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Akastor Unit to Sell Skandi Emerald Ship for $23 Million

Akastor's (AKAST.OL) DDW Offshore subsidiary agreed to divest its Skandi Emerald vessel for $23 million.The agreement that follows amended Saleform 2012 terms will conclude in the second quarter of 2026, subject to customary requirements, according to a Monday release.The Norwegian oil-services investor added that the sale will decrease its unit's revolving credit facility value to $8 million from $16 million.

$AKAST.OL

Equities57d ago

Market Chatter: TotalEnergies' Wind Farm Venture Delays Government Contract in UK

The UK's Seagreen wind farm, which is 25.5%-owned by TotalEnergies (TTE), has delayed a fixed-price government contract, preferring to sell electricity at higher market rates, Bloomberg reported Monday, citing data that it compiled.Seagreen will delay the contract until fall, instead of starting at the end of March, Bloomberg reported, citing the data.Seagreen is 49%-owned by SSE Renewables, while Thailand's PTTEP owns the remaining 25.5% stake, according to TotalEnergies' website.TotalEnergies and SSE did not immediately respond to' requests for comments.(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.)

$TTE

Equities57d ago

88 Energy Unit Extends Funding Deadline for Alaskan Oil Project

88 Energy's (88E.L) Accumulate Energy Alaska agreed to extend Burgundy Xploration's funding milestone timeline under their participation agreement for Project Phoenix, on the North Slope of Alaska, to Sept. 30.The deadline was moved following the US Securities and Exchange Commission's extended review schedule for Burgundy's planned initial public offering, the oil and gas exploration company said Monday. It added that the new date is "finite and sufficient" for Burgundy to deliver on its funding requirements for the oil project.As consideration for the extension, Burgundy will pay Accumulate Energy Alaska a $100,000 amendment fee and an additional $300,000 in relation to the outstanding Icewine 3D consideration.

$88E.L

Equities57d ago

Europa Oil & Gas' Well Plan in UK Town Faces Local Opposition

Europa Oil & Gas (EOG.L) said Monday that the North Yorkshire Council planning committee is minded not to approve a proposed well at its Cloughton prospect in Burniston, UK.The oil and gas company noted that the proposal had received a positive recommendation from the council's planning department. It plans to appeal the decision once a final recommendation is issued, saying it is confident that the planned well will be approved on appeal.

$EOG.L

Equities58d ago

Advanced Petrochemical Posts Lower Q1 Attributable Profit; Revenue Up

Advanced Petrochemical Co. (SASE:2330) said Monday its attributable net profit in the first quarter fell, while revenue grew year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 30 million Saudi riyals, compared with 72 million riyals earlier. EPS moved to 0.116 riyal from 0.277 riyal.The Tadawul-listed propylene and polypropylene products company's revenue was 1.08 billion riyals, compared with 614 million riyals a year ago.

SASE:2330

Equities58d ago

Equinor Extends Archer's Wireline Services Contract

Archer (ARCH.OL) said Monday that oil and gas company Equinor (EQNR.OL) extended its wireline services contract on the Norwegian Continental Shelf with the company for three years.The Norwegian drilling and well services company noted the 3 billion-Norwegian-krone extension builds on the original contract signed between the companies in 2021.

$ARCH.OL$EQNR.OL

Equities58d ago

Panoro Energy CEO to Retire; Executive Chair Named as Successor

Panoro Energy (PEN.OL) Group Chief Executive Officer John Hamilton will retire after the annual general meeting on May 21, according to a Monday release.The Norwegian oil and gas company appointed Executive Chair Julien Balkany as Hamilton's successor, effective Jan. 1, 2027. The company added that Hamilton will remain in the company as a nonexecutive director.Additionally, the company noted that Deputy Chairman Torstein Sanness will assume the emeritus chairman position.

$PEN.OL

Equities58d ago

Moody's Keeps Norway's Ratings, Stable Outlook on Economic Strength

Moody's maintained the government of Norway's Aaa long-term issuer ratings with a stable outlook.The rating affirmation is supported by the country's "exceptionally strong" public sector balance sheet, "very low" risk to debt sustainability, institutional setup, wealth levels, and diversification offered by the Government Pension Fund Global's assets, according to an April 24 release.The stable outlook, meanwhile, reflects the lack of downward pressure on Norway's ratings, with Moody's noting the European country's effective fiscal and monetary policy response to potential shocks.Amid the Middle East conflict, the rating agency expects a "broadly neutral" impact on Norway's credit profile as higher government revenue due to energy price hikes is offset by upward pressure on inflation.

^SXXP

Equities58d ago

Lu'an Environmental Energy 2025 Profit Down 54%; Shares Up 3%

Shanxi Lu'an Environmental Energy Development (SHA:601699) posted 2025 attributable net profit of 1.12 billion yuan, down 54% from 2.45 billion yuan the previous year.Earnings per share declined to 0.37 yuan from 0.82 yuan, according to a weekend filing with the Shanghai bourse.Operating revenue fell 22% year over year to 27.8 billion yuan from 35.9 billion yuan.Shares of the coal miner rose 3% in recent trade.

SHA:601699

Equities58d ago

SLB CEO Expects More Investments in Exploration Once Middle East Conflict Subsides

SLB (SCL.F) Chief Executive Officer Olivier Le Peuch expects additional investments in exploration following the conflict in the Middle East, particularly the US-Israeli war with Iran, Reuters reported April 24.Le Peuch said additional investments will stem from many countries' prioritization of supply diversification. He expects projects, including deepwater offshore developments in North America and Latin America, to benefit from the anticipated trend.The oilfield services company's chief also expects oil prices to increase following the war, compared with levels before it broke out.

$SCL.F

Equities59d ago

Petro Rabigh Emerges From Loss in Q1; Revenue Grows

Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, said Sunday it swung back to profit in the first quarter of 2026, while revenue increased year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 1.47 billion Saudi riyals, compared with the attributable loss of 691 million riyals earlier. EPS moved to 0.88 riyal from a loss per share of 0.41 riyal.The Tadawul-listed oil refining and petrochemical company's revenue was 14.85 billion riyals, compared with 11.21 billion riyals a year ago.

SASE:2380

Equities60d ago

Heidmar Maritime Gets Nasdaq Notice Over Minimum Bid Price

Heidmar Maritime (HMR) said Friday it received a notice from Nasdaq indicating the company is not in compliance with the exchange's minimum bid price requirement after its shares traded below $1 per share for 30 consecutive business days.The company said it has until Oct. 19, 2026, to regain compliance with the requirement.Heidmar said it intends to monitor its share price and consider available options to regain compliance within the allowed timeframe. Its shares will continue to trade on Nasdaq during the grace period and the notice does not affect the company's business operations.Shares of Heidmar Maritime were down 3.6% in after-hours trading.

$HMR

Equities60d ago

S&P 500 Posts Fourth Consecutive Weekly Gain, Hits New Highs

The Standard & Poor's 500 index rose 0.55% this week to another round of fresh highs, led by the energy and technology sectors as oil prices climbed and Intel's (INTC) earnings topped views.The S&P 500 ended Friday's session at 7,165.08, its highest closing level yet. The market benchmark also reached a fresh intraday high on Friday at 7,168.59.This marks the S&P 500's fourth weekly gain in a row. It's up 9.8% for April and 4.7% for the year.US retail sales last month logged the largest rise since March 2025, data released earlier this week showed. The increase, however, came amid a surge in spending at gasoline station as the Middle East conflict led to higher prices.US consumer sentiment improved from an initial April estimate, and consumer sentiment remained at a record low as near-term inflation expectations logged the biggest monthly increase in a year, according to final University of Michigan survey results.The energy sector led the week's advance, rising 3.2%, followed by a 3.1% increase in technology and a 1.2% rise in consumer staples. Utilities and materials also edged higher.The energy sector's increase came as crude oil futures rose amid continued uncertainty in the Middle East.Baker Hughes (BKR) had the largest percentage gain in the energy sector, climbing 15% as the company reported Q1 adjusted earnings and revenue above analysts' mean estimates.The technology sector was boosted by stronger-than expected first-quarter results from Intel amid artificial intelligence-driven demand. The chip maker also issued an upbeat Q2 outlook. Its shares jumped 21% on the week.On the downside, health care fell 3.1%, followed by a 1.9% drop in financials and a 1.5% slip in real estate. Communication services, industrials and consumer discretionary also edged lower.HCA Healthcare (HCA) led the decliners in health care, falling 11%. The hospital operator's first-quarter results exceeded market expectations but the company also said it didn't experience its typical increase in seasonal volume during the quarter, mainly due to a drop in admissions related to respiratory issues.Thermo Fisher Scientific (TMO) also lost 11%. The medical device manufacturer raised its full-year outlook as first-quarter results came in stronger than expected, but investors were disappointed by its organic growth, which fell short of analysts' estimates.Next week's earnings calendar features a number of large companies including Google parent Alphabet (GOOG), Microsoft (MSFT), Amazon.com (AMZN), Facebook parent Meta Platforms (META), Apple (AAPL), Eli Lilly (LLY), Mastercard (MA), Caterpillar (CAT), Merck (MRK), Berkshire Hathaway (BRK.A, BRK.B), Verizon Communications (VZ), Visa (V) and Coca-Cola (KO).Economic data will include Q1 gross domestic product, March personal consumption expenditures and April consumer confidence, among other reports.The Federal Reserve's Federal Open Market Committee will hold a two-day rate policy meeting, concluding on Wednesday.

Dow JonesNasdaq CompositeS&P 500$BKR$HCA$INTC$TMO

Equities60d ago

Star Energy Group to Sell Croatian Geothermal Unit to Enna Geo

Star Energy Group (STAR.L) on Friday said it inked a deal to sell its subsidiary IGeoPen, which owns three geothermal exploration licenses in Croatia, to Enna Geo.The deal includes an initial cash consideration of 1.5 million euros and a financial earnout of 500,000 euros per license. Star Energy expects to receive 1.3 million euros from the cash consideration and another 1.5 million euros from the earnout portion, consistent with shareholder deals for IGeoPen's direct parent, A14 Energy.The AIM-listed energy company said the sale of IGeoPen was due to a delay in the announcement of a premium price tariff for geothermal projects by the Croatian government.A14 Energy is 71%-owned by Star Energy, with the remaining 29% held by Peninsula International Pte. Ltd.

$STAR.L

Equities60d ago

Alpha Metallurgical Resources Reports Q1 Preliminary Loss; Shares Fall Pre-Bell

Alpha Metallurgical Resources (AMR) reported a preliminary Q1 net loss Friday of $0.86 per diluted share.Coal revenue for the quarter ended March 31 was $523.5 million.Three analysts surveyed by FactSet expected $559.8 million.Shares of the company were down 9.7% pre-bell.

$AMR

Equities60d ago

Deutsche Bank Adjusts Teck Resources Price Target to $64 From $62, Maintains Buy Rating

$TECK

Equities60d ago

Feds Approve Enbridge's British Columbia Natural Gas Pipeline Expansion

The Federal government has approved Enbridge's (ENB.TO) $4 billion natural gas expansion of its Westcoast pipeline system in British Columbia, the company said on Friday.The Sunrise expansion program will add 300 million cubic feet per day of natural gas transportation capacity to the southern portion of the Westcoast pipeline system. Natural gas transported on the Westcoast system is used to heat homes, hospitals, businesses, and schools, and also supports electric power generation, industrial activity across B.C. and global LNG exports.The project will contribute more than $3 billion to Canada's economy, and will see 2,500 workers being hired during construction. More than $52 million has been spent on the hiring and procuring of services from Indigenous businesses, a statement added.Construction is scheduled to begin in July, with a targeted in-service date in late 2028."Leading up to and throughout construction, Enbridge will continue to work with Indigenous groups, local communities, contractors and other stakeholders. As part of our commitment to supporting local businesses, Enbridge is procuring pipe for the Sunrise Expansion Program from InterPro Pipe + Steel, a Canadian steel mill and pipe provider, who will use Canadian workers and expertise to produce the pipe." said Matthew Akman, Enbridge's executive vice president and president, gas transmission.Enbridge shares were last seen up US$0.09, to US$52.60, in New York trading.

$ENB.TO

Equities60d ago

GUIDANCE: (AMR) Alpha Metallurgical Resources Expects Q1 Net Loss $0.86 a Share

$AMR

Equities60d ago

Market Chatter: Spanish Fuel Wholesaler Hatta Energy Alleges Market Abuse by Repsol, BP, Moeve

Spanish refined fuels wholesaler Hatta Energy reportedly accused Repsol (REP.MC), BP (BP.L) and Moeve of engaging in "coordinated corporate behaviors" that hamper competition in Spain's hydrocarbon wholesale distribution market.In its complaint filed with the European Commission's competition watchdog, as reported by Bloomberg News on Friday, Hatta alleged that the companies, with government support, are setting up a "de facto cartel" through regulatory and logistical barriers and refusal to supply the wholesaler with fuel.The complaint, which also named national fuel logistics infrastructure operator Exolum and the Spanish state, claimed that Hatta has not received the "reliable operator" classification that exempts it from a special tax payment.BP, Repsol and Moeve did not immediately respond to requests 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.)

$BP.L$REP.MC

Equities60d ago

Brent Crude Now Down 1.5% at Near US$103.50 and NY Crude Down Near 2.2% at Near US$93.80 As Pakistan Officials Say Second Round of U.S. and Iran Talks Expected

$CLM6$LCOM6$USO

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Equities60d ago

S&P 500 Posts Fourth Consecutive Weekly Gain, Hits New Highs

Dow JonesNasdaq CompositeS&P 500$BKR$HCA$INTC$TMO