BP (BP.L) remains engaged in discussions with the United Steelworkers Local 7-1 bargaining committee for the Whiting refinery in Indiana, US.
The oil and gas giant said Wednesday that the parties "remain far apart" on critical proposals related to the refinery, reiterating its commitment to good faith negotiations.
The ongoing labor dispute has not impacted operations at the site, BP noted.
AlphaValue/Baader Europe upgraded its rating and earnings projections for TotalEnergies (TTE.PA, TTE.L), noting a "materially stronger" commodity environment.In a Tuesday note, the research firm's rating for the stock moved to add from reduce, with a price target of 91.3 euros. Meanwhile, EPS estimates for the energy giant were lifted by 83.7% to $13.5 for 2026 and by 30.2% to $10.1 for 2027."We have revised adjusted EPS upward, driven by the higher Brent and TTF deck feeding through to realised prices and gas margins, on top of resilient FY25 delivery. The upgrade is partly offset by elevated cash [capital expenditure] and a higher 39.1% effective tax rate," analysts said.
Borr Drilling (BORR.OL) priced an offering to redeem its Borr IHC subsidiary's outstanding 10% senior secured notes due 2028.The drilling contractor is offering to pay $1,048.36 for every $1,000 of the 2028 notes. At the time of the offer, $1.13 billion of the original issuance of $1.38 billion remained outstanding in the series. The offer will remain open until June 24.The group also has an ongoing offer to repurchase all of its outstanding 10.375% senior secured notes due 2030.
Abu Dhabi National Oil Co., d/b/a Adnoc, is evaluating upstream and liquefied natural gas investments in Canada as part of the United Arab Emirates' plans to expand its energy investments outside the country.The investments will be made through the diversified energy group's foreign investment arm XRG, Reuters reported Tuesday, citing the company's upstream Chief Executive Officer Musabbeh Al Kaabi.Al Kaabi, however, did not specify details of the investments.