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After months of procrastination, eni spa (E.US) and Equinor ASA (EQNR.US) have received approval for the sale of assets in Nigeria.
The Nigerian regulatory agency has approved the sale plan of Eni SPA and the Norwegian National Oil Company. The transaction between the two companies had been delayed for several months due to the oil giant's continued withdrawal from onshore business in this West African country.
Market concerns are being triggered by the poor implementation of production cuts. OPEC+ urges member countries to make up for quota cheating.
In the effort to support the global oil market, OPEC+ is pushing member countries to make up for cheating on supply quotas. However, there is little indication that they are changing.
Eni, Equinor Deals in Nigeria Approved After Months of Delay
Saudi Arabia's non-oil PMI index in June hit a new two-year low, while the UAE hit a new 16-month low.
1. In Saudi Arabia, the non-oil private sector PMI index fell to 55.0 in June, the lowest level since January 2022; 2. In the UAE, the growth of non-oil private sector has slowed to a 16-month low.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. 0112 GMT - AGL Energy should continue to benefit from higher pow
Schlumberger's OneSubsea Wins Green Production System Deal For TotalEnergies' Angola Project
Schlumberger Limited (NYSE:SLB) disclosed that its OneSubsea joint venture won a contract from TotalEnergies SE (NYSE:TTE) for a Subsea Production System.As per the terms, SLB OneSubsea and TotalEnerg