Equinor Acquires Stake in Standard Lithium Smackover Projects
Equinor has acquired a 45% interest in two lithium projects in Arkansas...
Equinor has acquired a 45% interest in two lithium projects in Arkansas and Texas under development by Standard Lithium, which aims to commercialize direct lithium extraction (DLE) technology in the U.S.
As part of the agreement, Equinor said it would pay Standard Lithium $30 million to compensate for past project costs and interest. The Norway-headquartered company also said it will pay $33 million to progress the assets toward a possible final investment decision (FID) and up to another $70 million if FID is taken, according to a May 8 press release.
U.S. first-time jobless claims jump to nine-month high
The numbers: Initial jobless claims rose by 22,000...
The numbers: Initial jobless claims rose by 22,000 to 231,000 in the week ended May 4, the Labor Department said Thursday. That’s the highest level since last August.
Economists polled by The Wall Street Journal had estimated new claims would rise to 214,000.
Last week claims rose a revised 1,000 to 209,000. That compared with the initial estimate of an unchanged reading at 208,000.
ExxonMobil’s Acquisition of Pioneer Natural Resources Finalized
ExxonMobil’s $64.5 billion buyout of Pioneer Natural Resources is a...
ExxonMobil’s $64.5 billion buyout of Pioneer Natural Resources is a done deal. Together, they operate on 1.4 million acres across the western Delaware and eastern Midland sub-basins.
The large acquisition, first announced in October last year, was finalized last week. The move constituted a marriage of two of the largest fossil fuel companies active in the Permian Basin.
Regulatory hold-up stalls offshore CO2 storage plans
The Biden administration's delay in creating a leasing and permitting...
The Biden administration's delay in creating a leasing and permitting system for storing sequestered carbon in federal waters, as mandated by the 2021 Bipartisan Infrastructure Law, has left the nearly a dozen proposed developments in limbo. During a recent Senate hearing, Interior Secretary Deb Haaland emphasized the complexity of regulating a novel applied technology and said a timeline for finalizing a draft rule was not yet available.
U.K. bond yields and the British pound slipped on Thursday as the Bank...
U.K. bond yields and the British pound slipped on Thursday as the Bank of England saw two voters prefer an interest-rate cut.
By a 7-to-2 decision, the Bank of England opted to hold interest rates at 5.25%.
External member Swati Dhingra, who voted last month for a cut, was joined by Dave Ramsden, deputy governor for markets and banking, in voting for a reduction.
Gilt yields and the pound fell after the decision.
