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Bondholders, bidders ready objections to Gold Reserve group's Citgo bid
HOUSTON, July 7 (Reuters) - Lawyers representing holders of a defaulted Venezuelan bond and some bidders that participated in a court-organized auction of shares in the parent of refiner Citgo Petroleum are getting ready to object to the recommendation of a $7.4 billion offer by a group led by a uni...Reuters
Mon, Jul 7
Power Up: OPEC+ opens the taps
July 7 - By Liz HamptonU.S. energy markets editor Hello Power Up readers! Oil prices are starting the week higher, as the market appeared to shrug off plans by OPEC+ to boost its output more than expected in the coming months. Brent crude futures were up about 90 cents to $69.20 a barrel on...Reuters
Mon, Jul 7
Chevron preps quick closing of Hess deal and awaits result of Exxon dispute
Chevron prepares severance option for Hess workers pending deal closeCompanies still await outcome of arbitration case with ExxonChevron, Hess IT teams work to prepare integrationBy Sheila Dang HOUSTON, July 7 (Reuters) - Chevron CVX.N is laying the groundwork to swiftly close its planned acquisi...Reuters
Mon, Jul 7
CORRECTED-Newmont to fire at least 10% of staff at Suriname's Merian mine
By Ank, KuipersPARAMARIBO, July 4 (Reuters) - Newmont, the world's largest listed gold miner, announced on Friday that it would lay off 10% to 15% of its workforce at its Merian mine in Suriname, citing production declines."Since 2021, gold production at Merian has declined 48% while operati...Reuters
Mon, Jul 7
Syria drought triggers $7.9 million payout to World Food Programme
By Henry GaleJuly 7 - (The Insurer) - The World Food Programme has received a $7.9 million payout from a parametric drought insurance policy for Syria developed with Howden, Hiscox and Swiss Re, WFP's lead advisor for climate and disaster risk financing and insurance said on Friday.WFP's Mat...Reuters
Mon, Jul 7
Schumer wants probe of National Weather Service response in Texas
Schumer requests probe into NWS staffing and flood responseNWS defends its forecasting amid criticism from Texas officialsTrump denies federal cuts affected NWS disaster responseDOGE initiative led to early retirements at NWSNWS San Antonio office faced staffing vacancies during floodBy Courtney Ro...Reuters
Mon, Jul 7
Dow to close three European chemical plants, cut 800 jobs
By Pooja Menon and Katha Kalia July 7 (Reuters) - Dow DOW.N will shut down three upstream plants in Europe and cut around 800 jobs in response to structural challenges in the region, the chemicals company said on Monday, sending its shares down 2.5% in morning trade.The company said the shutdow...Reuters
Mon, Jul 7
Exxon Mobil finds natural gas reservoir offshore Cyprus, government says
NICOSIA, July 7 (Reuters) - A consortium led by ExxonMobil XOM.N has found a reservoir of natural gas at a prospect off the island's coast, a Cypriot government spokesperson said on Monday.Drilling resulted in preliminary indications of 350 metres of a gas-bearing reservoir at a depth of 1.9 kil...Reuters
Mon, Jul 7
BRICS demand wealthy nations fund global climate transition
Leaders at Rio summit stress climate finance obligations Joint statement notes important role for fossil fuelsLula blasts climate denialism 'eroding past achievements'By Manuela Andreoni and Lisandra Paraguassu RIO DE JANEIRO, July 7 (Reuters) - Leaders of the BRICS group of developing na...Reuters
Mon, Jul 7
Iranian president says supreme leader believes US investors can come to Iran
CAIRO, July 7 (Reuters) - Iranian President Masoud Pezeshkian said on Monday that the country's supreme leader believed U.S. investors can come to Iran."In a conversation we had with the Supreme Leader, he believed that American investors can come to Iran and there are no obstacles to their ...Reuters
Mon, Jul 7
Colombia's Ecopetrol buys wind power project from Enel for $50 million
BOGOTA, July 7 (Reuters) - Colombian state oil firm Ecopetrol ECO.CN said on Monday it has purchased a wind power project in the northern province of La Guajira from Enel ENEI.MI for $50 million. The Windpeshi project will have a capacity of 205 megawatts (MW), which will be added to Ecopetrol Group...Reuters
Mon, Jul 7
US allows offloading of some liquefied petroleum gas shipments, Treasury says
WASHINGTON, July 7 (Reuters) - The Trump administration moved to allow the offloading of liquefied petroleum gas involving Petroleos de Venezuela SA PDVSA.UL until September 5, provided that the gas was loaded on a vessel on or before July 7, according to a notice posted to the U.S. Treasury Departm...Reuters
Mon, Jul 7
US natgas prices slide 2% to one-week low on rising output, lower demand forecasts
Total NYMEX gas futures volume down to lowest since April 2024Storage build seen bigger than usual for 11 of 12 weeksCash gas trades below front-month futures since AprilBy Scott DiSavino July 7 (Reuters) - U.S. natural gas futures slid about 2% to a one-week low on Monday on an increase in outpu...Reuters
Mon, Jul 7
Bunge charters first Argentine soy meal cargo to China
BUENOS AIRES, July 7 (Reuters) - Grains merchant Bunge has chartered 30,000 metric tons of Argentine soybean meal cargo destined for China, data seen by Reuters on Monday showed, marking the first soymeal cargo from Argentina since Beijing approved Argentine imports in 2019.Reuters reported last mon...Reuters
Mon, Jul 7
Colombia's Ecopetrol buys wind power project from Enel
BOGOTA, July 7 (Reuters) - Colombian state oil firm Ecopetrol ECO.CN said on Monday it has purchased a wind power project in the northern province of La Guajira from Enel ENEI.MI. The Windpeshi project will have capacity to produce 205 megawatts, "which will be immediately incorporated into the ...Reuters
Mon, Jul 7
European insurers back ISSB proposal to scrap insurance-associated emissions reporting
By Rebecca DelaneyJuly 7 - (The Insurer) - Industry body Insurance Europe has welcomed the International Sustainability Standards Board (ISSB)'s proposal to remove insurance-associated emissions (IAEs) from Scope 3 reporting requirements in the absence of developed methodologies.The ISSB propose...Reuters
Mon, Jul 7
CBOT Trends-Wheat down 8-13 cents, corn down 10-13, soy down 10-22
CHICAGO, July 7 (Reuters) - The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Monday. WHEAT - Down 8 to 13 cents per bushelCBOT wheat slumped as ample supplies from ongoing Northern Hemisphere harv...Reuters
Mon, Jul 7
Indian jewellery maker Titan's quarterly revenue rises on higher gold prices
July 7 (Reuters) - Titan Company's TITN.NS domestic sales rose 19% in the first quarter led by higher gold prices, outpacing the 9.3% growth from a year ago, the Indian jewellery and watch maker said on Monday.Its mainstay domestic jewellery business, which contributes close to 90% to its overal...Reuters
Mon, Jul 7
RPT-COLUMN-London Metal Exchange reaps the rewards of tariff turmoil: Andy Home
By Andy Home LONDON, July 7 (Reuters) - The London Metal Exchange (LME) has recorded its highest quarterly volumes since 2014 thanks to the market turmoil that followed U.S. President Donald Trump's "Liberation Day" tariffs. The LME Index basket of base metals .LMEX plunged 11% after ...Reuters
Mon, Jul 7
