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Shell's legal fight against Venture Global focuses on communication with engineer, court transcript shows
Reuters· 2026-01-27 19:14
Core Viewpoint - Shell is challenging its arbitration defeat against liquefied natural gas producer Venture Global, focusing on potential communications between Venture Global and independent engineer Lummus Consultants [1] Group 1 - The arbitration case involves Shell's claims against Venture Global regarding contractual obligations and performance [1] - The outcome of this challenge could have significant implications for Shell's operations and financial standing in the liquefied natural gas sector [1] - The involvement of Lummus Consultants as an independent engineer raises questions about the integrity of the arbitration process and the communications that may have occurred [1]
Exclusive: Chevron seeks better terms from Iraq before taking over Lukoil oilfield, sources say
Reuters· 2026-01-27 18:58
Core Viewpoint - Chevron is urging Iraq to enhance returns on the West Qurna 2 oil field as a prerequisite for acquiring the project from Lukoil [1] Group 1 - Chevron is a major U.S. oil company involved in negotiations regarding the West Qurna 2 oil field [1] - The acquisition of the project from Russia's Lukoil is contingent upon improved financial returns from the oil field [1]
In the Market: Wall Street's banking on next Fed chair to stand up to Trump
Reuters· 2026-01-27 18:57
U.S. President Donald Trump bemoaned last week his issue with naming the next Federal Reserve chair: The problem, he said, is they change once they have the job. Wall Street is counting on it. ...
Exclusive: U.S. to issue general license soon lifting some sanctions on Venezuelan oil industry, sources say
Reuters· 2026-01-27 18:10
U.S. officials are working to issue a general license soon that would lift some sanctions on Venezuela's energy sector, three sources close to the preparation said on Tuesday, a shift from a previous ... ...
Venezuela's oil reform met with flurry of proposed changes
Reuters· 2026-01-27 17:34
A commission of Venezuela's National Assembly has received more than 80 proposals from politicians, lawyers and energy associations seeking changes to a reform of the country's main oil law, sources c... ...
Return of Venezuelan crude could cut US fuel oil imports
Reuters· 2026-01-27 17:31
U.S. demand for imported fuel oil is set to fall this year as refiners snap up new flows of heavy Venezuelan crude, yielding more domestically produced fuel oil that can be processed into higher-value... ...
US banks may lose $500 billion to stablecoins by 2028, Standard Chartered warns
Reuters· 2026-01-27 17:21
Core Insights - Standard Chartered estimates that U.S. dollar-backed stablecoins could withdraw approximately $500 billion in deposits from U.S. banks by the end of 2028 [1] Group 1 - The analysis indicates a significant potential shift in banking deposits towards stablecoins, highlighting the growing influence of cryptocurrency in the financial sector [1] - This trend may reflect broader changes in consumer behavior and preferences for digital assets over traditional banking systems [1] - The forecast suggests that the adoption of stablecoins could accelerate, driven by factors such as increased regulatory clarity and technological advancements [1]
EU-sanctioned oil tanker escorted to Morocco by Spanish rescue ship, merchant marine says
Reuters· 2026-01-27 17:18
Core Viewpoint - An oil tanker under EU sanctions for transporting Russian oil is being escorted to Tanger Med in Morocco by a Spanish rescue ship [1] Group 1 - The oil tanker is currently under EU sanctions, indicating regulatory actions against entities involved in the transportation of Russian oil [1] - The involvement of a Spanish rescue ship highlights the role of national maritime authorities in enforcing sanctions and ensuring compliance [1] - The destination of the tanker, Tanger Med in Morocco, may suggest strategic implications for oil trade routes and regional maritime activities [1]
Citigroup names new leaders with corporate banking focus, memo shows
Reuters· 2026-01-27 16:57
Citigroup on Tuesday announced a series of leadership changes across its corporate and investment banking divisions as CEO Jane Fraser steps up efforts to sharpen the bank's competitiveness against Wa... ...
US Gulf Coast oil, LNG exports hit zero on Sunday due to freeze, Vortexa says
Reuters· 2026-01-27 16:08
Exports of crude oil and liquefied natural gas from U.S. Gulf Coast ports tumbled to zero on Sunday, after a massive winter storm swept across the country, ship tracking service Vortexa said. ...