Market Chatter: BP, ConocoPhillips to Reportedly Announce New Investments in Iraq's Energy Sector

BP (BP.L), ConocoPhillips (COPH.VI, YCP.F), and other companies will reportedly announce investments in Iraq's energy sector that could potentially reach up to tens of billions of dollars, CNBC wrote Friday, citing people familiar with the plans.

The announcements are expected during the US-Iraq Business Summit in Washington, an event expected to yield more than $60 billion in agreements and memoranda of understanding between US companies and the Iraqi government, the report said.

The London-listed energy major and the exploration and production company did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: UK's Burnham Said He Plans North Sea Drilling, Thames Water Nationalization

Incoming UK Prime Minister Andy Burnham is preparing to announce support for new North Sea oil and gas drilling and plans to bring Thames Water under public control shortly after taking office, Bloomberg reported Thursday, citing people familiar with the matter.Burnham, who is due to succeed Keir Starmer on Monday, has asked civil servants to prepare energy and water policy proposals that could be announced as early as next week, according to the report.Options under consideration include backing development of the Jackdaw gas and Rosebank oil fields and expanding drilling tied to existing North Sea projects.Government officials expect Burnham ultimately to support at least the Jackdaw project, though formal approval may be delayed while public consultations continue, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

US to Impose 25% Section 301 Tariff on Certain Brazilian Imports

The Office of the US Trade Representative said late Wednesday it will impose a 25% tariff on certain imports from Brazil following the conclusion of a Section 301 investigation that found Brazil's trade practices unreasonable and restrictive to U.S. commerce.The action targets issues including digital trade, electronic payment services, preferential tariff treatment, intellectual property protection, ethanol market access, anti-corruption enforcement and illegal deforestation.The tariff will apply to most Brazilian imports, though products including beef, orange juice, aircraft and aircraft parts, and energy products are excluded.

Market Chatter: BP, ConocoPhillips to Reportedly Announce New Investments in Iraq's Energy Sector

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Market Chatter: UK's Burnham Said He Plans North Sea Drilling, Thames Water Nationalization
Incoming UK Prime Minister Andy Burnham is preparing to announce support for new North Sea oil and gas drilling and plans to bring Thames Water under public control shortly after taking office, Bloomberg reported Thursday, citing people familiar with the matter.Burnham, who is due to succeed Keir Starmer on Monday, has asked civil servants to prepare energy and water policy proposals that could be announced as early as next week, according to the report.Options under consideration include backing development of the Jackdaw gas and Rosebank oil fields and expanding drilling tied to existing North Sea projects.Government officials expect Burnham ultimately to support at least the Jackdaw project, though formal approval may be delayed while public consultations continue, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Equities13h ago
US to Impose 25% Section 301 Tariff on Certain Brazilian Imports
The Office of the US Trade Representative said late Wednesday it will impose a 25% tariff on certain imports from Brazil following the conclusion of a Section 301 investigation that found Brazil's trade practices unreasonable and restrictive to U.S. commerce.The action targets issues including digital trade, electronic payment services, preferential tariff treatment, intellectual property protection, ethanol market access, anti-corruption enforcement and illegal deforestation.The tariff will apply to most Brazilian imports, though products including beef, orange juice, aircraft and aircraft parts, and energy products are excluded.

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