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Morgan Stanley Raises Price Target on Marathon Petroleum to $233 From $200, Keeps 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

Equities106d ago

Morgan Stanley Upgrades Phillips 66 to Overweight From Equalweight, Adjusts PT to $174 From $147

Phillips 66 (PSX) has an average rating of overweight and mean price target of $182.72, 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)

$PSX

Equities106d ago

Enoc, Emarat Partner for Aviation Fuel Business Continuity

Emirates National Oil Co. Group, or Enoc, and Emirates Petroleum Co, d/b/a Emarat, signed a memorandum of understanding to establish a business continuity plan for aviation fuel.The agreement aims to boost coordination and enhance the reliability of Jet A-1 fuel supplies, ensuring seamless operations in the United Arab Emirates' aviation sector, according to a Friday release.The plan will set procedures for the response, recovery, resumption and restoration of operations at both state-owned oil companies, as well as involve regular tests, exercises and staff training.

^DFMGI

Equities106d ago

Pulsar Helium Considers Legal Action Over Circulated Private Placement Claims

Pulsar Helium (PLSR.L) said Friday that communications falsely circulating terms of a private placement by a third-party broker have no basis.The primary helium company added it is exploring regulatory and legal options in response to the broker's actions.

$PLSR.L

Equities106d ago

Update: Eni Q1 Net Profit Decreases, Sales Increase

(Updates with additional details on outlook and share buyback in the fifth and sixth paragraphs.)Eni (E) reported Q1 net profit Friday of 0.34 euros ($0.40) per diluted share, down from 0.36 euros a year earlier.Analysts polled by FactSet expected 0.50 euros.Sales from operations for the quarter ended March 31 were 22.96 billion euros, up from 22.57 billion euros a year earlier.Analysts surveyed by FactSet expected 22.84 billion euros.The company expects 2026 underlying oil and gas production to grow 3% to 4%, while guiding GGP adjusted proforma earnings before income tax at around 1.3 billion euros, marking a roughly 30% increase from its initial outlook.Eni has raised its proposed share buyback by roughly 90% to 2.8 billion euros.

Equities106d ago

OGDCL Gets 10th Monthly Payment under Pakistan's Circular Debt Plan

Oil and Gas Development Co Ltd (OGDC.L), d/b/a OGDCL, received the 10th of 12 monthly interest payments of 7.73 billion Pakistani rupees from Power Holding (Private) Ltd under the Pakistan government's circular debt settlement plan.The state-owned power company will pay a total of 92 billion rupees in interest to the London-listed Pakistani oil and gas company, according to a Friday release.

$OGDC.L

Equities106d ago

Eni Q1 Net Profit Decreases, Sales Increase

Eni (E) reported Q1 net profit Friday of 0.34 euros ($0.40) per diluted share, down from 0.36 euros a year earlier.Analysts polled by FactSet expected 0.50 euros.Sales from operations for the quarter ended March 31 were 22.96 billion euros, up from 22.57 billion euros a year earlier.Analysts surveyed by FactSet expected 22.84 billion euros.

Equities106d ago

TotalEnergies Takes Final Investment Decision on $1.2 Billion Mirny Project in Kazakhstan

TotalEnergies (TTE.PA, TTE.L) said Friday it took a final investment decision and secured financing for its Mirny onshore wind and battery energy storage system project in Kazakhstan.The French energy group noted that the $1.2 billion project, to be financed 75% externally, will combine 1 gigawatt of wind capacity with a 600 megawatt-hour battery energy storage system.The project, expected to reach its full capacity by 2029, will sell electricity to the government of Kazakhstan under a 25-year power purchase agreement.

$TTE.L$TTE.PA

Equities106d ago

TotalEnergies Secures Financing for Onshore Wind, Battery Energy Storage System Project in Kazakhstan

TotalEnergies (TTE) has secured financing for its Mirny onshore wind and battery energy storage system project in southeast Kazakhstan, the company said Friday.The company signed a common terms agreement with an international lending consortium, securing a financing framework for the project, which consists of a 1 gigawatt onshore wind farm and a 600 megawatt-hour battery energy storage system.TotalEnergies owns 60% of the project, while its partners Samruk Energy and KazMunayGas hold 20% each.The project is expected to generate 100 terawatt-hour of renewable electricity over 25 years, to be sold to the Kazakhstan government under a 25-year power purchase agreement signed in 2023. The project is anticipated to reach full capacity in 2029.The investment in the project currently amounts to $1.2 billion, with about 75% externally financed, according to TotalEnergies.

$TTE

Equities106d ago

Serica Energy Plans Investor Meetings for Potential Bond Issue

Serica Energy (SQZ.L) plans to hold fixed-income investor meetings ahead of a potential issue of a five-year senior unsecured bond.The oil and gas company will use the potential net proceeds to fully repay drawn debt under its reserve-based lending facility, it said Friday.Serica is scheduled to hold a capital markets day on June 2 to outline its capital allocation framework and organic growth plans.

$SQZ.L

Equities106d ago

Constellation Oil Services Completes EUR1 Million Share Sale for Euronext Oslo Børs Listing

Constellation Oil Services (COSH.OL) said Friday it completed a 1 million-euro retail offering of Norwegian depositary receipts for its uplisting to Euronext Oslo Børs.The offshore oil and gas contract drilling services provider issued 81,501 depositary receipts at 133.9 million Norwegian kroner pursuant to the offering. Constellation Oil said the depositary receipts are expected to start trading on the bourse on April 30.Clarksons Securities and DNB Bank's DNB Carnegie managed the offering.

$COSH.OL

Equities106d ago

Questerre to Sell Kakwa Central Non-operated Minority Assets for $24 Million

Questerre Energy (QEC.OL) agreed to sell its non-operated minority working interest in its Kakwa Central assets for $23.5 million.The sale agreement is slated to close on May 1. The buyer has agreed to assume decommissioning liabilities for the assets and Questerre's commitments under its firm transportation and processing contracts.The oil and gas-focused energy technology and innovation company noted that the sale remains subject to requisite approvals and customary adjustments.

$QEC.OL

Equities106d ago

Eni Posts Lower Q1 Attributable Net Profit; Revenue Up

Eni (ENI.MI) said Friday its attributable net profit for the first quarter fell, while total revenue rose year over year.Net profit attributable to shareholders for the three months ended March 31 was 1.07 billion euros, compared with 1.17 billion euros earlier. EPS moved to 0.34 euro from 0.36 euro.The Italian oil and gas company's total revenue was 20.06 billion euros, compared with 19.19 billion euros a year ago.Eni confirmed its 2026 dividend target of 1.10 euros per share, up 5% from 2025.

$ENI.MI

Equities106d ago

ONEOK Keeps Quarterly Dividend at $1.07 a Share, Payable May 15 to Holders of Record May 4

$OKE

Equities106d ago

BofA: Saudi Aramco Poised to See Robust Q1 Results Amid Higher Oil Prices

BofA Global Research expects Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to report robust first-quarter 2026 results, potentially logging its highest profits since the third quarter of 2023."We forecast Aramco's 1Q26 net income (including minority interests) at US$29.7bn, up 19% q/q. The increase is supported by: 1) strong Brent pricing atUS$78/bbl in 1Q26, up 24% q/q offsetting lower crude volumes q/q, which are down 7%, 2) robust downstream with refining margins up 10-20% q/q(based on IOC peers) and the chemical basket price up 10% q/q," analysts wrote Thursday.In terms of revenue, the state-owned oil and gas giant is projected to see a 2% quarterly increase to $113.1 billion. The research firm also noted that Aramco is well placed to ramp up its production once the conflict in the Middle East is resolved.As such, the 2026 and 2027 EPS forecasts were nudged up to 2.07 Saudi riyals and 2.11 riyals, respectively, from 2.06 riyals and 2.10 riyals.The buy rating on the stock was reaffirmed, with a price objective of 34.50 riyals.

SASE:2222

Equities106d ago

Wells Fargo Adjusts Price Target on EQT to $79 From $70, Maintains Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $70.76, 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

Equities106d ago

RBC Adjusts Estimates for Galp Energia After Q1 Trading Update, Commodity Price Deck Revision

RBC Capital Markets revised its forecasts for Galp Energia (GALP.LS) to reflect the Portuguese energy company's strong first-quarter trading update and the research firm's latest commodity price deck."Galp's trading update highlighted production figures above consensus, reflecting strong operational trends and the continued ramp up of Bacalhau," analysts said in a Wednesday note. "In the downstream, Galp's $14.8/bbl refining margin for the quarter reflects the elevated margins in March, although this will be offset in part by hedged volumes, lower volumes earlier in the quarter (weather related) and a negative accounting effect related to timing impacts. We also update our estimates for RBC's Latest Commodity Price Deck which incorporates higher prices for 2026-27 as well as an $80/bbl long term Brent assumption (previously $70/bbl)."As such, the research firm increased its EBIT estimates for Galp Energia's upstream and commercial segments, while that for refining and midstream was reduced. Overall, RBC's first-quarter EBITDA and EBIT projections fell amid one-off impacts, with its group net income forecast down to 304 million euros from 324 million euros, against the consensus of 276 million euros.The stock's outperform rating and price target of 22 euros were affirmed.

$GALP.LS

Equities107d ago

Berenberg Updates Forecasts for GTT After In-line Q1 Trading; Price Target Up

Berenberg revised its estimates for Gaztransport & Technigaz's (GTT.PA), d/b/a GTT, after its first-quarter trading update came in line with expectations amid strong order momentum.In the first quarter, the French liquefied gas transport and storage group's total revenue was 192.5 million euros, meeting company-compiled consensus and up from 190.5 million euros a year ago, according to a Thursday note. Orders in the three months ended March 31 came in at 32, against 16 a year ago."GTT delivered an in-line Q1 2026 trading statement on 22 April, confirming no direct impacts from the Middle Eastern conflict and reiterating full-year guidance. The pace of orders has accelerated across the quarter and given order requirements from liquefied natural gas (LNG) projects that have sanctioned in the past year, we expect order momentum to remain," the research firm said.As such, Berenberg increased its sales, EBIT and EPS estimates for 2026 to 2028. Citing order rate in the first quarter of 2026, analysts also upgraded their order forecast for 2026 and 2027 to 85 each, from the previous 75. Over the next decade, LNG carrier orders are expected to reach 530, against the "450++" outlook.The stock's price target was increased to 190 euros from 185 euros, while the hold rating was unchanged.

$GTT.PA

Equities107d ago

Saudi Aramco, Sulzer Sign Long-term Procurement Deal for Pumps, Aftermarket Services

Sulzer (SUN.SW) signed a long-term corporate procurement agreement with Saudi Arabian Oil (SASE:2222), d/b/a Saudi Aramco, to supply centrifugal pumps, spare parts, and aftermarket services.The Swiss engineering company said Thursday the five-year strategic deal, with an option to extend by three years, will support Aramco's global operations and nationwide pump fleet.

SASE:2222$SUN.SW

Equities107d ago

Morgan Stanley Lifts Price Target on Range Resources to $49 From $48, Keeps Equalweight Rating

Range Resources (RRC) has an average rating of hold and mean price target of $47, 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)

$RRC

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