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RBC Upgrades Tamboran Resources to Outperform From Sector Perform, Raises Price Target to $55 From $38, Keeps Speculative Risk

Tamboran Resources (TBN) has an average rating of buy and mean price target of $57.40 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)

$TBN

Equities56d ago

Equinor Extends Soiltech's Waste Management Contract

Soiltech (STECH.OL) secured an extension in its contract to provide offshore waste management services to oil and gas company Equinor (EQNR.OL), according to a Wednesday release.Equinor, which extended the contract until May 31, 2028, still has three two-year extension options under the deal.

$EQNR.OL$STECH.OL

Equities56d ago

Serica Energy Prices $300 Million Senior Notes

Serica Energy (SQZ.L) said Wednesday it placed $300 million of five-year senior unsecured bonds with a coupon of 7.875%, following strong investor demand across the Nordics, the UK, and other geographies.The oil and gas company noted that the offering was significantly oversubscribed, with settlement of the bond issue due on May 12. It plans to list the bonds on Euronext ABM in Oslo.The net proceeds will be used to fully repay drawn Reserve Based Lending debt and to boost liquidity.

$SQZ.L

Equities56d ago

Helium One Appoints New Chairman

UK-listed helium explorer Helium One Global (HE1.L) said Wednesday it appointed Clive Carver as nonexecutive chairman with immediate effect.Carver, who currently chairs Caspian Sunrise (CASP.L) and Built Cybernetics (BUC.L), succeeds James Smith.

$BUC.L$CASP.L$HE1.L

Equities56d ago

Woodside Energy Q1 Revenue Decreases; 2026 Production Guidance Maintained

Woodside Energy (WDS) reported Q1 revenue late Tuesday of $3.26 billion, down from $3.32 billion a year earlier.Two analysts polled by FactSet expected $3.29 billion.The company also maintained its 2026 production guidance of between 172 million and 186 million barrels of oil equivalent.Shares of the company rose more than 2% in recent premarket activity Wednesday.

$WDS

Equities56d ago

Aker Solutions to Develop Framed Modules Components for Rolls-Royce SMR

Aker Solutions (AKSO.OL) secured a deal to develop non-nuclear parts of framed modules for Rolls-Royce (RR.L) unit Rolls-Royce SMR, according to a Wednesday release.Under a memorandum of understanding, the Norwegian energy-focused engineering group will work with Rolls-Royce SMR to define the design and scope, and modularization approach for customer projects in the UK and other countries, with an initial focus on the UK and the Czech Republic.

$AKSO.OL$RR.L

Equities56d ago

TotalEnergies Q1 Adjusted Earnings, Revenue Rise

TotalEnergies (TTE) reported Wednesday Q1 adjusted earnings of $2.45 per diluted share, up from $1.83 per share a year earlier.Analysts polled by FactSet expected $2.16 per share.Revenue for the quarter was $54.16 billion, up from $52.25 billion a year earlier.Analysts surveyed by FactSet expected $44.58 billion.The oil major expects annual net investments of over $15 billion in 2026, it said.Q2 production is forecast to grow 4% year-over-year, excluding the impact of the conflict in the Middle East, TotalEnergies said.

$TTE

Equities56d ago

TotalEnergies Acquires 50% Stake in EPH's Flexible Power Generation Platform in Europe

TotalEnergies (TTE.PA, TTE.L) completed the acquisition of a 50% stake in Energetický a průmyslový holding, or EPH's, flexible power generation platform in Western Europe.The French energy giant said Wednesday the transaction, effective the same day, forms a new Amsterdam-based entity, TTEP, and the company will issue about 95.4 million shares to EPH, giving it an about 4.2% stake.TTEP, through its subsidiaries, owns and operates gas, biomass-based power plants, and battery energy storage systems assets across Italy, the UK, Ireland, the Netherlands, and France.

$TTE.L$TTE.PA

Equities56d ago

National Gas and Industrialization Wins Regulatory Nod for Jacko Gases Stake Purchase

National Gas and Industrialization Co. (SASE:2080) obtained a no-objection notice for its acquisition of a 50% stake in Jacko Gases.The notice from the General Authority for Competition is related to the economic concentration of the transaction, according to a Wednesday release.The liquefied petroleum gas retailer added that the 125 million-Saudi-riyal acquisition remains subject to other regulatory processes.

SASE:2080

Equities56d ago

RBC Trims Earnings Estimates for BP After Q1 Earnings; Sector Perform Rating Kept

RBC Capital Markets made "small changes" to its financial forecasts for BP (BP.L) after its first-quarter earnings, while maintaining its sector perform rating and price target of 7 pounds sterling."New CEO Meg O'Neill kicked off her tenure with a strong set of results, helped in large part by the current price environment," analysts said Tuesday. "In this respect, BP's Oil trading business was the standout in the quarter (as expected, but a bit more than expected) and actually made up for upstream results that were weaker than consensus expectations ([oil production and operations] 6% miss, [gas and low carbon] 10% miss)."As such, the research firm lowered its OPO and GLC earnings assumptions for 2026, while raising its estimate for downstream earnings. EPS projections were cut by 2.6% for 2026, 2.4% for 2027, and 2.5% for 2028.Meanwhile, analysts said the oil and gas company's plan to reduce its hybrid stack is a "positive step forward" in de-leveraging the business, as they expect BP to exceed its "conservative" net debt target by 2026-end.

$BP.L

Equities56d ago

TotalEnergies Logs Higher Q1 Net Income, Sales

TotalEnergies (TTE.PA, TTE.L) said Wednesday that consolidated net income and sales rose year over year in the first quarter.The group's share of consolidated net income for the three months ended March 31 was $5.81 billion, compared with $3.85 billion earlier. EPS moved to $2.64 from $1.68.The French energy giant's sales were $54.16 billion, compared with $52.25 billion a year ago.Meanwhile, the board will pay a dividend of 0.90 euro per share for the first quarter, payable on Oct. 2 to Euronext shareholders and Oct. 21 for New York bourse shareholders. It paid 0.85 euro per share a year ago.

$TTE.L$TTE.PA

Equities56d ago

RBC Tweaks Model for Saudi Aramco Ahead of Q1 Results; Sector Perform Rating Reiterated

RBC Capital Markets updated its model for Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, ahead of the Saudi state-run oil giant's first-quarter results in May."Our production estimates in the upstream move lower as we incorporate the latest market data. Our forecasts assume continued disruptions for April and May, with a return closer to normal level by 3Q. Seasonally lower costs qoq in the upstream will benefit earnings in 1Q26. Downstream earnings should feel the benefit of higher refining margins in the quarter," analysts said Tuesday, noting they are also accounting for the research firm's higher commodity price forecast.As such, RBC boosted its adjusted group net income for the first quarter of 2026 to $32 billion from $30.2 billion, and raised its EPS forecasts for full-year 2027 and 2028.The stock is still rated at sector perform, with an unchanged price target of 34 Saudi riyals.

SASE:2222

Equities56d ago

Galp Energia Kept at Buy as BofA Notes Brazil Production, Namibia Potential

BofA Global Research affirmed its investment case for Galp Energia (GALP.LS), noting the Portuguese energy company's production growth "begins to bear fruit" in Brazil alongside long-term potential seen in Namibia."Galp's 1Q26 results showcased its first signs of growth, beating on EBITDA by 6%. We expect Bacalhau's continued ramp-up in Brazil to drive FY26e production up 17% Y/Y and c.30% by FY27e (vs FY25). We see discoveries in Namibia as Galp's key point of difference; we estimate these underscore a company reserve life of c.20yrs, which betters most European Integrated Oils. Namibia could represent towards ~100 [thousand barrels per day] net production to Galp by the early 2030s versus Within this context, the research firm trimmed its 2026 and 2028 EPS projections, alongside a 1% cut to its 2026 EBITDA estimate amid lower profitability in industrials and midstream. On the other hand, analysts raised their production forecast by 2% to 130kb/d, aligning with the top range of management's target of 125kb/d to 130kb/d.BofA also continues to expect a 10% free cash flow yield for the year at $93 per barrel Brent price, which analysts believe Galp can sustain through 2028, even at the $75/bbl Brent forecast.

$GALP.LS

Equities56d ago

Middle East War to Push Up Food Costs, World Bank Says

The World Bank, on Tuesday, warned the Middle East conflict is set to drive up global food costs, as surging energy prices lift fertilizer prices and strain agricultural output.Fertilizer prices are projected to rise 31% in 2026, including a sharp increase in urea prices, reducing affordability for farmers and threatening crop yields, the bank said.The bank added that up to 45 million more people are at risk of being pushed into acute food insecurity this year if the conflict persists, as higher input costs ripple through global food supply chains.The World Bank said the shock highlights how energy disruptions are feeding into food inflation, with the poorest populations the most exposed to rising costs.

Equities56d ago

RPC Keeps Quarterly Dividend at $0.04 a Share, Payable June 10 to Holders of Record May 11

$RES

Equities56d ago

Northern Oil and Gas Q1 Adjusted Earnings, Revenue Decline

Northern Oil and Gas (NOG) Q1 adjusted earnings late Tuesday of $0.74 per diluted share, down from $1.33 a year earlier.Analysts polled by FactSet expected $0.68.Revenue for the quarter ended March 31 was $5 million, compared with $602.1 million a year earlier.Analysts surveyed by FactSet expected $511.4 million.

$NOG

Equities56d ago

Expand Energy Q1 Adjusted Earnings, Revenue Rise

Expand Energy (EXE) reported Q1 adjusted earnings late Tuesday of $3.83 per diluted share, up from $2.02 a year earlier.Analysts polled by FactSet expected $3.61.Revenue in the three months ended March 31 rose to $4.40 billion from $2.20 billion a year earlier.Analysts surveyed by FactSet expected $3.53 billion.

$EXE

Equities56d ago

UAE to Withdraw From OPEC; Rystad Energy Says Decision Leaves Cartel 'Structurally Weaker'

The United Arab Emirates will leave the Organization of the Petroleum Exporting Countries on Friday, in a move that Rystad Energy said makes the cartel "structurally weaker."The UAE has been a member of OPEC for more than five decades.Its decision enhances the "flexibility to respond to market dynamics while continuing to contribute to stability in a measured and responsible manner," according to an article by state-owned Emirates News Agency. That article was also shared by UAE Minister of Energy and Infrastructure Suhail Al Mazrouei on social media platform X.The oil market has faced broad supply disruptions tied to the US-Israel war with Iran. The conflict paused following a ceasefire between the US and Iran and later between Israel and Lebanon."This decision reflects the UAE's long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production," according to the Emirates News Agency article.The UAE is one of the few OPEC members, including Saudi Arabia, that have spare capacity, Rystad Energy said in a note. OPEC uses a production quota system to stabilize global oil markets."Its departure therefore removes one of the core pillars underpinning OPEC's ability to manage the market," Rystad Head of Geopolitical Analysis Jorge Leon wrote.With the UAE walking away, Saudi Arabia will have to undertake more of the heavy lifting on price stability, Leon said."While near-term effects may be muted given ongoing disruption in the Strait of Hormuz and broader geopolitical uncertainty, the longer-term implications are more consequential," Leon said. "A structurally weaker OPEC, with less spare capacity concentrated within the group, will find it increasingly difficult to calibrate supply and stabilize prices."Brent crude was 2.4% higher at $110.82 per barrel, while West Texas Intermediate rose 3.3% to $99.56.

Equities56d ago

UAE Exit From OPEC, OPEC+ Removes Key Pillar of Market Control, Rystad Energy Says

The United Arab Emirates's departure from the Organization of the Petroleum Exporting Countries and OPEC+ removes a key pillar supporting the group's ability to manage global oil markets, Rystad Energy said in a note Tuesday."Losing a member with 4.8 million barrels per day of capacity, and the ambition to produce more, takes a real tool out of the group's hands," analyst Jorge Leon said.The timing also signals where the oil market is heading. With demand nearing a peak, the calculation for producers with low-cost barrels is quickly changing, and waiting under a quota system can start to look like leaving money on the table, he added.As a result, Saudi Arabia is left doing more of the heavy lifting to maintain price stability, while the market loses one of its remaining shock absorbers, Leon said.In the short term, the impact may be limited due to ongoing disruption in the Strait of Hormuz and overall geopolitical tensions but the longer term effects would be more consequential. "A structurally weaker OPEC, with less spare capacity concentrated within the group, will find it increasingly difficult to calibrate supply and stabilize prices," the analyst said.The UAE is set to leave OPEC and OPEC+ on May 1, the Emirates News Agency said earlier Tuesday.

Equities56d ago

BP Says Focused on Delivering 'Stronger' Balance Sheet Amid Q1 Profit Surge

BP (BP.L) is focused on rebuilding its balance sheet rather than reinstating share buybacks, even as its first-quarter profit surged amid the Middle East conflict, Bloomberg News reported Tuesday.In a phone interview, Chief Financial Officer Kate Thomson, alongside new Chief Executive Officer Meg O'Neill, said the British energy major is "completely focused right now on delivering a stronger balance sheet," adding that it will cut debt and perpetual hybrid bonds to improve its financial position.Thomson noted that share repurchases "ultimately will remain a tool as and when appropriate."

$BP.L

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Equities56d ago