. " UBS reiterates Nvidia as buy, but trims price target UBS reiterated its buy rating on Nvidia but reduced its price target to $800 from $850. Morgan Stanley upgrades DoorDash to overweight from equal weight Morgan Stanley's upgrade comes after the stock fell around 10% since its earnings report on Feb. 15. Morgan Stanley reiterates overweight rating on Rivian Automative Morgan Stanley kept its overweight rating on Rivian , but cited concerns on the company's outlook. Jefferies reiterates Sunrun as buy Jefferies also raised its price target on Sunrun to $31 from $25, implying shares nearly doubling from Wednesday's close.

Persons: Morgan Stanley, Goldman Sachs, Nvidia Goldman, Morgan, Rivian, Automative Morgan Stanley, Jefferies, Sunrun, Bernstein, Wendy's, Wendy, TD Cowen, Cowen, COTY, Cantor Fitzgerald, Root, Cantor, Remitly Organizations: NVIDIA, UBS, Nvidia, Data Center, RBC, Rivian Automotive, EV, Petrobras, ITC, Coty, BMO, Markets Locations: Argentine, China, Brazil, 2024E

☆ 'Big opportunity': One pro names his top energy stocks for the long and short term
▼ + stars: | 2024-02-02 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Energy stocks have had a mixed start to the year as ongoing geopolitical uncertainties and fluctuating oil prices continue to affect the sector. One chief investment officer, however, sees potential in oil, naming one immediate and one longer-term investment opportunity. "It's [a] deepwater oil play, very long life there. "We think that there will be some players that will [be the] last folks standing in that game, and we think Petrobras will be one of those." Longer-term play A longer-term play on Jones' radar is Australian petroleum player Woodside Energy , which trades on the Australian and London Stock Exchanges as well as the Nasdaq.

Persons: Jevons Global's Kingsley Jones, CNBC's, Brazil –, Jones Organizations: Petrobras, New York Stock, Woodside Energy, London Stock Exchanges, Nasdaq, Santos Locations: Brazilian, Brazil, Europe, Woodside

The first option in the draft is listed as "an orderly and just phase-out of fossil fuels". The second option calls for "accelerating efforts towards phasing out unabated fossil fuels". "I don't think we're going to leave Dubai without some clear language and some clear direction on shifting away from fossil fuels," he added. China's fossil fuel emissions rose after it lifted COVID-19 restrictions, while India's rise was a result of power demand growing faster than its renewable energy capacity, leaving fossil fuels to make up the shortfall. "Leaders meeting at COP28 will have to agree rapid cuts in fossil fuel emissions even to keep the 2C target alive," he said.

Persons: Stephane Mahe, Jean Paul Prates, Patrick Pouyanne, Jennifer Morgan, Prince Abdulaziz bin Salman, David Waskow, Exeter, Pierre Friedlingstein, Kate Abnett, William James, Valerie Volcovici, Elizabeth Piper, Katy Daigle Organizations: REUTERS, Petrobras, European, Oxford University, Saudi Arabia's Energy, Bloomberg, World Resources, University of Exeter, Reuters, Thomson Locations: France, Montoir, Bretagne, Saint, Nazaire, DUBAI, COP28, Brazil's, United States, European Union, Saudi Arabia, Russia, Dubai, India, China, Paris

REUTERS/Thaier Al Sudani/File Photo Acquire Licensing RightsDec 3 (Reuters) - Brazil will never join the OPEC+ group of oil-producing nations as a full member and instead only seeks to participate as an observer, Brazilian President Luiz Inacio Lula da Silva said on Sunday. Lula's remarks to reporters at the U.N. COP28 climate summit in Dubai clarified his statements a day earlier that Brazil would "participate" in OPEC+. "Brazil should join OPEC+, it could be an observer," Lula said on Sunday. "Brazil will never be a full member of OPEC, because we don't want to be. Petrobras will continue to do what it needs to do to help Brazil grow, but will expand beyond just oil to all energy, Lula added.

Persons: Luiz Inacio Lula da Silva, Al Sudani, Lula's, Lula, Jake Spring, Will Dunham Organizations: United Nations, Change, United Arab Emirates, REUTERS, OPEC, Petrobras, PETR4, São Paulo, Thomson Locations: Dubai, United Arab, Brazil, OPEC, Africa, Latin America, Berlin, São

☆ Lula says Brazil's participation in OPEC+ is to stop oil producers using fossil fuels
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thaier Al Sudani/File Photo Acquire Licensing RightsSAO PAULO, Dec 2 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Saturday that Brazil's participation in the OPEC+ group of oil-producing countries is to convince nations to transition away from the use of fossil fuels. Brazil indicated on Thursday that it was on the brink of joining OPEC+, a group of 23 oil-producing countries. "We will lead oil-producing countries to accelerate the energy transition. Under the leadership of President Lula we want to use oil revenues to finance clean and renewable energy," he said. But Brazil is not expected to cap oil output as part of OPEC+, three sources told Reuters in a report published on Thursday.

Persons: Luiz Inacio Lula da Silva, Al Sudani, Lula, Alexandre Silveira, Silveira, Ricardo Brito, Steven Grattan, Matthew Lewis Organizations: United Nations, Change, United Arab Emirates, REUTERS, SAO PAULO, OPEC, Petrobras, PETR4, Reuters, Paulo, Thomson Locations: Dubai, United Arab, OPEC, Brazil, Africa, Latin America, South America

Signing on to the pledge were major national oil companies such as Saudi Aramco, Brazil's Petrobras and Sonangol, from Angola, and multi-nationals like Shell, TotalEnergies and BP. The pledge is a “smokescreen to hide the reality that we need to phase out oil, gas and coal,” said a letter signed by more than 300 civil society groups. Still, Mena said that self-reporting didn't go far enough to push oil and gas companies to make changes. Earlier this year, European Union negotiators reached a deal to reduce methane emissions from the energy industry across the 27-member bloc. In his speech, al-Jaber said oil and gas companies needed to do more to research solutions to Scope 3 emissions.

Persons: Sultan al, Jaber, ”, Jean Su, Fred Krupp, Bill Hare, Hare, Marcelo Mena, Mena, John Podesta, Abu Dhabi’s ADNOC Organizations: United Arab Emirates, Associated Press, Abu Dhabi National Oil Co, Saudi Aramco, Brazil's Petrobras, Sonangol, Shell, Center for Biological Diversity, Environmental, Environmental Defense Fund, U.S . Environmental Protection Agency, European Union, Gas, United Arab, Aramco, AP Locations: DUBAI, United Arab, United Nations, Abu Dhabi, Saudi, Angola, COP28, al, fracking, philanthropies, Chile, U.S, United States, United Arab Emirates, Saudi Arabia

☆ Lula Says Brazil's Participation in OPEC+ Is to Stop Oil Producers Using Fossil Fuels
▼ + stars: | 2023-12-02 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +1 min

SAO PAULO (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Saturday that Brazil's participation in the OPEC+ group of oil-producing countries is to convince nations to transition away from the use of fossil fuels. Brazil indicated on Thursday that it was on the brink of joining OPEC+, a group of 23 oil-producing countries. "We will lead oil-producing countries to accelerate the energy transition. Under the leadership of President Lula we want to use oil revenues to finance clean and renewable energy," he said. But Brazil is not expected to cap oil output as part of OPEC+, three sources told Reuters in a report published on Thursday.

Persons: Luiz Inacio Lula da Silva, Lula, Alexandre Silveira, Silveira, Ricardo Brito, Steven Grattan, Matthew Lewis Organizations: SAO PAULO, Reuters, OPEC, Petrobras Locations: OPEC, Brazil, Dubai, Africa, Latin America, South America, Sao Paulo

☆ Brazil to join OPEC+ but won't cap oil output, Petrobras CEO says
▼ + stars: | 2023-12-01 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +2 min

Jean Paul Prates, CEO of Brazil's state-run oil company Petrobras, speaks during a news conference at the Petrobras headquarters in Rio de Janeiro, Brazil March 2, 2023. "We would never be part of an organization that imposes (production) quotas to Brazil, Petrobras is a publicly-traded company and we cannot have quotas." Brazil's energy minister said on Thursday the country was eager to join OPEC+ after a full technical analysis. Brazil is the largest oil producer in South America, at 4.6 million barrels per day of oil and gas, of which 3.7 million bpd are crude. Prates, who in October received OPEC Secretary General Haitham Al Ghais in Brazil, noted OPEC+ was a group that includes countries with no voting rights and to which production caps are not imposed, which would be the case of Brazil.

Persons: Jean Paul Prates, Pilar Olivares, Luiz Inacio Lula da Silva's, Haitham Al, Brazil's, Prates, Rodrigo Viga Gaier, Gabriel Araujo, Steven Grattan Organizations: Petrobras, REUTERS, DE, PETR4, Reuters, OPEC, Thomson Locations: Brazil's, Rio de Janeiro, Brazil, DE JANEIRO, OPEC, American, South America, Haitham Al Ghais

[1/2] An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. Both contracts had their first weekly gain in five weeks as OPEC+ prepares for a meeting that will have output cuts high on the agenda after recent oil price declines on demand concerns and burgeoning supply, particularly from non-OPEC producers. OPEC+ has moved closer to a compromise with African oil producers on 2024 output levels, three OPEC+ sources have told Reuters. "Fundamentals developments have been bearish with rising U.S. oil inventories," ANZ analysts said in a note. Analysts say oil demand growth could weaken to about 4% in the first half of 2024 as the property sector crunch weighs on diesel use.

Persons: John Kilduff, Tony Sycamore, Brent, Craig Erlam, Tina Teng, Paul Carsten, Natalie Grover, Colleen Howe, David Goodman, Louise Heavens, Marguerita Choy Organizations: REUTERS, U.S, Brent, West Texas, Organization of, Petroleum, Reuters, OANDA, ANZ, Petrobras, Thomson Locations: Zhoushan, Zhejiang province, China, Gaza, OPEC, Wednesday's, WTI, Israel, New York, Russia, U.S, London, Beijing

☆ Brent climbs ahead of OPEC+ oil production decision
▼ + stars: | 2023-11-24 | by ( Colleen Howe | ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. Brent crude futures gained 29 cents, or 0.4%, to $81.71 at 0213 GMT, after settling down 0.7% in the previous session. Trading remained subdued because of the Thanksgiving holiday in the U.S.On the demand side, poor refining margins have led to weaker crude demand from refineries in the U.S., analysts said. "Fundamentals developments have been bearish with rising U.S. oil inventories," ANZ analysts said in a note. In China, analysts say oil demand growth could weaken to around 4% in the first half of 2024 from strong post-COVID growth levels in 2023, as the country's property sector crunch weighs on diesel use.

Persons: Tony Sycamore, Brent, Colleen Howe, Sonali Paul Organizations: REUTERS, Rights, Brent, . West Texas, of Petroleum, IG, ANZ, Petrobras, Thomson Locations: Zhoushan, Zhejiang province, China, Rights BEIJING, WTI, U.S, Saudi Arabia, OPEC, Sydney

☆ Oil declines as traders speculate on OPEC agreement on output
▼ + stars: | 2023-11-24 | by ( ) www.cnbc.com time to read: +1 min

Oil rig and pump of H&P Rig 488 in Stanton, Texas, on June 8, 2023. Oil prices fell slightly Friday as traders speculated on whether OPEC+ would come to an agreement on further production cuts. Trading remained subdued because of the Thanksgiving holiday in the U.S.On the demand side, poor refining margins have led to weaker crude demand from refineries in the U.S., analysts said. "Fundamentals developments have been bearish with rising U.S. oil inventories," ANZ analysts said in a note. In China, analysts say oil demand growth could weaken to around 4% in the first half of 2024 from strong post-COVID growth levels in 2023, as the country's property sector crunch weighs on diesel use.

Persons: Tony Sycamore, Brent Organizations: Brent, U.S, West Texas, of Petroleum, IG, ANZ, Petrobras Locations: Stanton , Texas, OPEC, Sydney, U.S, China

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