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Morgan Stanley Adjusts Price Target on Exxon Mobil to $171 From $172, Maintains Overweight Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $165.35, 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)

$XOM

Equities102d ago

Morgan Stanley Adjusts Marathon Petroleum Price Target to $233 From $200, Maintains Overweight Rating

Marathon Petroleum (MPC) has an average rating of overweight and mean price target of $253.25, 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)

$MPC

Equities102d ago

Capital One Adjusts Price Target on EQT to $68 From $64, Maintains Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $70.91, 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)

$EQT

Equities102d ago

Active Energy Plans UAE Pilot Deployment Under Bitdeer Partnership

Active Energy Group (AEG.L) said Tuesday it agreed in principle to use its 8MVA site in the UAE as an initial pilot deployment under a proposed partnership with Bitdeer Technologies Group, subject to a final agreement.The UK-listed renewable energy company's site, which is nearing energization, will be used to evaluate the technical, commercial and operational aspects of the model ahead of any broader rollout.Active Energy added it is carrying out configuration and optimization work to align the asset with the proposed partnership.

$AEG.L

Equities102d ago

RBC Expects Higher Targets, Share Buyback Boost in Galp Energia's Q2 Update; Outperform Rating Maintained

RBC Capital Markets expects Galp Energia (GALP.LS) to raise its profit targets and share buybacks, with the announcement expected around July when it publishes its second-quarter results."Galp looks set to benefit across its businesses from the current environment, with oil production ramping into higher prices, refining margins benefiting from a tight oil products market and its midstream segment supported by wider HH-TTF spreads. We maintain our Outperform rating and EUR22 Price Target," according to a Monday note.Within this context, the research firm sees scope for the Portuguese energy company to double its buyback program to 500 million euros, based on the Brent forecast of $91 per barrel.As part of a model update, analysts also made minor tweaks to their EBITDA and EPS forecasts for full-year 2026 through 2028 following the publication of Galp Energia's first-quarter 2026 update.

$GALP.LS

Equities102d ago

Petrobras Agrees to Acquire Stake in Offshore Campos Basin Oil Field

Petrobras (PBR) said Monday it has agreed to acquire 100% of a portion of the Argonauta Field in the Campos Basin, which is currently owned by Shell (SHEL), ONGC, and Brava, for 700 million Brazilian reals ($140.1 million) and $150 million in cash.Under the deal, the payment will be made in three installments, with 100 million reals upon closing; 600 million reals on Jan. 15 or at closing, whichever occurs later; and a final installment of $150 million two years after closing, the company said.The portion acquired includes an area of the offshore Argonauta oil field that holds 0.86% of the shared pre-salt Jubarte, the company said.Upon completion of the transaction, Petrobras will hold a 98.1% interest in Jubarte while the Brazilian government will maintain a 1.9% stake, the company said.

$PBR$SHEL

Equities102d ago

Market Chatter: Chevron in Final Talks to Sell Asian Assets to Eneos

Chevron (CVX) is in advanced talks to sell a portfolio of Asian assets to Eneos in a deal that could be valued at more than $2 billion, Bloomberg News reported Tuesday, citing sources familiar with the matter.The assets include refineries and fuel retail networks across Singapore, Malaysia, the Philippines and Australia, the unnamed sources told the news outlet.The companies are aiming to reach an agreement as early as the ongoing quarter, according to the report.Eneos has emerged as the last remaining bidder, ahead of rivals such as Glencore and Vitol, Bloomberg reported.Chevron and Eneos didn't 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.)

$CVX

Equities102d ago

Market Chatter: Adnoc Said to Shift Some Crude Loadings to Offshore Fujairah

Abu Dhabi National Oil Co., or Adnoc, is offering some term customers crude cargoes, including Upper Zakum, for pickup through ship-to-ship transfer offshore Fujairah, United Arab Emirates.Bloomberg News wrote Tuesday, citing unnamed traders, that Upper Zakum, a grade that typically loads from Zirku Island within the Persian Gulf, alongside other cargoes, will be mainly available for loading in May. The move comes as producers explore alternative routes to bring oil to market.The state-owned oil group 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.)

^DFMGI^FADGI

Equities102d ago

Market Chatter: Eni, Repsol Seek to Increase Venezuela Gas Production

Eni (E) and Repsol seek to increase production at their jointly Cardon IV gas field in Venezuela to 645 million cubic feet per day, Reuters reported Monday, citing comments by the project manager at a conference.Gonzalo Antonio Carrillos said the field currently produces about 580 million cubic feet per day without saying when it would reach the higher threshold, Reuters reported.Speaking at the conference, Venezuela vice minister for gas Cindy Rondon said the country needs to speed up repairs to its gas infrastructure, the report said.Eni and Repsol 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.)

Equities102d ago

Update: BP's Q1 Underlying Profit, Sales Increase - Shares Up Pre-Bell

(Updates with additional details in the fifth and sixth paragraphs.)BP (BP) reported Q1 underlying replacement cost profit Tuesday of $1.24 per American depositary share, up from $0.53 a year earlier.Sales and other operating revenue for the quarter totaled $52.26 billion, up from $46.91 billion a year earlier.Analysts polled by FactSet expected $49.4 billion.The energy major maintained an interim dividend of $0.0832 per share to be paid on June 26 to shareholders of record as of May 15.BP said it anticipates lower Q2 reported upstream production as compared with Q1 due to the Middle East conflict, while 2026 reported upstream production is now expected to be lower from a year earlier, adding that its 2026 underlying upstream production is expected to be mostly flat as compared with 2025.The energy giant said it continues to expect $13 billion to $13.5 billion in capital expenses for 2026.Shares of the company were up over 3% in Tuesday premarket activity.

$BP

Equities102d ago

Phillips 66 Closes Acquisition of Lindsey Oil Refinery Assets in UK

Phillips 66 (PSX) said Tuesday its UK subsidiary has completed the acquisition of assets and associated infrastructure of Prax Lindsey Oil Refinery.The deal, unveiled in January, will see the assets integrated into Phillips 66's Humber Refinery operations in North Lincolnshire, the company said.The Humber Refinery produces sustainable aviation fuel, graphite coke for electric vehicle batteries, petrochemical feedstocks and transportation fuels, according to Phillips 66.

$PSX

Equities102d ago

Zenith Energy Secures Funds via Private Placements, Convertible Loan Facility

Zenith Energy (ZENA.OL, ZEN.L) said Tuesday it raised funds through private placement offers in the UK and Norway, settled debt, and secured a convertible loan facility.The energy company noted that it raised 35,653,000 Norwegian kroner from its offering of 40,979,839 shares in Norway, and 250,000 pounds sterling from selling 3,629,764 shares in the UK. Additionally, it issued 20,964,527 shares to settle its debt worth 18.2 million kroner.Admission of the shares on the London bourse's main market is expected on May 5. Meanwhile, the 12-month loan facility will be worth up to 2 million pounds and have a 5% yearly interest rate, with a repayment date of April 27, 2027.Proceeds were earmarked for its subsidiaries' international arbitration proceedings, the expansion of its solar energy portfolio, its environmental impact assessments, potential investments, and general working capital.

$ZEN.L$ZENA.OL

Equities102d ago

Block Energy Raises $6 Million via Share Placement, Retail Offer

Block Energy (BLOE.L) raised $6.3 million through share placement and retail offer, according to a Tuesday filing.The London-listed oil and gas company issued 418,701,200 shares under the placing to raise $6.2 million and 4,506,716 shares in its retail offering to raise $67,000.Tennyson was the sole bookrunner for the placing.

$BLOE.L

Equities102d ago

BP Posts Reports Higher Q1 Attributable Profit, Total Revenue

BP (BP.L) reported on Tuesday that its attributable profit and total revenue increased year over year in the first quarter.Profit attributable to shareholders for the three months ended March 31 was $3.84 billion, compared with $687 million earlier. EPS moved to $0.2453 from $0.0427, while earnings per American depositary receipt increased to $1.47 from $0.26.The oil and gas company's total revenue and other income were $53.37 billion, compared with $47.88 billion a year ago.Meanwhile, the board declared an interim dividend of $0.0832 per share for the quarter, payable June 26 to shareholders on record May 15. It paid $0.0800 per share in the year-ago period.

$BP.L

Equities102d ago

NMDC Energy Posts Lower Preliminary Q1 Profit; Contract Revenue Up

NMDC Energy (ADX:NMDCENR) said Tuesday its preliminary profit for the first quarter tumbled, while contract revenue increased year over year.Preliminary profit attributable to shareholders for the three months ended March 31 was 79.6 million Emirati dirhams, compared with 216.2 million dirhams earlier. EPS moved to 0.016 dirham from 0.043 dirham.The offshore and onshore energy sector engineering and construction company's contract revenue was 4.96 billion dirhams, compared with 3.73 billion dirhams a year ago.

ADX:NMDCENR

Equities102d ago

Adnoc Plans Billions in US Investments to Build Gas Business

Abu Dhabi National Oil Co., or Adnoc, is looking to invest tens of billions of dollars to develop a gas business in the US as part of a diversification push due to energy disruptions amid the US-Iran war.The state oil and gas company is exploring deals, including drilling joint ventures and minority stakes, London's Financial Times reported Tuesday, citing an interview with Nameer Siddiqui, the chief investment officer of Adnoc's overseas investment arm XRG. The company is looking at 29 potential deals in the US to set up a vertically integrated gas business, Siddiqui said.XRG's acquisitions could span the entire value chain from extracting gas to owning re-gas facilities and pipelines to end users in destination countries, Siddiqui told the publication.

^FADGI

Equities102d ago

U.S. Blockade Squeezes Iran Oil Flows, Forces Output Cuts, Kpler Says

The U.S. blockade on Iranian oil exports is beginning to materially disrupt flows, sharply reducing loadings and forcing production cuts, according to a report from Kpler.Iran's loadings have dropped to about 567,000 barrels per day (bpd) according to the report and added that production cuts are expected to rise as much as 1.5 million bpd by mid-May.While the immediate revenue impact is limited due to shipping and payment lags, Kpler estimates losses could reach $200 million to $250 million per day in the coming months.The report also said that the blockade more than symbolically pressures Iran, adding that curtailing "production comes with higher opex. Iran is also a major grain, corn and rice importer. Lower imports of these agricultural products will drive higher inflation internally."

Equities102d ago

US-Boarded Iran-Linked Tankers Turn Around in Indian Ocean

Two Iran-linked oil tankers intercepted by U.S. forces near Sri Lanka have turned around in the Indian Ocean, Bloomberg reported on Monday.The vessels identified as the Tifani and Phonix were boarded by U.S. forces last week. The report said after initially heading west, the tankers turned east late Monday, according to shipping data.The U.S. has not clarified what will happen to the ships or their cargo, and both vessels continue to signal Asian destinations, creating confusion about their final route.

Equities102d ago

Vietnam's PV Gas Turns to US LPG as Iran War Disrupts Supply

PetroVietnam Gas plans to increase imports of liquefied petroleum gas from the U.S., as the Iran war disrupts supplies from the Middle East, Bloomberg reported on Monday.The company plans to import about 66,000 tons of LPG from the U.S. in May, compared with 44,000 tons from the Middle East.PV Gas expects to import around 250,000 tons of LPG in the three months following the outbreak of the war, with more than half coming from the U.S., the report said.

Equities102d ago

Trump Administration Cancels Offshore Wind Leases, Shifts Investment to Fossil Fuels

The Trump administration has struck agreements to cancel offshore wind leases and redirect investment toward conventional energy projects, as part of its push to boost energy security and affordability.The deals with Bluepoint Wind and Golden State Wind will see the companies end their leases in exchange for investing equivalent amounts in areas such as liquefied natural gas, and oil and gas infrastructure.The U.S. Department of the Interior said Bluepoint plans to invest up to $765 million, while Golden State Wind will commit about $120 million.The department said the agreements aim to move away from projects reliant on subsidies and toward more reliable energy sources.

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