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City Cement Co. Flags Increase in Production Costs After Saudi Aramco's Fuel Price Adjustment

City Cement Co. (SASE:3003) expects the fuel price adjustment disclosed by Saudi Arabian Oil Co., d/b/a Saudi Aramco, in January to result in a 2.32% increase in its production costs.The cement products manufacturer said Tuesday that it has incorporated the estimated increase in its first-quarter results. It added that its participation in Saudi Arabia's Industrial Sector Competitiveness Program helped soften the price adjustment's financial impact.In January, the state-owned oil giant notified City Cement about the changes in prices of fuel products used in the latter's production activities.

SASE:3003

Equities4h ago

CICC Kicks Off TotalEnergies Coverage with Outperform Rating

CICC on Monday started the coverage of French energy group TotalEnergies (TTE.PA, TTE.L) with an outperform rating and a price target of 90 euros.(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://www..com/contact-us)

$TTE.L$TTE.PA

Equities4h ago

BSF Capital Raises Luberef PT, Keeps Hold Rating

BSF Capital on Monday raised its rating for base oil producer Saudi Aramco Base Oil Co (SASE:2223), d/b/a Luberef, to 124 Saudi riyals from 115 riyals, with an unchanged hold rating.(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://www..com/contact-us)

SASE:2223

Equities4h ago

BofA Securities Adjusts Price Target on Kosmos Energy to $1.46 From $1.40

Kosmos Energy (KOS) has an average rating of overweight and mean price target of $3.30, 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://www..com/contact-us)

$KOS

Equities4h ago

Phillips 66 Partners With Kanin Energy on Waste Heat-to-Power Project

Phillips 66 (PSX) has partnered with Kanin Energy on a 7-megawatt waste heat-to-power project at its Mewbourn natural gas processing complex in Platteville, Colorado, Kanin Energy said Tuesday.The project will capture waste heat from gas compression turbines and convert it into onsite baseload power, improving reliability while reducing emissions and energy costs, the company said.Under the agreement, Kanin Energy will develop, own and operate the facility, delivering a turnkey solution to Phillips 66 with no upfront capital investment.The project is expected to begin construction later this year and lower long-term power costs and reduce greenhouse gas emissions, it added.

$PSX

Equities5h ago

Sky Quarry Nears Start of Nevada Refinery Operations, Targets July Launch

Sky Quarry (SKYQ) said that it is nearing the start of operations at its Foreland Refinery in Ely, Nevada, marking a transition from infrastructure development to production and cash-flow generation.Interim CEO Marcus Laun said Monday the facility is in the final stages of preparation and is expected to begin refinery operations in July. He added that recent upgrades include storage capacity of more than 100,000 barrels and around 10,000 barrels of crude and in-process inventory already on site.Sky Quarry said it aims to benefit from refining margins rather than crude price movements alone as operations scale.Sky Quarry shares were down by more than 11% during Tuesday's premarket session.

$SKYQ

Equities5h ago

Energy Fuels to Acquire Vacuumschmelze, Associated Firms From Ara Partners for $1.9 Billion

Energy Fuels (UUUU) has agreed to acquire Germany's Vaccumschmelze and associated business and subsidiaries from Ara Partners for $1.9 billion in cash and stock, the company said Tuesday.The deal consists of $718 million in cash and 65.9 million newly issued Energy Fuels shares, the company said.Vacuumschmelze is a magnetics company which also operates a facility in South Carolina, with capacity to produce 2,000 metric tons of permanent magnets per year, the company said.Following completion of the deal, Vacuumschmelze will become a wholly owned subsidiary of Energy Fuels while retaining its branding and German headquarters, the company said.The deal is expected to be accretive to Energy Fuels' earnings and cash flow, the company said.

$UUUU

Equities6h ago

OGDCL Kicks Off Gas Production at Sahito-1 Well in Pakistan

Oil & Gas Development (OGDC.L), d/b/a OGDCL, started production from the Sahito-1 well within the Khewari exploration license in Pakistan.The well produces 6 million standard cubic feet per day of gas and is expected to be ramped up as surface facilities are expanded, according to a Tuesday filing.The Pakistani state-owned energy exploration company, which operates the well and holds a 75% stake, disclosed the gas discovery in March.

$OGDC.L

Equities6h ago

Energy Fuels to Acquire Germany's Vacuumschmelze From Ara Partners for $1.9 billion in Cash, Stock

$UUUU

Equities6h ago

Market Chatter: BP, Marathon, Walmart Sued for Alleged AI Gas Price Fixing

BP (BP), Marathon Petroleum (MPC), and Walmart (WMT) were sued, among others, by California drivers for allegedly using artificial intelligence to inflate fuel prices, Reuters reported Tuesday, citing a proposed class action lawsuit.The lawsuit claims the gas station operators violated state antitrust and algorithmic price-fixing laws by using a software tool from Kalibrate to coordinate the higher pricing, Reuters said.Drivers alleged that fuel costs increased by up to $0.30 per gallon in regions where a high percentage of stations adopted the technology, according to the report.BP, Marathon Petroleum, Walmart, and Kalibrate did not immediately respond to' requests 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.)

$BP$MPC$WMT

Equities6h ago

JPMorgan Adjusts Price Target on EQT to $68 From $72, Maintains Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $70.32, 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://www..com/contact-us)

$EQT

Equities8h ago

Western Midstream Partners Prices $700 Million Notes Offering

Western Midstream Partners (WES) has priced an offering of $700 million of 5.7% senior notes due 2036 at 99.705% of face value, the midstream energy company said late Monday.Closing is expected to occur on June 25.Net proceeds will be used to repay debt under a revolving credit facility and a commercial paper program, and for general business purposes, the company said.

$WES

Equities11h ago

Dana Gas Outlines Gas Resources Estimate in Egypt; Secures Outstanding Receivables

Dana Gas (ADX:DANA) said Tuesday its recent drilling in Egypt outlined an estimate of 10 billion cubic feet of gas resources in the latest well, up from an initial projection of 3 billion cubic feet.The license area can potentially add 12 billion cubic feet of future gas resources once developed. The Abu Dhabi-listed natural gas company plans to drill four more wells before the end of 2026.Additionally, Dana Gas said it received 79 million Emirati dirhams of additional payments as settlement of all outstanding receivables in Egypt.

ADX:DANA

Equities12h ago

BP Among Companies Sued in US for Using AI to Boost Fuel Prices

British energy giant BP (BP.L) is among the group of companies sued in California, US, for allegedly using artificial intelligence to drive up fuel prices, according to a Monday filing.The proposed class action alleges that the companies, which also include retail chains and other fuel retailers, used AI-based tools from algorithmic pricing company Knowledge Support Systems d/b/a Kalibrate, which uses data from competing gas stations to drive up prices. The action violates a California law that seeks to prevent algorithmic price fixing.BP did not immediately respond to' request for comment.

$BP.L

Equities13h ago

Sinopec Trims China Merchants Energy Shipping Stake to 12.57%

China Merchants Energy Shipping (SHA:601872) said China Petroleum & Chemical Corp. (SHA:600028, HKG:0386), or Sinopec, trimmed its stake in the company to 12.57% from 13.57%.Sinopec sold 80.7 million shares for about 1.45 billion yuan, according to a Tuesday filing with the Shanghai bourse.

SHA:601872

Equities19h ago

Kimbell Royalty Partners Closes $145.9 Million Mesa Royalties Deal

Kimbell Royalty Partners (KRP) closed its acquisition of mineral and royalty interests from Mesa Royalties for $145.9 million in units and cash.The deal was funded with 6.9 million newly issued common units valued at $101.9 million and $44 million in cash, Kimbell said Monday in a statement.The assets span 16 Permian Basin counties and are expected to produce 1,390 barrels of oil equivalent per day over the next 12 months, Kimbell said.

$KRP

Equities19h ago

TechnipFMC Receives Flexible Pipe Contract for Azule Energy's Angola Project

TechnipFMC (FTI) has secured a contract to supply flexible pipe for Azule Energy's Greater PAJ offshore development in Angola, the company said Monday.The company said it will make flexible flowlines and risers to connect wells at depths of nearly 2,000 meters to a new floating production facility.The contract value could range between $75 million and $250 million, according to a statement.

$FTI

Equities21h ago

Matador Resources Shares Rise After Roth Capital Upgrade

Matador Resources (MTDR) shares rose 1.7% in Monday trading after Roth Capital Partners upgraded the stock to buy from neutral.Intraday volume topped 1.09 million shares, compared with the daily average of about 1.75 million.Price: $50.40, Change: $+0.84, Percent Change: +1.69%

$MTDR

Equities1d ago

Market Chatter: BP, Eni's Azule Energy Green-lights New Angolan Offshore Oil Project

BP (BP.L) and Eni's (ENI.MI) joint venture Azule Energy took a final investment decision on its Greater Palas, Astraea, Juno, or PAJ, offshore oil project in Angola's Lower Congo Basin, Reuters reported Monday, citing company and government officials.The energy company will utilize a new floating production, storage, and offloading vessel for the deepwater Greater PAJ development, according to the report.Azule Energy 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.)

$BP.L$ENI.MI$EQNR.OL

Equities1d ago

EU Commission Sets Deadline for Decision on Baker Hughes-Chart Industries Deal

The European Commission set a July 10 deadline for its decision on Baker Hughes' planned acquisition of ⁠industrial equipment maker Chart Industries.The deadline comes as the oilfield services company proposed remedies to address the commission's concerns, Reuters reported Monday. The $13.6 billion deal was announced by both companies in July 2025.The European Commission and Baker Hughes did not immediately respond to' requests for comment.

^SXXP

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