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Equinor Signs Assets Swap Deal with Vår Energi

Norway-listed energy companies Equinor (EQNR.OL) and Vår Energi (VAR.OL) agreed to a swap of assets on the Norwegian continental shelf.Equinor will transfer a 32.5% stake in the Peon discovery and operatorship to Vår Energi, and will receive stakes in producing assets and development licenses in return, according to a Tuesday release.Vår Energi's transfers to Equinor include a 5% share in the Fram field and its positions in the Grosbeak and Mulder discoveries and Grønngylt prospect.The transfers remain subject to customary approvals, transfer of operatorship and carve-out.

$EQNR.OL$VAR.OL

Equities42d ago

Saudi Aramco Slashes July LPG Contract Prices

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, cut the monthly contract prices for liquefied petroleum gas in July.The state oil giant set its contract prices for propane at $580 per metric tonne and butane at $600 per metric tonne, according to a Tuesday statement.In June, Aramco's prices were $760 per metric tonne for propane and $820 per metric tonne for butane.

SASE:2222

Equities42d ago

Hafnia Names New CEO

Hafnia (HAFNI.OL) appointed Søren Jensen as its new chief executive officer to succeed Mikael Skov, effective Sept. 1.Jensen serves as executive vice president, head of asset management, the tanker company said Tuesday.

$HAFNI.OL

Equities42d ago

Bureau Veritas in Talks to Sell Oil, Petrochemical, Coal Testing Business

Bureau Veritas (BVI.PA) is negotiating a sale of its oil & petrochemicals and coal testing and inspection business to Triton Partners at an enterprise value of 470 million euros.The potential sale is part of the testing, inspection, and certification services company's Leap 28 strategy, according to a Tuesday release.Bureau Veritas plans to redeploy the sale proceeds to higher-growth and higher-margin businesses.

$BVI.PA

Equities42d ago

Vallourec Wins Carbon Steel Line Pipes Supply Deal for Greater PAJ Project in Angola

Vallourec (VK.PA) secured a contract from Azule Energy to supply more than 26,000 tons of carbon steel line pipes for the Greater PAJ offshore development project in Angola.The French tubular products manufacturer will begin delivering the equipment from July 2027 through December 2027, according to a Tuesday release.Azule Energy is a joint venture held equally by Italian energy company Eni (ENI.MI) and British oil and gas company BP (BP.L).

$BP.L$ENI.MI$VK.PA

Equities42d ago

Zenith Energy Unit Starts Construction of First Solar Project in Italy

Zenith Energy (ZENA.OL) said Tuesday its subsidiary WeSolar began the construction of its first photovoltaic solar project in Italy's Puglia region.The one-megawatt-peak solar plant is the first of three projects within the energy production and development company's seven-megawatt-peak under-construction portfolio. Construction of the remaining plants will start in July and August.Zenith said it expects all three solar plants to be operational, connected to Italy's national grid, and revenue-generating by the end of 2026.

$ZENA.OL

Equities42d ago

Borr Drilling Completes Redemption of Remaining Outstanding Notes Due 2028, 2030

Borr Drilling (BORR.OL) said Monday that it completed the redemption of all remaining outstanding notes due 2028 and 2030 following tender offers.The drilling contractor received valid and unrevoked tenders of notes amounting to 95.95% of the outstanding 10% senior secured notes due 2028 and 91.21% of the 10.375% senior unsecured notes due 2030. The company noted that it was able to redeem the remaining notes after receiving valid tenders exceeding 90% of the aggregate principal amount of both series of notes.The company financed the redemptions using proceeds from its recently completed offerings of $1.1 billion worth of 8.750% senior secured notes due 2032 and $935 million worth of 9% notes due 2034.

$BORR.OL

Equities42d ago

Gulfport Energy Expands Ohio Utica Acreage With $83 Million Acquisition

Gulfport Energy Corp (GPOR) has acquired roughly 4,700 net undeveloped acres in Ohio's Utica region for about $83 million, expanding its gas inventory in the area, the company said Monday.The acquisition, completed through the Ohio Oil and Gas Land Management Commission State Land Lease Sale, adds 16 drilling locations in its portfolio, with development expected to begin in 2027.

$GPOR

Equities42d ago

Eidesvik Offshore to Provide Platform Supply Vessels Under New Deal with Aker BP

Offshore vessel operator Eidesvik Offshore (EIOF.OL) will deploy its platform supply vessels under a frame agreement with oil and gas company Aker BP (AKRBP.OL).The agreement runs for four years and can be extended by two additional two-year periods. Under the deal, Eidesvik received a three-year firm contract with additional extension options for the PSV Viking Prince.The companies first established a strategic collaboration in 2019.

$AKRBP.OL$EIOF.OL

Equities42d ago

Eni, XRG to Buy Interests in Three Vaca Muerta Blocks Tied to Argentina LNG Project

Italy's Eni (ENI.MI) and Abu Dhabi National Oil Co's international energy investment business XRG signed agreements to each acquire a 32% stake in three upstream blocks in the Vaca Muerta basin onshore Argentina from YPF.The Meseta Buena Esperanza, Aguada Villanueva, and Las Tacanas blocks are set to be part of the 12 million-tonne-per-annum Argentina liquefied natural gas project's integrated development, according to a Monday release.YPF will hold the remaining 36% interest.

^FADGI$ENI.MI

Equities42d ago

Ring Energy Added to Russell 3000 Index

Ring Energy (REI) has joined the Russell 3000 Index, effective when the US market opens on Monday, as part of the Russell indexes reconstitution, the company said on the same day.Membership in the index leads to automatic inclusion in the small-cap Russell 2000 Index as well as on some growth and value style indexes, the company said.

$REI

Equities42d ago

SandRidge Energy Unit to Acquire Cherokee Play Assets for $65 Million

SandRidge Energy (SD) said Monday it agreed to acquire certain producing assets and leasehold interests in the Cherokee play in the mid-continent region for $65 million in cash.The assets are located within the mid-continent region, with an estimated production of around 3,000 barrels of oil equivalent per day and around 7,000 net leasehold acres providing additional inventory, the company said.The acquisition, targeted to close in Q3, is expected to be accretive to production, EBITDA and free cash flow, the company said.

$SD

Equities42d ago

Abu Dhabi Commercial Bank Starts Borouge Coverage at Buy

Abu Dhabi Commercial Bank on Monday initiated coverage of petrochemicals company Borouge (ADX:BOROUGE) with a buy rating and a price target of 3.00 Emirati dirhams.(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)

ADX:BOROUGE

Equities42d ago

Kolibri Global Energy Raises 2026 Revenue Forecast

Kolibri Global Energy (KGEI) expects 2026 revenue of $78 million to $84 million, it said Monday.A single analyst surveyed by FactSet expects $88 million.The company said the revised forecast assumes a $70 oil price for the rest of the year.The company is also shifting strategy from mainly developing its Lower Caney in the company's Tishomingo field in Oklahoma to other benches that can be economically developed, including the False Caney, the Upper Caney, the T-zone, and the Sycamore, the company said.The company is also adding an additional well to its 2026 drilling program, which will target the False Caney, the company said.

$KGEI

Equities42d ago

IsoEnergy Temporarily Halts Exploration Activities at Larocque East Due to Saskatchewan Wildfire

IsoEnergy (ISO.TO) temporarily suspended exploration activities and evacuated most of its field personnel from the Larocque East project in northern Saskatchewan, due to a wildfire burning in the vicinity, it said in a statement on Monday.The uranium miner said that the Saskatchewan Public Safety Agency advised that conditions are too dangerous for exploration work to proceed, and that personnel could remain away from the project for up to one week, depending on changing wildfire conditions. Three contractors remain at the camp to operate pumps and sprinkler systems as a precaution to protect site infrastructure, the company said.IsoEnergy said all personnel have been accounted for and no injuries have been reported. IsoEnergy said that it does not expect a one-week evacuation to impact its ability to complete the current 8,000 meter drill program, based on current productivity and a "typical" summer drill season.Shares of IsoEnergy were last seen down 0.1% at $10.15 in pre-market trade on the NYSE American exchange.

$ISO.TO

Equities43d ago

OGDCL Kicks off Oil Production at Bobi Deep-1 Well in Pakistan

Oil and Gas Development Co. Ltd. (OGDC.L), d/b/a OGDCL, commenced oil production at its Bobi Deep-1 well at the Bobi and Dhamraki mining lease in Sanghar, Pakistan.The London-listed Pakistani oil and gas company said Monday the well is currently producing 2,000 barrels of oil per day.

$OGDC.L

Equities43d ago

TD Cowen Adjusts Price Target on Phillips 66 to $220 From $213, Maintains Buy Rating

Phillips 66 (PSX) has an average rating of overweight and mean price target of $196.53, 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)

$PSX

Equities43d ago

TD Cowen Adjusts Price Target on Marathon Petroleum to $315 From $320, Maintains Buy Rating

Marathon Petroleum (MPC) has an average rating of overweight and mean price target of $276.62, 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)

$MPC

Equities43d ago

TD Cowen Adjusts Price Target on Valero Energy to $292 From $276, Maintains Hold Rating

Valero Energy (VLO) has an average rating of overweight and mean price target of $268.94, 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)

$VLO

Equities43d ago

TD Cowen Upgrades PBF Energy to Hold From Sell, Adjusts Price Target to $39 From $36

PBF Energy (PBF) has an average rating of hold and mean price target of $45.09, 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)

$PBF

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