SB1 Markets on Wednesday downgraded Norwegian energy company Equinor (EQNR.OL) to sell from neutral, while maintaining the price target at 365 Norwegian kroner.
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BP (BP.L) called out representatives of workers at its Whiting refinery in the US for delaying negotiations on a new wage deal.In a Wednesday letter to union leaders, the British oil and gas company reiterated its request for the resumption of talks and the union's agreement to the use of the Federal Mediation and Conciliation Service's mediation services in the discussions.BP said the letter followed unanswered attempts in June and July to resume negotiations, adding that the delay tactics are "neither constructive nor a good faith effort" in resolving the matter. The company also affirmed its commitment to bargaining in good faith.
Boss Energy (ASX:BOE) said the updated mineral resource estimate (MRE) for its Honeymoon Uranium Operation in South Australia stands at 21.4 million tonnes at 440 parts per million uranium oxide for 20.8 million pounds of uranium oxide metal, according to a Thursday Australian bourse filing.The updated mineral resource estimate represents a 42% decrease in metal and a 33% reduction in average grade compared with the 2019 MRE at a comparable cut-off grade, the filing added.The company said the updated MRE comprises 66% indicated and 34% inferred resources at a 100 parts per million cut-off, depleted as of June 30.The new feasibility study forecasts life-of-mine production of about 13.8 million pounds of uranium oxide drummed over a nine-year operating period, reaching 1.9 million pounds per year from fiscal 2030 to fiscal 2033, with forecast life-of-mine production 26% lower than the 2021 enhanced feasibility study, the filing added.The company said average C1 costs are AU$50 per pound and all-in sustaining costs are AU$79 per pound, reflecting a circa 28% increase in pregnant leach solution grade and a circa 50% reduction in wellfield infrastructure compared with the historical design.The company's shares plunged 17% in recent Thursday trade.
The owners of the 800-mile Trans-Alaska Pipeline System are seeking to renew its federal land authorization more than seven years before it expires, potentially securing another 30 years of operation under the Trump administration, Bloomberg reported Wednesday.The Interior Department said it is launching a formal review of an application from Alyeska Pipeline Service Co., which operates the pipeline for Hilcorp Energy, ConocoPhillips and ExxonMobil, Bloomberg reported.The review will begin with an environmental analysis, with the Bureau of Land Management giving the public 15 days to comment on its scope, the report said.An early renewal could provide greater certainty for a key conduit for North Slope crude, while avoiding the possibility of a future administration taking a more restrictive approach to the pipeline, Bloomberg reported.