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Market Chatter: Saudi Aramco Said to Shift to Spot Pricing to Boost Oil Sales in Asia

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, offered spot pricing options to its Asian customers to boost its crude exports amid rising competition, Reuters reported Thursday, citing trade sources and shipping data.The state-owned oil group used at least five supertankers to load 10 million barrels of oil from its Ras Tanura port in Saudi Arabia, which resumed operations on June 26, and shipped them through the Strait of Hormuz, with an estimated 6 million barrels of July crude headed for Asia, according to the sources.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

Equities40d ago

TotalEnergies Reportedly Sued Over Nigerian Energy Asset Sales

TotalEnergies (TTE) was sued Wednesday by several environmental groups over its plans for a Nigerian oil asset, news outlets reported.Friends of the Earth France and others are seeking to obtain environmental documents related to an onshore Nigerian oil asset TotalEnergies is attempting to sell to Vaaris, a transaction that has yet to be approved by Nigerian regulators, Reuters reported.The asset, called SPDC, has suffered hundreds of oil spills, and the lawsuit seeks to allow the groups to assess the environmental risks associated with the company, according to reports.TotalEnergies did not immediately reply to' request for comment.

$TTE

Equities40d ago

TotalEnergies Sells Malaysia Offshore Stake to INPEX for $350 Million

TotalEnergies (TTE) has agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million, the company said Thursday.The stake represents a net 8.5% interest in the Marjoram gas field, which is currently under development, according to the company.TotalEnergies said the sale allows it to realize the value of its minority stake in the non-operated project and focus on its operated portfolio and strategic growth opportunities in Malaysia.

$TTE

Equities40d ago

Capricorn Energy Agrees to Genel Energy's $360 Million Takeover Bid

Capricorn Energy (CNE.L) agreed to a recommended cash acquisition by Genel Energy's (GENL.L) indirect wholly owned subsidiary, Genel Energy No.9 Ltd., under which the bidder will acquire the company's entire issued and to be issued share capital.The oil producer offered $4.74 for each Capricorn share, comprising $3.75 in cash and a special cash dividend of $0.99, valuing the target asset's entire share capital at $360 million on a fully diluted basis, according to a Thursday filing.The takeover will be implemented through a Sottish scheme of arrangement, which is expected to take effect in the second half, subject to shareholder and court approvals. Capricorn's directors intend to unanimously recommend that shareholders vote in favor of the scheme at the company's court meeting.

$CNE.L$GENL.L

Equities40d ago

Fitch Assigns Rating, Stable Outlook on Vår Energi

Fitch on Thursday assigned a long-term issuer default rating of BBB to Vår Energi (VAR.OL), with a stable outlook.The rating reflects the strategic incentives from the Norwegian upstream oil and gas company's majority shareholder, Italy's Eni (ENI.MI), to support the business and the size of its production and reserves, as well as its significant income tax payments, moderate production costs, and manageable leverage.Meanwhile, the outlook is based on the rating agency's expectation that Vår will keep its funds from operations net leverage at an average of 2.4x through 2030 and that production will remain well above 300,000 barrels of oil equivalent per day.

$ENI.MI$VAR.OL

Equities40d ago

TotalEnergies Sells Interest in Malaysia's Marjoram Gas Project for $350 Million

TotalEnergies (TTE.PA, TTE.L) said Thursday it agreed to sell its net 8.5% interest in the Marjoram gas project offshore Malaysia to Inpex for $350 million.The transaction covers the energy company's non-operated 85% interest in Block 2E, representing a net 8.5% interest in the Marjoram gas field under development.TotalEnergies said the sale will allow it to focus on its operated assets and other opportunities for growth in Malaysia.

$TTE.L$TTE.PA

Equities40d ago

Vopak to Invest EUR230 Million in Dutch Battery Energy Storage Project

Koninklijke Vopak (VPK.AS) agreed to invest 230 million euros to acquire a majority stake in Green Energy Storage and develop a battery energy storage project in Oosterhout, the Netherlands.The final investment decision on the 200-megawatt project follows the signing of an agreement in principle on May 7, according to a Thursday release.The Dutch tank storage company said work will commence shortly, with commercial operations expected to begin in the first half of 2028. Greenchoice has agreed to offtake 50% of the project's capacity through an eight-year tolling agreement.

$VPK.AS

Equities40d ago

BofA Forecasts Ryanair Fiscal Q1 Fare Drop Amid Shifting Short-Haul Travel Outlook

BofA Global Research expects Ryanair (RYA.IR) to post a decline in fiscal first-quarter fares, while noting that a recent improvement in short-haul bookings signals an improving outlook."We forecast Ryanair's F1Q fares will have fallen -4% y/y, in line with guidance of a [mid-single digit] decline. However, our discussions with airlines suggest European [short-haul] bookings have improved recently, implying upside to guidance and our estimate of flat y/y fares in F2Q," the research firm said Tuesday.Accordingly, BofA boosted the buy-rated stock's price objective by 13% to 30 euros after applying a higher multiple to account for a brighter fare outlook.Analysts also increased their fiscal 2027 net income estimate by 5% to 1.96 billion euros, 2% above market forecasts, citing lower fuel cost expectations. The research firm's EPS projections for fiscal 2028 and 2029 were trimmed, while its EPS assumption for fiscal 2027 was lifted.Ryanair is scheduled to publish its fiscal first-quarter results on July 20.

$RYA.IR

Equities40d ago

TotalEnergies Faces Lawsuit from Environmental Groups Over Nigeria Sale

TotalEnergies (TTE.PA, TTE.L) is facing a lawsuit from environmental groups including Friends of the Earth France, according to a Wednesday release.The nonprofits are seeking environmental documents related to an onshore oil asset in Nigeria that is being sold by the oil and gas company. TotalEnergies EP Nigeria agreed to sell its stake in the Renaissance joint venture to Nigerian consortium Vaaris in January.The suing organizations are seeking to use the documents to verify whether TotalEnergies carried out its duty of vigilance related to the asset. French law requires TotalEnergies to show that the proposed sale does not result in the violation of the human rights of people living near the oil and gas extraction sites, according to the release.TotalEnergies did not immediately respond to' request for comment.

$TTE.L$TTE.PA

Equities40d ago

Viper Energy Closes Riverbend Acquisition

Viper Energy (VNOM) has completed the acquisition of the mineral and royalty interests owned by Riverbend Oil & Gas IX in a cash-and-stock deal, the company said late Wednesday.A subsidiary of Diamondback Energy (FANG), Viper Energy paid $337 million in cash and around 3.7 million shares of its Class A common stock, the company said.

$FANG$VNOM

Equities40d ago

Tsakos Energy Navigation Orders Second LNG Carrier at Hyundai Heavy Industries

Tsakos Energy Navigation (TEN) placed an order for a second LNG carrier at Hyundai Heavy Industries in South Korea, with delivery expected in Q1 2029.The first vessel is scheduled for delivery in late July and carries a minimum 10-year employment with a U.S. oil major, with extension options that might stretch the contract to 20 years, Tsakos said Wednesday in a statement.

$TEN

Equities40d ago

US Won't Renew Trade Pact With Mexico, Canada

US Trade Representative Jamieson Greer said Wednesday the US did not agree to renew the US-Mexico-Canada Agreement, or USMCA, in its current form."The United States will continue to engage with Mexico and Canada to address the Agreement's shortcoming and our trade deficits with these countries," Greer said.

Equities40d ago

Union Jack Oil Agrees to Reabold Resources' Takeover Offer

Oil and gas company Union Jack Oil (UJO.L) agreed to be acquired by Reabold Resources (RBD.L) in a deal valued at 6.1 million pounds sterling on a fully diluted basis.Reabold is offering 0.051 newly issued shares for each Union Jack share, valuing the latter at 0.0419 pound sterling per share, according to a Wednesday filing. The all-share offer reflects a 25% premium on Union Jack's June 12 closing share price.Union Jack's board intends to unanimously recommend that shareholders accept the offer. Upon completion of the deal, the combined market capitalization of the enlarged group will be 17.8 million pounds.

$RBD.L$UJO.L

Equities41d ago

BP Relinquishes Operatorship of Baku-Tbilisi-Ceyhan Pipeline to Azerbaijan's Socar

Operatorship of the Baku-Tbilisi-Ceyhan oil export pipeline will be transferred to Azerbaijan's Socar Midstream Operations from BP (BP.L) unit BP Exploration (Caspian Sea), effective Wednesday, according to a same-day release.The transfer applies across all sections of the pipeline, which covers Azerbaijan, Georgia and Turkey. The pipeline's ownership structure remains unchanged.Additionally, the management of pipeline activities and operatorship of common activities relating to the Baku-Tbilisi-Ceyhan and South Caucasus Pipeline systems will also transfer to the Socar unit from BP.

$BP.L

Equities41d ago

Update: Market Chatter: Saudi Aramco Said to Sell Crude to Asian Customers on Spot Basis

(Updates to add Aramco's statement)Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, sold at least 6 million barrels of crude oil on a spot basis to clients in East Asia, Bloomberg News reported Wednesday, citing traders with knowledge of the matter.The state-owned oil group, which typically sells supplies through long-term contracts, sold crude on three supertankers headed for South Korea, Japan, and China, the news outlet said.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

Equities41d ago

Market Chatter: Saudi Aramco Said to Sell Crude to Asian Customers on Spot Basis

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, sold at least 6 million barrels of crude oil on a spot basis to clients in East Asia, Bloomberg News reported Wednesday, citing traders with knowledge of the matter.The state-owned oil group, which typically sells supplies through long-term contracts, sold crude on three supertankers headed for South Korea, Japan, and China, the news outlet said.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

Equities41d ago

DOF Bags Offshore Vessel Replacement Contract from TotalEnergies

DOF Group (DOFG.OL) secured an award from energy giant TotalEnergies (TTE.PA, TTE.L) for a subsea construction, mooring and disconnection of an existing floating storage vessel, as well as a connection of a replacement FSO.The offshore and subsea services company will provide engineering and transportation services along with the installation of mooring systems, as well as the associated subsea construction activities, according to a Wednesday release. The contract's value was undisclosed but sits between $50 million and $100 million.Project management and engineering activities will begin immediately. Offshore execution is planned for the fourth quarter of 2027 and the first quarter of 2028.

$DOFG.OL$TTE.L$TTE.PA

Equities41d ago

Talos Energy Launches $800 Million Offering of Second-Priority Senior Secured Notes Due 2034

Talos Energy (TALO) said Wednesday that its subsidiary has commenced an $800 million offering of second-priority senior secured notes due 2034.Talos Energy said it intends to use the net proceeds from the offering to fund a portion of the cash consideration for its pending Gulf of America acquisition, redeem all of the outstanding 9.000% second-priority senior secured notes due 2029 and pay related fees and expenses.

$TALO

Equities41d ago

Peabody Energy Amends Credit Facility to Increase Commitment to $400 Million, Extend Maturity

Peabody Energy (BTU) has agreed to amend its revolving credit facility with PNC Bank and others, increasing revolving commitments to $400 million from $320 million previously, the company said in a Wednesday filing with the US Securities and Exchange Commission.The amendment further extends the maturity date of the revolving commitments to June 30, 2030, from Jan. 18, 2028, the company said. It also lowers the applicable interest-rate margins on revolving loans by 25 basis points.

$BTU

Equities41d ago

Sable Offshore Raises Capital via $300 Million Notes and Share Offering to Repay Exxon Loan

Sable Offshore (SOC) said Wednesday that it has priced a combined equity and debt offering to raise new capital and refinance existing borrowings tied to its energy assets.The company said it has priced a public offering of 32.5 million shares at $3.08 each, alongside a $300 million issuance of 6.5% convertible senior notes due 2031. The deals are expected to be completed on Thursday, subject to standard conditions, it added.The convertible notes carry a 6.5% coupon and can be converted into equity at an initial price of about $4 per share, representing a 30% premium to the equity offering price, it said.Proceeds from both offerings will be used primarily to repay a senior secured term loan with Exxon Mobil (XOM), as well as for transaction costs and general corporate purposes, Sable said.

$SOC$XOM

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