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407 stories mentioning BPUpdated 16h ago

Featured in energy-sector and European ADR roundups as oil prices swung around the US-Iran truce reopening the Strait of Hormuz.

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Sectors

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks fell late Friday afternoon with the NYSE Energy Sector Index declining 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.4%.The Philadelphia Oil Service Sector Index fell 0.5%, and the Dow Jones US Utilities Index dropped 1.2%.West Texas Intermediate crude oil fell 2.2% to $99.70 a barrel, and global benchmark Brent shed 1.5% to $103.21 a barrel. Henry Hub natural gas futures were little changed at $2.90 per 1 million BTU.In corporate news, Westinghouse Electric is aiming for a valuation of over $50 billion in its US initial public offering, Bloomberg reported. The company, which provides reactor technology to nuclear power plants and is co-owned by Brookfield Renewable Partners (BEP) and Cameco (CCJ), is looking to file publicly as early as October, the report said. Brookfield Renewable shares rose 1%, and Cameco fell 1.3%.TotalEnergies (TTE) partnered with BlackRock-owned (BLK) Global Infrastructure Partners to manage its African oil and gas infrastructure assets, the energy major said. Under the deal, GIP will invest $1.8 billion for a stake in some of TotalEnergies' midstream infrastructure assets in Africa, it said. TotalEnergies shares were down 1%.BP (BP) Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse, Osaka Gas said. BP shares were 1.8% lower.Equinor (EQNR) signed a long-term agreement with Thailand's PTT Trading to supply liquefied natural gas, Reuters reported. Equinor shares were down 0.5%.

$BEP$BP$CCJ$EQNR$TTE
Sectors

Sector Update: Energy Stocks Lower in Afternoon Trading

Energy stocks were softer Friday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) easing 0.2%.The Philadelphia Oil Service Sector Index was falling 0.8%, and the Dow Jones US Utilities Index dropped 1.1%.Front-month West Texas Intermediate crude oil fell 1% to $100.86 a barrel, and the global benchmark Brent crude contract shed 1.1% to $103.66 a barrel. Henry Hub natural gas futures increased 0.3% to $2.91 per 1 million BTU.In sector news, European refiners may not be allocated any crude oil next month after Saudi Arabia's main pipeline to the Red Sea was attacked, Bloomberg reported.In corporate news, TotalEnergies (TTE) partnered with BlackRock-owned (BLK) Global Infrastructure Partners to manage its African oil and gas infrastructure assets, the energy major said. Under the deal, GIP will invest $1.8 billion for a stake in some of TotalEnergies' midstream infrastructure assets in Africa, it said. TotalEnergies shares were down 1%.BP (BP) Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse, Osaka Gas said. Shares were 1.6% lower.Equinor (EQNR) signed a long-term agreement with Thailand's PTT Trading to supply liquefied natural gas, Reuters reported. Equinor shares were shedding 0.5%.Ecopetrol (EC) board has appointed Carlos Augusto Suarez Rojas as chairman and Claudia Margarita Lafaurie Taboada as vice chair, the company said. Ecopetrol shares were up 0.8%.Petrobras' (PBR) unit Petrobras Netherlands signed production sharing contracts for eight offshore exploration blocks in Cote d'Ivoire, the company said Thursday. Shares were down 0.5%.

$BP$EC$EQNR$PBR$TTE
Sectors

Sector Update: Energy Stocks Fall Pre-Bell Friday

Energy stocks were falling pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.1%.The United States Oil Fund (USO) was up 0.7% and the United States Natural Gas Fund (UNG) was 0.5% higher.Front-month US West Texas Intermediate crude oil was 0.9% higher at $102.82 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.6% to $104.24 per barrel, and natural gas futures were down 0.3% at $2.89 per 1 million British Thermal Units.TotalEnergies (TTE) partnered with BlackRock-owned (BLK) Global Infrastructure Partners to manage its African oil and gas infrastructure assets, the energy company said. Shares of TotalEnergies SE were down more than 1% premarket.BP (BP) Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse, Osaka Gas said. BP shares were down more than 1% pre-bell.Equinor (EQNR) signed a long-term agreement with Thailand's PTT Trading to supply liquefied natural gas, Reuters reported, citing a company statement. Equinor shares were 0.1% lower premarket.

$BP$EQNR$TTE$UNG$USO$XLE
Equities

Correction: Market Chatter: Saudi Aramco May Cut Crude Oil Supply to European Refiners After Pipeline Attacks

(Corrects to remove company names not mentioned in source article.)European refiners may not be allocated any crude oil next month after Saudi Arabia's main pipeline to the Red Sea was attacked, Bloomberg reported Friday.Saudi state-owned oil and gas company Saudi Aramco told at least two European oil refining firms that they will not receive crude oil next month due to the fighting, according to the report, which added that European customers normally receive a continuous flow of supply every month.The East-West pipeline was shut last week after drone attacks, according to Bloomberg. The line is expected to partially resume operations within days and return to full service within six weeks, a person familiar with the situation told the news outlet.Saudi Aramco didn't 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.)

$BP$EQNR$SHEL$TTE
Commodities

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Friday as Tech Rally Continues

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was 0.03% lower and the actively traded Invesco QQQ Trust (QQQ) was 0.2% higher in Friday's premarket activity amid technology gains and the Federal Reserve's rate hike.US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.03%, and Nasdaq futures gaining 0.4% before the start of regular trading.State unemployment and leading indicators data for August are due to be released at 10 am ET.Federal Reserve Vice Chair for Supervision Michelle Bowman and Kansas City Fed President Jeffrey Schmid are slated to speak Friday.In premarket activity, bitcoin was up by 1.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% higher, Ether ETF (EETH) advanced 2.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) advanced 0.5%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.2%, the Vanguard Health Care Index Fund (VHT) was 0.2% lower, while the iShares US Healthcare ETF (IYH) gained 1%. The iShares Biotechnology ETF (IBB) was down 0.1%.Xenon Pharmaceuticals (XENE) shares were down 22% after the company paused enrollment of new patients in studies for major depressive disorder and bipolar depression.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was flat, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.2%, and the iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.CAVA (CAVA) shares were up more than 3% pre-bell after the company said its board authorized a plan for the repurchase of up to $100 million of its outstanding common stock.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.1%, the iShares US Technology ETF (IYW) was 0.8% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.6%, while the iShares Semiconductor ETF (SOXX) rose by 0.2%.Alphabet (GOOG, GOOGL) shares were up 2% in premarket activity after the company said its Waymo unit intends to open its fully autonomous ride-hailing service to riders in Singapore in 2028.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.3% higher.HSBC (HSBC) shares were down 1% after the Australian reported that National Australia Bank is considering the acquisition of HSBC's Australian retail deposit business.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.01%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.Waste Connections (WCN) stock was up more than 1% before the opening bell after UBS upgraded it to buy from neutral.EnergyThe iShares US Energy ETF (IYE) was down 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.6% lower.BP (BP) stock was down more than 1% after Osaka Gas said BP Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.2% to reach $102.12 per barrel on the New York Mercantile Exchange. Natural gas was up 0.3% at $2.91 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.2%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for November retreated by 0.04% to $4,397.80 an ounce on the Comex. Silver futures rose 1.1% to $66.83 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) rose by 2%.

Dow JonesNasdaq CompositeS&P 500$BP$CAVA$FAS$FAZ$GLD$GOOG$GOOGL$HSBC$IBB$IGM$IYE$IYH$IYJ$IYK$IYW$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$WCN$XENE$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Update: US Equity Futures Mixed Pre-Bell as Major Averages Rebound After Fed-Induced Sell-Off

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mixed pre-bell Friday as the major stock averages posted a rebound after a decline following Wednesday's first Federal Reserve interest rate hike since 2023.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% higher.The US State Department has approved a potential $24.3 billion sale of 48 Lockheed Martin (LMT) F-35 fighter jets and related equipment to Saudi Arabia, as the Middle Eastern nation faces escalating attacks from Iran-backed Houthi forces. Lockheed Martin and RTX's (RTX) Pratt & Whitney would be the main contractors, according to a congressional notification issued Thursday.Oil prices were mixed, with front-month global benchmark North Sea Brent crude down 1% at $103.76 per barrel and US West Texas Intermediate crude 0.3% higher at $102.23 per barrel.The August industrial production report, due at 9:15 am ET, is projected to show a 0.3% gain following a 0.2% increase in the prior month, according to estimates compiled by Bloomberg.August's leading indicators data is scheduled to be released 10 am ET.Federal Reserve Governor Michelle Bowman, and Kansas City President Jeff Schmid are slated to speak on Friday.In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.6% higher, and China's Shanghai Composite finished 0.9% higher. Meanwhile, the UK's FTSE 100 was down 1.2%, and Germany's DAX index was 1.2% lower in Europe's early afternoon session.In equities, Apollo Global Management (APO) stock was up 2.9% after a Reuters report that the company is exploring either a full or partial sale of Energos Infrastructure that could value the floating liquefied natural gas infrastructure provider at more than $3 billion.On the losing side, HSBC (HSBC) shares fell 1.3% after a report from the Australian that the National Australia Bank is considering the acquisition of HSBC's Australian retail deposit business. BP (BP) stock was down 1.6% after Osaka Gas said that BP Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse. Nucor (NUE) shares were 2.7% lower after the company said late Thursday it expects Q3 earnings of $5.55 to $5.65 per diluted share, falling short of analysts' consensus.

Dow JonesNasdaq CompositeS&P 500$APO$BP$HSBC$LMT$NUE$RTX
Equities

Update: Market Chatter: Saudi Aramco May Cut Crude Oil Supply to European Refiners After Pipeline Attacks

(Update to add stock symbols)TotalEnergies SE (TTE), BP (BP), Shell (SHEL), Equinor (EQNR) and other major European oil refiners may not be allocated any crude oil next month after Saudi Arabia's main pipeline to the Red Sea was attacked, Bloomberg reported Friday.Saudi state-owned oil and gas company Saudi Aramco told at least two European oil refining firms that they will not receive crude oil next month due to the fighting, according to the report, which added that European customers normally receive a continuous flow of supply every month.The East-West pipeline was shut last week after drone attacks, according to Bloomberg. The line is expected to partially resume operations within days and return to full service within six weeks, a person familiar with the situation told the news outlet.Shares of the four companies were trading lower Friday pre-bell.Saudi Aramco didn't 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.)

$BP$EQNR$SHEL$TTE
Oil & Energy

Market Chatter: Senegal Plans to Increase Domestic Gas Use to Cut Power Generation Costs

Senegal intends to increase use of domestically-produced natural gas to reduce electricity generation costs and lower its reliance on imported fuels, Reuters reported Thursday, citing the country's energy minister El Hadji Abdourahmane Diouf.The West African nation's rising oil and gas output has boosted its economic growth and exports in recent years but a surge in energy prices due to the Middle East conflict has increased the cost of fuel subsidies, the report said.In a written reply to Reuters' questions, Diouf said the country is focusing on reducing electricity generation costs through the development of domestic natural gas, renewable energy capacity expansion and improvement in operational efficiency. Earlier this month, the government said it aimed to cut energy costs by up to around 30% through measures, including subsidy reforms.Senegal is willing to work with new partners to develop its resources, Diouf said, while naming companies such as BP (BP), Kosmos (KOS) and Woodside (WDS) as strategic partners that have played an important role in recent gas discoveries, development and production in the country.has reached out separately to the country's Minister of Energy and Petroleum for comments.(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.)

$BP$KOS$WDS
Equities

BP to Sell 5% Stake in Western Australia LNG Project to Osaka Gas

BP (BP) Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse, Osaka Gas said Friday.Osaka Gas said that the purchase will be funded by Osaka Gas Australia and the Japan Organization for Metals and Energy Security.The project --, currently progressing towards the front-end engineering and design stage -- proposes the development of the Brecknock, Calliance, and Torosa offshore gas fields, with the project operated by Woodside Energy (WDS), Osaka Gas said.BP shares were down 1.5% in premarket activity.

$BP$WDS
Equities

BP Indiana Refinery, Union Schedule Another Meeting for Tuesday

BP (BP) said Thursday that representatives from its refinery in Whiting, Indiana, will meet again with the United Steelworkers Local 7-1 union Tuesday to continue discussions regarding the ongoing labor dispute.While previous conversations were "constructive," the parties are still working on "several key issues," BP said."The refinery continues to operate safely, reliably and compliantly, with no impact to operations as a result of the current labor dispute," the company said.BP shares were down 1.7% in premarket activity Friday.

$BP
Asia Markets

European Equities Traded in the US as American Depositary Receipts Rise Sharply in Thursday Trading

European equities traded in the US as American depositary receipts were rising sharply late Thursday morning, up 1.24% to 1,928.04 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical companies Cellectis (CLLS) and DBV Technologies (DBVT), which advanced 10.9% and 5.2% respectively. They were followed by telecommunications company Nokia (NOK) and semiconductor company Sequans Communications (SQNS), which rose 4.6% and 4.1% respectively.The decliners from continental Europe were led by brewing company Anheuser-Busch InBev (BUD) and oil and gas company Eni (E), which fell 1% and 0.7% respectively. They were followed by healthcare tech company Royal Philips (PHG), which was off 0.1% respectively.The gainers from the UK were led by biotech firm Autolus Therapeutics (AUTL) and biotech firm Trinity Biotech (TRIB), which increased 4% and 3.1% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Bicycle Therapeutics (BCYC), which were up 3% and 2.9% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and software firm Endava (DAVA), which dropped 19.8% and 0.6% respectively. They were followed by medical device maker Smith & Nephew (SNN) and oil and gas company BP (BP), which lost 0.6% and 0.2% respectively.

$AUTL$BCYC$BDRX$BP$BUD$CLLS$DAVA$DBVT$E$NOK$PHG$SLN$SNN$SQNS$TRIB
Sectors

Sector Update: Energy Stocks Fall Pre-Bell Thursday

Energy stocks were falling pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.The United States Oil Fund (USO) was down 1.7% and the United States Natural Gas Fund (UNG) was 0.5% lower.Front-month US West Texas Intermediate crude oil was 2.6% lower at $99.76 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3.5% to $102.14 per barrel, and natural gas futures were down 0.6% at $2.87 per 1 million British Thermal Units.Petrobras (PBR) has renewed and expanded its agreement with Computer Modelling for software licensing and support by five years, the Canada-based software and consulting company said. Shares of Petrobras were down 1% premarket.BP (BP) is set to resume talks with the United Steelworkers union representing workers at its Whiting refinery on Thursday, the company said. BP stock was 0.9% lower pre-bell.

$BP$PBR$UNG$USO$XLE
Equities

BP to Meet Whiting Refinery Union for Second Round of Talks This Week

BP (BP) is set to resume talks with the United Steelworkers union representing workers at its Whiting refinery on Thursday, the company said Wednesday.The BP Whiting refinery and elected representatives of United Steelworkers Local 7-1 previously met on Monday to discuss an agreement, including proposals to modernize job structures.The British company said it is proposing a six-year agreement, an extended 150-day industrial peace clause before any future strike or lockout after the contract expiration, and wage increases that would raise pay by an average of 13% over the first four years of the contract.

$BP
Asia Markets

European Equities Traded in US as ADRs Rise in Wednesday Trading

European equities traded in the US as American depositary receipts edged higher late Wednesday morning with the S&P Europe Select ADR Index gaining 0.1% to 1,921.21.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and biopharmaceutical company DBV Technologies (DBVT), which rose 3.1% and 2.1%, respectively. They were followed by biotech firm Evaxion (EVAX) and semiconductor company Sequans Communications (SQNS), which gained 1.3% and 1%, respectively.The decliners from continental Europe were led by biopharmaceutical company Cellectis (CLLS) and petroleum refiner Equinor (EQNR), which dropped 12% and 1.6%, respectively. They were followed by oil and gas company Eni (E) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which lost 1.2% and 1%, respectively.The gainers from the UK were led by biotech firm Autolus Therapeutics (AUTL) and utilities company National Grid (NGG), which advanced 1.9% and 1.7%, respectively. They were followed by mining company BHP Group (BHP) and hospitality company InterContinental Hotels Group (IHG), which increased 1% and 0.9%, respectively.The decliners from the UK and Ireland were led by biopharmaceutical companies Biodexa Pharmaceuticals (BDRX) and Mereo BioPharma Group (MREO), which shed 13% and 3.5%, respectively. They were followed by oil and gas companies Shell (SHEL) and BP (BP), which lost 2% and 1.9%, respectively.

$AUTL$BBVA$BDRX$BHP$BP$CLLS$DBVT$E$EQNR$EVAX$IHG$MREO$NGG$NOK$SHEL$SQNS
Asia Markets

European Equities Traded in the US as American Depositary Receipts Decline in Tuesday Trading

European equities traded in the US as American depositary receipts were heading lower late Tuesday morning, declining 0.54% to 1,914.78 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and petroleum refiner Equinor (EQNR), which rose 2.5% and 2% respectively. They were followed by medical device maker EDAP (FOCL) and oil and gas company Eni (E), which were up 1% and 1.5% respectively.The decliners from continental Europe were led by accommodations booking site trivago (TRVG) and biopharmaceutical company Cellectis (CLLS), which fell 2.3% and 11% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and biotech firm BioNTech (BNTX), which dropped 3% and 2.6% respectively.The gainers from the UK were led by biopharmaceutical companies Biodexa Pharmaceuticals (BDRX) and Mereo BioPharma Group (MREO), which advanced 15% and 1.8% respectively. They were followed by oil and gas companies Shell (SHEL) and BP (BP), which increased 1.9% and 2% respectively.The decliners from the UK and Ireland were led by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Akari Therapeutics (AKTX), which lost 6.5% and 6.6% respectively. They were followed by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Bicycle Therapeutics (BCYC), which were down 5.7% and 3.1% respectively.

$AKTX$BCYC$BDRX$BNTX$BP$CLLS$DBVT$E$EQNR$FOCL$MREO$NOK$SHEL$SLN$TRIB$TRVG
Commodities

BP Says Talks With Whiting Refinery Workers 'Constructive'

Representatives of BP's (BP) Whiting refinery in Indiana met on Monday with members of the United Steelworkers Local 7-1, BP said in a statement, describing talks to end a long-running dispute between the company and its workers as "constructive."The sides will meet again later this week, BP said.BP said it remains committed to bargaining in good faith towards an agreement that supports employees and the refinery's long-term future. It said the refinery was running safely and reliably during this process.BP said it is offering training and upskilling, a six-year agreement, a 150-day peace clause ruling out future strike action in that period, increases to wages that it says are already in the top 10% to 15% in Indiana with rises for six years and a $2,500 lump sum signing bonus.The company said the offer would equate to a 13% rise in base wage rates in the first four years of the agreement.could not reach Local 7-1 for a comment.

$BP
Equities

BP, United Steelworkers Agree to Continue Labor Discussions

BP (BP) said Monday its Whiting refinery team held talks with the United Steelworkers Local 7-1 committee.The company said discussions were generally constructive and that it remains committed to bargaining in good faith.BP is proposing a six-year agreement with modernized job structures, training and upskilling, base wage increases and a $2,500 lump sum signing bonus.The company said employees would receive an aggregate 13% increase in base wage rates over the first four years, followed by increases in the final two years, with additional payments of $5,000 to $7,500 in certain roles.Both parties have agreed to meet again later this week, with refinery operation continuing to operate normally, BP said.

$BP
Commodities

BP, United Steelworkers to Resume Whiting Refinery Labor Negotiations Monday

BP (BP) Whiting refinery will resume talks with United Steelworkers Local 7-1 representatives on Monday, as both sides seek progress toward a new labor agreement, the company said Friday."We remain committed to getting our employees back to work and securing a ratified agreement is the way we do that," said Whiting refinery Vice President Chris DellaFranco."We have continuously reached out to indicate our readiness to meet for informal discussions, on-the-record negotiations, or formal mediated bargaining with the assistance of an independent federal mediator. It's a positive development that the union's elected representatives have agreed to resume talks," DellaFranco said.The meeting will mark the first engagement since Governor Braun's office brought the sides together July 30, while their previous meeting took place June 16, 2026.BP said it wants a mutually acceptable deal and will continue using dialogue and mediation to help advance negotiations.The company proposed updated job structures and training programs to strengthen workers' skills while supporting safer and more reliable refinery operations.BP proposed average pay gains of 13% over the first four contract years, followed by the National Oil Bargaining Program pattern in the last two years, plus a $2,500 ratification bonus and $5,000 to $7,500 payments for certain roles.BP also proposed shifting limited work to qualified local service providers, affecting about 65 union employees, with many eligible for lump-sum payments equal to one year of base pay.The proposed six-year agreement would provide greater stability through a 150-day industrial peace period before any strike or lockout after the contract expires.BP announced in March that it would lock out Whiting refinery workers after United Steelworkers rejected an updated offer to settle the labor dispute, while BP said a separate group of BP employees would continue operating the refinery.Price: $45.97, Change: $-0.11, Percent Change: -0.25%

$BP
Oil & Energy

Market Chatter: Vancouver-China Aframax Freight Rates Reach Record High on Firm Demand

Aframax tanker Vancouver-China freight rates hit an all-time high Thursday amid tightening vessel supply and firm demand, while competing trade economics improved in Asia and the Arab Gulf, S&P Global reported, citing shipbrokers.The Vancouver-China Aframax rate stabilized near $3.1 million through August and early September. However, shipowner Centrofin secured a $7.5 million trans-Pacific run from ExxonMobil (XOM) after the charterer entered the market late for an end-September cargo. The rate reached its highest level since Platts began publishing the benchmark in October 2024.Six transatlantic fixtures emerged from the US Gulf Coast Thursday, with rates climbing through the day. Eni (E), Sinochem, Equinor (EQNR), and BP (BP) all booked cargoes, each at a higher rate than the last.The gains come amid a fresh escalation between the US and Iran, with US forces striking Iranian tankers this week and Iran claiming retaliation against vessels in the Gulf.ExxonMobil, Eni, Sinochem, Equinor and BP did not immediately reply to' request for comment.(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.)Price: $164.80, Change: $-0.44, Percent Change: -0.26%

$BP$E$EQNR$XOM
Sectors

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks were higher late Wednesday afternoon, with the NYSE Energy Sector Index rising 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.The Philadelphia Oil Service Sector Index was up 0.4%, and the Dow Jones US Utilities Index fell 1%.Brent crude prices crossed $100 per barrel for the first time since late July as Iran attacked 10 ships near the Strait of Hormuz, deepening the Middle East conflict.Front-month West Texas Intermediate crude oil rose 3.6% to $96.39 a barrel, and the global benchmark Brent crude contract gained 3.5% to $101.34 a barrel. Henry Hub natural gas futures fell 3.8% to $2.81 per 1 million BTU.In corporate news, BP (BP) has attracted interest from several potential buyers for its North Sea operations, Bloomberg reported. Potential suitors include Equinor (EQNR) and Shell (SHEL) joint venture Adura and TotalEnergies-backed (TTE) NEO Next+, the report said. BP shares rose 1.7%.Baker Hughes (BKR) said it now expects full-year revenue of $28.50 billion to $30.30 billion, compared with prior outlook of $26.65 billion to $28.05 billion. Analysts surveyed by FactSet expect $28.03 billion. Its shares lost 0.3%.New Fortress Energy (NFE) said Wednesday that its board approved a 1-for-50 reverse stock split of its class A common stock. The reverse stock split is intended to help the company regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market. New Fortress shares rose 4.8%.Shell Lubricants and Faw Trucks have jointly developed a battery pack that has been successfully tested on the Shell Starship 3.0 hybrid concept truck and is ready for future use in Faw's hybrid commercial vehicles, the companies said. Shell shares were up 0.3%.

$BKR$BP$NFE$SHEL

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