FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: ExxonMobil Executive Describes Middle East LNG Shortfalls as Short Term

By

An ExxonMobil (XOM) executive said disruptions and shortages of liquefied natural gas supplies from the Middle East are expected to be short-term, Reuters reported Tuesday.

Andrew Barry, chairman of LNG market development at ExxonMobil, said at an industry event in Thailand that the company views the current disruptions as temporary, while underscoring the region's the long-term importance, according to the report.

ExxonMobil did not immediately reply to' request for comment.

(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.)

What else is happening in Equities?

Equities

Oaktree Capital Funds to Sell Torm Shares

Torm's (TRMD-A.CO) shareholder OCM Njord Holdings launched an offering of 9 million class A shares in the later, according to a Monday release.OCM, a company owned by Oaktree Capital Management-advised funds and affiliates, held a 20% stake in the refined oil product carrier before the offering. It launched the sale with a 30-day option for the sale of up to an additional 1,350,000 shares in Torm, which will not receive any proceeds from the transaction.

$TRMD-A.CO
Equities

BP Notes 'Generally Constructive' Talks with Representatives of Workers in US Refinery

BP (BP.L) said Monday that it had "generally constructive" discussions with the United Steelworkers union representing workers at its Whiting refinery in the US.Negotiations between the parties on a new pay package resumed on Monday, with a commitment to meet again later in the week.The oil and gas company affirmed its commitment to bargaining in good faith with the workers and assured that the refinery is operating continuously amid the ongoing labor dispute.

$BP.L
Equities

Trump Energy Chief Says Fuel Export Ban Wouldn't Lower Prices

Interior Secretary Doug Burgum said Monday that a US ban on fuel or crude exports would not lower domestic pump prices, Bloomberg reported.Burgum said the administration would consider an export ban only if there were a direct correlation between stopping exports and lowering prices at home, the report said.The comments came as retail diesel prices topped $6 a gallon and gasoline prices exceeded $4, with speculation that the administration could impose export restrictions ahead of the midterm elections, Bloomberg said.