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Shell Recharge, SINEXCEL Launch EV Charging Innovation Lab in China

Shell's (SHEL) electric vehicle charging service Shell Recharge and SINEXCEL have launched a joint laboratory in Shenzhen, China, to develop EV charging technologies and energy solutions, the Chinese energy technology company said Tuesday.The companies also signed a memorandum of understanding covering collaboration in research and development, technical exchange and pilot projects, SINEXCEL said.The joint laboratory will focus on ultra-fast charging, smarter energy management, solar-storage charging systems, megawatt charging infrastructure and artificial intelligence-driven monitoring and maintenance technologies, SINEXCEL said.Financial terms were not disclosed.

$SHEL

Equities55d ago

ABL Group to Change Name to Aqualis

ABL Group (ABL.OL) will rebrand to its new name of Aqualis, according to a Tuesday release.The Norway-listed energy and marine consultancy company added that its ticker symbol will also change to AQUA. The changes are set to take effect on the Oslo bourse on Wednesday.

$ABL.OL

Equities55d ago

Market Chatter: ConocoPhillips Poised to Sign Syria Gas Development Deal

ConocoPhillips (COP) is set to become the first major US oil and gas company to sign a development agreement with Syria's new government, the Financial Times reported on Tuesday, citing people familiar with the matter.The deal, which is expected to be signed this week, would see ConocoPhillips and Novaterra Energy partner with the state-owned Syrian Petroleum Company to develop existing gas fields and explore for new reserves, according to the report.ConocoPhillips 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.)

$COP

Equities55d ago

AlphaValue/Baader Europe Revises Galp Energia Rating Amid TotalEnergies Partnership, Bacalhau's First Oil

AlphaValue/Baader Europe revised its rating on Galp Energia (GALP.LS), taking into account the start of production at the company's Bacalhau project and optimism over its partnership with TotalEnergies (TTE.L, TTE.PA) on the Mopane oil discovery in Namibia.The research firm changed its opinion to add from buy on Tuesday, with a price target of 21.3 euros.Analysts also increased their adjusted 2026 EPS estimate for the Portuguese energy company by 6.64% to 1.73 euros. For 2027, the projection was raised by 2.69% to 1.53 euros."The lower Brent deck (87/72/65 $/bbl vs 95/80/75) cuts upstream oil prices, but two changes more than make up for it. First, we have corrected depreciation, which was overstated. Fixing it lifts group EBIT by about EUR0.5bn a year and brings D&A back in line with the 2025 actual (EUR664m)," analysts said. "Second, the new EUR250m a year share buyback reduces the share count from about 736m to about 701m by 2028."

$GALP.LS$TTE.L$TTE.PA

Equities55d ago

Shell Recharge Signs MoU, Launches Joint EV Charging Lab in China With Sinexcel

Shell's (SHEL.L, SHELL.AS) electric vehicle charging service, Shell Recharge, signed a memorandum of understanding with Sinexcel and launched a joint laboratory in Shenzhen, China.The Shell Recharge-Sinexcel joint laboratory will act as a premier hub for technical exchange, collaborative research and development, project incubation, and pilot testing for EV charging services, according to a Tuesday release.The MoU is now in its active operational phase following the announcement.

$SHEL.L$SHELL.AS

Equities55d ago

Gulf Marine Services Confirms Return of Entire Fleet to Gulf

Gulf Marine Services (GMS.L) said Tuesday that all vessels that were temporarily evacuated from an unnamed Gulf country have returned to resume work on the same contracts.The offshore energy services company added that it is in discussions with its clients as it evaluates the financial impact of the disruption.

$GMS.L

Equities55d ago

Mendell Helium Shares Debut on London Bourse's AIM Segment

Shares of helium production company Mendell Helium (MDH.AQ) commenced trading on the London stock exchange's AIM segment on Tuesday, according to a same-day filing.As such, Mendell Helium's stock will be withdrawn from the Aquis Stock Exchange Growth Market's Access segment on June 30.

$MDH.AQ

Equities55d ago

India Raises Windfall Taxes on Diesel, Aviation Fuel Exports

India has raised windfall taxes on diesel and aviation fuel exports effective June 16, to ensure domestic availability of petroleum products by disincentivising exports in the backdrop of the West Asia crisis, according to an official statement on Monday.The rate of special additional excise duty (SAED) on export of diesel will be hiked to 14 per liter from 13.5 rupees per liter. SAED on export of aviation fuel will be 12.5 rupees per liter, up from 9.5 per liter, according to a Ministry of Finance notification.There is no change in the rate of duty on exports of petrol, and it remains 1.5 rupees per liter, with the prices applicable for the next fortnight starting June 16.

^BSENifty 50

Equities55d ago

Siegfried Launches New German Drug Substances Manufacturing Facility

Siegfried (SFZN.SW) launched its new drug substances manufacturing facility in Minden, Germany, according to a Tuesday release.The petrochemicals company's new facility is equipped with gravity-flow processing and radio frequency identification-enabled recipe management capabilities and expands its active pharmaceutical ingredient manufacturing output with 100 cubic meters of additional reactor capacity.

$SFZN.SW

Equities55d ago

Norway's Elopak Names Nel ASA Executive as New CEO

Elopak (ELO.OL) named Håkon Volldal as its new chief executive officer, with his appointment to take effect no later than the start of January 2027.Interim CEO Bent Kilsund Axelsen will return to his chief financial officer role afterwards, according to a Monday release.Volldal is joining the Norwegian sustainable packaging company from Nel ASA (NEL.OL), where he is the president and CEO.

$ELO.OL$NEL.OL

Equities55d ago

AlphaValue/Baader Europe Lowers Rating, Forecasts for Aker BP on Commodity Price Changes

AlphaValue/Baader Europe moved its rating for Aker BP (AKRBP.OL) to reduce from add, and slashed its earnings assumptions for the Norwegian oil exploration and development company following a recalibrated commodity environment.Analysts lowered their adjusted EPS estimates by 8.84% to $3.29 for 2026 and by 11.3% to $3.1 for 2027, according to a research report published Monday. The research firm attributed the revisions to the potential impact of a lower Brent deck on upstream realized liquids prices."The downward revision in Brent to 87/72/65$/bbl (from 95/80/75) pulls the three-year average operating EBIT reference (2026-28) down to approximately $6.9bn (from c.$8.0bn), a decline of around $1.1bn (~14%), with upstream E&P (Norway, International and US) carrying the bulk of the reduction," analysts added.The stock has a price target of 332 Norwegian kroner.

$AKRBP.OL

Equities55d ago

AlphaValue/Baader Europe Cuts Rating, Estimates for Equinor on Commodity Price Movement

AlphaValue/Baader Europe changed its rating for Equinor (EQNR.OL) to reduce from add and lowered its earnings assumptions for the Norwegian energy company following a recalibrated commodity environment.Analysts cut their adjusted EPS estimates by 6.05% to $5.11 for 2026 and by 7.82% to $4.01 for 2027, according to a research report published Monday. The research firm attributed the revisions to the potential impact of a lower Brent deck on upstream realized liquids prices.The stock has a price target of 346 Norwegian kroner.

$EQNR.OL

Equities55d ago

Worst of US Inflation May Be Over if Iran Peace Deal Holds

The worst of the recent rise in US inflation may have passed if the peace agreement between the US and Iran holds, Bloomberg reported Monday, citing economists who expect easing energy costs to reduce price pressures.Citigroup Chief US Economist Andrew Hollenhorst said that while energy markets remain difficult to forecast, "everybody would agree the direction is down" for oil prices following the agreement, according to the report.US annual inflation accelerated to 4.2% in May, the highest level in more than three years, with more than half of the monthly increase driven by energy costs, Bloomberg reported. Economists expect inflation to moderate as gasoline prices decline and shipping through the Strait of Hormuz gradually returns to normal."Second-round effects from the war - from crude oil into other commodity prices - also appear to have peaked," Bloomberg Economics Chief US Economist Anna Wong wrote in a note, according to the report.

Equities55d ago

International Petroleum Corp Achieves First Oil at Blackrod Phase 1 Ahead of Schedule

International Petroleum Corporation (IPCO) on Monday achieved first oil at Phase 1 of its Blackrod project on May 31, ahead of schedule and on budget at $855 million against an original estimate of $850 million.The Canadian oil sands project is expected to reach plateau production of 30,000 barrels per day by late 2027, a quarter earlier than originally guided, the company said.Phase 1 holds 2P reserves of 311 million barrels, with a further 1.1 billion barrels of contingent resources across the broader Blackrod property, according to the statement.IPC holds a 100% working interest and has regulatory approval to expand production to 80,000 barrels per day in future phases, the company said.

$IPCO

Equities55d ago

Market Chatter: Polymarket Faces $345 Million Dispute Over US-Iran Peace Deal Contracts

Polymarket, the prediction market platform, is grappling with a dispute over more than $345 million in bets tied to a US-Iran peace deal after the two countries announced an interim agreement over the weekend, Bloomberg reported Monday.Traders are split on whether the announcement meets the contract terms, which require a deal explicitly stating that military hostilities have "permanently ceased," the report said.The two countries announced a 60-day interim agreement Monday to reopen the Strait of Hormuz, with a memorandum of understanding expected to be signed in Switzerland on Friday, according to the report.Resolution of the disputed contracts will be decided by holders of UMA, the cryptocurrency used to handle market challenges on Polymarket, with a vote expected later this week, Bloomberg said.(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.)

Equities55d ago

Market Chatter: US Strategic Petroleum Reserve Hits 40-Year Low Amid Iran War

The US Strategic Petroleum Reserve fell to 340.3 million barrels as of June 12, its lowest level since 1983, as emergency releases continue to offset supply disruptions caused by the Iran war, CNBC reported Monday.The reserve dropped nearly 9 million barrels in a single week, according to the report.The US and Iran are set to sign a deal Friday to reopen the Strait of Hormuz, though analysts warn inventory draws will continue for weeks to months as oil flows normalize, the report said.The US committed to releasing 172 million barrels in March as part of a coordinated 400 million barrel release by International Energy Agency members, the largest such intervention in the organization's history, CNBC said.(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.)

Equities55d ago

Comstock Reports $600 Million Sixth Street Investment in Pinnacle

Comstock Resources (CRK) said late Monday it has sold a minority equity interest in its midstream subsidiary, Pinnacle Gas Services, to some funds managed by Sixth Street.Sixth Street invested $600 million for a 27% interest, valuing Pinnacle at a $2.2 billion enterprise value, the company said.Comstock said the use of proceeds included to retire the Pinnacle preferred equity securities for $445 million, all outstanding debt at Pinnacle, and for working capital.

$CRK

Equities56d ago

Seadrill Unit Prices Offering of Senior Notes due 2034

Seadrill (SDRL) said late Monday it its unit Seadrill Finance priced an upsized offering of $700 million of 6.75% senior notes due 2034.The offering is expected to be completed on June 30, subject to closing conditions, according to a statement.Net proceeds will be used to redeem the subsidiary's outstanding 8.375% senior secured second lien notes due 2030, cover offering-related costs, and for general corporate purposes, the company said.

$SDRL

Equities56d ago

US Equity Markets End Higher After US, Iran Confirm Peace Framework Agreement; Crude Oil Prices Fall

US equity indexes were higher on Monday after the US and Iran agreed on a peace framework and crude oil prices fell.* Iran's Supreme National Security Council confirmed on Sunday that a memorandum of understanding had been reached, with military operations on all fronts set to cease immediately. The peace deal will end the US blockade of Iranian ports and reopen the Strait of Hormuz, according to multiple media reports.* Industrial production rose by 0.1% in May, compared with expectations for a larger 0.3% increase in a Bloomberg-compiled survey, and following an upwardly revised 0.9% increase in April.* The New York Federal Reserve's Empire State manufacturing index fell to 5.7 in June from 19.6 in May, compared with a smaller expected decrease to 13.5 in a survey compiled by Bloomberg.* July West Texas Intermediate crude oil fell $3.45 to settle at $81.43 per barrel, while August Brent crude, the global benchmark, was last seen down $3.62 at $83.71.* Western Digital (WDC) shares were up nearly 16%, the top gainer on the S&P 500 and Nasdaq, after Morgan Stanley raised the company's price target to $650 from $488 while keeping its overweight rating, citing rising demand for Hard Disk Drives.* Fox (FOX, FOXA) shares fell roughly 16%, the worst performer on the S&P 500, after the company agreed to acquire Roku (ROKU) in a cash-and-stock deal that values the TV streaming platform at about $22 billion, creating a media and technology entity with one of the largest streaming businesses in the US.

Dow JonesNasdaq CompositeS&P 500$FOX$FOX.A$ROKU$WDC

Equities56d ago

Nel's President/CEO to Step Down

Nel (NEL.OL) said Monday that Håkon Volldal will step down as president and chief executive officer for another professional opportunity.Volldal has a six-month notice period and will remain in his role while the Norwegian hydrogen technology company begins its recruitment process for a new CEO.

$NEL.OL

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