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Shell Confirms Talks for Potential Production at Venezuela's Loran Field

Shell (SHEL.L, SHELL.AS) confirmed that it is in discussions with Venezuela for the potential development of the Loran gas field, according to a company statement sent toon Friday.The British oil and gas giant said Loran's proximity to its Manatee field in Trinidad and Tobago, where it expects to produce gas by 2027, makes the Venezuelan asset an attractive investment opportunity. Shell, however, noted that it has not taken any final investment decision on Loran.Reuters on Thursday cited the chairman of Trinidad's National Gas Co., Gerald Ramdeen, as saying that Shell is planning to initiate natural gas production at the joint Loran-Manatee offshore field in 2027, and has increased the pipeline capacity for gas transport to Trinidad to 1 billion cubic feet per day from the previously planned 700 million cubic feet.

$SHEL.L$SHELL.AS

Equities122d ago

Update: ConocoPhillips Explores Return to Venezuela for Oil Drilling

(Updates with ConocoPhillips' statement throughout.)ConocoPhillips (COP) has sent a team to Venezuela to evaluate the prospects of oil drilling in the country, the company said in an emailed statement Friday to."We sent a small evaluation team to Venezuela during the week of April 6 to better understand the potential for in-country oil and gas opportunities. We will evaluate Venezuela against other international opportunities as part of our disciplined investment framework," the company said.ConocoPhillips said previously that its assets in Venezuela were expropriated by the country's government back in 2007.Price: $121.86, Change: $-1.62, Percent Change: -1.31%

$COP

Equities122d ago

Venture Global Reports Closing of $1.75 Billion Credit Facility

Venture Global (VG) said Friday its subsidiary Calcasieu Pass Funding, which indirectly controls the Calcasieu Pass project, has obtained a $1.75 billion senior secured term loan B credit facility.The company said it used part of the proceeds to redeem the preferred equity interests of the subsidiary that were previously issued to Stonepeak Bayou Holdings II."This transaction meaningfully reduces our overall cost of capital while further strengthening our balance sheet and liquidity position," said Chief Executive Officer Mike Sabel.Price: $12.70, Change: $-0.29, Percent Change: -2.23%

$VG

Equities122d ago

Mizuho Securities Adjusts Chevron Price Target to $225 From $217, Maintains Outperform Rating

Chevron (CVX) has an average rating of overweight and mean price target of $208.54, 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)Price: $187.30, Change: $-3.06, Percent Change: -1.61%

$CVX

Equities122d ago

UBS Adjusts Delek US Holdings Price Target to $48 From $42, Maintains Neutral Rating

Delek US Holdings Inc (DK) has an average rating of overweight and mean price target of $47.79, 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)

$DK

Equities122d ago

UBS Adjusts Diamondback Energy Price Target to $245 From $240, Maintains Buy Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $214.84, 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)

$FANG

Equities122d ago

Vessels Partially Blocked in Belgium's Port of Antwerp Due to Oil Spill

The Port of Antwerp in Belgium said Friday the passage of vessels were blocked due to an oil spill during a bunkering operation.The Scheldt Dock was closed early morning but was reopened to shipping hours around early afternoon. On the other hand, the Deurganck Dock, where the oil spill occurred, remains closed. The port added the Zandvliet and Berendrecht locks are also closed due to the presence of oil slicks.European refineries operated by Exxon Mobil Corp. (XONA.F) and TotalEnergies SE (TTE.PA, TTE.L) are located in the port, as reported by Bloomberg News.Exxon and TotalEnergies did not immediately respond to a request for comment from.

$TTE.L$TTE.PA$XONA.F

Equities122d ago

OMV Supervisory Board Committee Proposes New CEO

OMV (OMV.VI) said Friday that the presidential and nomination committee of the Austrian petrochemical company's supervisory board recommended the appointment of Emma Delaney as chief executive.Under the proposal, which is subject to the supervisory board's resolution, Delaney would take over the role on Sept. 1 for three years, with an option for another two years.

$OMV.VI

Equities122d ago

Antwerp Port in Belgium Blocked by Oil Spill Near Exxon Mobil, TotalEnergies Refineries

Port of Antwerp in Belgium, which is home to European refineries operated by Exxon Mobil (XOM) and TotalEnergies (TTE), was blocked following an oil spill during a ship refueling operation, preventing large vessels from entering or leaving the port, the port authority said Friday.Exxon Mobil said its refinery operations were not impacted, with a nearby canal still available to move oil products by barge, according to Bloomberg.Exxon Mobil and TotalEnergies did not immediately respond to' request for comment.

$TTE$XOM

Equities122d ago

Paramount Resources Acquires Additional Securities Of Canadian Premium Sand

Paramount Resources (POU.TO) said Friday that it has acquired additional securities of Canadian Premium Sand (CPS.V).Paramount said it acquired C$275,000 in principal amount of 12.0% secured convertible debentures of CPS as part of a private placement recently completed by CPS.The 2026 convertible debentures mature on Feb. 26, 2027, with a conversion price of $0.15 per share.Concurrently with the completion of the private placement, CPS also amended the terms of its outstanding 12.0% secured convertible debentures previously issued in February 2020 to reduce the conversion price thereof to $0.15 per share from $0.75 per share.Paramount would hold a total of 25,780,297 common shares, representing a 25.66% stake in CPS, following the conversion of all 2020 and 2026 convertible debentures held by the company.Prior to the transaction, Paramount held 17,946,964 common shares or a 19.38% interest in CPS.

$CPS.V$POU.TO

Equities123d ago

Petrobras Signs $450 Million Contracts to Regain Full Ownership of Offshore Brazil Assets

Petrobras (PBR) said Thursday it signed contracts with Petronas Petroleo Brasil to acquire 50% stakes in the Tartaruga Verde and Espadarte - Module III fields in the Campos Basin offshore Brazil for $450 million, regaining full ownership in the assets.The company said $50 million was paid at signing, with $350 million to be paid upon closing. The deal consideration includes two deferred installments of up to $25 million each, according to Petrobras.The deal is subject to approval by Brazil's National Agency of Petroleum, Natural Gas and Biofuels.

$PBR

Equities123d ago

Goldman Sachs Adjusts Price Target on Phillips 66 to $192 From $186, Maintains Neutral Rating

Phillips 66 (PSX) has an average rating of overweight and mean price target of $181.68, 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

Equities123d ago

TD Cowen Adjusts Price Target on Exxon Mobil to $172 From $175, Maintains Buy Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $163.04, 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

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