Latest news with #Simonelli
Yahoo
22-05-2025
- Sport
- Yahoo
Lega Serie A President Updates ‘At The Moment, Inter Milan Vs Napoli Title Playoff Would Be Played At San Siro' – Hints At Champions League Final Exception
Lega Serie A President Updates 'At The Moment, Inter Milan Vs Napoli Title Playoff Would Be Played At San Siro' – Hints At Champions League Final Exception Lega Serie A President Enzo Simonelli confirms that at the moment, a title playoff between Inter Milan and Napoli would be at the San Siro. Speaking to reporters, via FCInterNews, Simonelli also suggested that in the future the playoff could be scrapped in the event of one of the teams being in the Champions League final. Advertisement The Serie A title race is set to go down to the final day of the season. Inter Milan are one point behind Napoli at the top of the league table. The Nerazzurri could still finish level on points with the Partenopei. For this to happen, it would require Inter to draw with Como tomorrow in their final league match of the season, while Napoli lose to Cagliari. If that were to happen, the Serie A title would go down to a head-to-head playoff between Inter and Napoli. Serie A President: 'At The Moment, Inter Vs Napoli Title Playoff At San Siro' MILAN, ITALY – MAY 18: Simone Inzaghi, Head Coach of FC Internazionale, looks on prior to the Serie A match between FC Internazionale and SS Lazio at Stadio Giuseppe Meazza on May 18, 2025 in Milan, Italy. (Photo by) The prospect of a playoff for the title between Inter and Napoli creates some headaches for the Lega Serie A. Advertisement Firstly, there is the matter of where the match would take place. The league has set it so that the match would be at the home stadium of whichever team has the superior head-to-head, and in the event of parity there, superior goal difference. That would be Inter Milan. Therefore, the match would be at the San Siro. However, recent reports indicate that the match could instead be at the Stadio Olimpico in Rome instead, for reasons of 'public order.' Lega Serie A President Enzo Simonelli stated that 'at the moment, the playoff would be in Milan.' 'The rules state that the match would be played at the stadium of the team with the superior goal difference.' Advertisement 'Rome would be a possibility only if there were to be a provision from the Ministry of the Interior prohibiting the Neapolitan fans from travelling to away matches,' Simonelli elaborated. 'But at the moment, there's no such provision.' 'If on Friday evening at 23.00 the teams are level in the table, I would say that the playoff will be played at 20.45 at the San Siro in Milan,' the Lega Serie A President said. Simonelli Hints At Champions League Change To Playoff Meanwhile, the fact that Inter are in the Champions League final has created an additional scheduling headache for the league. Naturally, the Nerazzurri will want as much time to rest and prepare for that match as possible. Advertisement Therefore, Inter pushed to bump their and Napoli's final matches of the season forward. They hoped for the matches to be played today, but instead they will be tomorrow. That would mean that in the event there is a playoff, it will take place Monday. That would be five days before the Champions League final. That's hardly ideal in terms of giving Inter time to prepare for their clash with Paris Saint-Germain. Lega Serie A President Simonelli called the playoff 'the height of sportsmanship.' 'Awarding a title for a season that went on for 38 matches with great sacrifices by all teams on goal difference isn't ideal.' Advertisement 'When we decided to introduce the playoff, it was a good decision. Both from a sporting and media point of view.' 'It's a shame that this season it's clashed with such an intense fixture list,' Simonelli continued. 'And with a team playing in the Champions League final, Inter.' The Lega Serie A President updated that 'On June 6th there will be a meeting to discuss it.' 'But in my opinion, we should keep the playoff. It's a good thing.' But Simonelli added that 'I'd introduce a rule.' 'If one of the two teams in the playoff is in the Champions League final as well, then we go back to the old rule of the head-to-head or goal difference.' Advertisement 'That way we would safeguard the competitiveness of the league. But without penalizing teams playing for a European trophy.' 'In the event of an exceptional case like this season, the team that won according to the old criteria wins.'
Yahoo
14-05-2025
- Sport
- Yahoo
Serie A chief hints at possible final round switch: ‘Things can change'
Lega Serie A President Ezio Maria Simonelli confirms the final round of the season could be moved with just days to spare, as the very real risk of a Scudetto play-off develops. The gap at the top of the table has been cut to just a single point with two games left to be played, while the fights for the Champions League, Europa League, Conference League and relegation spots also look as if they will go down to the wire. Advertisement In order to ensure fairness, this means nine Serie A Week 37 games will be played simultaneously on Sunday May 18 at 19.45 UK time (18.45 GMT, 20.45 CET), with only Genoa vs. Atalanta utterly irrelevant for position now. Serie A Week 38 games still unscheduled Lega Serie A Enilive logo There were reports today that the Lega Serie A was prepared to move the final Week 38 matches forward to Thursday evening, to leave room before the Champions League Final on May 31 if Inter are asked to participate in a Scudetto play-off against Napoli. 'I repeat what I said, which is that we have a meeting that decided not to change anything, so at the moment we're playing on Saturday May 24 and Sunday May 25. That is the decision made on Monday May 12,' Lega Serie A chief Simonelli told reporters ahead of the Coppa Italia Final this evening. Advertisement 'We are waiting for the results of Week 37 and there will be another meeting, which could confirm this decision or change it. As of today, officially, we examined the matter and decided to maintain it as it is. 'In life, things can change. If the council of clubs changes its mind, then we'll change it.' NAPLES, ITALY – MARCH 01: Scott Mctominay of Napoli competes for the ball with Denzel Dumfries of Inter during the Serie A match between Napoli and FC Internazionale at Stadio Diego Armando Maradona on March 01, 2025 in Naples, Italy. (Photo by) When asked if Inter and Napoli agreed with this, Simonelli hinted that there was tension. 'Everyone has their own vision.' With just days to go, fans and television companies planning to watch the final games of one of the tightest seasons in years still don't know what day, let alone what time, they are kicking off.
NBC News
29-04-2025
- Business
- NBC News
Oil industry that Trump wants to 'drill, baby, drill' has taken a beating since he took office
President Donald Trump wants the oil and gas industry to 'drill, baby, drill' in pursuit of his energy dominance agenda, but the companies involved in the actual drilling and servicing of wells have instead taken a beating during his first 100 days in office. U.S. crude oil prices have fallen below $65 per barrel, down more than 20% since Trump's second term began, making it unprofitable for many companies to boost production, according to a survey by the Federal Reserve Bank of Dallas. Executives on the frontline of the U.S. shale oil boom were scathing in their criticism of Trump's policies in anonymous responses to that same survey. They used the word 'uncertainty' in their comments more than in any quarter since the start of the Covid-19 pandemic five years ago, according to Mason Hamilton, vice president of economics and research at the American Petroleum Institute. Oilfield service firms Baker Hughes, Halliburton and SLB are warning that investment in exploration, drilling and production will slow this year due to falling oil prices. Shares of Baker Hughes and SLB are down more than 20% since Trump's inauguration while Halliburton has slumped 32%. The S&P 500 energy sector has fallen more than 11% since Jan. 20, more than the broader market's decline of nearly 8%. SLB CEO Olivier Le Peuch told investors last week that Trump's tariffs are causing economic uncertainty that could hurt demand, while the group of producers known as OPEC+ is accelerating supply faster than originally anticipated. 'In this environment, commodity prices are challenged and until they stabilize, customers are likely to take a more cautious approach to near-term activity and discretionary spending,' Le Peuch said last week on SLB's first-quarter earnings call with analysts and investors. Less drilling The North American petroleum market faces more downside risk than the rest of the world because onshore oil production in the U.S. is more sensitive to commodity prices, the SLB CEO said. Baker Hughes forecasts global upstream investment in exploration and production will decline by high-single digits this year compared to 2024, with spending in North America falling by low double digits, CEO Lorenzo Simonelli told investors on its earnings call, also last week. 'The prospects of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels,' Simonelli said. But the situation is fluid, with little visibility into what the second half of the year will bring, especially for more economically-sensitive activities such as drilling and completion of wells, the Baker Hughes chief said. There's even a risk that the outlook could deteriorate further, he said. 'These expectations assume a stabilization of oil prices around the current levels and [that] tariffs hold at the current 90-day pause rates,' Simonelli said. 'A sustained move lower in oil prices or worsening tariffs would introduce further downside risk to this outlook.' For his part, Halliburton CEO Jeffrey Miller said customers are 'evaluating their activity scenarios and plans for 2025.' Miller warned on Halliburton's recent earnings call that a reduction in activity could result in 'higher-than-normal whitespace,' referring to periods when equipment is not being used. SLB expects revenue to be flat or grow by mid-single digits in the second half of the year. Baker Hughes sees a tariff impact of $100 to $200 million to its earnings before interest, tax, depreciation and amortization, assuming tariff rates don't increase further this year. Halliburton is forecasting that trade tensions will hit its earnings by 2 to 3 cents per share in the second quarter. Energy secretary promises 'clarity' Drilling contractor Patterson-UTI Energy also sees an uncertain outlook, though activity levels haven't been affected yet, CEO William Hendricks said on the company's earnings call last Thursday. Patterson-UTI's stock has tumbled about 35% since Trump came to office. 'If oil prices remain near current levels for an extended period, we could see some of our customers reevaluate their plans,' Hendricks said. The CEO said exploration and production companies are waiting to see if oil prices bounce back to the upper-$60-per-barrel range. 'In the lower-60s, we could see some softening if it stays in there,' Hendricks said. 'Certainly, there would be some E&Ps that make some decisions to reduce their budgets. But even in the low-60s, I wouldn't expect a drastic response from the customer base that we work for,' he said. U.S. Energy Secretary Chris Wright acknowledged to oil and gas executives at a conference in Oklahoma City last week that there is 'a lot of anxiety and uncertainty' in the industry right now. 'That'll be gone in a few weeks. Maybe it's a few months, but I think in a few weeks we'll get some clarity on that,' Wright said, defending Trump's trade policy. The oilfield services provider that Wright founded, Liberty Energy, has swooned nearly 46% since Trump's inauguration. Wright argued at the Oklahoma conference that U.S. reindustrialization as a result of Trump's trade policy will ultimately boost energy demand. In an interview with CNBC on Monday, the energy secretary said he does not expect U.S. oil production to drop meaningfully. 'Our administration, we don't have any impact on the short-term movement of oil prices or any price for that matter,' Wright told CNBC's Brian Sullivan. 'We are trying to do everything we can to lower the cost to produce a barrel of oil,' he said, pointing to Trump's efforts to slash regulations and speed permitting.
CNBC
29-04-2025
- Business
- CNBC
Oil companies that Trump wants to ‘drill, baby, drill' have taken a beating since he took office
President Donald Trump wants the oil and gas industry to "drill, baby, drill" in pursuit of his energy dominance agenda, but the companies involved in the actual drilling and servicing of wells have instead taken a beating during his first 100 days in office. U.S. crude oil prices have fallen below $65 per barrel, down more than 20% since Trump's second term began, making it unprofitable for many companies to boost production, according to a survey by the Federal Reserve Bank of Dallas. Executives on the frontline of the U.S. shale oil boom were scathing in their criticism of Trump's policies in anonymous responses to that same survey. They used the word "uncertainty" in their comments more than in any quarter since the start of the Covid-19 pandemic five years ago, according to Mason Hamilton, vice president of economics and research at the American Petroleum Institute. Oilfield service firms Baker Hughes, Halliburton and SLB are warning that investment in exploration, drilling and production will slow this year due to falling oil prices. Shares of Baker Hughes and SLB are down more than 20% since Trump's inauguration while Halliburton has slumped 32%. The S&P 500 energy sector has fallen more than 11% since Jan. 20, more than the broader market's decline of nearly 8%. SLB CEO Olivier Le Peuch told investors last week that Trump's tariffs are causing economic uncertainty that could hurt demand, while the group of producers known as OPEC+ is accelerating supply faster than originally anticipated. "In this environment, commodity prices are challenged and until they stabilize, customers are likely to take a more cautious approach to near-term activity and discretionary spending," Le Peuch said last week on SLB's first-quarter earnings call with analysts and investors. The North American petroleum market faces more downside risk than the rest of the world because onshore oil production in the U.S. is more sensitive to commodity prices, the SLB CEO said. Baker Hughes forecasts global upstream investment in exploration and production will decline by high-single digits this year compared to 2024, with spending in North America falling by low double digits, CEO Lorenzo Simonelli told investors on its earnings call, also last week. "The prospects of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels," Simonelli said. But the situation is fluid, with little visibility into what the second half of the year will bring, especially for more economically-sensitive activities such as drilling and completion of wells, the Baker Hughes chief said. There's even a risk that the outlook could deteriorate further, he said. "These expectations assume a stabilization of oil prices around the current levels and [that] tariffs hold at the current 90-day pause rates," Simonelli said. "A sustained move lower in oil prices or worsening tariffs would introduce further downside risk to this outlook." For his part, Halliburton CEO Jeffrey Miller said customers are "evaluating their activity scenarios and plans for 2025." Miller warned on Halliburton's recent earnings call that a reduction in activity could result in "higher-than-normal whitespace," referring to periods when equipment is not being used. SLB expects revenue to be flat or grow by mid-single digits in the second half of the year. Baker Hughes sees a tariff impact of $100 to $200 million to its earnings before interest, tax, depreciation and amortization, assuming tariff rates don't increase further this year. Halliburton is forecasting that trade tensions will hit its earnings by 2 to 3 cents per share in the second quarter. Drilling contractor Patterson-UTI Energy also sees an uncertain outlook, though activity levels haven't been affected yet, CEO William Hendricks said on the company's earnings call last Thursday. Patterson-UTI's stock has tumbled about 35% since Trump came to office. "If oil prices remain near current levels for an extended period, we could see some of our customers reevaluate their plans," Hendricks said. The CEO said exploration and production companies are waiting to see if oil prices bounce back to the upper-$60-per-barrel range. "In the lower-60s, we could see some softening if it stays in there," Hendricks said. "Certainly, there would be some E&Ps that make some decisions to reduce their budgets. But even in the low-60s, I wouldn't expect a drastic response from the customer base that we work for," he said. U.S. Energy Secretary Chris Wright acknowledged to oil and gas executives at a conference in Oklahoma City last week that there is "a lot of anxiety and uncertainty" in the industry right now. "That'll be gone in a few weeks. Maybe it's a few months, but I think in a few weeks we'll get some clarity on that," Wright said, defending Trump's trade policy. The oilfield services provider that Wright founded, Liberty Energy, has swooned nearly 46% since Trump's inauguration. Wright argued at the Oklahoma conference that U.S. reindustrialization as a result of Trump's trade policy will ultimately boost energy demand. In an interview with CNBC on Monday, the energy secretary said he does not expect U.S. oil production to drop meaningfully. "Our administration, we don't have any impact on the short-term movement of oil prices or any price for that matter," Wright told CNBC's Brian Sullivan. "We are trying to do everything we can to lower the cost to produce a barrel of oil," he said, pointing to Trump's efforts to slash regulations and speed permitting.
Mint
23-04-2025
- Business
- Mint
Baker Hughes forecasts drop in producer spending as tariffs pinch demand
Baker Hughes sees 2025 upstream capex down by high-single digits Warns of tariff cost impact, working to raise domestic sourcing LNG technologies and equipment seen as bright spot for Baker By Arathy Somasekhar and Mrinalika Roy HOUSTON, April 23 (Reuters) - U.S. oilfield service provider Baker Hughes on Wednesday forecast steeper drops in spending by global oil producers as tariffs dent demand expectations and push down prices for crude. Baker Hughes echoed rival Halliburton's concerns on Tuesday, that weak oil prices could push down oilfield activity in North America. Houston-based Baker Hughes, which reported better-than-expected first-quarter profit on Tuesday, now expects global upstream spending to be down by high-single digits in 2025. Oil and gas producer spending in North America, excluding Mexico, is set to decline in the low-double digits, Baker Hughes said, compared with a previous expectation for a drop in the mid-single digit range. Internationally, spending is expected to ease to mid- to high-single digits compared with a previous forecast for spending to be flat to down year-on-year. "In North America, discretionary spending delays are extending into the second quarter, driven by ongoing uncertainty. Additionally, recent oil price volatility presents potential downside to second half activity, particularly in U.S. land," said Baker Hughes CEO Lorenzo Simonelli. The prospect of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels, Simonelli said, adding that some of the weakness would be offset by strength in markets like Brazil and several countries in the Middle East and Asia Pacific. The company also warned of cost impacts from tariffs on U.S. imports from China, Germany, Britain and Italy, as well as a modest impact from steel and aluminum tariffs. Baker Hughes also sources some oilfield components and chemicals from Canada and Mexico, it said. It said it was working to increase domestic sourcing, and was talking with customers to recover some costs. Baker Hughes forecast a $100 million to $200 million impact on its annual earnings before interest, tax, depreciation and amortization. Baker shares were down 5% at $36.46 late Wednesday morning. Liquefied natural gas (LNG) technologies and equipment are expected to be a bright spot for Baker Hughes, after U.S. President Donald Trump ended the moratorium on new LNG export permits, and on the back of rising gas and power demand for data centers. Several key LNG customers in the Gulf Coast are indicating plans to further expand capacity beyond 2030, offering greater clarity regarding the potential increase in installed capacity above the anticipated 800 million tonnes per annum by the end of the decade, Simonelli said. "We're really not seeing customers pull back from LNG, gas infrastructure or the data center projects," Simonelli said. The company said it expects to book at least $1.5 billion of orders in data center equipment over the next three years. (Reporting by Arathy Somasekhar in Houston Editing by Marguerita Choy) First Published: 23 Apr 2025, 09:19 PM IST
