Capital Calls: Kohl’s future, Aerojet fight 1 Jul 2022 Concise views on global finance: The U.S. retailer walked away from a deal with Franchise Group, leaving it to weather a potential recession alone. Meanwhile, Aerojet CEO's victory against her executive chairman culminates in a board mess.
Saving energy now is an EU no-brainer 28 Jun 2022 The bloc has hiked LNG imports by 50% to replenish storages and cut its Russian gas dependency. But if Moscow turns off the taps, Germany could sink into recession. All the more reason to kick off energy-saving measures this summer and try to curb gas prices by cutting demand.
EU gas jumps from Russia frying pan to U.S. fire 9 Jun 2022 An explosion in Texas knocked out nearly 20% of U.S. liquefied natural gas exports for three weeks or more. That’s a setback for European nations counting on other countries to ease their dependence on Russian pipelines. For America, the excess supply is a temporary respite.
Africa is imperfect solution to Europe’s gas woes 28 Apr 2022 The continent’s vast reserves and growing liquefied gas supplies can cut some of the bloc’s energy dependence on Russia. Yet lack of infrastructure, domestic needs and rigid contracts limit Africa’s ability to boost exports quickly. Political instability is a further headache.
Oil-field services miss brief chance to make hay 20 Apr 2022 Baker Hughes’ first-quarter earnings disappointed due to cost pressures and a fading Russian business. Growing demand for liquefied natural gas might benefit the company and its peers. But the reasons that business will thrive are the same ones that are reducing the appeal of fossil fuels.
Tiny Lithuania gives Germany a big gas lesson 11 Apr 2022 The Baltic state stopped buying Russian gas on April 1. The shutdown caps a decade of planning to break Moscow’s grip via liquefied shipments. Its greater needs and lack of import terminals worsen Germany’s pickle. But Vilnius’ roadmap can drastically reduce its travel time.
EU energy crisis is a 130 bln euro joint problem 17 Mar 2022 That's how much it could cost to wean the bloc off Russian gas, at a time when energy bills are already soaring. States could tax energy companies or draw unused pandemic loans to offer subsidies. Common grants look like a better option.
Gauging the global backlash against Russia 10 Mar 2022 The shockwaves from President Vladimir Putin’s invasion of Ukraine are reverberating around the world. In our Viewsroom podcast, Breakingviews columnists debate the country’s isolation, the impact on Asia, Europe’s plan to wean itself off Russian gas, and the fallout for banks.
EU charts expensive path towards energy freedom 8 Mar 2022 The European Commission wants to lop over 70% off Russian gas use this year by ramping up LNG purchases, green energy and gas storage. It implies Europeans consuming less energy and paying more than feared for what they use. Pooled EU resources may be needed to cushion the blow.
American LNG burns even brighter 24 Feb 2022 Nearly 40% of European gas comes from Russia, and LNG facilities elsewhere are already largely booked. Still, the Russian invasion of Ukraine will boost booming liquefied gas exports. Replacing even part would mean long-term surety for firms like Cheniere itching to grow.
Spain’s utility goof is thin end of net-zero wedge 17 Sep 2021 Madrid’s $3 bln raid on the coffers of its power sector is a clear climate-change own-goal. The political sensitivity of energy prices means it won’t be Europe’s last. The bigger risk is Brussels watering down the carbon-trading scheme partly responsible for gas prices soaring.
Capital Calls: Betway, U.S. banks, Vaccine feud 26 Apr 2021 Concise views on global finance: Another online betting group goes public by merging with a special-purpose acquisition company; some financial firms are racing to capture nearly-free funding from American depositors; Europe faces a long and costly fight for AstraZeneca vaccines.
Mozambique’s gas loss could be green energy’s gain 6 Apr 2021 Islamic State attacks near future LNG sites have shattered the African state’s dreams of gas production. Plants planned by Total and Exxon Mobil constitute 8% of current world demand. If they are never built, a mid-decade price spike may hasten a global pivot to renewable power.
Coronavirus pushes wobbly LNG market to the edge 10 Feb 2020 China’s leading liquefied natural gas importer claims the coronavirus has made fulfilling its contracts impossible. This might not pass legal muster – but the desperate measure shows just how weak Chinese demand might be. The unbalanced LNG market is in trouble.
Chevron doubles down with $33 bln Anadarko swoop 12 Apr 2019 The $239 bln U.S. oil giant is buying its domestic peer in a cash-and-shares deal. Hefty synergies more than cover the offered premium. As rivals try to become greener, Chevron is sticking to what it knows by buying big in global oil’s key growth area.
Qatar/Exxon love-in makes two types of sense 12 Apr 2018 Deepening its relationship with the Texas-based oil major would tie the Arab state more closely to the U.S. after recent tensions with Saudi Arabia. It also gets Exxon investing in infrastructure. That could open up the global market, to the benefit of both parties.
Even China can’t thaw Alaska’s LNG ice age 9 Nov 2017 Exxon and BP walked away from liquefied natural gas projects in the U.S. state last year because the costly endeavor doesn’t compute at current prices. China’s cheap debt and need for gas alter the equation. But other energy sources still look better than the Last Frontier.
Qatar’s investment strategy due a strategic pivot 22 Aug 2016 The gas-rich sheikhdom's big investments - banks, real estate and car makers - have not all worked out. Qatar should instead buy stakes in the end-users of its gas. With commodity prices low, defensive holdings in sectors you know make more sense than bets in ones you don't.
Gas faces a lost decade as customers dry up 23 Mar 2016 Australia’s Woodside has scrapped a costly $30 billion liquid natural gas project after struggling to find customers. A global oversupply and weakening market in Asia meant the project was no longer bankable. It could take a decade before giant LNG projects again make sense.
Petrobras’ post-election pop looks premature 6 Oct 2014 The $95 bln Brazilian petro-giant’s stock leapt after pro-business candidate Aecio Neves put in a strong showing against President Dilma Rousseff. But even if Neves wins in a runoff, Petrobras will still be saddled by the massive debt and bad investments of the Rousseff era.