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Sarco's Board Approves Early Talks to Boost Stake in Industrial Services Company

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Saudi Arabian Refineries Co (SASE:2030), d/b/a Sarco, said Thursday its board approved the start of initial talks with a strategic investor to increase its stake in an operating company within the industrial services sector.

The negotiations, which are still in preliminary stages, focus on the Saudi Arabian petroleum refining company's acquisition of an additional 36.5% stake in the target, in which it currently owns 27%.

Sarco said no final or binding agreements have been signed, and there is no certainty that a deal will be completed.

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Equities

Canada Says Oil Sands Have Policy Support Needed To Boost Output

Canadian oil sands producers have the federal policy support needed to increase production and fill planned new pipeline capacity, Energy Minister Tim Hodgson said Wednesday, Bloomberg reported.Canada plans to remove federal environmental reviews for some energy projects, including pipelines and oil sands projects, according to the report. More than 2 million barrels a day of new crude export pipeline capacity is planned over the coming decade.Hodgson said the regulatory changes are partly a response to trade tensions with the US, Bloomberg reported.

Equities

Market Chatter: Carney To Pitch Investors On Data Centers, Mines, LNG Projects

Canada plans to present institutional investors with 167 projects spanning data centers, advanced manufacturing, LNG, ports and mining at Prime Minister Mark Carney's Canada Investment Summit next week, Bloomberg reported Wednesday, citing a document seen by the news organization.The projects include potential minority stakes in Telesat and a multibillion-dollar Ontario battery plant backed by a Volkswagen subsidiary, according to the report. Proposals also include drone turbojets, a Nova Scotia space launchpad and quantum semiconductor manufacturing in Vancouver.The document features a potential CA$14.5 billion Alberta data-center campus being developed by BW Velora, Bloomberg said. Other projects include mining, clean energy, nuclear power, port modernization, a west-coast crude oil pipeline and LNG facilities, the report said.(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.)

Equities

Market Chatter: Energy Transfer set to Switch Primary Listing To TXSE From NYSE

Energy Transfer LP (ET) is set to become the first major company to switch its primary listing from the New York Stock Exchange to the Texas Stock Exchange, Bloomberg said Wednesday, citing people familiar with the matter.The $75 billion pipeline company plans to move its listing as soon as next month, the people said, according to the report.More companies are expected to announce plans to switch to TXSE in the coming weeks, according to the people, the report said.Energy Transfer's executive chairman Kelcy Warren owns a roughly 30% stake in TXSE Group and was one of its earliest investors, alongside BlackRock and Citadel Securities, Bloomberg said, citing a 2025 filing.Energy Transfer 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.)

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