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Correction: Market Chatter: Saudi Aramco May Cut Crude Oil Supply to European Refiners After Pipeline Attacks

(Corrects to remove company names not mentioned in source article.)European refiners may not be allocated any crude oil next month after Saudi Arabia's main pipeline to the Red Sea was attacked, Bloomberg reported Friday.Saudi state-owned oil and gas company Saudi Aramco told at least two European oil refining firms that they will not receive crude oil next month due to the fighting, according to the report, which added that European customers normally receive a continuous flow of supply every month.The East-West pipeline was shut last week after drone attacks, according to Bloomberg. The line is expected to partially resume operations within days and return to full service within six weeks, a person familiar with the situation told the news outlet.Saudi Aramco didn't 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.)

$BP$EQNR$SHEL$TTE

Equities3d ago

AlphaValue/Baader Europe Boosts Aker BP Forecasts on Higher Oil, Gas Price Assumptions

AlphaValue/Baader Europe raised its forecasts for oil and gas exploration and production company Aker BP (AKRBP.OL), taking into account a higher commodity price deck."The main driver is the price deck: we now take Brent to USD 91.5/bbl in 2026 from USD 87/bbl and USD 78/bbl in 2027 from USD 72/bbl, while European gas moves to EUR 57/MWh from EUR 55/MWh in 2026 and EUR 53/MWh from EUR 47/MWh in 2027. The second leg is volumes. We raise the lower end of 2026 guidance to 380-400 kboe/d, while Skarv Satellites adds production from late 2026 and Yggdrasil and Valhall PWP-Fenris drive the step-up from 2027," analysts wrote in a Friday note. "Management expects production to increase by around 35% between 2026 and 2028, giving Aker BP significant operating leverage to the stronger commodity assumptions."As such, EPS projections for 2026 and 2027 were increased by 35.5% and 21.8%, respectively, to $4.46 and $3.77.The research firm has a sell rating on the stock, with a price target of 328 Norwegian kroner.

$AKRBP.OL

Equities3d ago

Market Chatter: Saudi Aramco Said to Halt European Crude Deliveries in October

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, informed at least two European oil refineries that there will be no crude allocations in October, Bloomberg News reported Friday, citing people familiar with the matter.European buyers typically rely on term contracts to guarantee a predictable flow of monthly crude deliveries, and the Saudi oil producer's decision is applicable to all European buyers, the report said.The supply halt follows the recent drone attack on Saudi Arabia's East-West pipeline, which is expected to resume partial operations soon, with a return to full capacity estimated in six weeks.Saudi Aramco 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.)

SASE:2222

Equities3d ago

Update: Market Chatter: Saudi Aramco May Cut Crude Oil Supply to European Refiners After Pipeline Attacks

(Update to add stock symbols)TotalEnergies SE (TTE), BP (BP), Shell (SHEL), Equinor (EQNR) and other major European oil refiners may not be allocated any crude oil next month after Saudi Arabia's main pipeline to the Red Sea was attacked, Bloomberg reported Friday.Saudi state-owned oil and gas company Saudi Aramco told at least two European oil refining firms that they will not receive crude oil next month due to the fighting, according to the report, which added that European customers normally receive a continuous flow of supply every month.The East-West pipeline was shut last week after drone attacks, according to Bloomberg. The line is expected to partially resume operations within days and return to full service within six weeks, a person familiar with the situation told the news outlet.Shares of the four companies were trading lower Friday pre-bell.Saudi Aramco didn't 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.)

$BP$EQNR$SHEL$TTE

Equities3d ago

Market Chatter: Saudi Aramco May Cut Crude Oil Supply to European Refiners After Pipeline Attacks

TotalEnergies (TTE), BP (BP), Shell (SHEL), Equinor (EQNR) and other major European oil refiners may not be allocated any crude oil next month after Saudi Arabia's main pipeline to the Red Sea was attacked, Bloomberg reported Friday.Saudi state-owned oil and gas company Saudi Aramco told at least two European oil refining firms that they will not receive crude oil next month due to the fighting, according to the report, which added that European customers normally receive a continuous flow of supply every month.The East-West pipeline was shut last week after drone attacks, according to Bloomberg. The line is expected to partially resume operations within days and return to full service within six weeks, a person familiar with the situation told the news outlet.Shares of the four companies were trading lower Friday pre-bell.Saudi Aramco didn't 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.)

Equities3d ago

Petrobras Enters 8 Offshore Exploration Blocks in Cote D'Ivoire

Petrobras' (PBR) unit Petrobras Netherlands signed production sharing contracts for eight offshore exploration blocks in Cote d'Ivoire, the company said Thursday.The company said it will hold a 90% interest in the blocks and serve as operator, while PETROCI Holding will hold the remaining 10% interest.The agreements expand Petrobras' exploration portfolio in the African equatorial margin and support its strategy to replenish oil and gas reserves through new exploration frontiers, it added.

$PBR

Equities3d ago

BofA Upgrades Equinor Rating, Price Objective on Higher Gas Price Forecasts

BofA Global Research upgraded Equinor (EQNR.OL) to buy from neutral, after the research firm revised its gas price expectations upward."For >6 months now, our European [Title Transfer Facility] gas price forecasts have followed spot higher - alongside our [price objective] following Equinor's share price higher without leaving significant upside throughout. However, this week our Commodities Research colleagues upgraded their TTF forecast to average [EUR95 per megawatt-hour (~$32 per million British thermal units)] this winter - >20% above strip despite assuming Strait of Hormuz transits restart over the same timeframe," according to a Friday note.The research firm now expects the Norwegian energy company to exit 2027 with over $10 billion in net cash, creating upside potential for BofA's unchanged $4 billion buyback estimate. After raising their free cash flow assumption by 23% for full-year 2026 and 2027, analysts noted their estimates now sit 140% ahead of Visible Alpha consensus for 2027.As a result, BofA raised its price objective to 465 Norwegian kroner from 400 kroner.

$EQNR.OL

Equities3d ago

Market Chatter: Equinor Signs Long-Term LNG Supply Deal With Thailand's PTT Trading

Equinor (EQNR) said Friday that it signed a long-term agreement with Thailand's PTT Trading to supply liquefied natural gas, Reuters reported, citing a statement from the company.Equinor already supplies crude oil and refined products to PTT Trading, the report said.The Norwegian company did not disclose the contract's duration, supply volume or commercial terms, it added.Equinor 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.)

$EQNR

Equities3d ago

BP to Sell 5% Stake in Australia Project to Osaka Gas

BP's (BP.L) BP Developments Australia agreed to sell a 5% interest in the Woodside Energy-operated Browse Project offshore Western Australia to Osaka Gas Co.'s group company Osaka Gas Browse.Osaka Gas Browse will be jointly funded by Osaka Gas Australia and the Japan Organization for Metals and Energy Security, according to a Friday release.The Browse Project, which is advancing toward front-end engineering and design, comprises three offshore gas fields and includes carbon capture and storage into its design.

$BP.L

Equities3d ago

BP to Sell 5% Stake in Western Australia LNG Project to Osaka Gas

BP (BP) Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse, Osaka Gas said Friday.Osaka Gas said that the purchase will be funded by Osaka Gas Australia and the Japan Organization for Metals and Energy Security.The project --, currently progressing towards the front-end engineering and design stage -- proposes the development of the Brecknock, Calliance, and Torosa offshore gas fields, with the project operated by Woodside Energy (WDS), Osaka Gas said.BP shares were down 1.5% in premarket activity.

$BP$WDS

Equities3d ago

Orlen Seeks New Crude Oil Suppliers Amid Middle East Tensions, CEO Says

Orlen (PKN.WA) is looking for new sources of crude oil after the geopolitical situation in the Middle East disrupted deliveries from key partner Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, Bloomberg News reported Friday, citing its Chief Executive Officer Ireneusz Fąfara.Fąfara said the move is the Central and Eastern Europe-focused oil company's longer-term goal, adding that the company is also exploring ways to increase its own reserves.

$PKN.WASASE:2222

Equities3d ago

Market Chatter: Saudi Aramco Raises Gulf Crude Exports Via Ras Tanura

Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, increased crude exports from its Ras Tanura terminal inside the Strait of Hormuz to 60 million barrels, Reuters reported Friday, citing multiple trade sources.The crude is expected to be transferred ship-to-ship at the Omani port of Sohar in September and October, boosting the state-backed oil major's Gulf exports to 1 million to 1.5 million barrels per day on average, according to the report.Chinese and South Korean refiners are among the largest buyers of the spot cargoes, alongside buyers in India and Japan, the report added.Aramco 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.)

SASE:2222

Equities3d ago

BP Indiana Refinery, Union Schedule Another Meeting for Tuesday

BP (BP) said Thursday that representatives from its refinery in Whiting, Indiana, will meet again with the United Steelworkers Local 7-1 union Tuesday to continue discussions regarding the ongoing labor dispute.While previous conversations were "constructive," the parties are still working on "several key issues," BP said."The refinery continues to operate safely, reliably and compliantly, with no impact to operations as a result of the current labor dispute," the company said.BP shares were down 1.7% in premarket activity Friday.

$BP

Equities3d ago

Técnicas Reunidas Says Court Lifts EUR133 Million Bapco Bond Restrictions

Técnicas Reunidas (TRE.MC) said Friday that a Spanish court on Thursday lifted interim measures that prevented Bapco from drawing 133 million euros in bonds relating to the Sitra Refinery project in Bahrain.The contractor consortium, of which Técnicas Reunidas is a member, has begun arbitration proceedings in the London court against Bapco and is in talks with the client, the energy-focused engineering and construction company said.Separately, an arbitration award ordered MGT Teesside to pay 120 million euros to a consortium formed by Técnicas Reunidas and Samsung over the termination of a contract and enforcement of performance bonds.The two events are expected to result in a net 49 million-euro cash outflow for Técnicas Reunidas.

$TRE.MC

Equities3d ago

TotalEnergies Partners With Global Infrastructure Partners in $1.8B African Infrastructure Deal

TotalEnergies (TTE) partnered with BlackRock-owned (BLK) Global Infrastructure Partners to manage its African oil and gas infrastructure assets, the energy major said Friday.Under the deal, GIP will invest $1.8 billion for a stake in some of TotalEnergies' midstream infrastructure assets in Africa, the company said.TotalEnergies will pay Global Infrastructure Partners a "throughput-based tariff" for up to 15 years, it said.

$BLK$TTE

Equities3d ago

TotalEnergies, Global Infrastructure Partners Strike $1.8 Billion African Assets Partnership

TotalEnergies (TTE.PA, TTE.L) entered a partnership with Global Infrastructure Partners, a part of BlackRock, covering the French energy group's interests in certain oil and gas infrastructure assets in Africa.Global Infrastructure Partners will contribute $1.8 billion in capital, while TotalEnergies will pay the infrastructure investor a throughput-based tariff for up to 15 years, according to a Friday filing.

$TTE.L$TTE.PA

Equities3d ago

Vallourec to Supply Tubular Systems for Greek Carbon Storage Project

Vallourec (VK.PA) secured a tubular systems order from Energean (ENOG.L) unit EnEarth for phase one of the Prinos CO2 Carbon Storage project in Greece.The steel tubes company will supply 3,000 tons of seamless carbon steel and corrosion-resistant alloy casing pipes with its Cleanwell multi-function coating, according to a Friday release.

$ENOG.L$VK.PA

Equities3d ago

BP Agrees to Meet Again with Representatives of Workers at US Refinery

BP (BP.L) agreed to meet again with the elected representatives of the United Steelworkers union on Sept. 22 to discuss a labor agreement for its Whiting refinery in the US.The parties agreed on the schedule during a meeting on Thursday, according to a same-day release. The oil and gas company said the conversations were "constructive" and that both parties continue to work on several key issues of the deal.Amid the talks, BP assured that the ongoing labor dispute is not affecting operations at the site.

$BP.L

Equities4d ago

Market Chatter: Saudi Aramco Reportedly Bids for Fuel Cargoes in Europe, Mediterranean

Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, has been bidding for diesel cargoes in the Mediterranean, Bloomberg News reported Thursday, citing brokers who monitor S&P Global Energy's Platts pricing window.Sources told the news outlet that the Saudi Arabian state-owned oil giant has also been seeking to secure gasoline in Europe.Saudi Aramco 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.)

^SXXPSASE:2222

Equities4d ago

DNB Carnegie Kicks Off Ithaca Energy Coverage at Buy

DNB Carnegie on Wednesday launched coverage of British oil and gas exploration and production company Ithaca Energy (ITH.L) with a buy rating and a price target of 3.25 pounds sterling.

$ITH.L

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