Orlen (PKN.WA) is looking for new sources of crude oil after the geopolitical situation in the Middle East disrupted deliveries from key partner Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, Bloomberg News reported Friday, citing its Chief Executive Officer Ireneusz Fąfara.
Fąfara said the move is the Central and Eastern Europe-focused oil company's longer-term goal, adding that the company is also exploring ways to increase its own reserves.
BP (BP.L) agreed to meet again with the elected representatives of the United Steelworkers union on Sept. 22 to discuss a labor agreement for its Whiting refinery in the US.The parties agreed on the schedule during a meeting on Thursday, according to a same-day release. The oil and gas company said the conversations were "constructive" and that both parties continue to work on several key issues of the deal.Amid the talks, BP assured that the ongoing labor dispute is not affecting operations at the site.
Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, has been bidding for diesel cargoes in the Mediterranean, Bloomberg News reported Thursday, citing brokers who monitor S&P Global Energy's Platts pricing window.Sources told the news outlet that the Saudi Arabian state-owned oil giant has also been seeking to secure gasoline in Europe.Saudi Aramco 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.)
DNB Carnegie on Wednesday launched coverage of British oil and gas exploration and production company Ithaca Energy (ITH.L) with a buy rating and a price target of 3.25 pounds sterling.