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Eni Reports Gas Discovery Offshore Indonesia

Eni (E) said Monday it has made gas discovery in the Kutei Basin off the coast of Indonesia.Preliminary estimates indicated about 5 trillion cubic feet of gas and 300 million barrels of condensate, the company said.A drill stem test is planned to assess reservoir productivity, Eni said.

Equities19d ago

Okea to Sell 20% Stake in Norwegian Sea License for $30 Million

Okea (OKEA.OL) said Monday it agreed to sell its 20% working interest in PL1119, or Mistral, located in the Norwegian Sea, for $30 million.The license stake is being sold to Japex Norge, subject to customary government approvals. Okea noted that the deal also includes a contingent consideration that provides an upside in case of a commercial Mistral Nord discovery.

$OKEA.OL

Equities19d ago

Germany-owned Sefe Plans to Sell Up to EUR2 Billion of Shares

German government-owned Securing Energy for Europe, or Sefe, is aiming to raise between 1.5 billion euros and 2 billion euros from an offering of shares, London's Financial Times reported Monday.Formerly named Gazprom Germania, the company fell under German government ownership after its seizure in 2022, following Russia's attack on Ukraine. Sefe Chief Executive Officer Egbert Laege said the targeted funds are earmarked for the expansion of the group's infrastructure management business.The executive said they are engaging the German government regarding preferences or restrictions on the offering. The offering will be carried out in line with the European Commission's requirement for the German government to sell at least a 75% stake in Sefe by the end of 2028.

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Equities19d ago

Riyad Capital Notes Ades Holding's 'Strong' Results; Rating Updated

Riyad Capital on Sunday updated its rating for Ades Holding (SASE:2382), noting the oil and gas drilling company's "strong" 2025 report and ongoing geographical diversification.Ades Holding logged a 27% year-on-year increase in its fourth-quarter 2025 sales to 1.99 billion Saudi riyals, in line with the research firm's forecast of 1.93 billion Saudi riyals. The company also recorded net profit of 221 million riyals, up 7% year over year and aligned with Riyad Capital's 210 million-riyal estimate.Analysts noted management comments on steady utilization rates, which remained at 98%, as the company continues to expand its geographical footprint. This diversification strategy is seen by the research firm as "significantly important" amid the current landscape."We remind investors that the acquisition of Shelf expanded ADES' rig count by 33, as well as the geographic exposure to West Africa, Norway, Denmark, the UK, and India (among others). These factors will produce noise in the financials for 1Q26. With growth in geographical exposure, which we note has deepened in Southeast Asia, West Africa, and Brazil, we highlight that in the uncertain energy market this adds to ADES' defensiveness. Despite lower [free cash flow to the firm] multiples (TTM) and a higher dividend, we downgrade the rating as the stock price has appreciated. We may revisit the rating with more visibility," the note said.As such, the stock's rating was changed to neutral, with a price target of 21 riyals. In a Nov. 10, 2025 note, Riyad Capital had a buy rating for the company.

$SASE:2382

Equities19d ago

Saipem Bags EUR700 Million Contract with Eni for Biorefinery Project in Italy

Saipem (SPM.MI) secured a contract worth 700 million euros to provide engineering, procurement, and construction services for a new biorefinery project in Sicily, Italy.The Italian energy company's Eni Industrial Evolution subsidiary is commissioning the Priolo biorefinery project, according to a Monday release. The development will feature a new plant that will produce sustainable bio-jet fuel and hydrotreated vegetable oil diesel.The Italian oilfield services company expects to complete works under the contract by the end of 2028.

$ENI.MI$SPM.MI

Equities19d ago

Odfjell Drilling Pauses Rig Operations Following Blowout Preventer Incident

Odfjell Drilling (ODL.OL) said Monday that a blowout preventer fell to the seabed at a depth of 1,100 meters during operations on April 18.No injuries were reported, and the rig remains secure.However, the drilling company has halted operations while it recovers the equipment and investigates the cause of the incident.

$ODL.OL

Equities19d ago

TGS Bags Data Acquisition Contract Extension in Gulf of America

TGS (TGS.OL) secured a three-year extension in its ongoing data acquisition contract in the Gulf of America.The contract covers proprietary ocean bottom node data acquisition, the energy data and intelligence company said Monday.

$TGS.OL

Equities19d ago

Odfjell Drilling Wins Appeal Against Administrative Tax Action in Norway

Odfjell Drilling (ODL.OL) won its appeal against an adverse 2022 administrative tax decision by the Norwegian Tax Authorities.The Gulating Court of Appeal issued its verdict on the Norwegian drilling and engineering company's appeal on April 17, according to a same-day release. The tax regulator has one month to appeal.

$ODL.OL

Equities21d ago

S&P 500 Posts Weekly Gain, Closes at Record High, as Iran Reopens Strait of Hormuz

The Standard & Poor's 500 index rose 4.5% this week to a record close as investors grew more optimistic about the situation in the Middle East after Iran said the Strait of Hormuz was open.The S&P 500 ended the week at 7,126.06, its highest closing level ever. The market benchmark also reached a fresh intraday high on Friday of 7,147.52.The weekly climb -- its third in a row -- moved the S&P 500 back into positive territory for the year to date. It is now up 4.1% for 2026 and 9.2% for April.President Donald Trump said Iran agreed to suspend its nuclear program indefinitely and won't receive any frozen funds from the US, Bloomberg reported. Trump said in a phone interview on Friday that a deal to end the war is mostly complete and talks over a lasting agreement will "probably" be held this weekend, according to the Bloomberg news report.Earlier Friday, Iran announced the reopening of the Strait of Hormuz for the remainder of the US-Iran ceasefire period.The technology sector had the largest percentage gain this week across the S&P 500's 11 sectors, jumping 8.1%, followed by a 6.6% climb in consumer discretionary and a 6.3% advance in communication services. Real estate and financials were also strong, rising more than 3% each, while industrials and health care also edged higher.Oracle (ORCL) shares led the technology sector's advance, soaring 27%. The company said it plans to expand its multi-cloud networking capabilities to provide connectivity between Oracle Cloud Infrastructure and Amazon's (AMZN) Amazon Web Services.The consumer discretionary sector was boosted by a 15% jump in Tesla (TSLA) shares. The electric vehicle maker is developing a new compact, lower-cost electric SUV as it looks to expand its lineup beyond the Tesla Model Y and Tesla Model 3, according to a Reuters report citing unnamed sources familiar with the matter. Also, Tesla is planning to launch a six-seat, long-wheelbase version of the Model Y in India as early as next week, Bloomberg reported, citing unnamed sources.Four sectors declined this week, led by a 3.5% drop in energy and a 1.7% slip in utilities. Materials and consumer staples also edged lower.The energy sector's drop came as crude oil futures fell amid Iran's announcement reopening the Strait of Hormuz. The hardest-hit stocks included shares of Coterra Energy (CTRA), Devon Energy (DVN) and APA Corp. (APA), which shed 7.5% each.Quarterly earnings are expected next week from companies including Tesla, GE Aerospace (GE), GE Vernova (GEV), UnitedHealth Group (UNH), Philip Morris International (PM), International Business Machines (IBM), AT&T (T), Boeing (BA), Intel (INTC), American Express (AXP), Union Pacific (UNP), and Procter & Gamble (PG).Economic data will include March retail sales and pending home sales as well as a final reading on April consumer sentiment.

$^DJI$^IXIC$^SPX$APA$CTRA$DVN$ORCL$TSLA

Equities22d ago

Borr Drilling Wraps Up Offering of 2033 Convertible Notes

Borr Drilling (BORR.OL) sold a total of $300 million in its recently completed offering of unsecured convertible senior notes due May 1, 2033.The notes carry an interest of 3.50% per annum and are convertible into the drilling contractor's common shares, cash, or a combination of the two, according to a Friday release.Borr Drilling earmarked proceeds to buy back existing convertible bonds due 2028 and for general corporate needs.

$BORR.OL

Equities22d ago

Market Chatter: Kazakhstan Court Said to Uphold Environmental Fine on Oil Majors Over Kashagan Field

A court in Kazakhstan upheld a 2.36 trillion-Kazakhstani-tenge environmental fine imposed on the operator of Kazakhstan's Kashagan oilfield for storing excessive amounts of sulfur at the site in an April 8 ruling, Bloomberg News reported Friday.North Caspian Operating Co, the field's operator, is jointly owned by Kazakhstan's KazMunayGas, Eni (ENI.MI), Shell (SHEL.L, SHELL.AS), ExxonMobil (XONA.F), TotalEnergies (TTE.PA, TTE.L, TTE.BR), China National Petroleum Corp., or CNPC, and Inpex.People familiar with the matter said the venture can still pursue a cassation appeal even if the decision has entered into legal force, the report noted.KazMunayGas, Eni, Shell, ExxonMobil, TotalEnergies, CNPC, and Inpex 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.)

$ENI.MI$SHEL.L$SHELL.AS$TTE.BR$TTE.L$TTE.PA$XONA.F

Equities22d ago

Citigroup Adjusts Price Target on Diamondback Energy to $225 From $230, Maintains Buy Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $218.76, 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)

$FANG

Equities22d ago

Citigroup Adjusts Price Target on APA to $40 From $45, Maintains Neutral Rating

APA (APA) has an average rating of hold and mean price target of $39.90, 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)

$APA

Equities22d ago

Citigroup Adjusts Price Target on Occidental Petroleum to $62 From $67, Maintains Neutral Rating

Occidental Petroleum (OXY) has an average rating of hold and mean price target of $63.40, 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)

$OXY

Equities22d ago

Kazakhstan Court Upholds $5 Billion Kashagan Sulfur Fine Against Consortium Including Exxon, Shell, TotalEnergies

An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Company, the operator of Kazakhstan's Kashagan oil field, whose shareholders include KazMunayGas, Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), Eni (E), Inpex and China National Petroleum, Bloomberg reported Friday.Kazakhstan's Ministry of Ecology and Natural Resources told Bloomberg that the April 8 ruling confirmed penalties tied to excessive sulfur storage at the field. The decision has entered into legal force, the report said.The penalty is tied to a wider $166 billion arbitration dispute over environmental claims and state revenue from the project, the report added. Kashagan remains central to Europe's supply shift away from Russian energy after Russia's invasion of Ukraine, it said.Exxon Mobil, Shell, TotalEnergies, Eni, Inpex and China National Petroleum did not immediately respond to' request for comment.

$E$SHEL$TTE$XOM

Equities22d ago

Petroleo Brasileiro to Take Over Operations at Offshore African Oil Block

Petroleo Brasileiro (PBR) said Friday it signed an agreement with Oranto Petroleum to purchase a 75% working interest and assume operatorship of Block 3, an offshore exploration site in Sao Tome and Principe.Following the transaction, Oranto will retain a 15% stake in the African block while the national petroleum agency will maintain its 10% share, the company said.The acquisition expands the firm's presence in the country and is part of its 2026-2030 business plan to replenish energy reserves by exploring new regions, Petroleo Brasileiro said.The deal remains subject to customary closing conditions and regulatory clearance from the local government, the company added.

$PBR

Equities22d ago

UBS Adjusts APA Price Target to $45 From $44, Maintains Neutral Rating

APA (APA) has an average rating of Hold and mean price target of $39.90, 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)

$APA

Equities22d ago

BofA Upgrades Deutsche Börse on Strong Growth Position; Price Target, EPS Estimates Raised

BofA Global Research on Friday upgraded Deutsche Börse (DB1.F) to buy from neutral and raised its price targets and EPS estimates, saying the German stock exchange operator is "best positioned" among European peers for higher volumes and net interest income.As such, the price objective was raised to 300 euros from 250 euros. The EPS estimates were also raised to 12.09 euros from 11.33 euros for 2026, 13.42 euros from 12.42 euros for 2027 and 14.75 euros from 13.82 euros for 2028.The company is expected to post strong revenue growth in its power exchange business in 2026 as geopolitical tensions in the Middle East drive a surge in commodities volumes, BofA said in a note.The research firm also sees upside potential in Deutsche Börse's net interest income amid expectations of higher central bank rates, while the company's planned acquisition of Amsterdam-listed fund trading platform Allfunds Group (ALLFG.AS, 0AAL.L) could provide a further boost to EPS.

$0AAL.L$ALLFG.AS$DB1.F

Equities22d ago

Oil Prices Drop as Middle East Tensions Ease

Oil prices fell early Friday on calming tensions in the Middle East as a 10-day ceasefire between Israel and Lebanon held for its first day, while there are hopes for further talks between the United States and Iran.West Texas Intermediate crude oil for May delivery was last seen down $3.89 to US$90.80 per barrel, while June Brent oil was down $3.45 to US$95.94.Ceasefires are holding on at least two fronts in the Middle East, as Israel and Lebanon on Thursday agreed to a ceasefire in relation to Israel's war on Hezbollah militants in the country. There are also hopes for further talks between the U.S. and Iran to end their conflict that has closed the Strait of Hormuz, a chokepoint for 20% of daily global oil and LNG demand supplied by Persian Gulf nations.An Israeli stand down on attacks in Lebanon was a key part of Iran's demands in talks with the U.S. and may ease the path for further talks between the two countries. U.S. President Trump on Thursday said he expects talks moderated by Pakistan to soon resume.The Wall Street Journal on Friday reported comments from Iranian Deputy Foreign Minister Saeed Khatibzadeh that Iran is expecting talks to result in a permanent settlement to the war rather than another temporary ceasefire, citing Turkey's state news agency, while saying Iran is looking to regulate transits through the vital Strait.While a truce between the U.S. and Iran could allow shipping through the Strait to resume, Gulf supply is likely to ramp up slowly as producers in the region restart production from shut-in oilfields, while Iran's attacks on its neighbors' oil and gas infrastructure could take years to repair."Oil has eased...as hopes for renewed U.S.-Iran talks and the Israel-Lebanon ceasefire have reduced some of the immediate panic premium. That said, the broader supply story has not gone away, with disruptions to Middle East production still feeding into the physical market, suggesting prices may remain elevated even if diplomacy progresses," Saxo Bank wrote.

$CLK6$LCOM6$USO

Equities22d ago

RBC Raises Price Target on Venture Global to $16 From $14, Keeps Outperform Rating

Venture Global (VG) has an average rating of overweight and mean price target of $14.58, 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)

$VG

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Equities21d ago

S&P 500 Posts Weekly Gain, Closes at Record High, as Iran Reopens Strait of Hormuz

$^DJI$^IXIC$^SPX$APA$CTRA$DVN$ORCL$TSLA