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Eni S.p.A.

Eni S.p.A.

$E
NYSEEnergy

214 stories mentioning Eni S.p.A.Updated 1d ago

Eni's renewable arm Plenitude completed a 330-MW solar project in Spain as energy stocks rose late in the session.

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Equities

Update: Eni Helping Venezuela in Energy Sector Rebuild

(Updates with attribution to Eni throughout.)Eni (E) is working with Venezuelan authorities to help revive the country's energy sector, a company spokesperson said in an email toon Monday."We are working with the Venezuelan counterparties and any other authorities involved to support the revitalization of the country's energy sector," the spokesperson said.The spokesperson said the company was not yet in a position to comment on the next steps and would provide further details once plans are finalized.

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Commodities

Market Chatter: Global Energy Majors Near Venezuela Energy Agreements

Global oil firms are nearing final energy pacts with Venezuela, most involving a shift to oil contracts under a law giving foreign firms more flexibility to expand and operate oilfields and export barrels and proceeds, while others cover new energy and electricity projects, Reuters reported Monday, citing five sources.Firms involved include Chevron (CVX), GE Vernova (GEV), India's Oil and Natural Gas, Italy-based Eni (E) and Colombia's GeoPark (GPRK). Executives were still closing negotiations, and the list of companies set to sign had not yet been finalized, two of the sources reportedly said. The agreements can be signed as early as this week.Chevron's agreements could be significant, with the company seeking to expand in the Orinoco Belt and to acquire acreage in Monagas North, potentially securing diluent supplies for its extra-heavy oil production, the report said. Eni reportedly said it is working with its Venezuelan partners and relevant authorities to help revive the country's energy sector.Chevron, GE Vernova, ONGC, Eni and Geopark 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.)

$CVX$E$GEV$GPRK
Asia Markets

European Equities Traded in the US as American Depositary Receipts Edge Lower in Monday Trading

European equities traded in the US as American depositary receipts opened the week slightly lower late Monday morning, declining 0.12% to 1,952.52 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by pharmaceutical company Ascendis Pharma (ASND) and 3D printer company Materialise (MTLS), which rose 6.6% and 2.8%, respectively. They were followed by petroleum refiner Equinor (EQNR) and oil and gas company Eni (E), which were up 2.7% and 2.6%, respectively.The decliners from continental Europe were led by internet browser company Opera (OPRA) and biotech firm Evaxion (EVAX), which fell 1.9% and 1.7% respectively. They were followed by telecommunications company Nokia (NOK) and accommodations booking site trivago (TRVG), which were down 1.3% and 1.2% respectively.The gainers from the UK were led by biopharmaceutical company Mereo BioPharma Group (MREO) and software firm Endava (DAVA), which advanced 14% and 1.9% respectively. They were followed by oil and gas companies BP (BP) and Shell (SHEL), which increased 1.3% and 0.9% respectively.The decliners from the UK and Ireland were led by biopharmaceutical companies NuCana (NCNA) and Biodexa Pharmaceuticals (BDRX), which dropped 16% and 5.9% respectively. They were followed by biopharmaceutical company Akari Therapeutics (AKTX) and pharmaceutical company Silence Therapeutics (SLN), which increased 3.7% and 2.3% respectively.

$AKTX$ASND$BDRX$BP$DAVA$E$EQNR$EVAX$MREO$MTLS$NCNA$NOK$OPRA$SHEL$SLN$TRVG
Sectors

Sector Update: Energy Stocks Advance Premarket Monday

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.7% higher.The United States Oil Fund (USO) was up 2.7% and the United States Natural Gas Fund (UNG) was less than 1% higher.Front-month US West Texas Intermediate crude oil was 2.5% higher at $85.52 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.5% to $90.26 per barrel, and natural gas futures were up 0.2% at $2.89 per 1 million British Thermal Units.Apollo Global Management (APO) said funds it manages have agreed to sell cooling systems firm Kelvion to SLB (SLB) for $3.4 billion in cash, with SLB assuming approximately $700 million of debt, the companies said. Shares of SLB were up nearly 2% pre-bell.Eni (E) entered Uruguay's offshore sector through an agreement with MIWEN, a wholly owned subsidiary of YPF, and ANCAP to join the OFF-5 exploration block, following regulatory approval, the company said. Eni shares were up more than 2% premarket.Oneok (OKE) stock was up more than 1% after the company said it has agreed to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing facilities for about $4.43 billion.

$APO$E$OKE$SLB$UNG$USO$XLE
Commodities

Italy's Eni Steps Up S. America Presence With Uruguay Deal, Venezuela Plans

Italy's Eni (E) and Argentina's YPF have signed a deal with the Uruguayan National Oil Company ANCAP for entry in the OFF-5 offshore exploration block, after it gained approval from Uruguayan authorities, Eni said in a statement on Saturday.Eni holds a 50% stake in the block and holds a 50% stake in it while partner Miwen holds the other half. Study of the block is at an early stage, the statement said.The Italian company said its entry into Uruguay strengthens collaboration with Argentinian peer YPF. The companies are also partnering on the integrated upstream-midstream Argentina LNG project.Adding to its Uruguayan presence, Eni recently agreed to acquire a 40% stake in the neighboring OFF-6 block, operated by APA Corporation.Eni is also stepping up activity in Venezuela amid that country's efforts to revive its energy sector, Bloomberg reported on Saturday.This comes amid a new US-Venezuela deal reached last week, which Venezuelan acting president, Delcy Rodriguez, said has a 25-year duration and will bring Venezuela $19 for every barrel extracted, based on a hypothetical $65 oil price earlier.In a declaration on Saturday, Rodriguez named Eni as one of the companies that will play a part in the revival of the country's oil sector which has seen output steadily fall due to political and economic instability, despite the country sitting atop the world's largest oil reserves.Bloomberg said Eni has been negotiating new contracts for the Junin-5 and Corocoro oil projects and that it had recently agreed on a deal for gas exports from the Perla field.Eni CEO Claudio Descalzi said the company's assets in Venezuela hold more than 5.5 million barrels of recoverable oil, the article said.Eni's press office did not immediately reply to' request for comment.

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Commodities

Venezuela to Earn $209 Billion From Oil Deal With US Over 25 Years

An oil production deal between Venezuela and the US that could revive the South American country's languishing energy sector, has a duration of 25 years, said Acting President Delcy Rodriguez, in an address posted on YouTube channel FirstPost.Reuters reported that the declaration was made on Saturday.Venezuela would earn about $209.3 billion from the deal with the US or about $19 per barrel extracted, based on an illustrative price of $65 per barrel, Rodriguez said.The deal with the US will add oil production of more than 1.5 million barrels per day, while the country will produce more through separate deals with producers including Chevron (CVX), Eni (E), Shell (SHEL) and BP (BP), she said."We want to be an energy power. Big producer of oil, important gas exporter and to have a big development of petrochemicals nationally," Rodriguez said.US President Donald Trump announced the deal on Friday, offering few details other than confirming the US had secured control over more than 65 billion barrels of Venezuelan proven reserves in a partnership with the private sector, Reuters said.Despite having the world's largest proven oil reserves, the country's output has declined amid political and economic instability that has stifled investment, to about 1.25 million bpd.Reuters reported that crowds of pro-government groups gathered in the capital Caracas on Saturday to protest the presence of the US in Venezuela, while other media reported that the deal has drawn ire on all sides of the political divide.Rodriguez stressed in her declaration that Venezuela retains sovereign control and ownership over the resources.

$BP$CVX$E$SHEL
Equities

Eni Enters Uruguay Offshore Sector With OFF-5 Block Agreement

Eni (E) entered Uruguay's offshore sector through an agreement with MIWEN, a wholly owned subsidiary of YPF, and ANCAP to join the OFF-5 exploration block, following regulatory approval, the company said Saturday.The company will operate the block with a 50% interest alongside MIWEN, which holds the remaining 50%, with studies underway to assess its hydrocarbon potential.Separately, Eni recently agreed to acquire a 40% interest in the adjacent OFF-6 block, which is operated by APA (APA), it added.Eni shares were up 2% in Monday premarket activity.

$APA$E
Equities

Market Chatter: Eni Helping Venezuela in Energy Sector Rebuild

Eni (E) is working with Venezuelan authorities to help revive the country's energy sector, Bloomberg reported Saturday, citing a company statement.The company said it was working with Venezuelan companies and authorities to support the rebuilding of the country's energy sector, the report said.Eni said it was not yet in a position to comment on the next steps and would provide further details once plans are finalized, according to the report.Eni 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.)

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Equities

Correction: Eni Signs Deal to Revive Venezuela Oil Activities

(Corrects date to April 28 in the first paragraph.)Eni (E) signed a programmatic agreement with Venezuela's Ministry of Hydrocarbons and state-owned energy company PDVSA to relaunch oil activities, the company said on April 28.Financial terms were not disclosed.The deal focuses on the Junin-5 joint venture, a heavy oil field containing 35 billion barrels of oil, which is 60% owned by PDVSA and 40% by Eni, the company said.Eni is also involved in the development of Venezuelan natural gas projects as operator of the Perla field, which is described as the largest offshore gas field in Latin America, through Cardon IV joint venture jointly owned by Eni and Repsol, and its 26% stake in the PetroSucre joint venture with PDVSA, the company said.

$E
Equities

Eni Signs Deal to Revive Venezuela Oil Activities

Eni (E) signed a programmatic agreement with Venezuela's Ministry of Hydrocarbons and state-owned energy company PDVSA to relaunch oil activities, the company said Friday.Financial terms were not disclosed.The deal focuses on the Junin-5 joint venture, a heavy oil field containing 35 billion barrels of oil, which is 60% owned by PDVSA and 40% by Eni, the company said.Eni is also involved in the development of Venezuelan natural gas projects as operator of the Perla field, which is described as the largest offshore gas field in Latin America, through Cardon IV joint venture jointly owned by Eni and Repsol, and its 26% stake in the PetroSucre joint venture with PDVSA, the company said.

$E
Commodities

Update: Market Chatter: Shell-Unimot Talks on Russia-Linked Refinery Collapse

(Updated with Shell comment in the fourth paragraph).Shell (SHEL) has ended years of talks with Poland's Unimot over the sale of its stake in Germany's Russia-linked Schwedt refinery, Bloomberg reported on Thursday, citing industry sources.The discussions ended several months ago, marking the latest setback in efforts to resolve the ownership of the strategic refinery, which has been caught in limbo since Germany's energy ties with Moscow deteriorated in 2022.Shell and Unimot were in advanced negotiations as recently as February, when the German government disclosed that the companies were discussing a potential transaction. Italy's Eni (E), which also holds a minority stake in PCK, has been exploring options to sell its interest.Shell owns a 37.5% stake in PCK Raffinerie, the operator of the Schwedt refinery, while Russia's Rosneft remains the majority shareholder. Shell declined to comment in response to' request.(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: $90.77, Change: $-0.34, Percent Change: -0.38%

$E$SHEL
Commodities

Market Chatter: Shell-Unimot Talks on Russia-Linked Refinery Collapse

Shell (SHEL) has ended years of talks with Poland's Unimot over the sale of its stake in Germany's Russia-linked Schwedt refinery, Bloomberg reported on Thursday, citing industry sources.The discussions ended several months ago, marking the latest setback in efforts to resolve the ownership of the strategic refinery, which has been caught in limbo since Germany's energy ties with Moscow deteriorated in 2022.Shell and Unimot were in advanced negotiations as recently as February, when the German government disclosed that the companies were discussing a potential transaction. Italy's Eni (E), which also holds a minority stake in PCK, has been exploring options to sell its interest.Shell owns a 37.5% stake in PCK Raffinerie, the operator of the Schwedt refinery, while Russia's Rosneft remains the majority shareholder. Shell 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.)Price: $90.96, Change: $-0.16, Percent Change: -0.17%

$E$SHEL
Oil & Energy

Market Chatter: Energean Eyes Part of BP's Egypt Oil, Gas Portfolio in Deal Worth About $1 Billion

Energean is holding exclusive talks to buy part of BP's (BP) upstream oil and gas portfolio in Egypt in a deal that could generate about $1 billion for BP, Reuters reported Thursday, citing two people involved in the process.The proposed transaction spans BP's West Nile Delta interests, held jointly with Harbour Energy, plus a 50% contractor working interest in the Temsah concession. Eni (E), a Temsah co-owner, said the Denise West well uncovered an estimated 2 trillion cubic feet of gas, with partners and Egypt targeting a final investment decision in the coming months.BP would keep its Egyptian holdings in the Arcius joint venture with UAE-based XRG, including the Zohr gas field, as it works to cut debt and simplify its portfolio, the sources said. Energean has signaled that it seeks to expand beyond its gas fields off Israel, which were shut down amid regional conflicts.BP and Energean 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: $42.15, Change: $-0.35, Percent Change: -0.82%

$BP$E
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
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%

$BP$E
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%

$BP$E
Asia Markets

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

European equities traded in the US as American depositary receipts were marginally higher late Tuesday morning, rising 0.1% to 1,982.02 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biotechnology companies Cellectis (CLLS) and DBV Technologies (DBVT), which advanced 6% and 5% respectively. They were followed by medical device maker EDAP TMS (FOCL) and accommodations booking site trivago (TRVG), which increased 3.8% and 1% respectively.The decliners from continental Europe were led by lender Banco Bilbao Vizcaya Argentaria (BBVA) and oil and gas company Eni (E), which fell 1.8% and 1.7% respectively. They were followed by oil and gas company Equinor (EQNR) and consumer goods company Unilever (UL), which were down 1.5% and 0.7% respectively.The gainers from the UK were led by biopharmaceutical companies Biodexa Pharmaceuticals (BDRX) and Akari Therapeutics (AKTX), which climbed 14.2% and 7.2% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and software firm Endava (DAVA), which were up 4.9% and 1.3% respectively.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and alcoholic beverage company Diageo (DEO), which dropped 5.7% and 1.6% respectively. They were followed by communications group WPP (WPP) and medical device maker Smith & Nephew (SNN), which lost 1.4% and 1.2% respectively.

$AKTX$BBVA$BDRX$CLLS$DAVA$DBVT$DEO$E$EQNR$FOCL$SLN$SNN$TRIB$TRVG$UL$WPP
Sectors

Sector Update: Energy Stocks Decline Monday Afternoon

Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each falling 1.2%.The Philadelphia Oil Service Sector Index dropped 2.6%, and the Dow Jones US Utilities Index was up 0.9%.Front-month West Texas Intermediate crude oil fell 2% to $85.31 a barrel, and the global benchmark Brent crude contract declined 1.8% to $92.68 a barrel. Henry Hub natural gas futures increased 0.1% to $2.78 per 1 million BTU.In corporate news, ExxonMobil (XOM) plans to expand automated drilling technology to half of its Permian Basin rig fleet by 2028 as it seeks to improve efficiency and increase oil production, Reuters reported Monday, citing an executive. The oil giant currently operates two automated rigs in the Permian and plans to raise that share to 25% next year, using robotics to reduce workers' exposure to high-risk areas and accelerate drilling, the report said, citing Bart Cahir, Exxon's senior vice president of unconventionals. Exxon shares were down 1.4%.Shell (SHEL) has drawn interest from potential bidders including ExxonMobil, LyondellBasell (LYB) and Apollo Global Management (APO) for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported. Shell shares decreased 0.5%.Eni (E) is expanding its investment in nuclear fusion, targeting a commercial fusion plant in Europe by the early 2040s or sooner, the Financial Times reported. Eni shares were down 2.2%.TotalEnergies (TTE) will invest in the Fujairah oil export pipeline expansion in Abu Dhabi and continue investing in the Middle East despite ongoing conflict in the region, Reuters reported Monday, citing CEO Patrick Pouyanne at the ONS energy conference in Norway. TotalEnergies shares were shedding 0.8%.

$E$SHEL$TTE$XOM
Sectors

Sector Update: Energy Stocks Decline Premarket Monday

Energy stocks were declining premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 1.3% and the United States Natural Gas Fund (UNG) was 3.3% higher.Front-month US West Texas Intermediate crude oil was 1.8% lower at $85.51 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.3% to reach $93.17 per barrel, and natural gas futures were up 2.2% at $2.83 per 1 million British Thermal Units.TotalEnergies (TTE) will invest in the Fujairah oil export pipeline expansion in Abu Dhabi and continue investing in the Middle East despite ongoing conflict in the region, Reuters reported, citing Chief Executive Patrick Pouyanne at the ONS energy conference in Norway. TotalEnergies shares were down more than 1% pre-bell.Eni (E) is expanding its investment in nuclear fusion, targeting a commercial fusion plant in Europe by the early 2040s or sooner, Financial Times reported. Shares of Eni were down more than 1% premarket.Equinor (EQNR) and Uniper signed a 15-year agreement under which Equinor will supply more than 2.8 billion cubic meters of natural gas annually to Germany, the companies said. Equinor stock was 0.8% lower premarket.

$E$EQNR$TTE$UNG$USO$XLE

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