Member Since 23 November 2015
Last Seen: 16 Nov '19

MaxMarioni's Insights

On the topic of Gas

Topics: Energy, Gas
Other Insights on Related Shares: CNA.L
Related Shares: Centrica Share Price

As fronts of freezing cold weather have swept across Europe and the UK, this has caused disruption all over the continent. On the black sea, movements of vessels in the Bulgarian port of Varna were curbed because of blizzards and gales, while three Ukrainian harbours were blocked by ice. Vessels entering and exiting Costanta, one of Romania's – and Europe's – major grain transporting hubs, have also been delayed, with potential effects on the European market for wheat and other cereals exported through that port. Further inland, navigation on the Danube between Germany and Hungary has also been disrupted. In England, flights were temporarily suspended between Heathrow and Gatwick. (Read more)

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Topics: Gas, Oil
Other Insights on Related Shares: BP..L
Related Shares: Bp Share Price

BP closes the year with news of one of the biggest deals in the energy sector this year. The British oil companyhas signed a deal which has has made it a shareholder in Abu Dhabi's onshore oil concession, in exchange for which the emirate's oil company gainsownership of a 2% stake in BP. BP obtains, in this way a 10% stake in ADCO, the state-owned Abu Dhabi Company for Onshore Petroleum Operations Limited,the outfit which operates these oil fields. The oil fieldthought to be part of one of the largest oil field concessions in the emirate, and one of the last few big oil concessions available in the Middle East. The total deal is estimated to be worth a total of £1.8 billion ($ 2.2 billion). (Read more)

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Glencore is the leader of a consortium that, together with Qatar's global sovereign fund, Qia, bought a 19.5% stake in Rosneft, the Russian oil company. Rosneft is one of the leading Russian blue chip companies, and the flotation is part of a process to partially privatise the oil company, in a bid to reduce the debt level of the Russian state, hit by the twin storms of falling oil prices amid economic sanctions imposed following events in Crimea and Eastern Ukraine. News of the deal, worth 10.5 million Euros, was welcomed by investors, and sent the Russian stock price shooting up by over 5% on the Moscow stock exchange. (Read more)

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