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Saudi Aramco Exploring Initial Bid for BP's Castrol Unit, Source Says

BP's lubricant business Castrol is expected to be worth $6 billion to $8 billion, according to analyst Ashley Kelty. The business has been put up for sale as part of a strategic review by the company. BP has underperformed peers and faced increasing pressure to change strategy after activist investor Elliott Investment Management built a 5% stake in the company.

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Saudi Aramco Exploring Initial Bid for BP's Castrol Unit, Source Says Δ1.94

Saudi Aramco is in the early stages of considering a potential bid for BP's lubricant business Castrol, according to a person with knowledge of the matter. The Saudi oil giant's interest comes as BP reviews its Castrol business, aiming to generate $20 billion in divestments by 2027. A successful acquisition could help Aramco expand its presence in the global lubricants market.

Aramco Signals Sharply Lower Dividends After 2024 Profit Drop. Δ1.78

Aramco's 2024 profit drops over 12% to $106.2 billion, signaling nearly 30% lower dividends for 2025, as average realised oil prices fell to $80.2 in 2024. The company has long been a cash cow for the Saudi state, but this year's dividend cut may indicate a shift in the kingdom's fiscal strategy. As Aramco continues to invest heavily in its future, the reduced payouts may also signal a more conservative approach to cash management.

Saudi’s Zahid to Reopen Talks With Barloworld’s Shareholders Δ1.76

Zahid Group will initiate fresh negotiations with Barloworld's shareholders after an initial acquisition offer was rejected, aiming to acquire more shares than 50% to implement more efficient processes in the business. The consortium, led by Zahid, expects at least another 32% support from shareholders and is seeking to buy as many shares as possible to maintain its stake in Africa's Caterpillar equipment distributor. The company plans to conclude the standby offer within 30 trading days.

Middle East Oil Market Dynamics Shift with ADNOC's Participation Δ1.76

ADNOC has conducted its first trades using S&P Global Platts' pricing process for Middle East benchmark Dubai crude oil, marking a rare move by a major oil producer to participate in setting prices for crude produced in its own region. The trades were part of the 42 partials traded during the Platts Market on Close process, with ADNOC buying two partials from BP and Trafigura at $70.25 a barrel each. This development underscores the increasing importance of price discovery mechanisms in the Middle East oil market.

Shell Mulls Sale of European, US Chemicals Assets, WSJ Reports Δ1.75

The energy group has hired Morgan Stanley to conduct a strategic review of its chemicals operations, the report said. Shell declined to comment. Morgan Stanley did not immediately respond to a request for comment outside regular business hours. The review is in its early stages and Shell has not yet made any definitive decisions regarding a potential sale, the Journal reported, adding that one of the assets included in the review was Shell's Deer Park facility in Texas. Last year Shell sold its refining and chemicals hub in Singapore, one of the world's largest.

Shell Mulls Sale of European, US Chemicals Assets, WSJ Reports Δ1.75

Shell is considering a potential sale of its chemicals assets in Europe and the United States, as it aims to simplify its operations and focus on its core businesses. The energy group has hired Morgan Stanley to conduct a strategic review of its chemicals operations, which are expected to be significantly impacted by lower seasonal demand. Shell's trading in its chemicals and oil products division is expected to decline quarter-on-quarter due to reduced seasonal demand.

Oil Prices Climb From Multi-Year Low, Tariff Concerns and Rising Supply Weigh Δ1.73

Oil prices rose on Thursday after heavy sell-offs drove the market to a multi-year low, however tariff uncertainties and a rising supply outlook capped gains. Brent futures were trading up 50 cents, or 0.72%, at $69.80 a barrel by 0716 GMT, while U.S. West Texas Intermediate crude (WTI) futures climbed 48 cents, or 0.72%, to $66.79 a barrel.

Mantle Ridge Said to Build $1 Billion-Plus Cognizant Stake Δ1.73

Mantle Ridge, an activist investor, has amassed a significant stake in Cognizant Technology Solutions Corp., worth over $1 billion, according to sources familiar with the matter. This move signals Mantle Ridge's intent to influence Cognizant's strategic direction and potentially push for changes at the company. The investor's involvement raises questions about its potential impact on Cognizant's operations and future growth prospects.

Oil Little Changed as Uncertainty over Ukraine, Global Growth Looms Δ1.73

Oil edged up on Monday as upbeat manufacturing data from China, the world's biggest crude importer, led to renewed optimism for fuel demand, although uncertainty about a Ukraine peace deal and global economic growth from potential U.S. tariffs loomed. Brent crude climbed 19 cents, or 0.3%, to $73.00 a barrel by 0720 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, up 19 cents, or 0.3%. China's manufacturing activity expanded at the fastest pace in three months in February as new orders and higher purchase volumes led to a solid rise in production.

Oil Little Changed as Uncertainty over Ukraine, Global Growth Looms Δ1.73

Oil edged up on Monday as upbeat manufacturing data from China, the world's biggest crude importer, led to renewed optimism for fuel demand, although uncertainty about a Ukraine peace deal and global economic growth from potential U.S. tariffs loomed. Brent crude climbed 19 cents, or 0.3%, to $73.00 a barrel by 0720 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, up 19 cents, or 0.3%. China's manufacturing activity expanded at the fastest pace in three months in February as new orders and higher purchase volumes led to a solid rise in production.

Petrobras Invests Heavily Despite Record Losses Δ1.73

Petroleo Brasileiro SA Petrobras (PBR) has achieved record investments, expanded deepwater operations, and returned to the Dow Jones Sustainability Index, despite a significant quarterly loss due to an accounting event related to exchange rate variations. The company generated over 200 million reisis in cash and paid over 102 billion reisis in dividends in 2024. Investments increased by 31% to $16 billion, and financial debt was reduced to the lowest level since 2008.

Honeywell to Buy Pump Maker Sundyne for $2.16 Billion Δ1.72

Honeywell International is set to expand its energy business with the acquisition of Sundyne, a leading manufacturer of engineered pumps and gas compressors, as part of its efforts to strengthen its presence in the aviation, automation, and energy sectors. The deal will add to Honeywell's unit catering to the energy and petrochemical industries, while enhancing its aftermarket services business. By acquiring Sundyne, Honeywell aims to capitalize on the growing demand for industrial equipment and services.

Activist Investor Builds $1 Billion Stake in Cognizant Δ1.72

Mantle Ridge has built a stake worth more than $1 billion in consultancy firm Cognizant Technology, saying its shares are undervalued. Activist investor Mantle Ridge has been engaging with the company's management and board since mid-2024 to boost the share price. The activist firm intends to remain closely engaged with Cognizant's management and believes the company has more room to grow.

Shell Exploring Sale of Chemicals Assets in US, Europe, WSJ Says Δ1.72

Shell is considering the sale of its chemicals assets in the US and Europe as part of a strategy to refocus on more profitable operations. The move aims to diversify Shell's portfolio and increase returns for shareholders. This decision could have significant implications for the energy sector.

Africa Oil Announces Results of Share Buyback Program and Provides Share Capital and Voting Rights Update Δ1.72

Africa Oil Corp. has successfully repurchased a total of 882,000 common shares as part of its ongoing share buyback program, which aims to enhance shareholder value. The program has seen a total of 8,438,153 shares repurchased since its inception on December 6, 2024, with a maximum of 18,362,364 shares allowed to be repurchased over the designated twelve-month period. Following these transactions, Africa Oil has reported 433,296,117 common shares outstanding with voting rights as of February 28, 2025.

Oil Up, But Off Highs as Trump Warns New Russia Sanctions Possible Δ1.72

Oil prices experienced a rise on Friday but settled lower from earlier session highs following U.S. President Donald Trump's warning of potential sanctions on Russia related to the ongoing conflict in Ukraine. Brent crude futures closed at $70.36 a barrel, while West Texas Intermediate futures finished at $67.04, both reflecting a significant decline over the week, primarily due to trade war risks and an anticipated increase in OPEC+ supply. The market remains volatile as traders navigate geopolitical tensions alongside domestic economic indicators that signal uncertainty in the oil sector.

Elliott Takes REINS on Phillips 66's Governance Structure Δ1.72

Elliott Investment Management has nominated seven new directors for Phillips 66's board of directors, a move that could lead to significant changes in the company's governance structure and operational strategy. The activist investment firm has previously targeted this oil refiner, investing $2.5 billion and pushing for strategic improvements, including spinning off or selling its midstream business. These efforts have largely been unsuccessful, but Elliott is now returning with a more aggressive slate of nominees.

Alibaba Group Holding Limited (BABA) Is Skyrocketing So Far In 2025 Δ1.72

Alibaba Group Holding Limited's rapid revenue growth in the December quarter of 2024, driven by its Cloud Intelligence Group and e-commerce segments, has propelled the stock to significant gains in 2025. The company's net profit also surged to $6.72 billion, marking a notable increase from previous periods. Alibaba's success can be attributed to its strategic investments in AI, which have allowed it to stay ahead of competitors.

High Growth Oil Stock to Buy? Δ1.72

Kimbell Royalty Partners LP (KRP) stands out among high-growth oil stocks due to its unique business model, which combines royalty payments with production participation, providing a more stable revenue stream. This approach has allowed KRP to maintain a strong balance sheet and invest in emerging projects, while also benefiting from the increasing demand for liquid fuels worldwide. The company's focus on U.S. shale production has proven particularly successful, with its Permian Basin assets expected to drive significant growth in 2026.

Blackstone Out of Race for India's Haldiram's over Valuation Concerns Δ1.72

Haldiram's snacks business is estimated to hold a near 13% share of India's $6.2 billion savoury snacks market, with valuation being a key sticking point in the deal talks between Haldiram's and Blackstone. The private equity investor had initially wanted around a 15% stake at a valuation of roughly $8 billion, but negotiations ultimately failed to bridge the gap. Rival bidder Temasek remains in the race to acquire a minority stake in the business.

Philip Morris Weighs Cigar Sale Amid Smoke-Free Shift Δ1.71

Philip Morris International Inc. is considering selling its U.S. cigar business as part of its broader strategy to pivot towards smoke-free products. The company is reportedly seeking over $1 billion for the cigar division, which was acquired through the recent $16 billion purchase of Swedish Match AB. This move aligns with Philip Morris's goal to reduce its reliance on traditional tobacco products, with a target of smoke-free items making up two-thirds of sales by 2030.

TotalEnergies Short Position Disclosed by Elliott, FT Reports Δ1.71

The French oil major TotalEnergies has disclosed a EUR 670M short position against itself, reported Financial Times. The hedge fund Elliott Management has taken a significant bet against the company's stock, worth 0.52% of TotalEnergies' market capitalization. This move may signal concerns about the company's financial health and its ability to weather global energy market fluctuations.

Mars to Issue up to $40 Billion Bond Sale Amid Acquisition Financing Boom Δ1.71

Mars, the family-owned candy giant, is preparing to sell bonds worth between $25 billion and $30 billion as soon as next week to help finance its takeover of Pringles maker Kellanova. The bond sale, which could feature among the top 10 largest M&A financing deals in the investment-grade bond market since 2013, would headline a $40 billion rush of acquisition financing bonds. If successful, the deal would be part of a larger trend of companies issuing large amounts of debt to finance acquisitions.

Oil Steady as Tariff Uncertainty Keeps Investors on Edge Δ1.71

Oil prices held steady on Monday as concern over the impact of U.S. import tariffs on global economic growth and fuel demand, as well as rising output from OPEC+ producers, cooled investor appetite for riskier assets. Brent crude was down 11 cents at $70.25 a barrel by 0856 GMT. The ongoing tariff uncertainty has created market volatility, with oil prices experiencing their seventh consecutive weekly loss.