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Capricorn Energy's Suitor Again Secures Extension for Firm Offer Deadline

Capricorn Energy (CNE.L) said Wednesday that Cafani Group's Alamadiyaf al-Masiyyah for Trading secured another extension to the put-up-or-shut-up deadline for its planned acquisition of the company.Alamadiyaf al-Masiyyah now has until July 29 to either make a firm offer for the oil and gas exploration and production company or walk away.Capricorn Energy, however, cautioned that there is no guarantee a final deal will be reached.

$CNE.L

Equities41d ago

Update: Market Chatter: Shell Close to Deal to Sell South Africa Fuel Outlets to Abu Dhabi National Oil's Retail Arm for $1 Billion

(Updates with Shell's response in the fifth paragraph.)Shell (SHEL) is close to a deal to sell over 600 retail fuel outlets in South Africa to Abu Dhabi National Oil's retail arm for a deal valued at around $1 billion, Bloomberg reported Tuesday, citing people familiar with the matter.The deal would give Adnoc Distribution control of 10% of South Africa's market, the report said.The sale would help Shell's plan of shedding non-core holdings, the report said.No final agreement has been reached, the report said.Shell declined to comment, and Adnoc Distribution did not immediately reply 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.)

$SHEL

Equities41d ago

Thai Corporate Leverage Rises on Larger Investments, Weak Conditions, Fitch Says

Thai corporates has retained heightened leverage amid sizable investments and weak operating conditions, Fitch Ratings said in a recent release.Increasing investment needs amid a climate transition also put additional pressure on the country's companies, according to Obboon Thirachit, Fitch Ratings (Thailand)'s senior director for corporate ratings.Petrochemicals, property, and power utilities face greater pressure while telecoms show resilience, Fitch said.EBITDA net leverage for the country's 10 largest bond issuers was 3.7% in 2025, above the 2x for Fitch-rated Thai and Asia-Pacific corporates.Elevated leverage and greater dependence on domestic bonds could weigh on financial flexibility and raise refinancing risk under worsening market conditions, Fitch said.

^SET

Equities41d ago

Eni, Mercuria Agree to Establish Global Energy Trading Joint Venture

Eni (E) said Wednesday it agreed with Mercuria to establish an equally owned joint venture to oversee energy commodities trading activities across global markets.The independently operated venture will handle selected energy commodities trading and commercialization activities, including oil, biofuels, natural gas, LNG, and related logistics and infrastructure rights.The partnership aims to expand the companies' trading footprint, improve efficiency and risk management, and boost value creation by combining their complementary assets and trading expertise, Eni added.

Equities41d ago

Equinor Signs $1 Billion Rig Agreement With Transocean

Equinor (EQNR) has entered into a letter of intent with Transocean (RIG) to charter three Cat D rigs for operations on the Norwegian continental shelf under an agreement valued at about $1 billion, the company said Wednesday.The agreement covers Transocean Enabler for three years, Transocean Encourage and Transocean Endurance for two years each, the company said.The contract is based on a day rate below $400,000 over seven rig years.The rigs will support its plan to reduce well costs, accelerate new wells and maintain production through 2035, Equinor said.

$EQNR$RIG

Equities41d ago

Eni, Mercuria To Launch Energy Commodities Trading JV

Eni (ENI.MI) and Mercuria agreed to establish a 50/50 joint venture for energy commodities trading, according to a Wednesday release.The Italian energy company and Swiss energy and commodities group's new business will trade products including oil, biofuels, gas, liquefied natural gas, as well as related logistics and infrastructure rights.The transaction remains subject to customary regulatory clearances and other closing conditions.

$ENI.MI

Equities41d ago

Ecopetrol Receives $292.7 Million Colombian Government Payment for Q2 2025

Ecopetrol (EC) has received around 1 trillion Colombian pesos ($292.7 million) by Colombia''s Ministry of Finance and Public Credit, corresponding to the account receivable from the Fuel Price Stabilization Fund for Q2 2025, the company said Wednesday.Of the total, around 800 billion pesos corresponds to the company while about 200 billion to Refineria de Cartagena, payments made through the issuance and delivery of treasury short-term securities, the company said.The payment reflects coordination between the company and government institutions to reduce debts owed to Ecopetrol, the company said.Shares of the company were up 1.9% in recent premarket trading.

$EC

Equities41d ago

Equinor Signs Letter of Intent for $1 Billion Rig Contract with Transocean

Equinor (EQNR.OL) unveiled a letter of intent for a $1 billion contract to use Transocean's three Cat D rigs on the Norwegian continental shelf.The contract value includes mobilization costs and is based on a day rate below $400,000 over seven rig years, according to a Wednesday release.The Norway-listed energy company expects the deal to help lower well costs and deliver new wells, while sustaining high production through 2035.

$EQNR.OL

Equities41d ago

Arabian Pipes Co. Bags SAR133 Million Steel Pipes Contract from Saudi Aramco

Arabian Pipes Co. (SASE:2200) secured a contract worth 133 million Saudi riyals from Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.The nine-month deal covers the production and delivery of steel pipes, the steel tube manufacturer said Wednesday.

SASE:2200SASE:2222

Equities41d ago

Aker Solutions Wins High Voltage Direct Current Substructure Supply Contract

Aker Solutions (AKSO.OL) secured a "substantial" contract from an unnamed customer to supply a high-voltage direct current substructure for an offshore wind project in Europe.The energy-focused engineering group values a substantial contract at between 2.5 billion Norwegian kroner and 4 billion kroner, according to a Tuesday release.The company's work will cover engineering, procurement and construction.

$AKSO.OL

Equities41d ago

Shell to Sell 50% Stake in Only Non-operated Platform in Gulf of America Under $1.7 Billion Deal

Shell (SHEL.L, SHELL.AS) entered into a $1.7 billion agreement for the sale of its 50% non-operated interest in the Na Kika platform and associated fields in the Gulf of America, as well as 100% of the Coulomb tieback.Through its Shell Offshore subsidiary, the oil and gas company is selling the interests to units of Talos Energy and Ridgewood Energy, according to a Tuesday release. The buyers will assume certain decommissioning responsibilities and security provisions as part of the deal.Na Kika is Shell's only non-operated asset in the Gulf of America. BP (BP.L), as co-owner and operator of the semi-submersible platform, has preferential rights to acquire Shell's interest within 30 days at the terms agreed with Talos and Ridgewood.The deal will take effect on Wednesday, with closing expected by the end of 2026, subject to regulatory approvals. The seller said its Shell Trading US Co. will retain offtake rights from the assets for sale through separate negotiated agreements with the buyers.

$BP.L$SHEL.L$SHELL.AS

Equities41d ago

ConocoPhillips Files Mixed Shelf

ConocoPhillips (COP) filed a registration statement Tuesday for the sale of securities from time to time.The filing covers subordinated debt securities, common and preferred stock, warrants, depository shares, stock purchase contracts or units, and prepaid stock purchase contracts, the filing said.Net proceeds from the sale of the securities will be used for general corporate purposes.

$COP

Equities41d ago

Talos Energy to Acquire Deepwater Gulf of America Assets From Shell for $850 Million

Talos Energy (TALO) on Tuesday agreed to jointly acquire deepwater assets in the Gulf of America from Shell Offshore (SHEL), alongside an affiliate of Ridgewood Energy, for $850 million in cash, with Talos expecting its net consideration to be approximately $450 million to $500 million after estimated interim cash flows from the assets.The acquired interests include a 50% working interest and operatorship in the Coulomb field and a 25% non-operated stake in the BP-operated Na Kika platform and four associated fields, the company said.Talos plans to fund the deal through cash on hand and debt, and has secured $150 million in incremental lender commitments, raising its borrowing base to $850 million from $700 million upon closing. The deal is expected to close by year-end 2026, according to the company.

$BP$SHEL$TALO

Equities41d ago

Update: WTI Oil Closes Lower as Ships Continue to Move Through Strait of Hormuz

West Texas Intermediate (WTI) crude oil closed lower on Tuesday, as shipping through the Strait of Hormuz continues to free up previously trapped barrels.WTI crude for August delivery closed down 1.8% to $69.50 per barrel, while August Brent crude was last seen down 0.3% to $72.92.The drop comes as the United States and Iran hold talks in Qatar aimed at reaching a peace agreement to end the four-month conflict that has disrupted shipping through the Strait of Hormuz, the chokepoint for about one-fifth of the world's seaborne oil trade.Tankers stranded in the Persian Gulf have resumed transiting the Strait after a pause following renewed US and Iranian strikes over the weekend. The New York Times reported that 40 ships exited the Gulf on Monday, citing data from tracking firm Kpler, up from 24 on Sunday.The resumption of shipping through the Strait has pushed down prices by 23% over the past month and by 30% since the end of the first quarter, the largest drop since 2020."Oil prices traded within a relatively tight range near recent lows while remaining on track for their biggest quarterly decline since the pandemic. Flows through the Strait of Hormuz continue to accelerate, prompting warnings from Morgan Stanley that the release of previously stranded barrels could create a near-term supply glut and put additional downward pressure on prices," Saxo Bank wrote.

$CLQ6$LCOQ6$USO

Equities41d ago

Houlihan Lokey to Acquire Intrepid Financial Partners to Expand in Energy

Houlihan Lokey (HLI) agreed to acquire Intrepid Financial Partners, an investment bank specializing in advisory services for the energy sector, for an undisclosed amount.The transaction is expected to be completed before Sept. 30, following regulatory approval, Houlihan Lokey said Tuesday in a statement.The Intrepid Investment Management business isn't part of the deal and will continue to operate as a separate entity with the same name.Price: $134.77, Change: $+1.85, Percent Change: +1.39%

$HLI

Equities41d ago

BP Deputy CEO to Retire

BP (BP.L) Deputy Chief Executive Officer Carol Howle will retire after 26 years with the UK energy company, according to a Tuesday release.CEO Meg O'Neill said she chose not to hire a replacement amid ongoing actions to streamline the group's organizational model.

$BP.L

Equities42d ago

UBS Adjusts Price Target on Warrior Met Coal to $100 From $102, Maintains Buy Rating

Warrior Met Coal (HCC) has an average rating of overweight and mean price target of $105.57, 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://finwires.com/en/contact)

$HCC

Equities42d ago

UBS Adjusts National Energy Services Reunited PT to $36 From $32, Maintains Buy Rating

$NESR

Equities42d ago

Sable Offshore Proposes Offerings of $100 Million in Common Stock, $300 Million in Convertible Notes

Sable Offshore (SOC) plans to start separate public sales of $100 million in common stock and $300 million in convertible senior notes maturing in 2031, the company said Tuesday.The company will grant underwriters a 30-day option to buy an additional $15 million in common stock and $45 million in notes to cover over-allotments, it said.Sable plans to use the net proceeds, alongside funds from a new secured lending arrangement, to settle its current senior secured term loan with Exxon Mobil (XOM) and for general corporate purposes, it said.Shares of Sable were down 38% in Tuesday premarket activity.

$SOC$XOM

Equities42d ago

BKV Commences Operations at Eagle Ford Carbon Capture Project

BKV (BKV) said Tuesday that it has started operations at its Eagle Ford carbon capture and sequestration facility in Texas.The facility is the first new operational site under BKV's joint venture with Copenhagen Infrastructure Partners, the company said. It captures CO2 from a natural gas processing plant tied to Eagle Ford shale production and permanently stores it underground through injection wells, BKV said.The project is expected to sequester around 90,000 metric tons of CO2 annually, BKV said, adding that it will initially retain all environmental credits generated from the facility.The company said the Eagle Ford facility together with its Cotton Cove facility, located Fort Worth, Texas, are expected to sequester more than 120,000 metric tons of CO2 annually.

$BKV

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