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407 stories mentioning BPUpdated 19h ago

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Wire

Market Chatter: BP in Talks to Sell Some Oil and Gas Assets in Egypt to Energean

BP (BP) is in exclusive talks with Energean to sell some of its upstream oil and gas assets in Egypt, Reuters reported Thursday, citing two people involved in the process.BP could raise about $1 billion from the deal, which includes its holding in the producing offshore West Nile Delta Assets, jointly owned with Harbour and its 50% contractor working stake in the Temsah concession in the eastern Mediterranean, the report said, citing the people.The companies didn't immediately reply to requests 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.)Price: $42.01, Change: $-0.49, Percent Change: -1.15%

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Wire

BP in Talks to Sell Certain Upstream Oil, Gas Assets in Egypt to Energean, Reuters Reports

BP in Talks to Sell Certain Upstream Oil, Gas Assets in Egypt to Energean, Reuters Reports

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Commodities

BP Urges USW to Resume Talks Over Whiting Refinery Labor Dispute

BP (BP) on Wednesday urged the United Steelworkers union to resume talks over a labor dispute at its Whiting refinery in Indiana, noting that it supports federal mediation to help resolve outstanding issues and reach an agreement that would allow employees to return to work.The energy firm's Head of People Relations Americas Jordan Marcks called for a response on whether the union would participate in mediation through the Federal Mediation and Conciliation Service.BP said the proposal followed a July 30 meeting convened by Indiana Governor Mike Braun's office in Indianapolis to discuss the negotiations.During the meeting, the parties discussed using an FMCS mediator already assigned to the Whiting negotiations to accelerate progress toward a resolution, with BP agreeing to the proposal. BP said that the union had said it wanted to discuss the matter internally before responding.Negotiations between BP and USW Local 7-1 last took place on June 16, and the company said no further meetings have been held since then despite its efforts to restart discussions."The company remains supportive of using FMCS mediation services to work through the remaining issues that separate us," Marcks said in the letter, adding that BP was committed to bargaining in good faith toward an agreement that supports employees, the community and the refinery's long-term future.BP said both sides share the goal of getting union-represented employees back to work, arguing that reaching a new collective agreement was the route to achieving that objective.The letter characterized the union's delays in scheduling further meetings and responding to the mediation proposal as unconstructive and inconsistent with efforts to resolve the negotiations.The Whiting refinery is operated by BP Products North America.Price: $42.04, Change: $-0.46, Percent Change: -1.08%

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Sectors

Sector Update: Energy Stocks Lean Lower Pre-Bell Thursday

Energy stocks were leaning lower pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.3%.The United States Oil Fund (USO) and United States Natural Gas Fund (UNG) were 0.8% higher.Front-month US West Texas Intermediate crude oil was 0.5% higher at $82.63 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.9% to $88.66 per barrel, and natural gas futures were up 1.2% at $2.88 per 1 million British Thermal Units.Enbridge (ENB) signed a definitive agreement with KKR (KKR) to form a joint venture that will invest about $2.7 billion Canadian dollars ($1.94 billion) to fund the expansion of the Aspen Point and Sunrise programs on the Westcoast natural gas pipeline system, the company said. Enbridge shares were marginally lower premarket.BP (BP) is pressing the United Steelworkers to return to the bargaining table and agrees to federal mediation concerning the company's Whiting, Indiana refinery, according to a letter sent to union leaders. BP stock was 0.2% higher premarket.Nabors Industries (NBR) has completed a $35 million strategic investment in Quaise Energy, making it the largest shareholder in the latter with a 14% stake. Nabors Industries shares were down 0.2% pre-bell.

$BP$ENB$KKR$NBR$UNG$USO$XLE
Equities

BP Urges United Steelworkers to Resume Talks, Seek Mediation to End Whiting Refinery Dispute

BP (BP) is pressing the United Steelworkers to return to the bargaining table and agrees to federal mediation concerning the company's Whiting, Indiana refinery, according to a letter sent to union leaders dated Wednesday.In the letter, Jordan Marcks, BP North America's head of People Relations, said the company remains committed to reaching a negotiated agreement that would allow employees to return to work.BP said it agreed during a July 30 meeting convened by Indiana Governor Braun's office to use the Federal Mediation and Conciliation Service mediator already assigned to the negotiations, but the union "did not immediately agree" and has not responded since.The company said it remains supportive of mediation and wants to resume bargaining "as soon as possible," according to the letter.United Steelworkers did not immediately respond to' requests for comment.

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Commodities

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Wednesday Amid Inflation Data Release

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1%, and the actively traded Invesco QQQ Trust (QQQ) was 0.3% lower in Wednesday's premarket activity as July PCE inflation came in above expectations.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures gaining 0.03%, and Nasdaq futures slipping 0.2% before the start of regular trading.Mortgage applications fell by 1% in the week ended Aug. 21, a reflection of slightly higher average 30-year fixed mortgage rates, according to Mortgage Bankers Association data released Wednesday.Personal income rose by 0.4% in July following June's 0.2% gain, larger than the expected 0.2% gain in a survey conducted by Bloomberg as of 6:10 am ET.New orders for US durable goods rose by 1.1% in July following an increase of 0.5% in the previous month, compared with the expectations for a smaller increase of 0.5% in a survey compiled by Bloomberg.Weekly crude oil stocks data will be released at 10:30 am ET.Richmond Fed President Tom Barkin is slated to speak on Wednesday.In premarket activity, bitcoin was down by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% lower, Ether ETF (EETH) advanced 0.03%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 0.01%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.2%, the iShares US Technology ETF (IYW) was 0.3% lower, and the iShares Expanded Tech Sector ETF (IGM) was up 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 1.8% higher, while the iShares Semiconductor ETF (SOXX) declined by 0.1%.Intuit (INTU) shares were down more than 9% after the company's outlook for fiscal Q1 and fiscal 2027 missed analyst expectations.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.1%, the Vanguard Health Care Index Fund (VHT) advanced 0.8%, while the iShares US Healthcare ETF (IYH) declined 0.9%. The iShares Biotechnology ETF (IBB) was 0.1% higher.Summit Therapeutics (SMMT) stock was up more than 9% premarket after the company said late Tuesday its partner Akeso reported "positive" results from a phase 3 trial of ivonescimab plus chemotherapy, compared with durvalumab plus chemotherapy as a first-line treatment of advanced biliary tract cancer.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.5%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.03% lower.Trupanion (TRUP) shares were down 4% in premarket activity after Piper Sandler downgraded the company to neutral from overweight and cut its price target to $32 from $45.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.6%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% higher.JM Smucker (SJM) shares were up more than 3% pre-bell after the company reported higher fiscal Q1 adjusted earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was inactive and the iShares US Industrials ETF (IYJ) was flat.SFL (SFL) stock was up more than 2% before the opening bell after the company posted higher preliminary Q2 basic earnings and operating revenue.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.7%.Eni (E) stock was down more than 1% before market open after losing 2% in the prior session. The company said Tuesday it is working with project partners BP (BP) and Egyptian Petroleum to reach a final investment decision in a few months regarding the major gas discovery Denise West in Egypt's Temsah Concession. BP stock was 1.7% lower.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 2.5% to $80.32 per barrel on the New York Mercantile Exchange. Natural gas was up 2.5% at $2.84 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased 1.1%, while the United States Natural Gas Fund (UNG) was 1.1% higher.Gold futures for November were down by 0.3% at $4,682.80 an ounce on the Comex. Silver futures gained 0.2% to reach $69.60 an ounce. SPDR Gold Shares (GLD) decreased 1%, and the iShares Silver Trust (SLV) was 0.3% lower.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BP$E$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$INTU$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SFL$SJM$SLV$SMMT$SOXX$SPY$TRUP$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Commodities

Aker BP Starts Production at Skarv Satellites 1-Year Ahead of Schedule

Aker BP has commenced production from the Skarv Satellite project comprising the Alve Nord, Idun Nord, and Orn fields in the Norwegian Sea, a full year ahead of schedule, the company said on Wednesday.Delivered safely and within strict cost controls, the development unlocks about 120 million barrels of oil equivalent in recoverable resources, it stated.Each field utilizes a dedicated subsea template and two wells tied back to the Skarv FPSO, leveraging existing infrastructure to achieve a low emissions intensity, the company noted.Executed through Aker BP's collaborative alliance model with key partners like OneSubsea, Subsea7, Aker Solutions, and Halliburton, the project marks the final delivery of the company's 2022 subsea tie-back portfolio, it added.Aker BP is jointly owned by BP (BP) and Norway-based Aker.

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Equities

Aker BP Starts Production at Skarv Satellite Project

Aker BP disclosed Wednesday that it has started production from the Skarv Satellite Project, which comprises three offshore oil fields in the Norwegian Sea.The fields, which have been put into production one year ahead of schedule, represent 120 million barrels of oil equivalent of recoverable resources, and extend the life of extant company infrastructure around Skarv.In filings with regulatory agencies, British oil giant BP (BP) and Aker BP have indicated the British oil giant owns a 15.9% stake in Aker BP.

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Sectors

Sector Update: Energy Stocks Fall Tuesday

Energy stocks fell Tuesday with the NYSE Energy Sector Index declining 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.7%.The Philadelphia Oil Service Sector Index shed 0.6%, and the Dow Jones US Utilities Index rose 0.1%.In geopolitical news, Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.West Texas Intermediate crude oil fell 3.2% to $82.28 a barrel, and global benchmark Brent dropped 4% to $88.53 a barrel. Henry Hub natural gas futures rose 0.3% to $2.84 per 1 million BTU.In corporate news, SLB (SLB) has received access to Venezuela's oilfield data following a contract signed between the company and the state-run Petroleos de Venezuela, Reuters reported. SLB shares declined 1.3%.Shell (SHEL) put its Aphrodite offshore gas project in Trinidad and Tobago on hold following commercial disagreements with the country's National Gas Co., Reuters reported. The shares eased 0.5%.Eni (E) is working with project partners BP (BP) and Egyptian Petroleum to reach a final investment decision in a few months regarding the major gas discovery Denise West in Egypt's Temsah concession. Eni shares fell 2.1%, and BP shed 2%.NuScale Power (SMR) shares jumped 8.2%. The company is deploying nuclear-specific AI tools from Nuclearn and NPX to support engineering and knowledge management as it advances its next-generation SMR program.

$BP$E$SHEL$SLB$SMR
Oil & Energy

Eni Expands Egypt Investments, Targets New Gas Growth From Denise West Discovery

Eni (E) is expanding its investments in Egypt, advancing new gas projects and exploration while deepening the country's role as a Mediterranean energy hub, the company said Tuesday.Eni Chief Executive Officer Claudio Descalzi met Egyptian President Abdel Fattah el-Sisi to discuss the company's partnership with Egypt and upcoming initiatives, with Prime Minister Mostafa Madbouly and Petroleum Minister Karim Badawi also attending.Descalzi highlighted Eni's recent upstream investments, which have strengthened its position as Egypt's leading oil and gas producer while supporting higher new gas production across the country.Eni's offshore Mediterranean drilling campaign, which began in October 2025, delivered the Denise West discovery in April 2026 with about 2 trillion cubic feet of gas and 130 million barrels of condensate.Eni is working with partners BP (BP) and EGPC on a fast-track Denise West development and expects to reach a final investment decision within the next few months, targeting first gas in less than two years.The company has also focused on short-cycle, infrastructure-led exploration and extending legacy assets, helping lift offshore Sinai production 50% since 2025 while generating additional discoveries in the offshore Nile Delta and Western Desert.With IEOC as its Egyptian subsidiary, Eni remains the country's leading producer, reporting about 242,000 barrels of oil equivalent per day in its share of 2025 hydrocarbon output.Price: $54.26, Change: $-0.96, Percent Change: -1.74%

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Wire

Eni, BP Target Final Investment Decision for Egypt Gas Project in Few Months

Eni (E) said Tuesday it is working with project partners BP (BP) and Egyptian Petroleum to reach a final investment decision in a few months regarding the major gas discovery Denise West in Egypt's Temsah Concession.First gas production from the field, which was discovered in April, is targeted in under two years, Eni said.In a meeting with Egyptian President Abdel Fattah el-Sisi, Chief Executive Officer Claudio Descalzi highlighted Eni's projects in the country, which have resulted in a 50% increase in production from offshore Sinai fields and additional discoveries in offshore Nile Delta and Western Desert, according to a statement.Price: $54.24, Change: $-0.98, Percent Change: -1.78%

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Sectors

Sector Update: Energy Stocks Fall Premarket Tuesday

Energy stocks were falling premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) down 1.4%.The United States Oil Fund (USO) was down 3.3% and the United States Natural Gas Fund (UNG) was 2.2% lower.Front-month US West Texas Intermediate crude oil was 3.3% lower at $82.18 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 3.2% to reach $89.19 per barrel, and natural gas futures were down 2.8% at $2.70 per 1 million British Thermal Units.Equinor (EQNR) plans to boost production outside Norway to 950,000 barrels of oil equivalent per day by 2030, while generating $20 billion of free cash flow from 2026 to 2030, the company's Executive Vice President Philippe Mathieu said. Shares of Equinor were down more than 1% pre-bell.Woodside Energy (WDS) stock was down more than 2% even after the company posted higher H1 earnings and revenue.Halliburton (HAL) won a contract from BP (BP) to support appraisal work at the Bumerangue field offshore Brazil, the company said. Halliburton shares were down more than 1% premarket.

$BP$EQNR$HAL$UNG$USO$WDS$XLE
Equities

Equinor, Var Energi, Aker BP to Collaborate on Norway Gas Exploration

Equinor (EQNR), Eni's (E) Var Energi, and Aker BP said Monday they have agreed to collaborate on oil and gas exploration on the Norwegian continental shelf.The companies said that over the next four to five years, they plan to mature and test 20 to 25 exploration opportunities, aiming to drill around five high-impact exploration wells annually.The parties said they will share risk and combine expertise, data, technology and exploration capacity, targeting selected high-impact exploration opportunities on the Norwegian continental shelf.BP owns a 15.9% stake in Aker BP, while Eni holds 63.04% of Var Energi, according to their respective websites.

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Commodities

Equinor, Aker BP Discover Gas, Condensate in North Sea

Equinor (EQNR), along with its partner Aker BP (BP), discovered recoverable gas and condensate in the Linga prospect in the North Sea, according to a statement from the Norwegian Offshore Directorate on Monday.This will be welcome news for Norway after the directorate which oversees the country's hydrocarbons industry warned last week that production would begin to decline in the 2030s unless there was more investment to discover and develop new resources.The recoverable volume from exploration well 25/7-13 was estimated at between 100,000 standard cubic meters and 2.1 million scm of oil equivalent. This is the third well drilled in production license 782 S, the directorate said.Vertical depth reached 4.6 kilometers below sea level. The thickness of the sandstone layers in the Draupne Formation where hydrocarbons were discovered totaled 13 meters.Following the discovery, Equinor-operated wildcat well 34/10-56 S will be drilled using the same drilling rig, COSL Innovator.

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Commodities

Norway Reportedly Calls on Supreme Court to Overturn Ruling Against Oilfields

The government of Norway will ask its supreme court on Monday to overturn a ruling by a lower court that invalidated exploration permits over a lack of consideration of environmental impacts, according to media reports on Monday.Two courts have backed a case brought by Greenpeace and Young Friends of the Earth first brought in 2023, deeming that Norway had not fully assessed the impact of three oil fields, namely Equinor's (EQNR) Breidablikk, already producing, and Aker and BP (BP) joint venture Aker BP's Tyrving and Yggdrasil fields, not yet online, Reuters reported.Campaigners say the government did not consider the climate impact of burning the oil and gas from the fields, referred to as Scope 3 emissions and that its efforts to do so later were not valid. Production has been allowed to continue while the case continues, Reuters said.Norwegian legal affairs website Rett 24 said the case centers around whether the granting of permits should take into account the impact of the burning of the fossil fuels on the climate, regardless of where this takes place.The supreme court case is expected to last about four days with a verdict to be announced later in the year.has contacted Norway's energy ministry to seek comment and further details on the case.

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Asia Markets

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

European equities traded in the US as American depositary receipts were tracking higher late Thursday morning, rising 0.52% to 1,977.10 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biotech firm Evaxion (EVAX) and biopharmaceutical company Cellectis (CLLS), which climbed 5.6% and 4.1%, respectively. They were followed by oil and gas company Eni (E) and semiconductor company Sequans Communications (SQNS), which advanced 2.3% and 0.6%, respectively.The decliners from continental Europe were led by biotech firm BioNTech (BNTX) and biopharmaceutical company DBV Technologies (DBVT), which lost 4.5% and 3.2%, respectively. They were followed by medical device maker EDAP TMS (FOCL) and internet browser company Opera (OPRA), which were down 2.3% and 2.1%, respectively.The gainers from the UK were led by oil and gas companies BP (BP) and Shell (SHEL), which rose 3.7% and 1.9%, respectively. They were followed by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and lender HSBC (HSBC), which were up 1.4% and 0.9%, respectively.The decliners from the UK and Ireland were led by biopharamceutical firm Mereo BioPharma Group (MREO) and biotech firm Autolus Therapeutics (AUTL), which fell 3.8% and 3.4%, respectively. They were followed by biopharmaceutical company NuCana (NCNA) and software company Endava (DAVA), which were down 3.2% and 1.3%, respectively.

$AUTL$BDRX$BNTX$BP$CLLS$DAVA$DBVT$E$EVAX$FOCL$HSBC$MREO$NCNA$OPRA$SHEL$SQNS
Commodities

Brazilian Gas-Fired Power Plant Unit Offline After Technical Failure

The operation of unit 2 of Brazil's UTE GNA gas-fired power plant has been suspended since Aug. 10 due to a failure in the steam turbine circuit breaker which impacted its step-up transformer, the operator said in a regulatory filing to the markets regulator on Wednesday.The plant's protection systems worked as designed, closing the unit down with no injuries or environmental impact to report, according to the filing which was issued to update debenture holders on the company's operations.Engineers are now assessing the cause of the event at the plant, located at Rio de Janeiro state's Porto de Acu and are planning for the resumption of the unit's operations while the grid operator has been informed of its unavailability.Reuters reported that the plant, with an installed capacity of 1.7 gigawatts, is operated as a joint venture between BP (BP), Siemens Energy and Chinese power utility SPIC.

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Sectors

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Wednesday afternoon, with the NYSE Energy Sector Index rising 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.3%.The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil rose 0.6% to $85.48 a barrel, and the global benchmark Brent crude contract advanced 0.3% to $91.26 a barrel. Henry Hub natural gas futures were steady at $2.78 per 1 million BTU.In sector news, US crude oil stocks, including the Strategic Petroleum Reserve, fell by 900,000 barrels in the week ended Aug. 14, following an increase of 11.3 million barrels in the week earlier. Excluding SPR inventories, commercial crude oil stocks rose by 4.4 million barrels compared with a 17.4-million-barrel gain in the week prior, and above the 200,000-barrel increase expected in a survey compiled by Bloomberg.In corporate news, Sable Offshore (SOC) can continue using an emergency order from the Trump administration as legal authority for the restart of an oil pipeline in Santa Barbara, California, Bloomberg reported Wednesday, citing a court ruling. Sable shares jumped past 18%.BP (BP) has begun trading Venezuelan oil, with a tanker loading about 400,000 barrels of heavy fuel oil supplied by state-owned Petroleos de Venezuela for delivery to Houston, Bloomberg reported. BP shares rose 0.7%.Energy Fuels (UUUU) shares gained 5.8% after it said Wednesday that terbium oxide produced at the White Mesa Mill in Utah has been qualified for commercial use by one of Japan's largest rare earth permanent magnet manufacturers.FLEX LNG (FLNG) shares climbed 3.9% after it reported higher Q2 adjusted net income and revenue.Shell (SHEL) Lubricants and Hyundai Motor have renewed their global partnership for another five years, the companies said Wednesday. Shell shares were up 0.8%.

$BP$FLNG$SHEL$SOC$UUUU
Sectors

Sector Update: Energy Stocks Advance in Afternoon Trading

Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) increasing 0.1%.The Philadelphia Oil Service Sector Index was adding 0.6%, and the Dow Jones US Utilities Index was fractionally lower.In geopolitical news, Iran has considered targeting US military assets in Europe, if President Donald Trump escalates the conflict, the Financial Times reported Wednesday, citing two sources close to the Iranian regime. Iranian forces have assessed potential targets in southeastern Europe, including US military assets in Bulgaria and Cyprus, according to the report. Tehran's forces have separately studied attacking subsea fiber optic cables in the crucial Strait of Hormuz, if there's an escalation in the conflict, the FT reported, citing the insiders.Front-month West Texas Intermediate crude oil rose 2.3% to $86.85 a barrel, and the global benchmark Brent crude contract advanced 1.6% to $92.51 a barrel. Henry Hub natural gas futures added 2.3% to $2.84 per 1 million BTU.In sector news, US crude oil stocks, including the Strategic Petroleum Reserve, fell by 900,000 barrels in the week ended Aug. 14, following an increase of 11.3 million barrels in the week earlier. Excluding SPR inventories, commercial crude oil stocks rose by 4.4 million barrels compared with a 17.4-million-barrel gain in the week prior, and above the 200,000-barrel increase expected in a survey compiled by Bloomberg.In corporate news, BP (BP) has begun trading Venezuelan oil, with a tanker loading about 400,000 barrels of heavy fuel oil supplied by state-owned Petroleos de Venezuela for delivery to Houston, Bloomberg reported. BP shares rose 1.3%.Energy Fuels (UUUU) shares gained 4.5% after it said Wednesday that terbium oxide produced at the White Mesa Mill in Utah has been qualified for commercial use by one of Japan's largest rare earth permanent magnet manufacturers.FLEX LNG (FLNG) shares climbed 3.8% after it reported higher Q2 adjusted net income and revenue.

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Commodities

BP to Slow Central Azeri Output for 11 Days During Maintenance

BP (BP) will carry out planned maintenance on the Central Azeri platform linked to the Azeri-Chirag-Deepwater Gunashli, or ACG, field development project in Azerbaijan over an 11-day period, it said in a statement on Wednesday.The maintenance will begin immediately and reduce, but not suspend, the platform's output, minimizing production impacts, the company said.The East and West Azeri platforms will also be temporarily curtailed during the maintenance works due to the integrated design and operating configuration of the Azeri area facilities, BP said.The works will include flare system upgrades and initiatives to improve reliability and activities to support the delivery of the Central Azeri Gas Expansion project, which will increase gas reinjection capacity and maximize recovery from the wells.Production from other ACG platforms and from the Shah Deniz field and the Sangachal terminal will continue uninterrupted during the maintenance work.Price: $44.08, Change: $+0.67, Percent Change: +1.54%

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