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Jefferies Adjusts Price Target on Chevron to $236 From $227, Maintains Buy Rating

Chevron (CVX) has an average rating of overweight and mean price target of $210.08, 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

Equities26d ago

Bernstein Adjusts Price Target on Exxon Mobil to $195 From $159, Maintains Outperform Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $163.12, 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

Equities26d ago

Update: Market Chatter: EQT, KKR Show Interest in PolyPeptide Takeover

(Updates with responses from KKR and Advent in the third paragraph)EQT and KKR (KKR) are among private equity firms showing takeover interest in PolyPeptide Group, Bloomberg reported Friday, citing people with knowledge of the matter.Advent has also been reviewing a possible acquisition of the Swiss contract drugmaker, the report said.KKR and Advent declined to comment, while EQT didn't immediately reply 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.)

$KKR

Equities26d ago

BP's Namibia Unit to Acquire 60% Stake in Eco Atlantic Namibian Licenses

BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said Monday.The arrangement provides a $2.7 million initial cash payment upon closing and requires BP to fully fund the remaining 25% stake held by Eco Atlantic during the current exploration period, the company said.The BP unit will also cover the proportional exploration costs for the state-owned oil firm and local partners during this initial development phase, Eco Atlantic said.The proposed work program involves finalizing seismic data reprocessing for one license and executing a new three-dimensional seismic survey across the other two blocks, the company added.The company also said if the joint venture enters the second renewal period in 2028, Eco Atlantic can transfer an additional 10% interest in exchange for up to $63 million in carried drilling costs.

$BP

Equities26d ago

Update: Market Chatter: Saudi Arabia Said to Halve Crude Sales to China in May Amid Middle East War

(Updates to add Aramco's statement)Saudi Arabia will ship 20 million barrels of crude oil to Chinese customers in May, down from 40 million barrels allocated for loading in April, traders familiar with the matter told Bloomberg News.The drop in sales comes after Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, raised official selling prices of its crude amid supply disruptions from the Iran war, according to the report published Monday.Aramco declined to comment when reached by.(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

Equities26d ago

Market Chatter: Saudi Arabia Said to Halve Crude Sales to China in May Amid Middle East War

Saudi Arabia will ship 20 million barrels of crude oil to Chinese customers in May, down from 40 million barrels allocated for loading in April, traders familiar with the matter told Bloomberg News.The drop in sales comes after Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, raised official selling prices of its crude amid supply disruptions from the Iran war, according to the report published Monday.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

Equities26d ago

Solstad Offshore, Petrobras Sign Two-year Extension for Normand Fortress Vessel

Solstad Offshore (SOFF.OL, SOMA.OL) said Monday it extended its existing contract with Petrobras for the CSV Normand Fortress vessel by an additional two years.The extension, valued at $56 million, will commence in early July. It covers accommodation services to support production activities on the Brazilian continental shelf.The vessel is owned by the Norwegian shipping company's subsidiary Solstad Maritime, and will continue to operate under a bareboat arrangement, with Solstad Offshore acting as the contract holder with Petrobras.

$SOFF.OL$SOMA.OL

Equities26d ago

RBC Tweaks Estimates, Price Target for Repsol After Q1 Trading Update

RBC Capital Markets adjusted its earnings forecasts and price target for Repsol (REP.MC) amid a model update to reflect the Spanish energy group's first-quarter trading update and the research firm's revised commodity price deck."Repsol's trading update showed modest signs of downstream strength, with an average $10.9/bbl refining indicator, similar to 4Q, although this was clearly driven by a particularly strong March. Repsol notes refining margins in April have been volatile but have averaged ~$11.5/bbl (this is net of all variable costs, including transport), well below where we see prevailing margins. At a headline level, this could be seen as disappointing given where distillate cracks are on the screen; however, we think this reflects physical oil spreads, as well as timing effects between crude and product pricing. We've seen a number of 'messy' 1Q updates from the US refiners and XOM also over recent days, and Repsol as a coastal refiner may be more impacted by weaker capture than those in the US taking crude from local sources. We continue to see refining margins remaining structurally above mid-cycle levels through 2026 and into 2027, given tightness in distillate inventories, and see Repsol as a key beneficiary of this trend. In the upstream, production volumes were disappointing relative to our estimates, with some one-off impacts weighing on results," according to an April 10 note.As such, the research firm revised its EPS estimates for full-year 2026 through 2028 and cut its first-quarter 2026 adjusted net income forecast to 985 million euros from 1.09 billion euros, 2% lower than market expectations.Meanwhile, analysts lifted their price target for the outperform-rated stock to 32 euros from 29 euros. The upgrade accounts for the research firm's latest commodity price deck, which integrates higher 2026 to 2027 oil price forecasts and an $80 per barrel long-term Brent assumption.

$REP.MC

Equities26d ago

TotalEnergies Makes Offshore Hydrocarbon Discovery in the Republic Of Congo

TotalEnergies (TTE) said Monday it discovered hydrocarbons at an exploration well within its offshore Moho license in the Republic of Congo.The drilling operation encountered a roughly 160-meter hydrocarbon column within Albian reservoirs, and combined with a previous regional discovery, yields an estimated 100 million barrels of recoverable resources, the company said.The company plans to develop the newly found resources by connecting them to existing regional production facilities, TotalEnergies said.The business operates the project with a 63.5% stake alongside partners Trident Energy and SNPC to currently produce 90,000 barrels of oil equivalent daily, it said.

$TTE

Equities26d ago

Energean's Power FPSO Unit Now Fully Operational

Energean (ENOG.L) said Monday that its Energean power floating production, storage, and offloading unit is now fully operational, restoring production to regular levels.The UK-listed gas and oil exploration and production company noted that production was restored to regular levels within 48 hours of the UK's Ministry of Energy and Infrastructure issuing a notification.Meanwhile, the natural gas deliveries to customers resumed in line with contractual requirements.

$ENOG.L

Equities26d ago

Update: BP to Acquire Majority Stake in Three Namibian Offshore Exploration Blocks

(Updates to add more information)British oil and gas giant BP (BP.L) agreed to acquire a 60% interest in the PEL97, PEL99, and PEL100 offshore exploration blocks offshore Namibia from Eco Atlantic Oil & Gas (ECO.L).The deal remains subject to Namibian government approvals, with BP to become the operator and Eco Atlantic to continue as a partner on the three blocks, alongside Namibia's national oil company Namcor, according to a Monday release from BP.In a separate same-day statement, Canada-based Eco said it will receive a one-time cash consideration of $2.7 million upon closing. It will keep a 25% interest in the licenses.

$BP.L$ECO.L

Equities26d ago

TotalEnergies Reports Hydrocarbon Discovery Offshore Congo

TotalEnergies (TTE.L, TTE.PA) said Monday it made a hydrocarbon discovery on the Moho license, offshore the Republic of Congo.The discovery follows the drilling of the MHNM-6 NFW exploration well, which encountered a hydrocarbon column of 160 meters.The French energy giant also conducted an extensive data acquisition and sampling campaign to support subsurface analysis and future development plans.TotalEnergies EP Congo is the operator of the Moho license with a 63.5% participation.

$TTE.L$TTE.PA

Equities26d ago

BP to Acquire Majority Stake in Three Namibian Offshore Exploration Blocks

British oil and gas giant BP (BP.L) agreed to acquire a 60% interest in the PEL97, PEL99, and PEL100 offshore exploration blocks offshore Namibia from Eco Atlantic Oil & Gas (ECO.L).The deal remains subject to Namibian government approvals, with BP to become the operator and Eco Atlantic to continue as a partner on the three blocks, alongside Namibia's national oil company Namcor, according to a Monday release.

$BP.L$ECO.L

Equities26d ago

Dana Gas Resumes Output at Khor Mor Gas Field in Iraq

Dana Gas (ADX:DANA) said Monday it resumed production at the Khor Mor gas facility in Iraq's Kurdistan region.The Abu Dhabi-listed company said the field had intermittent operations in recent weeks. It carried out prudent operational measures during the period in coordination with government authorities.

$ADX:DANA

Equities26d ago

Shenzhen Gas' Q1 Profit Rises 15% Despite Revenue Contraction

Shenzhen Gas' (SHA:601139) net profit attributable to shareholders in the first quarter rose 15% to almost 267 million yuan from 233 million yuan a year earlier, according to a Shanghai bourse filing on Saturday.Earnings per share climbed 14% year on year to 0.08 yuan from 0.07 yuan.Total operating revenue slipped 9.4% to 6.81 billion yuan from 7.51 billion yuan in the previous year.

$SHA:601139

Equities27d ago

Saudi Energy Facilities Ramp Up Production Post Iranian Strikes

Saudi Arabia resumed pumping through the East-West pipeline at full capacity of 7 million barrels per day and recovered 300,000 bpd of affected volumes from the Manifa field production, the kingdom's energy ministry said Sunday.The operations were impacted by Iranian strikes since the US and Israel's war against Iran broke out on Feb. 28.The Ministry of Energy said work is still in progress to restore full production capacity at the Khurais field.

$^TASI

Equities27d ago

Advanced Petrochemical Co. Posts Lower Q1 Estimated Profit; Revenue Up

Advanced Petrochemical Co. (SASE:2330) said Sunday that its estimated attributable net profit for the first quarter declined, while revenue increased year over year.The estimated net profit attributable to shareholders of the issuer for the three months ended March 31 was 30 million Saudi riyals, compared with 72 million riyals earlier. EPS moved to 0.116 riyal from 0.277 riyal.The Tadawul-listed propylene and polypropylene products company's revenue was 1.08 billion riyals, compared with 614 million riyals a year ago.

$SASE:2330

Equities27d ago

Ades Holding Lands One-year Extension for Drilling Services in Nigeria

Oil and gas drilling company Ades Holding (SASE:2382) said Sunday that Chevron Nigeria extended its offshore drilling services contract by a year, adding 178 million Saudi riyals to the group's backlog.The existing drilling contract for its premium jackup rig shelf drilling scepter in Nigeria is due to expire in July. The extended contract includes an unpriced option for an additional year.

$SASE:2382

Equities28d ago

S&P 500 Posts Weekly Gain Ahead of Iran Peace Talks, Earnings

The Standard & Poor's 500 index rose 3.6% this week in a broad climb ahead of high-stakes peace talks between Iran and the US and the Q1 earnings reporting season.The S&P 500 ended the week at 6,816.89, its second positive week in a row. The index is up 4.4% for April, erasing much of March's 4.6% drop. It is down 0.4% for the year.A two-week ceasefire reached between the US and Iran early this week appeared to be holding as officials from Washington and Tehran were expected to meet on Saturday in Pakistan, which helped broker the ceasefire.The coming week also marks the unofficial start of the Q1 earnings reporting season.US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, according to the University of Michigan's preliminary April survey. The survey was largely completed before the announcement of the two-week ceasefire.A report by the Bureau of Labor Statistics showed US consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher. The data showed energy price growth jumped about 11% sequentially in March, led by a 21% surge in gasoline, accounting for nearly three quarters of the headline increase.Every sector other than energy rose this week. Communication services and consumer discretionary climbed 5.8% each, followed by a 4.8% gain in technology and a 4.7% advance in industrials. Materials were also strong, up 3.5%, while real estate and financials rose more than 2% each. Utilities, consumer staples and health care also edged higher.Amazon.com (AMZN) was the top performer in consumer discretionary, climbing 14%. The company said its Amazon Web Services' artificial intelligence revenue run rate was more than $15 billion in Q1 and "ascending rapidly." AWS has the potential to grow even faster, Amazon Chief Executive Andy Jassy said in a letter to shareholders.Paramount Skydance (PSKY) had the largest percentage increase in communication services, rising 12%. The company's $54 billion bridge loan backing its acquisition of Warner Bros. Discovery (WBD), provided by Bank of America (BAC), Citigroup (C), and Apollo Global Management (APO), has been sold down to wider group of banks and reduced to $49 billion, according a regulatory filing.Intel (INTC) led the advance in the technology sector, jumping 24%. Intel and Alphabet's (GOOG, GOOGL) Google expanded a multiyear agreement to develop artificial intelligence and cloud infrastructure using Xeon processors and custom infrastructure processing units. Intel's Xeon chips will continue to support Google Cloud systems across AI, inference and general computing workloads, the companies said.Energy, the lone sector in the red for the week, fell 4.1%.Phillips 66 (PSX) led the energy sector's drop, sliding 9.6%, as the company said its Q1 results are expected to be weighed down by $900 million in mark-to-market losses tied to surging commodity prices, according to preliminary data. The jump in commodity prices also led to a net outflow of almost $3 billion of cash collateral on derivative positions, Phillips 66 said in a regulatory filing.Earnings reports are expected next week from many large companies, including Goldman Sachs Group (GS), JPMorgan Chase (JPM), Johnson & Johnson (JNJ), Wells Fargo (WFC), Citigroup (C), BlackRock (BLK), Bank of America (BAC), Morgan Stanley (MS), Progressive (PGR), Netflix (NFLX), Pepsico (PEP), Abbott Laboratories (ABT) and Charles Schwab (SCHW).Economic data will include the March producer price index as well as March existing home sales, import prices, industrial production and capacity utilization, among other reports.

$^DJI$^IXIC$^SPX$AMZN$INTC$PSKY$PSX

Equities28d ago

Scorpio Tankers Closes Offering of Senior Notes due 2031

Scorpio Tankers (STNG) said late Friday it closed an offering of $375 million of 1.75% convertible senior notes due 2031.The offering comprised $50 million of shares issued upon the full exercise of an overallotment option by the initial buyers, according to a statement.Around $100 million of the net proceeds of $363.3 million was used to repurchase over 1.3 million shares and the remainder will be used for general corporate purposes, the company said.

$STNG

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Equities28d ago

S&P 500 Posts Weekly Gain Ahead of Iran Peace Talks, Earnings

$^DJI$^IXIC$^SPX$AMZN$INTC$PSKY$PSX