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Ades Holding Inks Deal with Valeura Energy for Offshore Drilling in Thailand

Saudi drilling services company Ades Holding (SASE:2382) said Wednesday it signed a deal with Valeura Energy for offshore shelf drilling in Thailand.The three-year contract is valued at 345 million Saudi riyals, with operations expected to start in the fourth quarter.

$SASE:2382

Equities17d ago

Aljazira Capital: Higher Crude Oil Prices to Bolster Saudi Aramco's Q1 Profitability

Aljazira Capital expects Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to see strong topline growth and improved profitability in the first quarter, bolstered by higher crude oil prices.Aramco is anticipated to report a 13.8% year-over-year jump in net income, after minority, to 108.8 billion Saudi riyals, while revenue is seen growing 6% to 455.3 billion riyals, according to a Wednesday note.For full-year 2026, net income and revenue are projected to increase 22.6% and 14.1% on an annual basis, respectively, to 427 billion riyals and 1.908 trillion riyals."We expect higher crude oil prices this year and flexibility to divert exports from east to west coast to reflect positively on Aramco's revenue and earnings in FY26E," the research firm said. "Our estimates assume an average oil price of around USD 86/bbl, about 27%. However, total hydrocarbon output is projected at 12.8 mmboed, including crude oil production of 9.4 mbpd. Our assumptions are based on energy supply routes and production level returning to normalcy by Q3-26, while oil prices will continue to hold certain geopolitical premium throughout the year."

$SASE:2222

Equities17d ago

Borregaard to Issue NOK300 Million Commercial Paper

Borregaard (BRG.OL) will issue a commercial paper of 300 million Norwegian kroner on Friday.The commercial paper carries a coupon of 4.62% and will mature on Oct. 24, 2026, the biorefinery operator said Wednesday.

$BRG.OL

Equities17d ago

RBC Raises Price Target on BP to GBP7 From GBP6.40, Keeps Sector Perform Rating

BP's (BP) London stock has an average rating of overweight and mean price target of GBP6.18, 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)

$BP

Equities17d ago

Royal Vopak Shareholders Approve FY25 Dividend

Koninklijke Vopak (VPK.AS) said Wednesday its shareholders approved the proposed dividend of 1.80 euros per share for 2025 at the annual general meeting held the same day.The dividend is payable on April 30. The tank storage company previously paid a dividend of 1.60 euros per share.

$VPK.AS

Equities17d ago

EU Moves to End Fossil Fuel Reliance with New AccelerateEU Plan

The European Commission on Wednesday introduced a comprehensive strategic package designed to shield the bloc's citizens from volatile fossil fuel markets while accelerating the transition to a "clean, homegrown energy."The AccelerateEU strategy outlines immediate relief measures, including the establishment of a new Fuel Observatory to monitor stocks and prevent shortages, along with targeted financial support, including energy vouchers and tax breaks for vulnerable households. Addressing long-term independence, the commission plans to present an Electrification Action Plan by the summer of 2026, aiming to replace oil and gas with renewables across the industrial, building and transport segments.To fund the transition, which requires an estimated 660 billion euros in annual investment through 2030, the commission intends to leverage existing resources, such as the Recovery and Resilience Facility, alongside private financing.The proposal follows calls from European Union leaders as oil prices surged due to the conflict in the Middle East. The measures are expected to be discussed at the Informal European Council in Cyprus from Thursday to Friday.

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Equities17d ago

Market Chatter: Exxon Mobil Weighs Divestment of Hong Kong Fuel Retail Business

Exxon Mobil (XOM) is considering a sale of its Esso-branded gas station network in Hong Kong, with the assets valued at about $500 million to $600 million, Bloomberg reported Wednesday, citing people familiar with the matter.The move is part of Exxon's broader effort to streamline its global retail footprint as it reviews downstream assets in markets including France, New Zealand, and Hong Kong, the report said.Exxon Mobil 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.)

$XOM

Equities17d ago

Scotiabank Adjusts Price Target on Chevron to $187 From $168, Maintains Sector Perform Rating

Chevron (CVX) has an average rating of overweight and mean price target of $211.17, 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)

$CVX

Equities17d ago

Scotiabank Adjusts Price Target on Exxon Mobil to $163 From $128, Maintains Sector Outperform Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $165.35, 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)

$XOM

Equities17d ago

Prospex Energy Wins Second Onshore License in Poland

Prospex Energy (PXEN.L) said Wednesday its unit PXEN Tatra secured the Dunajec onshore license area in southern Poland, marking its second license award in the country.The gas and power-focused investor intends to deploy modern imaging, evaluation and development techniques to support resource discovery and development at the site, which sits within one of the most prolific gas regions in Poland.The license area also includes a shallow undeveloped oil discovery with potential for near-term commercialization.

$PXEN.L

Equities17d ago

Dana Gas Resumes Trading on Abu Dhabi Bourse

Dana Gas (ADX:DANA) recommenced trading on the Abu Dhabi bourse on Wednesday, according to a same-day notice.The trading suspension started Tuesday and was lifted after the natural gas company disclosed its meeting results.

$ADX:DANA

Equities17d ago

EnQuest Prices $675 Million Notes Due 2031

EnQuest (ENQ.L) priced its offering of $675 million worth of 9.875% senior notes due 2031 at an issue price of 99.038%, according to a Wednesday filing.The British energy transition company will use the proceeds to redeem $465 million of its senior notes due 2027, while strengthening liquidity and supporting general corporate purposes.A portion of the proceeds will also be allocated to fees and costs related to the offering.

$ENQ.L

Equities17d ago

AkzoNobel Kept at Buy as Berenberg Notes 'Good Way' to Invest in Potential Iran War De-escalation

Berenberg maintained its buy rating on AkzoNobel (AKZA.AS), saying the paint and coatings company's shares present a "good way to invest" in the potential de-escalation of the conflict in Iran."Paint and coatings names usually benefit when oil prices are lower, owing to the ability to expand margins with lower raw material costs. Every USD10/barrel share decline in oil price has historically been associated with a EUR3/share increase in AkzoNobel's share price. Oil futures curves foresee a USD20/barrel decline over the next two years to cUSD75/barrel. We remain Buy-rated, but trim our price target to EUR66 (from EUR75)," analysts said in a Tuesday note.The research firm also highlighted the ongoing progress in the Dutch company's merger with US-based paint manufacturer Axalta Coating Systems, with analysts expecting the latter to help AkzoNobel with its cost management, an area the company has "struggled" with at times.On the financials side, analysts reduced their EPS estimates for 2026 through 2028 to account for "modestly lower" volumes, particularly in Europe. Conversely, Berenberg raised its sales forecast for AkzoNobel over the same three-year period.

$AKZA.AS

Equities17d ago

Helium Exploration Group Rift Helium Kicks off Trading on London Bourse

Helium exploration and development company Rift Helium (RIFT.L) started trading on the London stock exchanges' AIM segment on Wednesday, according to a same-day filing.Rift Helium also raised 8.1 million pounds sterling through a share placement and subscription of 80,855,000 new shares. The company has 134,142,041 shares in issue and a market cap of 13.4 million pounds.

$RIFT.L

Equities17d ago

Haffner Energy to Participate in Two Indian Infrastructure, Clean Technology Projects

Haffner Energy (ALHAF.PA) said Tuesday it will supply its proprietary technology for two large-scale infrastructure and clean technology projects in India.The Indian Maharashtra state government signed a 15 billion-euro deal with JW Global Group and The Seed Consortium Partners to invest in four infrastructure and clean technology projects. The French clean energy company will be a green-hydrogen technology partner for two of the projects.For a 1.4-gigawatt AI-focused campus and data center, representing 10.4 billion euros in investment, Haffner Energy will support the production of renewable hydrogen and energy from local residual biomass resources. It will also supply its Synoca biomass gasification technology for a 280 million-euro green-hydrogen production plant.

$ALHAF.PA

Equities17d ago

UK Strengthens Energy Regulator's Powers to Protect Consumers

The UK government implemented a comprehensive overhaul of the Office of Gas and Electricity Markets, or Ofgem, to boost the regulator's capabilities to protect consumers.According to a Wednesday public notice, the reforms marked the first major update in the energy regulator's mandate since it was established in the year 2000.The overhaul gave the regulator new powers, including the capability to directly enforce consumer law, measures to ban energy company bonuses if they break the rules, and streamline its remit to increase focus on economic and consumer protection.

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Equities18d ago

EQT Q1 Adjusted Earnings, Revenue Rise

EQT (EQT) reported Q1 adjusted earnings late Tuesday of $2.33 per diluted share, up from $1.18 a year earlier.Analysts surveyed by FactSet expected $2.08.Total operating revenue for the three months ended March 31 was $3.38 billion, up from $1.74 billion a year earlier.Analysts polled by FactSet expected $3.22 billion.

$EQT

Equities18d ago

US Extends Ceasefire With Iran, Trump Says

US President Donald Trump said in a Truth Social post that the US will extend its ceasefire with Iran at Pakistan's request.Trump also said Tuesday he has ordered the US to continue the blockade on the Strait of Hormuz.Plans for diplomatic talks had been scrapped.

Equities18d ago

Magnora Proposes Successor to Outgoing Chairman

Magnora (MGN.OL) said Tuesday that Chairman Torstein Sanness will step down but remain an adviser to the company.The renewable energy group's nomination committee proposed the appointment of board member John Hamilton as the new chairman, subject to shareholder approval at the annual general meeting on May 12.Magnora noted that Hamilton is also the chief executive officer of oil and gas company Panoro Energy (PEN.OL).

$MGN.OL$PEN.OL

Equities18d ago

Sunoco Boosts Quarterly Dividend by $0.0582 to $0.9899 per Unit, Payable May 20 to Holders of Record as of May 8

$SUN$SUNC

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