Zenith Energy (ZEN.L, ZENA.OL) agreed to sell its onshore drilling rig to a Philippines-based company operating in the oil and gas sector.
The energy production company said Friday the $4.3 million sale of the ZEN-260 rig will improve its financial position and secure funding to boost development of its Italian solar portfolio.
The deal received clearances from the relevant authorities in the Philippines, with the rig's import into the country scheduled for July.
TotalEnergies (TTE.PA, TTE.L) is considering selling a 50% interest in 1.2 gigawatts of solar parks and wind farms in France, Germany, Poland and Spain, Bloomberg reported Friday, citing people familiar with the matter.The French energy company is working with advisers on the transaction, which could raise several hundred million euros, according to the report.The possible sale is part of TotalEnergies' strategy of selling 50% stakes in renewable energy projects once they are completed to boost investment returns, Bloomberg said.TotalEnergies 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.)
Vallourec (VK.PA) said Friday it will collaborate with engineering and consulting company Syngular Solutions on carbon capture and geological storage projects in Brazil.The French energy pipelines company said Friday that the memorandum of understanding will involve developing bioenergy with carbon capture and storage, as well as carbon capture, utilization, and storage initiatives.Vallourec noted that the agreement aims to boost its footprint in the new energy market through partnerships.
BofA Global Research reiterated its investment case for Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, noting management commentary on "bullish" second-half oil demand outlook and its supply stability."We hosted Aramco's Investor Relations team for a fireside chat. The team highlighted: 1) company's supply reliability supported by best in class fields and the East West (EW) pipeline, 2) ability to ramp-up production quickly post resolution, 3) focus on capturing incremental value by exporting refined products from the West Coast (WC), 4) healthy seasonal oil demand into 2H with depleted inventories, 5) reiteration of capital investment guidance of US$50-55bn for FY26E. We maintain Buy: shares trade on a 2027E PE of 13x, c.20% discount to average since IPO, while offering a 2027E/28E dividend yield of c.6%," according to a Thursday note.The research firm noted that the oil giant avoided production shut-ins impacting some of its peers by lowering production of heavier crudes and prioritizing light crude movement through the East-West pipeline.Amid a cumulative supply loss of 880 million barrels since late February and rising oil prices, the report highlighted Aramco's positive demand outlook for the latter half of 2026, further bolstered by the lack of a "material increase" in production from non-Gulf Cooperation Council producers.The stock has a price objective of 34.50 Saudi riyals.