Today’s energy market action:
- Brent touches US$75 for the first time since late October.
- WTI dips for the second day in a row.
- Gasoline and heating oil little changed, while Henry Hub gains 2%.
- TSX and SPX energy sectors post a second day of losses.
Today’s notable energy news:
- Poland/Germany cut-off Russian pipeline imports on quality concerns.
- KNOC seeks partner for stake in UK-subsidiary Dana Petroleum.
- KKR/BlackRock raise US$3B for stake in ADNOC Oil Pipelines.
- CNOOC inks deal with Russia’s JSC Novatek for stake in Arctic LNG 2.
Today’s notable first quarter earnings results:
- Precision Drilling posts $25M profit, as revenues rise to $434M.
- Vermilion Energy posts $39.5M profit, as output rises to 103 kboe/day.
- Hess posts US$32M profit as output rises to 278 kboe/day.
- Anadarko posts US$15M loss on revenues of US$3.2B.
- Valero Energy posts US$141M profit on revenues of US$24B.
- TechnipFMC posts US$21M profit on revenues of US$2.9B.
- Helmerich & Payne posts US$61M profit on revenues of US$741M.
