12/20 Closing Prices / revised 12/20/2024 21:59 GMT |  12/19 OPEC Basket  $72.88 –$0.45 cents 12/20 Mexico Basket (MME) $64.69 +$0.04 cents   11/30 Venezuela Basket (Merey)  $59.58   +$1.28 cents  12/20 NYMEX Light Sweet Crude  $69.46 +$0.08 cents | 12/20 ICE Brent $72.94 -$0.06 cents 12/20 Gasoline RBOB NYC Harbor  $1.942 +1% | 12/20 Heating oil NY Harbor  $2.234 -0.3% | 12/20 NYMEX Natural Gas $3.75 +4.60% | 12/20 Active U.S. Rig Count (Oil & Gas) 589 = 0| 12/20 USD/MXN Mexican Peso  $20.0745 (data live) 12/20 EUR/USD Dollar $1.0430 (data live) | 12/23 US/Bs. (Bolivar)  $51.35980000 (data BCV) | Source: WTRG/MSN/Bloomberg/MarketWatch/Reuters

Carlos Slim scoops more Talos Energy shares following surprise CEO departure

Talos Energy offshore field

Daniel Cancel and David Wethe, Bloomberg News

SAO PAULO/HOUSTON
EnergiesNet.com 09 09 2024

Carlos Slim, Latin America’s richest person, boosted his stake in U.S. oil and gas producer Talos Energy Inc. this week in the aftermath of a surprise exit by its founder and chief executive officer that sparked a drop in shares.

Through his Control Empresarial de Capitales holding firm, Slim bought about 2.7 million shares this week for just over $30 million, according to a Talos filing late Thursday. That brings his overall stake to 23.8% of the firm, cementing his position as the largest shareholder.

Slim has consistently ramped up his investments in Talos and US refiner PBF Energy Inc. over the past year in a sign that the 84-year-old billionaire sees plenty of upside in the oil and gas industry. In his native Mexico, Slim has partnered with Talos to explore one of the country’s most promising new discoveries in decades.

Tim Duncan, who was also one of the company’s founders, stepped down on Aug. 29, Talos said in a statement the following day. Board member Joseph Mills is running the Gulf of Mexico oil explorer on an interim basis while Talos looks for a permanent successor.

Shares dropped 3.9% on the day of the announcement. A representative for the Slim family said last week it had no prior notice Duncan was about to leave the company.

Control Empresarial de Capitales also bought about 2 million additional shares of PBF this week, according to a filing, and now holds 17.6% of the Parsippany, New Jersey-based refiner. The shares have slid every day this week and are trading at the lowest in more than a year.

While Slim’s fortune has fallen 17% this year to $87 billion, largely due to the devaluation of the Mexican peso, he’s been active, taking a new position in UK telecom firm BT Group PLC and increasing his stake in a Chilean telecom venture through America Movil SAB de CV.

bloombnerg.com 09 08 2024

Share this news


 EnergiesNet.com

About Us

 

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas,
Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com


CopyRight©1999-2024, Petroleumworld.com
, EnergiesNet.com™  /
Elio Ohep – All rights reserved
 

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the materia

 

Energy - Environment

No posts found!

Point of View

EIA Total Energy Review
This Week in Petroleum