ICS Calls for Nigeria to Release Crew of Heroic Idun

The International Chamber of Shipping (ICS) is the latest organization to call for an immediate release from detention of the crew of the oil tanker Heroic Idun who are now being held in Nigeria and scheduled to go on trial in January. The All India Seafarers Union has been calling attention to the case while the vessel’s owners and operators including BP have all asserted that the tanker was operating legally. The vessel’s Flag State, the Marshal Islands, has also filed legal appeals for the vessel and its crew.
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FTSE nears 7,500, but fails to pass muster

Shares in London’s FTSE index came within touching distance of 7,500 points briefly on Friday but could not muster enough to pass the line, despite oil and tobacco companies doing their best to help out.By the end of the day, the FTSE 100 had gained just 0.3%, a 20-point rise which left it at 7,486.67.The index briefly touched a day high of 7,497 as cigarette makers Imperial Brands and British American Tobacco rubbed shoulders with BP and Shell at the top of the pile.“The week looks set to go out with a whimper rather than a bang, with the risk...
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The EIA's Short-Term Energy Outlook

The EIA’s Short-Term Energy Outlook gives the USA data as C+C as well as total liquids, OPEC as crude only, but the rest of the world is Total Liquids only. The EIA expects OPEC crude to drop to almost 28 million bp/d by December but then rise to over 29 million bp/d by June 2023. I believe this is a bit overly optimistic.
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BP wins contract to market Guyana's oil production

BP (NYSE:BP) will market Guyana's share of crude oil produced over the next year from two massive offshore production platforms, Reuters reported Friday. The company agreed to market the state's share produced from the Liza Destiny and Liza Unity platforms at no charge per barrel, replacing a Saudi Aramco trading unit that had held the contract, according to report, which cited Guyana's Ministry of Natural Resources.

ICS tells Nigeria to free Heroic Idun crew

The 26 crew members of a tanker seized by Nigeria are being held without justification and should be freed immediately, says the International Chamber of Shipping (ICS). The crew of mainly Indian and Sri Lankan seafarers on the 300,000-dwt Heroic Idun (built 2020) have been held under guard since 12 August by Equatorial Guinea and Nigeria over alleged oil theft and filing a false piracy report.

Loonie Weakens as Crude Closes Third Week in the Red; Rising Bond Yields Boost USD -- The Canadian dollar weakened against its US counterpart today as an uptick in treasury yields supported the greenback. Falling crude prices and expectations that the Bank of Canada is nearing its terminal rate served as headwinds for the loonie The BoC is expected to reach its terminal rate before the Federal Reserve, and hold a lower rate than the Fed will maintain.

Greece's National Bank issues 200 million sterling notes

ATHENS (Reuters) - National Bank (NBG), Greece's second-largest lender by market value, on Friday issued 200 million pounds ($241.6 million) of notes which will mature in 4-1/2 years. It is the first sterling-denominated offer from a Greece-based issuer since 2009, with 70% of the senior preferred notes taken up by...

Teesside Will Become Hydrogen SuperPlace to Lead UK Decarbonisation

Teesside could be the source of a quarter of the clean hydrogen produced in the UK by 2030 and the nation’s leading hydrogen transport hub as it sets out to become one of the world’s first decarbonised industrial clusters. Already home to a raft of planned hydrogen projects,...

China's Shenzhen Energy signs long-term LNG contract with BP

SINGAPORE (Reuters) - China's Shenzhen Energy Group has signed a long-term agreement with oil major BP (LON:BP) to buy liquefied natural gas (LNG), aiming to lock in supplies with gas-fired power generation poised to surge in the world's second-largest economy. The agreement is Shenzhen Energy's first long-term international LNG contract...

Australian Dollar Outlook: A Sinking US Dollar Floats All Boats

The Australian Dollar found firmer footing on US Dollar debility. The Fed look likely to raise by less than 75 bp while the RBNZ are adopting it. The RBNZ might know something that the RBA doesn’t. Will it sink AUD/NZD?. The Australian Dollar surged toward a 2-month high at...

BP (NYSE:BP) Lifted to “Buy” at Citigroup

Several other equities research analysts have also weighed in on BP. JPMorgan Chase & Co. increased their target price on shares of BP from GBX 520 ($6.15) to GBX 530 ($6.27) in a report on Thursday, October 13th. UBS Group increased their target price on shares of BP from GBX 510 ($6.03) to GBX 535 ($6.33) in a report on Wednesday, November 2nd. TheStreet upgraded shares of BP from a c rating to a b- rating in a report on Wednesday, November 16th. HSBC upgraded shares of BP from a hold rating to a buy rating in a report on Monday, October 24th. Finally, Berenberg Bank raised their price objective on shares of BP from GBX 500 ($5.91) to GBX 560 ($6.62) in a report on Friday, November 4th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $246.15.

Favorite Fall Finds Remixed (full outfit is on sale)

Jeans: Madewell 24P. Under $40 with code TGIF. Also see on me here. Coat: A+F blanket coat xxs petite, 30% off + code AFJEAN for extra 15% off. Runs big; see my review. Sweater: A+F crew neck xxs c/o. Also see on me here. Boots: Ann Taylor sz 5. 50%...