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Stifel Nicolaus Initiates Coverage on Sable Offshore With Buy Rating, $8 Price Target

Sable Offshore (SOC) has an average rating of Buy and mean price target of $9.40, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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BofA: Adnoc Logistics & Services to See Robust Q3 Earnings Amid 'Exceptionally Strong' Tanker Rates

BofA Global Research expects Adnoc Logistics & Services (ADX:ADNOCLS) to deliver a robust earnings performance in the third quarter of 2026, supported by "exceptionally strong" tanker rates for vessels passing through the Strait of Hormuz."We continue to view management's revised guidance following the 2Q26 results as conservative and forecast 102% EBITDA growth and 185% net income growth in 2026E, well ahead of guidance for mid-60% EBITDA growth and high-110% net income growth. Our estimates are based on average shipping rates achieved so far in 3Q26, alongside a normalization of Integrated Logistics operations by 4Q26," analysts said in a MENA Oil and Gas & Utilities report published Wednesday. "While we assume tanker rates normalize from late 4Q26 and return to historical levels in 2027, any prolonged geopolitical disruption would provide further upside to earnings."The research firm also views Adnoc Logistics as likely to upgrade its medium-term guidance, bolstered by its fleet expansion efforts and growing exposure to contracted liquefied natural gas and gas shipping.The buy rating on the stock was reiterated, with a price objective of 8.6 Emirati dirhams. BofA noted that the company is among its top picks in the sector heading into the fourth quarter.

ADX:ADNOCLS

TotalEnergies, Partners Plan to Invest $10 Billion in Angola Oil Sector

TotalEnergies (TTE.PA, TTE.L) Chief Executive Patrick Pouyanné said the French energy company, together with its partners, plans to inject $10 billion into the Angolan oil sector during the next five years, Bloomberg News reported Thursday.Pouyanné said the investments are required to maintain existing developments and for new exploration, the report noted.In a same-day statement, the company said it made a new oil discovery at the Acacia-5 prospect on Block 17 offshore Angola.TotalEnergies also agreed to acquire a 40% operated interest in exploration Blocks 17/25 and 32/21 in the Lower Congo Basin.

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BofA Updates Adnoc Drilling Price Objective, Estimates Amid UAE's Planned Oil Production Boost

BofA Global Research revised its price objective and estimates for Adnoc Drilling (ADX:ADNOCDRILL) amid the United Arab Emirates' plans to increase its oil production capacity following its exit from the Organization of the Petroleum Exporting Countries and OPEC+."Amid the recent increase in activity across the UAE energy sector, ADNOC Drilling stands out as the only company providing drilling services to ADNOC across both onshore and offshore oil and gas development. Beyond its growth profile, the company offers a high degree of earnings resilience through its long-term, IRR-linked, take-or-pay contracts with ADNOC, a strength that has been demonstrated during periods of regional conflict and uncertainty," the research firm said in a MENA Oil and Gas & Utilities report published Wednesday."We see three key near-term catalysts for the stock: (1) Final Investment Decision (FID) on the second phase of ADNOC's unconventional resource development, (2) the addition of new rigs to support ADNOC's production increase, and (3) potential dividend increases driven by growing free cash flow generation."The price objective was raised to 7.2 Emirati dirhams from 6.9 dirhams, while the stock's buy rating was retained.Meanwhile, the EBITDA estimate for 2026 was lifted by 2.4%, while that for 2027 was reduced by 2.2%, as analysts took into account Adnoc Drilling's second-quarter 2026 results and management's updated expectations for 2027.

ADX:ADNOCDRILL

TotalEnergies, Partners to Reportedly Invest $10 Billion in Angola Over 5 Years

TotalEnergies (TTE) and its partners plan to invest $10 billion in Angola over the next five years to increase oil output in the country, news outlets reported as early as Wednesday, citing remarks made by TotalEnergies Chief Executive Patrick Pouyanne at a conference.Bloomberg further cited the CEO as saying the investments will be used for exploration and existing developments.Pouyanne said TotalEnergies currently produces about 450,000 barrels of oil per day in Angola and that the country aims to maintain oil production of about 1 million barrels a day, according to the reports.TotalEnergies did not immediately respond to' request for a comment.

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China Suntien Green Energy Power's Output Declines Over 7% in August

China Suntien Green Energy (HKG:0956, SHA:600956) power output declined 7.5% year over year to 725,796.96 megawatt-hours in August, according to a Thursday Hong Kong bourse filing.The natural gas and wind power generation company's transmission/sales volume of gas fell nearly 22% to 213.8 million cubic meters.For the eight months ended Aug. 31, power generation slipped nearly 1% to 9.8 million megawatt-hours.

HKG:0956SHA:600956

BofA: Adnoc Gas Poised to Gain from Higher Oil, Gas Prices; EBITDA Estimates Up

BofA Global Research is optimistic on Adnoc Gas' (ADX:ADNOCGAS) long-term growth story amid expectations of higher oil and gas prices over the near term, according to its MENA Oil and Gas & Utilities report published Wednesday."ADNOC Gas stands to benefit from a stronger commodity backdrop, with our commodities team raising its Brent assumptions to US$83/bbl for 2026 (fromUS$76/bbl) and US$75/bbl for 2027 (from US$70/bbl previously)," analysts wrote. "Spot LNG prices have also moved higher and, with around 20% of LNG volumes exposed to spot markets, ADNOC Gas offers additional leverage to improving gas fundamentals. We estimate that a US$5/bbl change in oil prices impacts EBITDA by c.4.6%, assuming a corresponding move in LPG and LNG prices."The research firm increased its 2026 and 2027 EBITDA forecasts by 3% and 10.1%, respectively, as it took into account the company's results for the second quarter of 2026, higher oil price assumptions for 2027, and management's updated guidance on volumes and margins."The company is also supported by an attractive 5.5% dividend yield. Despite elevated capex and ongoing shipping disruptions, we see no risk to dividend sustainability, with operating cash flow expected to comfortably fund distributions. Higher oil prices and stronger volumes through the remainder of 2026 should support a meaningful recovery in earnings," BofA added.The buy rating on the stock was maintained, with a price objective 4.1 Emirati dirhams.

ADX:ADNOCGAS

Geo Exploration Raises GBP1 Million Via Share Placing

Geo Exploration (GEO.L) said Thursday it raised 1 million pounds sterling through a placing of 1.73 billion shares.The mineral and hydrocarbon exploration company also launched a retail offer of new ordinary shares to raise an additional 250,000 pounds until Sept. 14. The placing and retail offer shares are expected to begin trading on the London bourse on Sept. 21.Geo Exploration said it will use the proceeds to advance exploration and drilling at its Gorge project in Western Australia. The funds will also be used for further exploration at the Juno and PEL 94 licenses in Western Australia and Namibia, as well as to cover operational and corporate costs.

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Empyrean Energy Says Conrad Completes Farm-down of Duyung PSC Stake

Empyrean Energy (EME.L) said Thursday that Conrad Asia Energy and its unit West Natuna Exploration Ltd., or WNEL, completed the farm-down of a 75% non-operated participating interest in Duyung PSC to PT Nations Natuna Barat, or NNB.NNB paid $4 million, the second tranche of the transaction's $16 million cash consideration, with the remaining $7 million payable upon commencement of commercial production.Empyrean, Conrad and WNEL executed a shareholders' agreement in February governing Empyrean's participation in the Mako gas development through WNEL Holdings, a special-purpose vehicle. Under the agreement, Empyrean is entitled to 8.5% of all cash payments to WNEL, including revenue from Mako gas sales.Once the remaining steps of a settlement agreement are completed, including the issuance of an 8.5% equity interest in WNEL Holdings to Empyrean, Conrad will hold a 22.875% operated participating interest in Duyung PSC through its stake in WNEL.

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Corcel Unit Secures Government Approval to Boost Stake in Angolan Block

Corcel (CRCL.L) subsidiary Atlas Petroleum Exploration Worldwide, or Apex, secured approval from the Angolan government to acquire an additional 30% participating interest in Block KON-16 in the Kwanza Basin in Angola.Apex is purchasing the interest from Intank Global DMCC for $500,000 in cash, the Africa- and Latin America-focused energy company said Thursday.The transaction raises Apex's interest in the KON-16 block to 85% from 55% and supports the consolidation of its operated and controlling position in the asset.

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United Oil & Gas Secures Contractor for Walton-Morant License Study in Jamaica

United Oil & Gas (UOG.L) appointed well engineering and project management services company NRG Well Management to conduct a drilling rig and long-lead availability study at its Walton-Morant license, offshore Jamaica.The London-listed oil and gas company said Thursday that NRG will work with international rig contractors and supply chain vendors to review rig availability, market day rates, and procurement schedules to advance the site towards potential drilling.

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UK Oil & Gas Rebrands to UK Energy Group

UK Oil & Gas (UKOG.L) said Thursday it is changing its name to UK Energy Group, with effect from Friday.The company said the rebranding is in line with its exit from the UK onshore oil and gas sector and the shift of its strategy to geological energy storage and related clean power.In line with the name change, the ticker symbol for the company's trading on the London Stock Exchange will also be changed to UKEN from UKOG.

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Rift Helium Begins 3D Seismic Program Mobilization at Upepo Project in Tanzania

Rift Helium (RIFT.L) commenced the mobilization of its fully funded 3D seismic program at the Upepo project in Tanzania's Rukwa Basin, according to a Thursday release.The helium exploration company added that field acquisition is scheduled to begin in the fourth quarter of 2026, with the resulting data to support an independent resource assessment targeted for the first quarter of 2027 and finalization of locations for a two-well exploration program planned for the first half of 2027.

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Corcel Signs Definitive Deal to Sell 5% Stake in Angolan Block to Sintana

Corcel (CRCL.L) executed a definitive share purchase agreement with Sintana Energy (SEI.L) to sell an indirect 5% participating interest in its operated Block KON-16 project in Angola for $2.5 million.The energy company will grant Sintana a net profit interest in KON-16 under which the oil and gas company will receive 2.5% of its net proceeds after first oil, according to a Thursday release. Once total payments reach $50 million, the net profit interest will drop to 1.5%Sintana paid $500,000 when the companies signed binding heads of terms in May 2025 and will pay the rest in cash at completion, which is expected imminently.

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Ignitis Grupe Commits to Buying LNG from US Production Company EQT Under Long-term Deal

AB Ignitis Grupe (IGN.L, IGN1L.VS) said Thursday it committed to buying 10 cargoes of liquefied natural gas annually under a long-term purchase deal with US integrated natural gas production company EQT Corp.The deal covers 2027 through 2036, with the supply to be distributed to residential natural gas consumers in Lithuania.Completion of the agreement is subject to review by the Commission for the Coordination of the Protection of Objects Important to National Security in Lithuania and corporate bodies governing the seller, the listed renewables-focused utility company noted.

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