BP (BP.L) signed a production sharing agreement covering the Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq, and Qulboy blocks in Uzbekistan's North Ustyurt region.
The energy giant said Wednesday it acquired a 40% participating interest in the project, 20% each from existing partners Socar and Uzbekneftegaz, which now have a 30% stake each.
Socar will continue to operate the project, which is currently in its first phase.
Malaysia's Deputy Finance Minister Liew Chin Tong has refuted reports suggesting changes to the subsidized Budi Madani RON95 (Budi95) fuel quota, according to his Facebook post on Tuesday.He said claims that the monthly limit could be reduced to 150 liters from 200 liters were taken out of context and did not reflect his remarks at an Affin Bank (KLSE:AFFIN) fireside chat.Liew said he did not announce any government policy, adding that his comments focused on fuel usage data and travel patterns under the Budi95 mechanism.He said the framework is intended to help analyze consumption trends, with no decision made on any quota reduction.
BP (BP.L) and the United Steelworkers Union remain deadlocked in labor negotiations following the lockout of more than 800 workers at the company's Whiting refinery in Indiana, US, in March, Reuters reported Tuesday, citing a statement from the union.The union accused the energy company of delaying negotiations despite publicly expressing willingness to continue discussions, according to the report.It added that BP was unavailable to meet for nearly two weeks after it attempted to resume talks last week.BP did not immediately respond to a request 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.)
Abu Dhabi National Oil Co. For Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, said Wednesday that its profit and revenue for the first quarter rose year over year.Profit attributable to equity holders of the company for the three months ended March 31 was 770.7 million Emirati dirhams, compared with 638.7 million dirhams a year ago. EPS moved to 0.062 dirham from 0.051 dirham.The Abu Dhabi-listed fuel distributor and retailer's revenue was 8.83 billion dirhams, compared with 8.47 billion dirhams earlier.Analysts polled by FactSet were expecting 8.92 billion dirhams in sales, 640.8 million dirhams in net income, and 0.1 dirham in EPS.Meanwhile, the board approved a first quarterly dividend of 0.0514 dirham per share, payable on June 9 to shareholders on record May 22.