FINWIRES · TerminalLIVE
FINWIRES

SLB CEO Expects More Investments in Exploration Once Middle East Conflict Subsides

By

SLB (SCL.F) Chief Executive Officer Olivier Le Peuch expects additional investments in exploration following the conflict in the Middle East, particularly the US-Israeli war with Iran, Reuters reported April 24.

Le Peuch said additional investments will stem from many countries' prioritization of supply diversification. He expects projects, including deepwater offshore developments in North America and Latin America, to benefit from the anticipated trend.

The oilfield services company's chief also expects oil prices to increase following the war, compared with levels before it broke out.

Related Articles

Equities

Heidmar Maritime Gets Nasdaq Notice Over Minimum Bid Price

Heidmar Maritime (HMR) said Friday it received a notice from Nasdaq indicating the company is not in compliance with the exchange's minimum bid price requirement after its shares traded below $1 per share for 30 consecutive business days.The company said it has until Oct. 19, 2026, to regain compliance with the requirement.Heidmar said it intends to monitor its share price and consider available options to regain compliance within the allowed timeframe. Its shares will continue to trade on Nasdaq during the grace period and the notice does not affect the company's business operations.Shares of Heidmar Maritime were down 3.6% in after-hours trading.

$HMR
Equities

S&P 500 Posts Fourth Consecutive Weekly Gain, Hits New Highs

The Standard & Poor's 500 index rose 0.55% this week to another round of fresh highs, led by the energy and technology sectors as oil prices climbed and Intel's (INTC) earnings topped views.The S&P 500 ended Friday's session at 7,165.08, its highest closing level yet. The market benchmark also reached a fresh intraday high on Friday at 7,168.59.This marks the S&P 500's fourth weekly gain in a row. It's up 9.8% for April and 4.7% for the year.US retail sales last month logged the largest rise since March 2025, data released earlier this week showed. The increase, however, came amid a surge in spending at gasoline station as the Middle East conflict led to higher prices.US consumer sentiment improved from an initial April estimate, and consumer sentiment remained at a record low as near-term inflation expectations logged the biggest monthly increase in a year, according to final University of Michigan survey results.The energy sector led the week's advance, rising 3.2%, followed by a 3.1% increase in technology and a 1.2% rise in consumer staples. Utilities and materials also edged higher.The energy sector's increase came as crude oil futures rose amid continued uncertainty in the Middle East.Baker Hughes (BKR) had the largest percentage gain in the energy sector, climbing 15% as the company reported Q1 adjusted earnings and revenue above analysts' mean estimates.The technology sector was boosted by stronger-than expected first-quarter results from Intel amid artificial intelligence-driven demand. The chip maker also issued an upbeat Q2 outlook. Its shares jumped 21% on the week.On the downside, health care fell 3.1%, followed by a 1.9% drop in financials and a 1.5% slip in real estate. Communication services, industrials and consumer discretionary also edged lower.HCA Healthcare (HCA) led the decliners in health care, falling 11%. The hospital operator's first-quarter results exceeded market expectations but the company also said it didn't experience its typical increase in seasonal volume during the quarter, mainly due to a drop in admissions related to respiratory issues.Thermo Fisher Scientific (TMO) also lost 11%. The medical device manufacturer raised its full-year outlook as first-quarter results came in stronger than expected, but investors were disappointed by its organic growth, which fell short of analysts' estimates.Next week's earnings calendar features a number of large companies including Google parent Alphabet (GOOG), Microsoft (MSFT), Amazon.com (AMZN), Facebook parent Meta Platforms (META), Apple (AAPL), Eli Lilly (LLY), Mastercard (MA), Caterpillar (CAT), Merck (MRK), Berkshire Hathaway (BRK.A, BRK.B), Verizon Communications (VZ), Visa (V) and Coca-Cola (KO).Economic data will include Q1 gross domestic product, March personal consumption expenditures and April consumer confidence, among other reports.The Federal Reserve's Federal Open Market Committee will hold a two-day rate policy meeting, concluding on Wednesday.

Dow JonesNasdaq CompositeS&P 500$BKR$HCA$INTC$TMO
Equities

Star Energy Group to Sell Croatian Geothermal Unit to Enna Geo

Star Energy Group (STAR.L) on Friday said it inked a deal to sell its subsidiary IGeoPen, which owns three geothermal exploration licenses in Croatia, to Enna Geo.The deal includes an initial cash consideration of 1.5 million euros and a financial earnout of 500,000 euros per license. Star Energy expects to receive 1.3 million euros from the cash consideration and another 1.5 million euros from the earnout portion, consistent with shareholder deals for IGeoPen's direct parent, A14 Energy.The AIM-listed energy company said the sale of IGeoPen was due to a delay in the announcement of a premium price tariff for geothermal projects by the Croatian government.A14 Energy is 71%-owned by Star Energy, with the remaining 29% held by Peninsula International Pte. Ltd.

$STAR.L