Italy's Intesa Sanpaolo Adds to List of Banks Shunning Papua LNG Project
Italy's largest banking group, Intesa Sanpaolo, is the latest in a list of banks unwilling to finance a $10 billion LNG project in Papua New Guinea being developed by France's TotalEnergies, Australia's Santos and the U.S.' Exxon Mobil.
Elliott Demands Phillips 66 Sell or Spin Off Midstream Biz for $40B+
Activist investor Elliott Capital Management disclosed Feb. 11 it has built a $2.5 billion position in Phillips 66 and issued a series of initiatives, including the sale or spinning off of the company’s midstream assets.
Report: US Tariffs Could Lead to Higher Onshore Wind Costs
Trump’s move to impose tariffs on allies and political adversaries alike comes in an effort to protect U.S. national security interest and leverage America’s economic position.
BP Pledges Strategy Reset as Annual Profit Falls by a Third
BP CEO Murray Auchincloss pledged on Feb. 11 to fundamentally reset the company's strategy as it reported a 35% fall in annual profits, missing analysts' expectations.
Activist Elliott Builds Stake in Oil Major BP, Source Says
U.S.-based Elliott is seeking to boost shareholder value by urging BP to consider transformative measures, Bloomberg News reported Feb. 8.
The Aggregators: Avant’s Winning Formula to Deliver Returns
Avant Natural Resources buys small, sells big and is loving every minute of it.
Executive Compensations Rising in Sync with Shareholder Payoffs
Compensation for oil and gas executives, up an average 8% to 10%, is increasingly tied to stock metrics, rewarding performance instead of growth, according to an Alvarez & Marsal report.
Pearl Energy Investments Closes Fund IV with $999.9MM
Pearl Energy Investments’ Fund IV met its hard cap within four months of launching and closed on Jan. 31.
What's Affecting Oil Prices This Week? (Feb. 3, 2025)
The Trump administration announced a 10% tariff on Canadian crude exports, but Stratas Advisors does not think the tariffs will have any material impact on Canadian oil production or exports to the U.S.
Buying Time: Continuation Funds Easing Private Equity Exits
An emerging option to extend portfolio company deadlines is gaining momentum, eclipsing go-public strategies or M&A.