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REFILE-Asian stock prices inch higher as fragile yen sparks intervention concerns
Asian stocks rose Wednesday, boosted by Japanese shares. Investors?prepared for a quick election in Japan, which could lead to fiscal stimulus. Worries about central bank independence, and 'benign U.S. data on inflation, whipsawed currencies. Gold prices reached a new record high as geopolitical tensions erupted across the globe. Oil prices also rose after U.S. president Donald Trump encouraged Iranians to continue protesting and said that help was on its way. Iran accused Trump, in turn, of inciting violence and encouraging political instability. Early Asian hours saw the Japanese yen at its lowest level since July 20,24, at 159.415 to the dollar. The threat of market intervention was resurfacing. Local media reported Prime Minister Sanae Takaichi considering holding a snap election for the lower house on February 8th. The weak yen, coupled with the prospect of additional stimulus, sent the Nikkei index up by more than 1% to a new record. This pushed Japanese government bond prices lower. Investors are worried about Japan's fiscal health and this "Takaichi" trade has been accelerated in recent weeks. Masahiko?Loo, senior fixed income strategist at State Street Investment Management said that the market movements reflected expectations for fiscal easing. However, they may have been overstated due to political constraints, as Takaichi’s coalition will need opposition support in the upper house of parliament to pass legislation. Loo stated that "any sharp and decisive move beyond 161 (for the yen) level could trigger a renewed intervention to reduce excessive volatility." In that scenario, the expectation of a Bank of Japan interest rate hike could?shift to April and serve as an inflection for currency dynamics. MSCI's broadest Asia-Pacific share index was up by 0.2%, hovering just below the record high reached on Tuesday. Overnight, U.S. stocks ended lower. Financial shares were the main culprit, as comments by JPMorgan executives fueled concerns about Trump's proposal to cap credit card interest rates. Chinese stocks were up 0.7% early in the day, but still a little below Tuesday's 10-year-high. European stock futures increased by 0.1%, signaling a muted opening. COOLING INFLATION The data released on Tuesday indicated that the U.S. inflation rate was moderate last month. This suggests the import tariffs are not being passed through to the prices, which could mean more rate cuts this year. However, the Fed is expected to "stand pat" this month. At least two rate reductions this year are being priced in by traders. However, the move is not expected to happen until May when Fed Chair Jerome Powell ends his term. Matt Simpson, senior market analyst for StoneX, says that U.S. inflation has not slowed 'enough' to cause imminent rate cuts. Simpson stated that the US dollar could enjoy a little more of a bid before the tide turns to bearish. The dollar index which measures the performance of the greenback against a basket including the yen, the euro and other currencies, has risen to 99.243, after gaining 0.2% the previous session. Investors were worried about Fed independence in the Trump administration after the U.S. Department of Justice had threatened to indict Fed Chairman Powell over a building renovation. Powell rebuked him for this and on Tuesday, global central bank officials issued a statement of support. Steve Lawrence, chief executive officer of Balfour Capital Group said that markets seemed to perceive this incident as more political than an actual threat. Lawrence stated that Powell's description of the threat of an indictment is intimidation, which reinforces this interpretation. It signals institutional defence and not escalation. From a market standpoint, this indicates that existing guardrails surrounding the Fed are still considered intact. Gold rose by 0.6%, to $4,613.93 an ounce, and silver soared over 2% to reach a new record. (Reporting from Ankur Banerjee, Singapore; Editing and proofreading by Thomas Derpinghaus.)
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Oil prices pause gains as Venezuela shipments resume but Iran concerns loom
The market is apprehensive about the possibility of Iranian supply disruptions after deadly unrest in this major Middle Eastern producer. Brent futures traded 9 cents lower or 0.14% at $65.38 per barrel at 0207 GMT. U.S. West Texas Intermediate Crude was down 12 Cents, or 0.2%, at $61.03 per barrel. Brent futures ended 2.5% higher Tuesday, while WTI rose 2.8%. Prices for both contracts have risen 9.2% in the last four trading sessions due to the?increasing protests against the fourth largest OPEC producer. U.S. president Donald Trump on Monday urged Iranians to continue protesting, and that help would soon be on its way. He did not specify what kind of aid he meant. Analysts at Citi raised their forecast for Brent oil over the next 3 months to $70 per barrel. Citi analysts note that the protests are not yet spread to the main Iranian oil producing regions, which limits the actual effect on supply. They said that the current risks were skewed towards political and logistical tensions, rather than outages. This would keep the impact on Iranian crude exports and supply contained. Venezuela, an OPEX founding member, is reversing the oil production cuts that were made as a result of the U.S. embargo. Crude exports are also?resuming', according to three sources. Two supertankers left Venezuelan waters Monday, each carrying 1.8 million barrels of crude oil. This could be the first shipment of a 50 million-barrel supply deal between Caracas & Washington in order to restart exports in the wake the capture by the U.S. of Venezuelan president Nicola Maduro. Even with geopolitical concerns, the fundamentals of the oil market suggest that supply and demand are much more flexible. The U.S. Inventory data released late Tuesday confirmed this. According to sources, according the American Petroleum Institute, crude stocks in the U.S. - the world's largest oil consumer - rose by?5.23million barrels during the week ending January 9. Sources also stated that API data revealed?gasoline inventory rose by 8.23 millions barrels while distillate inventory rose by 4.34million barrels compared to a week ago. The U.S. Energy Information Administration is scheduled to release its stockpile data later on Wednesday. On Tuesday, a poll indicated that U.S. crude stockpiles would have decreased last week while gasoline and distillate stocks were likely to rise. (Reporting and editing by Christian Schmollinger in Tokyo, with Katya Golubkova)
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'Are you dead?' Chinese app for singles goes viral
The app "Are You Dead" targeted to people who live alone in China has become a viral hit, with an influx of downloads and comments on social media. This prompted the company to charge a subscription and change its name for a wider audience. Sileme is the Chinese name for "Are You Dead?" The app is called "Are you dead?" in English. It was created as a "lightweight safety tool" for those who live alone, whether they are students, officers, or anyone else. App requires one emergency contact to be set up. It also sends an automatic?notification if the user does not check in for a period of consecutive days. The Global Times, a state-owned newspaper, reported that China could have as many as 200 million single-person households. This would translate to a solo living percentage of over 30%. Sileme announced on Tuesday, via its official Weibo account, that it will soon launch a new version of its global brand name Demumu. The app is called Demumu and is currently ranked number two on Apple's chart of paid apps. It was a top-ranked app earlier this week. "Thanks to all Netizens for your enthusiastic support." Sileme explained that the team was originally a small unknown group, founded and run independently by three people born after 1995. The company announced on Sunday it would launch a payment scheme of eight yuan ($1.15) to help pay for rising costs. Sileme's name was not changed by netizens of social media platforms, such as Weibo. Others suggested "Are You Alive", "Are You Online" or "Are You There." One user said that it was helpful for safety reasons. "Maybe some conservative people won't accept it," he added. It will help us singles feel more comfortable in our daily lives.
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Research firm predicts that global EV sales will slow down after a 20% increase in 2025.
Data showed that global EV registrations increased by 20% in 2018, but will likely slow down in 2026. This is because a combination of a slowdown in China, and the relaxation of electrification goals worldwide, led to a sales increase in December which was the lowest since February 2024. The number of monthly'registrations' of electric vehicles in North America, including plug-in and battery hybrids, has dropped even further since the United States ended its EV tax credit program in October, according to Benchmark Mineral Intelligence. Why it's important According to BMI data manager Charles Lester, radical policy changes, such as President Donald Trump's U turn on electrification, and the relaxation of emissions standards in the European Union in 2025, will transform the global EV industry into a "virtually non-recognisable" landscape. The debate over electrification will likely intensify due to the rising competition in Europe, as well as the cooling of demand in China. Electrification advocates stress the need to reduce CO2 emissions that are warming the planet. Carmakers argue a rapid transition would threaten jobs and profits. By the Numbers The data revealed that global EV registrations - a proxy for sales - rose by 6% in December to nearly 2.1 million vehicles, and will reach 20.7 million in 2025. In China, they increased by 2% to over 1.3 million. This is the lowest increase year-over-year since February 2024. The increase will be 17% to 12,9 million units in 2025. The country produced 71%?EVs that were sold globally. North American registrations dropped by 39%, to just over 100,000 vehicles sold. This follows similar drops in October and Novembre at the end of U.S. Tax Credits. The decline was 4% over the course of 2025. Europe saw a 34% increase in registrations in December and by 33% for the entire year. The rest of the world saw a 41% increase in sales in December and a 48% increase in 2025. What's Next? BMI predicts that 23.9 million EVs are expected to be sold worldwide this year. This is a 15.7% rise. Growth in China will accelerate to 21%, while Europe and the rest slowed to 15% and 26% respectively. The forecast is for a more dramatic decline of 23% due to the 29% drop in U.S.
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BlueScope Steel, Australia, to pay a special dividend of $292.5 Million to its shareholders
BlueScope Steel, an Australian steelmaker, announced on Wednesday that it would pay a special dividend to its shareholders of A$1 ($292.54m) funded by the surplus cash generated from recent asset sales. The excess cash comes from the sale of a stake in the joint venture with India’s Tata Steel and an agreement to sell a 33-hectare?of land in West Dapto, Australia, for A$76million. It also comes from the ongoing residual projects within its properties group which are expected to deliver A$200million in working capital in fiscal 2025 and in fiscal 2026. BlueScope manufactures steel products for construction and infrastructure. The company said it had chosen to return capital through a dividend, as a share buyback on the stock market was not feasible given the current business environment. Australia's largest iron and steelmaker was last week rejected A consortium of Australian conglomerate SGH, and U.S. based Steel Dynamics made a $9 billion offer to takeover the company. The bidders were accused of trying to "buy it on the cheap". BlueScope’s largest shareholder,?AustralianSuper backed its rejection, saying the offer undervalued the business. BlueScope is held by the pension fund, which owns 13.52%. The company said on Wednesday that the free cash generation was expected to increase over the next 12-18 months. BlueScope expects a reduction of capital expenditure by at least A$500 millions in fiscal 2027 as compared to fiscal 2026. In a statement, the company said that the special dividend would be payable on February 24. ($1 = 1.4972 Australian dollars) (Reporting by Rajasik Mukherjee; Editing by Alan Barona)
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The top cases in the US Supreme Court docket
During its current term, the U.S. Supreme Court weighs a number of important cases involving such issues as presidential powers and tariffs, gun rights, race, transgender sportspeople, campaign finance laws, voting rights, LGBT “conversion therapy”, religious rights, capital punishment, and more. The term began in October, and will run through June. Separately, the court has also acted in emergency cases in several cases that challenge President Donald Trump's policy. TRUMP TARIFFS During arguments on the 5th of November, the justices raised questions about the legality and impact of Trump’s sweeping tariffs. This case has implications for the global economic system. It is a test of Trump’s power. Both conservative and liberal justices pressed the lawyer for Trump's administration on whether or not a 1977 law meant to be used during national emergencies had given Trump the authority he claimed he needed to impose tariffs, or if the president had stepped into the powers of Congress. Some conservative justices, however, also stressed that presidents have inherent authority when dealing with foreign nations. This suggests the court may be divided on the final outcome. Lower courts ruled Trump had overreached by invoking the International Emergency Economic Powers Act of 1977 to impose tariffs. This was challenged by 12 U.S. States and various businesses. The ruling is expected to be made by the end June. Birthright Citizenship The court agreed to rule on the legality Trump's directive restricting birthright citizenship. This is a controversial part of Trump's?efforts? to curb immigration, and would change the way a 19th-century constitutional provision was understood. The lower court blocked Trump’s executive order, which instructed U.S. agencies to refuse to recognize citizenship for children born in the U.S. when neither parent was an American citizen or a legal permanent resident (also known as a "green-card" holder). The court found that Trump's directive violated the 14th Amendment of the U.S. Constitution and federal law codifying the birthright citizenship rights. This ruling was made in response to a class action lawsuit filed by parents and their children who felt threatened by this directive. Arguments in the case have not been scheduled. LOUISIANA ELECTORAL DISTRICTS The conservative justices of the court signaled on October 15, their willingness to undermine another key section in the Voting Right Act, a landmark 1965 law enacted to prevent racial bias in voting. This was during arguments in a case involving Louisiana's electoral districts. The case centers on Section 2 of the Voting Rights Act, which prohibits voting maps that dilute the power of minorities without proof of racism. The lower court found that the Louisiana electoral map, which divided the six U.S. House of Representatives district into two districts with a majority of Black people instead of one before, violated the Constitution promise of equal treatment. The ruling is expected to be made by the end June. TRUMP'S FIRE OF FED OFFICIAL On January 21, the justices will hear arguments about Trump's bid to remove Federal Reserve governor Lisa Cook. This is the first time a president has attempted to fire a Fed officer, as he questions the independence of the central bank. The court refused to decide immediately on a Justice Department's request to put a judge’s order temporarily blocking Trump from removing Cook. The Federal Reserve Act, passed by Congress in 1913 to create the Fed, included provisions that shielded the central bank against political interference. This law required governors to only be removed "for cause" and did not specify the procedure for removal. FEDERAL TRADE COMMISSION FIREING The conservative justices of the court have signaled that they will uphold Trump's legality in firing a Federal Trade Commission Member and also give a historical boost to president power, while also putting at risk a 90-year old legal precedent. On December 8, the court heard arguments in the Justice Department’s appeal of a lower court’s decision that the Republican President exceeded his authority by moving to dismiss Democratic FTC Member Rebecca Slaughter before her term expired in March. The conservative justices seemed sympathetic to the Trump Administration's argument that tenure protections granted by Congress to heads of independent agencies illegally infringed on presidential powers under the U.S. Constitution. Trump was allowed to remove Slaughter until the case concluded. The court is expected to make a decision by the end June. TRANSGENDER SPORTS PARTIcipation The conservative justices seemed ready to uphold the state laws that ban transgender athletes to female sports teams, amid an escalating nationwide effort to restrict transgender rights. The court heard arguments on January 13, in appeals filed by Idaho and West Virginia, regarding lower court decisions siding with transgender student who challenged the bans imposed in both states as violating federal anti-discrimination laws and the U.S. Constitution. 25 other states also have laws similar to Idaho's. The conservative justices expressed concerns over imposing a uniform law on the whole country, amid a sharp disagreement and uncertainty about whether medications such as puberty-blocking hormones or gender affirming hormones remove male physiological advantages in sport. The ruling is expected to be made by the end June. LGBT 'CONVERSION THERAPEUTY' On October 7, the conservatives of the court appeared to be ready to support a challenge to a Colorado law that prohibits psychotherapists from performing "conversion therapy", which aims to alter a minor's gender identity or sexual orientation. Christian counselors challenged the Colorado law under First Amendment protections from government abridgment. Colorado said that it regulates professional conduct and not speech and has the legal power to prohibit a healthcare practice they deem unsafe and ineffective. A lower court upheld this law. The ruling is expected to be made by the end June. HAWAII GUNS LAW On January 20, the justices will hear a challenge to Hawaii's law that restricts the carrying of handguns in public places, such as businesses. This gives the court an opportunity to expand gun rights. Three Hawaii residents who hold concealed-carry permits and a gun rights group based in Honolulu appealed the lower court's ruling that Hawaii's measure is likely to comply with the U.S. Constitution Second Amendment right of keep and bear arms. Hawaii's concealed carry law requires that licensees obtain the owner's permission before bringing their handguns onto public property. Drug Users and Guns On March 2, the justices will hear arguments from the Trump administration in a Texas case that involves a dual American/Pakistani national to defend a federal gun law which prohibits users of illegal drugs. Hunter Biden, son of former president Joe Biden, was charged under this law in 2023. The Justice Department appealed a lower court ruling which found that the gun restrictions were in violation of the Second Amendment rights to "keep and carry arms" guaranteed by the U.S. Constitution. The Gun Control Act, which was passed in 1968, prohibited gun ownership by drug users. CAMPAIGN-FINANCE On December 9, the court heard arguments in a Republican led bid to overturn federal spending limits by political parties coordinated with candidates. The case involved Vice President JDVance. The conservative justices seemed to be sympathetic towards the challenge. However, the three liberal members of the court appeared inclined to maintain the spending limits. The debate centers around whether federal limits on campaign spending coordinated with candidates' input violate First Amendment protections against government abridgment. Vance and Republican challengers have appealed the ruling of a lower court that upheld restrictions regarding the amount of money political parties can spend in campaigns, with input from candidates who they support. This type of spending is called coordinated party expenses. The ruling is expected to be made by the end June. MAIL-IN-BALLOTS The Mississippi state court will hear the defense of a law that Republicans are challenging. This state law allows for a five-day grace period to count mail-in votes received after Election Day. This case could lead to stricter voting laws in other states. A lower court declared illegal the state's law that allows mail-in votes sent by certain voters be counted even if they are postmarked before Election Day, but only received five days after an election. Arguments in this case have not been scheduled. U.S. ASYLUM - PROCESSING: The court accepted to hear the Trump Administration's defense to the U.S. Government's authority to restrict the processing of asylum requests at ports of entry on the U.S. Mexico border. The Trump administration appealed the lower court's ruling that the "metering policy" was illegal. This allowed U.S. Immigration officials to stop asylum seekers and refuse to process their claims at the border. Former President Joe Biden revoked the policy, but Trump has said that he would be open to re-introducing it. Arguments in the case have not been scheduled. HUMAN RIGHTS ABUSES ABROAD HUMAN RIGHTS ABUSES ABROAD HUMAN RIGHTS ABUSES ABROAD - The Court heard an appeal from Cisco Systems, in which both the company and Trump administration asked the justices for a limit on the federal law used to hold companies liable for abuses of human rights committed abroad. Cisco appealed the 2023 ruling which gave new life to a lawsuit filed in 2011 accusing the California-based firm of developing technology that enabled?China's Government to monitor and persecute Falun Gong members. The Alien Tort Statute was the basis of the lawsuit. This 1789 law had lain dormant in U.S. courtrooms for almost two centuries, before attorneys began to use it in the 1980s in international human rights cases. Arguments in the case have not been scheduled. CRISIS PREGNANCY COUNTER The court seems to be inclined to side with an operator of Christian faith based anti-abortion “crisis pregnancy center” in New Jersey, in a dispute arising from a state attorney general investigation into whether or not these facilities engages in deceptive practice. During the December 2 arguments, a large majority of the justices appeared to be inclined to revive a lawsuit filed by First 'Choice Women Resource Centers against Democratic Attorney General Matthew Platkin 2023's subpoena requesting information about the organization's doctors and donors. First Choice's facilities are designed to discourage women from getting abortions. The decision is expected to be made by the end June. RASTAFARIAN INMAT The conservative justices seemed inclined to reject the Rastafarian inmate's attempt to sue Louisiana state prison officials after they shaved his head in violation of religious beliefs. On November 10, the case was brought before the court under a federal statute protecting people incarcerated from religious discrimination. Plaintiff Damon Landor's religion requires that he let his hair grow. He appealed the decision of a lower court to dismiss his lawsuit, because they found that the statute in question did not allow for him to sue officials individually for monetary damages. The ruling is expected to be made by the end June. DEATH ROW INMATE The court heard arguments in December in an attempt by Alabama officials in order to pursue the execution for an inmate who was convicted of a murder in 1997 after a lower judge found him intellectually disabled, and therefore ineligible to receive the death penalty. The Republican-led state has appealed the lower court's decision that Joseph Clifton Smith was intellectually disabled based upon his intelligence quotient (IQ), test scores, and expert testimony. In a 2002 Supreme Court decision, the court ruled that executing a person intellectually challenged violated the Eighth Amendment of U.S. Constitution prohibiting cruel and unusual punishment. The Supreme Court is expected to rule by the end June. FCC FINES FOR WIRELESS CARRIER The Justices will hear the dispute over fines levied by the Federal Communications Commission against major U.S. carriers who shared customer location data with other companies without their consent. This is the latest case that has reached the Supreme Court challenging the authority of an American regulatory agency. The case concerns the FCC's efforts to impose tens-of-millions-of-dollars in fines on carriers like Verizon Communications and AT&T before they had a chance in court. Arguments in the case have not been scheduled. COX COPYRIGHT DISSERT The court heard arguments in December in an attempt by Cox Communications, a provider of internet services, to avoid financial responsibility in a major copyright lawsuit brought by record labels who accused Cox of allowing its customers to piracy thousands of songs. Justices sounded skeptical about Cox's claim that mere knowledge of user piracy was not enough to hold it responsible for copyright violations. A lower court ordered that a new trial be held to determine the amount of money Cox owes Sony Music Group, Warner Music Group Universal Music Group and others for contributing copyright infringement. Cox, which is the largest division of privately-owned Cox Enterprises said that the retrial may result in a verdict of up to $1.5 billion against it. The ruling is expected to be made by the end June.
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Brazil's Petrobras claims that Tupi oil field produces 1 million barrels per day
Magda Chambriard, the CEO of Brazil's state oil company Petrobras, announced on Tuesday that it has been producing one million barrels per day since Friday at its offshore Tupi Field. The Petrobras' effort to boost production at the declining oilfield, which was once Brazil's largest, led to the achievement. Chambriard stated, "It's the rescue of an important symbol for Brazil." She said in a statement that Petrobras has two giant oil fields, Tupi and Buzios, which have the potential to produce more than '1 million bpd. Both fields are located in Brazil's presalt Santos Basin, off the coasts of Rio de Janeiro. In a 2025 statement, the company said that it would connect 11 wells with production vessels in the Tupi area. Petrobras is also 'looking at building more wells and putting in a new floating production ship by 2031. Chambriard, who became Petrobras' chief executive officer in 2024 has been pushing the company to increase production on declining oil fields. She often repeats "every drop counts" in speeches and presentations. (Reporting and writing by Rodrigo Viga Gaier, Fabio Teixeira, Editing by Chris Reese & Paul Simao).
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Trump to limit state's ability to block energy project in water rule
The Trump administration proposed on Tuesday a rule that would revise the 'Biden-era protections against pollution for waterways. This move, according to the Environmental Protection Agency (EPA), would speed up permitting of energy infrastructure and artificial intelligence. The 'proposed' rule would revise a rule from the administration of former President Joe Biden in 2023 on Section 401, which gave tribes and states authority to protect waters during their review of federally-permitted projects such as pipelines and power stations. Biden's rule replaced one from the first administration of President Donald Trump that limited the power?of tribes and states to force changes or block projects. Jess Kramer - the EPA's?assistant director for water - told reporters that the 2023 revision is "fundamentally flawed, inefficient, and ineffective." Kramer claimed that Biden's revision led to long certification timelines. Kramer stated that the proposed rule will lead to predictable permitting, which?would?unleash American power dominance and support emerging artificial-intelligence infrastructure. Biden's rule was praised by environmental justice groups and conservationists concerned about the pollution effects on waterways, and communities that depend on them. Kramer stated that the proposed rule would ensure that states "do not weaponize section 401 to shut down projects for political reasons." The EPA stated that the proposed rule would standardize and set timelines for states and tribes to use when certifying water quality before federal permits are issued. The latest move was made by Trump's environment agency to rollback Biden-era rules on the environment while supporting energy development, including fossil fuels. Biden's administration had already narrowed this rule in August 2023, after the U.S. Supreme Court ruled on 9-0 that the EPA could not regulate the rule. Many farmers and landowners had criticized the agency over what they considered regulatory overreach. Kramer stated that the proposed rule would be subject to a 30-day period of public comment and that the EPA hoped to finalize it in the spring.
Canada's Tenaz Energy to Buy Dutch NAM's Offshore Assets
Canada's Tenaz Energy on Thursday said it had entered into an agreement with NAM, a joint venture between Shell, ExxonMobil and the Dutch government, to acquire all issued and outstanding shares of NAM Offshore B.V. for 165 million euros($180.33 million).
The Nederlandse Aardolie Maatschappij operates the Groningen gas field in the Netherlands.
Tenaz has operations in Canada along with offshore gas assets in the Netherlands.
In 2022, Shell and Exxon initiated the sale of NAM, one of the oldest natural gas production companies, along with stakes in the North Sea gas hub. Concurrently NAM independently launched a sale NAM Offshore B.V., its offshore assets.
The transaction, expected to close in mid-2025, includes all of NAM's offshore exploration and production businesses, associated pipeline infrastructure, and onshore processing in the Netherlands, excluding assets in the Ameland area.
Once the deal is closed, Tenaz will become the second-largest operator in the Dutch North Sea, the company stated.
NAM Offshore is projected to produce nearly 11,000 barrels of oil equivalent per day (boepd), with 99% being natural gas, and generate approximately 90 million euros ($98.36 million) of free cash flow based on current strip prices in 2024.
The gas is sourced from the L02/L09 fields in the Dutch North Sea and processed at the Den Helder Gas Plant, which handles roughly 50% of the region's gas, transported via the Northern Offshore Gas Transport pipeline.
Tenaz will also become operator of the NOGAT portion of Den Helder.
(Reuters - Reporting by Seher Dareen in Bengaluru; Editing by Tasim Zahid)