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Update: Chevron Signs 20-Year Deal With Microsoft to Power Data Center in West Texas

(Updates with Chevron's statement in the headline and throughout.)Chevron (CVX) said Monday its Energy Forge One subsidiary has signed a 20-year power purchase agreement with Microsoft (MSFT) for a planned Microsoft-operated data center in West Texas.Under the agreement, Chevron and Engine No. 1 have been collaborating to develop a co-located natural gas facility known as Project Kilby, which is expected to deliver about 2.67 gigawatts of capacity in phases, primarily using GE Vernova (GEV) turbines and equipment from Caterpillar's (CAT) Solar Turbines unit, according to a statement.Chevron said it targets a final investment decision by the end of 2026, with first power delivery expected in 2028 and the project anticipated to deliver mid-teen returns.

$CAT$CVX$GEV$MSFT

Equities1d ago

Intesa Sanpaolo Keeps Repsol at Neutral, Boosts PT

Intesa Sanpaolo on Monday reiterated its neutral rating on Spanish energy company Repsol (REP.MC) and increased its price target to 22.70 euros from 16.10 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)

$REP.MC

Equities1d ago

Market Chatter: Chevron Signs 20-Year Power Deal With Microsoft for West Texas Data Center

Chevron (CVX) has signed a 20-year agreement with Microsoft (MSFT) to supply natural gas-fired power for a planned West Texas data center campus, Bloomberg reported Monday.The project, known as Project Kilby, is expected to begin supplying power in 2028 and eventually reach 2.67 gigawatts of capacity, according to the report.Chevron and Engine No. 1 plan to make a final investment decision later this year, Bloomberg reported, adding that the facility will use natural gas from the Permian Basin and operate independently of the power grid.Chevron and Microsoft did not immediately respond 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.)

$CVX$MSFT

Equities1d ago

Market Chatter: Chevron Signs 20-Year Deal With Microsoft to Power Texas Data Center

Chevron (CVX) has signed a 20-year agreement with Microsoft (MSFT) to provide power via natural gas for a proposed data center in West Texas, Bloomberg reported Monday.The plant, named Project Kilby, is expected to provide its first power by 2028 and will increase to 2.67 gigawatts over time, the report said, citing a Chevron statement.The companies didn't immediately reply to requests 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.)

$CVX$MSFT

Equities1d ago

Chevron Signs 20-Year Deal With Microsoft to Power Texas Data Center, Bloomberg Reports

$CVX$MSFT

Equities1d ago

Baker Hughes, Chart Industries in Talks With European Commission Over Commitments Prior to Merger Approval

Baker Hughes (BKR) and Chart Industries (GTLS) confirmed that they are in talks with the European Commission over "possible commitments" for the Commission's approval of the companies' acquisition transaction, ChartIndustries said in a Monday filing.The company plans to acquire Chart in a $13.6 billion transaction, with the latter to become an indirect, wholly owned Baker Hughes subsidiary upon closing.The companies said the proposed commitments are not expected to have a material impact on the merger, but did not provide further details. The transaction is expected to close in July, they added.

$BKR$GTLS

Equities1d ago

Social Buzz: Wallstreetbets Stocks Mixed Pre-Bell Monday; Sandisk to Advance, Space Exploration Technologies to Decline

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mixed hours before Monday's opening bell.Sandisk (SNDK) was up 3.9% pre-bell, following an 11.5% rise at Thursday's close.Intel (INTC) was 3.8% higher premarket, after a 10.6% increase from Thursday's session.Micron Technology (MU) rose by 3.6% in premarket activity, after an 8.7% increase from the previous session.Take-Two Interactive Software (TTWO) advanced by 3.1% in pre-bell hours, after closing Thursday with a 4.9% increase. Take-Two Interactive's Rockstar Games said pre-orders for its Grand Theft Auto VI video game will start on June 25 for both digital and physical retail locations.DTE Energy (DTE) was up 0.5% premarket, after a 0.3% increase from the previous session.Space Exploration Technologies (SPCX) fell by 4.7% hours before market open, following a 3.6% decline from Thursday's session.Nvidia (NVDA) declined by 0.5% pre-bell, after an increase of nearly 3% from the previous session.Microsoft (MSFT) was 0.1% lower premarket, swinging from a 0.1% increase at Thursday's close.

$DTE$INTC$MSFT$MU$NVDA$SNDK$SPCX$TTWO

Equities1d ago

Ascent Resources Raises GBP400,000 from Private Placement of New Shares

Ascent Resources (AST.L) said Monday it raised 400,000 pounds sterling from its private placement of 80,000,000 new shares priced at 0.005 pounds apiece.The oil and gas company will also convert $150,000 of debt owed to RiverFort Global Opportunities PCC into equity by issuing 22,727,270 new ordinary shares at 0.005 pounds each, along with 11,363,635 Preference 2 shares. After the conversion, the balance on the RiverFort convertible loan note will be at over $1 million.Net proceeds will be used for Ascent Resources' working capital. Admission of the placing shares and conversion shares on the AIM segment of the London bourse is expected on Friday.

$AST.L

Equities1d ago

Raymond James Adjusts PT on EOG Resources to $176 From $186, Maintains Strong Buy Rating

EOG Resources (EOG) has an average rating of overweight and mean price target of $161.07, 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)

$EOG

Equities1d ago

Palm-oil Producer AEP Plantations to Implement Share Split

AEP Plantations (AEP.L) proposed to implement a share split, subdividing each ordinary share of 0.25 pound sterling into 10 ordinary shares of 0.025 pound each.The palm-oil producer said Monday that the share split, due to take effect on Thursday when the new shares start trading on the London stock exchange's main market, is intended to improve the affordability of the shares to investors on a per-share basis.

$AEP.L

Equities1d ago

Thai Oil Denies Involvement in Illicit Stockpiling Amid Hormuz Shipping Scrutiny

Thai Oil (BKK:TOP) has issued a clarification rejecting any involvement in alleged oil stockpiling linked to recent news reports referencing disruptions around the Strait of Hormuz and marine fuel transport activities.The company said its operations are strictly conducted under FOB (Free on Board) terms, meaning its responsibility ends once oil is loaded onto vessels, with all subsequent transport decisions, routing and storage handled by buyers and shipping operators, according to a Monday Thailand Exchange filing.It added that all documentation related to marine fuel shipments complies with legal requirements and has been submitted to Thailand's Department of Special Investigation for review.

BKK:TOP

Equities1d ago

DNO Updates Resource Estimate at North Sea Carmen Appraisal Well

DNO (DNO.OL) said Monday an appraisal well at Norwegian North Sea license PL1148 further delineated the 2023 Carmen gas-condensate discovery, now estimating recoverable resources at 21 million to 107 million barrels of oil equivalent.The well encountered most volumes in the Etive Formation, where reservoir quality is moderate to poor, and the partnership is considering hydraulic fracturing to improve recovery. Further appraisal and exploration drilling are under review.The Norwegian oil and gas operator DNO, Wellesley Petroleum and Equinor's (EQNR.OL) Equinor Energy each hold 30% stakes in the license, with the remaining 10% owned by Aker BP (AKRBP.OL). The partners are assessing a potential tieback to nearby infrastructure, including the Kvitebjørn platform.

$AKRBP.OL$DNO.OL$EQNR.OL

Equities1d ago

Europa Oil & Gas Extends Longstop Date for Farm-out Deal with Fuhai

Europa Oil & Gas (EOG.L) said Monday the longstop date for a farm-out deal regarding a 40% interest in the EG-08 production sharing contract in offshore Equatorial Guinea was extended to July 31.The deal was signed by the oil and gas explorer's associate Antler Global with Fuhai Group New Energy Holding subsidiary Fuhai (Beijing) Energy.The deal is still subject to the Shandong Provincial government's Overseas Direct Investment approval.

$EOG.L

Equities1d ago

Berenberg Notes 'More Competitive' Distribution Outlook from Equinor; Price Target, Estimates Revised

Berenberg highlighted Equinor's (EQNR.OL) "more competitive" distribution guidance as the research firm revised its price target and earnings forecasts for the Norwegian energy company."Equinor held a capital markets day (CMD) on 16 June, outlining improved shareholder returns and more clarity on the distribution policy. The company also slightly increased its 2030 production targets, indicated a focus on fast payback, higher return investments in Norway, and is confident that growth in the international portfolio will deliver significant unit cost improvements. In our view, the headline messages were positive and the updated distribution guidance provides helpful clarity and provides confidence in the medium-term yield," the research firm said in a note published June 19, 2026.Equinor plans to double its 2026 share buyback to $3 billion, which Berenberg analysts said implied a total shareholder yield of 9%. Starting in 2027, share repurchases are projected to come in between $2 billion and $4 billion, contingent on commodity prices and other factors.Meanwhile, dividend per share is expected to grow by at least 5% annually, which analysts expect will drive overall yield to over 10% by the end of the decade.Within this context, Berenberg lowered its price target to 320 Norwegian kroner from 365 kroner and reiterated its hold rating. The research firm also adjusted EPS assumptions for full-year 2026 to 2028 by 14.2%, 7.8% and 16.9%, respectively.

$EQNR.OL

Equities1d ago

Yanbu Cement Flags Higher Production Cost from Saudi Aramco's Fuel Products Price Adjustment

Yanbu Cement (SASE:3060) expects a 4% rise in production cost due to Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco's, adjustment of fuel products prices.The cement maker said that the financial impact was reflected in its first-quarter financial statements, according to a Sunday release. Yanbu Cement added that the impact was mitigated due to its participation in the industrial sector competitiveness program.

SASE:2222SASE:3060

Equities4d ago

Market Chatter: Adnoc Reportedly Launches Fourth Crude Oil Tender

Abu Dhabi National Oil Co., d/b/a Adnoc, launched its fourth tender for up to 2 million barrels of Upper Zakum, Umm Lulu, and Das crude for loading between June and August, Reuters reported Friday, citing trade sources.The bidding process will close on June 23, with offers remaining valid until June 25. The sources added that cargoes will be priced against the official selling prices, the Dubai benchmark, or other benchmarks.Adnoc 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.)

^FADGI

Equities4d ago

Bernstein Maintains Arabian Drilling at Outperform, Raises PT

Bernstein on Friday raised the price target for oilfield services company Arabian Drilling Co. (SASE:2381) to 115.44 Saudi riyals from 109.30 riyals, while keeping its outperform 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:2381

Equities4d ago

OGDCL Increases Stake in Pakistani Gas Field

Oil and Gas Development (OGDC.L), d/b/a OGDCL, said Friday it completed the process to boost its ownership in the Qadirpur gas field in Pakistan.The state-owned oil and gas company increased its shareholding to 83% from 75% through a farm-in agreement with Kufpec Pakistan that was first announced last January.

$OGDC.L

Equities4d ago

CNG Services Assets Withdraws ReFuels Stake Sale Plan

ReFuels (REFL.OL) shareholder CNG Services Assets withdrew its plans to sell its stake in the renewable biomethane supplier.CNG Services said Friday it will retain 12,034,083 ReFuels shares, reflecting a 19.92% stake.

$REFL.OL

Equities4d ago

Update: Market Chatter: Uniper Sale Gains Momentum Amid Interest from 10 Bidders

(Updates to add Uniper, La Caisse and Jera's statements)German state-owned utility Uniper (UN0.F) received expressions of interest from around 10 prospective buyers as of the June 12 deadline, Bloomberg News wrote Thursday, citing people familiar with the matter.New bidders consist of KKR & Co., Japan's Jera, and Canadian pension fund Caisse de dépôt et placement du Québec, the sources said. Equinor (EQNR.OL), RWE (RWE.F), and Brookfield Asset Management in a consortium with Canada Pension Plan Investment Board, Vattenfall, Fortum (FORTUM.HE), Czech billionaire Daniel Křetínský's EPH, and TotalEnergies (TTE.PA, TTE.L, TTE.BR) also expressed interest in Uniper, according to the report.In an emailed statement to, Finnish state-owned Fortum said it does not comment on any possible ongoing processes, but is "always interested" in discussing the potential acquisition of hydro and nuclear power, including Uniper's Swedish assets.CPP Investments had no comment, while Uniper and La Caisse declined to comment. Jera said it does not comment on market speculation. KKR, Equinor, RWE, Brookfield, Vattenfall, EPH, and TotalEnergies did not immediately respond to requests 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.)

$EQNR.OL$FORTUM.HE$RWE.F$TTE.BR$TTE.L$TTE.PA$UN0.F

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