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TotalEnergies Enters Exploration Agreement for Syrian Offshore Block

TotalEnergies (TTE.PA, TTE.L), QatarEnergy and ConocoPhillips signed a memorandum of understanding with Syrian Petroleum Co. to jointly assess exploration opportunities at Syria's offshore Block 3 area in the Mediterranean Sea.The agreement includes a technical review of the offshore area by the French energy giant and its partners, and establishes the framework for discussions related to exploration activities, according to a Tuesday release.

$TTE.L$TTE.PA

Equities43d ago

TotalEnergies, ConocoPhillips, QatarEnergy Sign Memorandum of Understanding for Offshore Syria Exploration

TotalEnergies (TTE) and its partners ConocoPhillips (COP) and QatarEnergy signed a memorandum of understanding Tuesday with Syrian Petroleum relating to the exploration of block 3, offshore Syria in the eastern Mediterranean Sea, the company said.The MoU includes a technical review of the block 3 area and sets out a preliminary basis for talks related to exploration activities, the company said.

$COP$TTE

Equities43d ago

Adnoc Drilling Says Ready to Scale Up UAE Oil Production Capacity

Adnoc Drilling (ADX:ADNOCDRILL) said Tuesday it is ready to increase its oil production capacity if sought by its parent company, state-owned Abu Dhabi National Oil Co., or Adnoc.Youssef Salem, chief financial officer of the offshore drilling company, told Reuters in an interview that Adnoc Drilling can deliver "any production capacity" by 2027 beyond the current target of 5 million barrels per day.

ADX:ADNOCDRILL

Equities43d ago

Arctic Securities Upgrades Equinor to Buy, Raises PT

Arctic Securities on Monday upgraded oil and gas giant Equinor (EQNR.OL) to buy from hold and increased its price target to 380 Norwegian kroner from 350 kroner.(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)

$EQNR.OL

Equities43d ago

Goldman Sachs Boosts Saudi Kayan Petrochemical PT, Keeps at Neutral

Goldman Sachs on Monday increased its price target for chemical and polymer manufacturer Saudi Kayan Petrochemical (SASE:2350) to 5.70 Saudi riyals from 5.20 riyals, with an unchanged neutral 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:2350

Equities43d ago

Arctic Securities Upgrades Aker BP to Buy, Boosts PT

Arctic Securities on Monday raised oil and gas exploration and production company Aker BP (AKRBP.OL) to buy from hold and increased its price target to 380 Norwegian kroner from 340 kroner.(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)

$AKRBP.OL

Equities43d ago

Kepler Cheuvreux Raises Saudi Aramco's PT, Affirms Hold Rating

Kepler Cheuvreux on Tuesday lifted the price target for oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to 29.50 Saudi riyals from 27.00 riyals and kept its rating at hold.(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:2222

Equities43d ago

Goldman Sachs Boosts Saudi Aramco's PT, Retains at Buy

Goldman Sachs on Tuesday increased the price target for oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to 32 Saudi riyals from 29 riyals, while retaining its buy 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:2222

Equities43d ago

Adnoc Gas Targets 80% Restoration of Abu Dhabi Site by 2026-end

Adnoc Gas (ADX:ADNOCGAS) expects to restore 80% of processing capacity at its site in Habshan, Abu Dhabi, by the end of 2026, following two security-related incidents in April.The natural gas distribution company said Tuesday with its first-quarter results that the site is currently operating at 60% capacity, with full restoration targeted for 2027.

ADX:ADNOCGAS

Equities43d ago

US Sanctions Hong Kong, UAE Firms Linked to Iran's Oil Sales to China

The U.S. Treasury Department sanctioned nine companies, including four each based in Hong Kong and the United Arab Emirates, for helping Iran ship oil to China, according to a Monday press release.Hong Kong-based Hong Kong Blue Ocean, Hong Kong Sanmu, Jiandi HK, and Max Honor International Trade helped Golden Globe, said to be a cover company arranging oil sales for Iran, the Office ⁠of Foreign Assets Control said.UAE-based Ocean Allianz Shipping, Atic Energy FZE, Blanca Goods Wholesaler, and Universal Fortune Trading, as well as Oman's Zeus Logistics, also helped the Islamic Revolutionary Guard Corps with oil purchases.The U.S. Treasury "will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy," Secretary Scott Bessent said in a statement.

Hang SengShanghai Composite^SZSE

Equities43d ago

BofA Upbeat on Adnoc Drilling Amid Potential Oil Production Boost in UAE; Price Objective Nudged Higher

BofA Global Research is optimistic on Adnoc Drilling (ADX:ADNOCDRILL) amid the United Arab Emirates' plans to boost its oil production capacity over the medium term."ADNOC Drilling delivered another inline quarter and reiterated its 2026E guidance despite ongoing regional conflict. However, the earnings call was dominated by questions around the company's medium-term growth outlook, particularly if UAE increases its oil production capacity to 6mb/d. While management refrained from providing explicit targets, we believe such a scenario is likely to be incorporated into 2027-31 business plan," analysts said Tuesday. "In parallel, the second phase of the unconventional is also likely to be announced in the coming months, given that progress on Phase 1 is ahead of schedule and key project risks have largely been de-risked."As such, the price objective was bumped up to 6.90 Emirati dirhams from 6.80 dirhams, with an unchanged buy rating on the stock.In terms of earnings forecasts, the research firm raised its projected EPS for the drilling company by 3% for 2026, 5% for 2027 and 4% for 2028. Sales and EBITDA estimates over the three-year period were also upwardly adjusted.

ADX:ADNOCDRILL

Equities43d ago

Capital One Adjusts Price Target on APA to $51 From $50, Maintains Overweight Rating

APA (APA) has an average rating of hold and mean price target of $42.11, 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

Equities43d ago

Saudi Aramco FY26 Forecasts Revised as BofA Notes Better-than-Expected Q1 Results

BofA Global Research raised its forecasts for Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, as it incorporated the company's stronger-than-anticipated first-quarter results."We update our model post 1Q26 results to reflect better than expected upstream EBIT, which came 7% higher than BofAe as well as lower taxes. As a result, our FY26E net income has increased by c.3% vs our old estimates, while FY27E and 28E net income remain broadly unchanged," analysts wrote in a Tuesday note. "We believe Aramco is well positioned for production ramp post conflict resolution. To get from 10mb/d to 12mb/d, it contractually has 90 days, but it usually takes about 3 weeks. It can sustain 12mb/d production for up to 12 months without additional investments."The 2026 EPS estimate was upwardly revised to 2.13 Saudi riyals from 2.07 riyals, while the projection for 2028 was nudged higher to 2.14 riyals from 2.13 riyals.The buy rating on the stock and price objective of 34.50 riyals were both maintained.

SASE:2222

Equities43d ago

Corcel Names New CFO

Corcel (CRCL.L) appointed Leandro Schujmann as chief financial officer, succeeding Scott Kaintz, according to a Tuesday release.Schujmann joins the upstream oil and gas company from oil and gas peer, Meren Energy (MER.ST), where he was CFO.

$CRCL.L$MER.ST

Equities43d ago

Update: Market Chatter: Shell Plans Sale of French Gas Station Network

(Updates with Shell response in the third paragraph.)Shell (SHEL) plans to divest its gas station network in France, according to a Google translation of a Monday report from French newspaper Les Echos.The oil major has informed employees and suppliers of the planned sale, with a buyer expected to be identified in Q3 and the deal potentially closing in early 2027, Reuters said, citing Les Echos.Shell 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.)

$SHEL

Equities43d ago

Venture Global Q1 Earnings, Revenue Rise; Shares Up Pre-Bell

Venture Global (VG) reported Q1 earnings Tuesday of $0.19 per diluted share, up from $0.15 a year earlier.Analysts surveyed by FactSet expected $0.13.Revenue for the quarter ended March 31 was $4.6 billion, up from $2.89 billion a year earlier.Analysts polled by FactSet expected $3.97 billion.The company's shares were up 9.8% in premarket activity.

$VG

Equities43d ago

Venture Global Signs Liquefied Natural Gas Supply Agreements With TotalEnergies, Vitol

Venture Global (VG) said Tuesday that it has signed binding agreements with TotalEnergies (TTE) and Vitol to supply additional liquefied natural gas.TotalEnergies will purchase 0.85 million tons per annum of the fuel over a five-year period starting this year, Venture Global said.Separately, Vitol expanded its existing five-year purchase contract to 1.7 million tons per annum from the 1.5 MTPA previously reported in March, Venture Global said.Shares of Venture Global were up 11% in recent Tuesday premarket activity.

$TTE$VG

Equities43d ago

Earnings Flash (VG) Venture Global Posts Q1 EPS $0.19, vs. FactSet Est of $0.13

$VG

Equities43d ago

Earnings Flash (TE) T1 Energy Posts Q1 Net Loss $0.08 a Share, vs. FactSet Est of $0.17 Loss

$TE

Equities43d ago

Market Chatter: Shell Plans Sale of French Gas Station Network

Shell (SHEL) plans to divest its gas station network in France, according to a Google translation of a Monday report from French newspaper Les Echos.The oil major has informed employees and suppliers of the planned sale, with a buyer expected to be identified in Q3 and the deal potentially closing in early 2027, Reuters said, citing Les Echos.Shell 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.)

$SHEL

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