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Orlen Says Saudi Aramco Oil Deliveries On Track Amid Middle East Conflict

Orlen (PKN.WA) said oil deliveries from Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, remain on schedule and in line with contracted volumes despite the ongoing Middle East conflict, Reuters reported Tuesday.The Polish state-owned energy group, which is receiving supplies from Aramco through the Red Sea port of Yanbu, told the news outlet that it also does not expect any changes in May.In addition, Orlen said it is prepared to meet existing contracts and secure supplies ahead of the seasonal peak demand period from May to September.

$PKN.WASASE:2222

Equities56d ago

UAE to Exit OPEC, OPEC+ on May 1

The United Arab Emirates will exit the Organisation of the Petroleum Exporting Countries, with effect from May 1, the WAM news agency reported Tuesday.The country decided to leave both OPEC and OPEC+, taking into account its national interest following a review of its production policy, as well as its existing and future capacity, according to the report.The move comes amid energy market volatility, including disruptions in the Arabian Gulf and the Strait of Hormuz.

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Equities56d ago

Sector Update: Energy

Energy stocks were higher premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 1.4%.The United States Oil Fund (USO) rose 3.3%, while the United States Natural Gas Fund (UNG) was 1% higher.Front-month US West Texas Intermediate crude oil was up 3.5% to $99.66 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.4% to $104.20 per barrel, and natural gas futures were 0.6% lower at $2.71 per 1 million British Thermal Units.BP (BP) stock was more than 2% higher before the opening bell after the company reported higher Q1 underlying replacement cost profit and sales.

$BP$UNG$USO$XLE

Equities56d ago

UAE to Exit OPEC, OPEC+ on May 1

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Equities56d ago

Morgan Stanley Adjusts Price Target on Coterra Energy to $42 From $28, Maintains Equalweight Rating

Coterra Energy (CTRA) has an average rating of overweight and mean price target of $37.24, 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)

$CTRA

Equities56d ago

Saudi Arabia Could Lower June Crude Prices to Asia Amid Slower Demand

Saudi Arabia may trim its June official crude selling prices to Asia from May levels, amid easing spot premiums and softer demand, Reuters reported Tuesday, citing a survey of industry sources.The survey indicated that the price for Arab Light crude in June could be lowered to a premium of $7.50 per barrel to $14.50 per barrel above the average Dubai and Oman benchmarks, which would translate to a $5 per barrel to $12 per barrel drop from official selling prices in May.

^TASI

Equities56d ago

Market Chatter: Saudi Aramco Said to Pause LPG Shipments Until May After Facility Damage

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, will continue suspending liquefied petroleum gas shipments from its Juaymah facility in Saudi Arabia through May, Bloomberg News wrote Tuesday, citing sources.People familiar with the matter told the news outlet that necessary repairs at Juaymah have not been made yet. The facility's support structure collapsed before the Middle East war started in February.The Saudi state-run oil giant 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

Equities56d ago

Morgan Stanley Adjusts APA Price Target to $43 From $22, Maintains Underweight Rating

APA (APA) has an average rating of Hold and mean price target of $40.89, 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)

$APA

Equities56d ago

Morgan Stanley Adjusts Price Target on EOG Resources to $155 From $128, Maintains Equalweight Rating

EOG Resources (EOG) has an average rating of overweight and mean price target of $155.97, 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)

$EOG

Equities56d ago

Morgan Stanley Adjusts Price Target on Occidental Petroleum to $73 From $53, Maintains Equalweight Rating

Occidental Petroleum (OXY) has an average rating of hold and mean price target of $64.38, 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)

$OXY

Equities56d ago

Morgan Stanley Adjusts Diamondback Energy PT to $224 From $220, Maintains Overweight Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $223.16, 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)

$FANG

Equities56d ago

Top Premarket Decliners

Erasca (ERAS) shares were down 48% in Tuesday premarket activity, continuing Monday's loss.Greenland Energy (GLND) stock was 37% lower after the company said late Monday it priced a $70 million offering of 17.5 million shares at $4 apiece.High-Trend International (HTCO) shares were down 24%, shaving gains from the previous session.Rambus (RMBS) shares were 18% lower after Baird downgraded the company to neutral from outperform.NOV (NOV) stock was down 2% after the company posted overnight lower Q1 net income and revenue.

$ERAS$GLND$HTCO$NOV$RMBS

Equities56d ago

Morgan Stanley Adjusts Price Target on Chevron to $212 From $174, Maintains Overweight Rating

Chevron (CVX) has an average rating of overweight and mean price target of $211.17, 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)

$CVX

Equities56d ago

Morgan Stanley Adjusts Price Target on Exxon Mobil to $171 From $172, Maintains Overweight Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $165.35, 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)

$XOM

Equities56d ago

Morgan Stanley Adjusts Marathon Petroleum Price Target to $233 From $200, Maintains Overweight Rating

Marathon Petroleum (MPC) has an average rating of overweight and mean price target of $253.25, 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)

$MPC

Equities56d ago

Capital One Adjusts Price Target on EQT to $68 From $64, Maintains Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $70.91, 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)

$EQT

Equities57d ago

Active Energy Plans UAE Pilot Deployment Under Bitdeer Partnership

Active Energy Group (AEG.L) said Tuesday it agreed in principle to use its 8MVA site in the UAE as an initial pilot deployment under a proposed partnership with Bitdeer Technologies Group, subject to a final agreement.The UK-listed renewable energy company's site, which is nearing energization, will be used to evaluate the technical, commercial and operational aspects of the model ahead of any broader rollout.Active Energy added it is carrying out configuration and optimization work to align the asset with the proposed partnership.

$AEG.L

Equities57d ago

RBC Expects Higher Targets, Share Buyback Boost in Galp Energia's Q2 Update; Outperform Rating Maintained

RBC Capital Markets expects Galp Energia (GALP.LS) to raise its profit targets and share buybacks, with the announcement expected around July when it publishes its second-quarter results."Galp looks set to benefit across its businesses from the current environment, with oil production ramping into higher prices, refining margins benefiting from a tight oil products market and its midstream segment supported by wider HH-TTF spreads. We maintain our Outperform rating and EUR22 Price Target," according to a Monday note.Within this context, the research firm sees scope for the Portuguese energy company to double its buyback program to 500 million euros, based on the Brent forecast of $91 per barrel.As part of a model update, analysts also made minor tweaks to their EBITDA and EPS forecasts for full-year 2026 through 2028 following the publication of Galp Energia's first-quarter 2026 update.

$GALP.LS

Equities57d ago

Petrobras Agrees to Acquire Stake in Offshore Campos Basin Oil Field

Petrobras (PBR) said Monday it has agreed to acquire 100% of a portion of the Argonauta Field in the Campos Basin, which is currently owned by Shell (SHEL), ONGC, and Brava, for 700 million Brazilian reals ($140.1 million) and $150 million in cash.Under the deal, the payment will be made in three installments, with 100 million reals upon closing; 600 million reals on Jan. 15 or at closing, whichever occurs later; and a final installment of $150 million two years after closing, the company said.The portion acquired includes an area of the offshore Argonauta oil field that holds 0.86% of the shared pre-salt Jubarte, the company said.Upon completion of the transaction, Petrobras will hold a 98.1% interest in Jubarte while the Brazilian government will maintain a 1.9% stake, the company said.

$PBR$SHEL

Equities57d ago

Market Chatter: Chevron in Final Talks to Sell Asian Assets to Eneos

Chevron (CVX) is in advanced talks to sell a portfolio of Asian assets to Eneos in a deal that could be valued at more than $2 billion, Bloomberg News reported Tuesday, citing sources familiar with the matter.The assets include refineries and fuel retail networks across Singapore, Malaysia, the Philippines and Australia, the unnamed sources told the news outlet.The companies are aiming to reach an agreement as early as the ongoing quarter, according to the report.Eneos has emerged as the last remaining bidder, ahead of rivals such as Glencore and Vitol, Bloomberg reported.Chevron and Eneos didn't immediately respond to' requests 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.)

$CVX

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