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Okeanis Eco Tankers Obtains $190 Million Financing for Vessel Purchases

Okeanis Eco Tankers (OET.OL) said Monday it secured three separate loan facilities totaling $190 million to support its acquisition of vessels.The tanker company secured a $90 million facility to partly fund the purchase of two new Suezmax vessels, expected to be delivered in May and July. The eight-year facility is subject to the secured overnight financing rate plus 120 basis points.The company also entered into two facilities of $50 million each from unnamed Greek lenders to finance its deal to buy back the Nissos Rhenia and Nissos Despotiko vessels. The seven-year Nissos Rhenia facility is expected to close in May with a SOFR plus 125 basis points, and the nine-year Nissos Despotiko facility is expected to close in June with a SOFR plus 130 basis points.

$OET.OL

Equities5d ago

Questerre Energy Completes $23.5 Million Sale of Interest in Canadian Assets

Questerre Energy (QEC.OL) completed the divestment of non-operated minority working interest in the Kakwa Central assets in Canada on May 1.The energy technology and innovation company said Monday it sold the assets for cash consideration of $23.5 million, alongside the assumption of decommissioning liabilities and commitments under firm transportation and processing contracts.

$QEC.OL

Equities5d ago

Adnoc Drilling Finalizes Purchase of 80% Stake in MB Petroleum Services JV

Adnoc Drilling (ADX:ADNOCDRILL) concluded the purchase of an 80% stake in drilling and oilfield services joint venture MB Petroleum Services with MB Holding Co.The deal, comprising 22 drilling and workover rigs, as well as production service units, was completed ahead of its mid-year timeline, according to a Monday release. The joint venture has operations in Oman, Kuwait, Saudi Arabia, and Bahrain.Adnoc Drilling expects the joint venture, with an enterprise value of $204 million, to be earnings, cash flow, and returns accretive.

$ADX:ADNOCDRILL

Equities6d ago

Adnoc Awards AED200 Billion Contracts for Projects Until 2028

Abu Dhabi National Oil Co., or Adnoc, gave out contracts totaling 200 billion Emirati dirhams for its projects from 2026 to 2028, as part of its five-year capital expenditure plan.The awarded agreements at the Make it With ADNOC forum aim to boost the state-owned oil group's upstream and downstream operations, as well as its production capacity, according to a Sunday release.Additionally, the contracts also support the group's In-Country Value program and the United Arab Emirates' Make it in the Emirates initiative.

$^FADGI

Equities6d ago

Ades Holding Bags Offshore Drilling Services Contract in Nigeria

Ades Holding (SASE:2382) signed a two-year agreement for the shelf drilling victory in Nigeria for 347.6 million Saudi riyals, which includes the share of its in-country partner.The deal with oil and gas company Seplat Energy Producing Nigeria includes two unpriced optional extension periods of one year each, according to a Sunday release. The Saudi drilling services company expects rig operations to start in the second half of 2026.

$SASE:2382

Equities6d ago

Market Chatter: OPEC+ to Reportedly Increase Crude Output Quotas in June

The Organization of the Petroleum Exporting Countries and allies, such as Russia, or OPEC+, will reportedly increase its oil production levels in June, Reuters reported on May 2, citing sources.The sources said that the group plans to raise targets by 188,000 barrels per day at its Sunday meeting, which would include Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia, and Oman. They added that the move is part of its plan to signal a business-as-usual approach amid the conflict in the Middle East.(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.)

$^TASI

Equities7d ago

Trump Signals Diplomacy Over Military Action On Iran, Despite Frustration With Talks

President Donald Trump said he is dissatisfied with ongoing negotiations with Iran but indicated a preference for diplomacy over further military action in the nine-week conflict disrupting global energy markets, Bloomberg reported on Friday."They want to make a deal but I'm not satisfied with it," Trump told reporters, adding that while progress has been made, he is uncertain whether an agreement will be reached, the report said.Iran has put forward a new proposal via Pakistan, according to state media, offering to discuss conditions for reopening the Strait of Hormuz while seeking US commitments to halt attacks and lift its blockade.Trump, however, said the US is not ready to end the conflict, touting what he described as a "complete" shutdown of the strategic waterway, a key chokepoint for global oil supplies.

Equities7d ago

Big Oil Warns of Further Price Surge as Hormuz Disruption Drains Buffers

Exxon Mobil (XOM), Chevron (CVX) and ConocoPhillips (COP) have warned that global energy markets may face further price increases as supply buffers are rapidly being depleted amid the ongoing Strait of Hormuz disruption, Bloomberg reported on Friday.Executives said inventories, strategic reserves and floating storage have helped cushion prices so far, but those supplies are now running low, reducing the market's ability to absorb prolonged supply shocks.Chevron's CFO told Bloomberg that much of the spare capacity has already been used, leaving limited leeway if the disruption continues, while Exxon's CEO warned markets have yet to fully reflect the scale of the supply hit.With roughly a fifth of global oil and LNG flows typically passing through the strait, companies indicated that a prolonged closure could push crude prices significantly higher.

$COP$CVX$XOM

Equities8d ago

S&P 500 Marks Fifth Weekly Gain, Reaches New Records on Earnings Strength

The Standard & Poor's 500 index rose 0.9% this week to another closing record high as the communication services sector led a broad climb amid better-than-expected earnings.The S&P 500 ended Friday's session at 7,230.12 and reached a fresh intraday high of 7,272.52.This marks the fifth consecutive weekly gain. On Thursday, the benchmark closed out April with a 10% jump that represented its largest monthly increase since November 2020. The index, which fell 5.1% in March, is now up 5.6% for 2026.Large companies including Amazon.com (AMZN), Google parent Alphabet (GOOGL), Microsoft (MSFT) and Exxon Mobil (XOM) reported stronger-than-expected quarterly results.The communication services sector had the largest percentage increase of the week, climbing 4.5%, followed by a 3.2% rise in energy, a 1.1% gain in consumer staples and a 1% advance in real estate. Financials, utilities, health care, consumer discretionary, industrials and technology also edged higher.Alphabet led the climb in communication services, with its shares jumping 12% on the week. Q1 results exceeded Wall Street's estimates as revenue for Google's cloud and services businesses climbed.Verizon Communications (VZ) also boosted the communication services sector. The shares rose 3.7% as the company raised its full-year earnings outlook and reported a Q1 profit above market estimates.The energy sector's advance came as crude oil futures remained elevated, with no end in sight for the U.S.-Iran conflict.Phillips 66 (PSX) rose 8.2% as the company swung to a Q1 adjusted profit per share after analysts had forecast a loss.Materials, the only sector that fell this week, shed 2%.Newmont (NEM) had the largest weekly loss in the materials sector with the shares down 10% even as Q1 adjusted earnings per share and revenue topped Wall Street estimates. The company said it is on track to achieve its 2026 production outlook of 5.3 million attributable gold ounces.Next week's earnings calendar features Advanced Micro Devices (AMD), Walt Disney (DIS), McDonald's (MCD), Arista Networks (ANET) and Palantir Technologies (PLTR).The focal point of the economic data calendar will be the government's release of monthly jobs data on Friday. Other data due next week include new home sales and construction spending for February and March, as well as the first reading of consumer sentiment for May.

$^DJI$^IXIC$^SPX$GOOGL$NEM$PSX$VZ

Equities8d ago

Market Chatter: BP Reportedly Weighs Options for UK North Sea Operations

BP (BP.L) is considering a partial or full sale of its assets in the UK North Sea as part of an internal review of upstream operations, Bloomberg News wrote Friday, citing people familiar with the matter.A full sale could raise 2 billion pounds sterling, the sources said, adding that the British energy major's review is ongoing and may not lead to any divestment.BP 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

Equities8d ago

Bloomberg: BP Conducting Internal Review of UK Upstream Operations

$BP.L

Equities8d ago

UBS Adjusts Price Target on Warrior Met Coal to $102 From $104, Maintains Buy Rating

Warrior Met Coal (HCC) has an average rating of overweight and mean price target of $105, 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)

$HCC

Equities8d ago

Occidental Petroleum Names Richard Jackson CEO, President

Occidental Petroleum (OXY) said Friday its board has appointed Chief Operating Officer Richard Jackson to succeed Vicki Hollub as president and chief executive officer, starting June 1.Hollub will retire on that date but will remain on the company's board of directors, the company said.

$OXY

Equities8d ago

Sector Update: Energy

Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.2%.The United States Oil Fund (USO) was down 1.3% and the United States Natural Gas Fund (UNG) was 1.2% higher.Front-month US West Texas Intermediate crude oil was 1.4% lower at $103.59 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.2% to $110.60 per barrel, and natural gas futures were up 0.9% at $2.79 per 1 million British Thermal Units.Exxon Mobil (XOM) shares were down 0.3% after the company reported a decline in Q1 adjusted earnings.

$XOM

Equities8d ago

Imperial Oil's Q1 Net Income, Revenue Decline

Imperial Oil (IMO) reported Q1 net income Friday of 1.94 Canadian dollars ($1.43) per diluted share, compared with CA$2.52 a year earlier.Analysts surveyed by FactSet expected CA$2.30.Revenue for the quarter ended March 31 was CA$12.45 billion, compared with CA$12.52 billion a year earlier.Analysts surveyed by FactSet expected CA$11.98 billion.

$IMO

Equities8d ago

Earnings Flash (IMO) Imperial Oil Posts Q1 EPS CA$1.94, vs. FactSet Est of CA$2.30

$IMO

Equities8d ago

Earnings Flash (IMO) Imperial Oil Posts Q1 Total Revenue and Other Income CA$12.45B, vs. FactSet Est of CA$11.98B

$IMO

Equities8d ago

JPMorgan Adjusts Valero Energy Price Target to $299 From $285

Valero Energy (VLO) has an average rating of overweight and mean price target of $259.94, 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)

$VLO

Equities8d ago

Goldman Sachs Adjusts Valero Energy Price Target to $283 From $258

$VLO

Equities8d ago

Raymond James Adjusts Valero Energy Price Target to $300 From $290

$VLO

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Equities8d ago

S&P 500 Marks Fifth Weekly Gain, Reaches New Records on Earnings Strength

$^DJI$^IXIC$^SPX$GOOGL$NEM$PSX$VZ