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Market Chatter: BP, Repsol Face EU Competition Complaint From Spanish Fuel Wholesaler

BP (BP) and Repsol have been accused of anti-competitive practices in a complaint filed with the European Commission by Spanish fuel wholesaler Hatta Energy, Bloomberg reported Friday.The complaint alleges "coordinated corporate behaviors" among major oil firms and state-backed actions that restrict competition in Spain's fuel distribution market, according to the report.The complaint also names Moeve and infrastructure operator Exolum, alongside the Spanish state, the report said.Hatta Energy also said it faces issues due to tax classification rules that require upfront payments on fuel withdrawals from storage, which some competitors are exempt from, Bloomberg reported.BP, Repsol and Moeve 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.)

$BP

Equities60d ago

Morgan Stanley Raises Price Target on PBF Energy to $34 From $27, Keeps Underweight Rating

PBF Energy (PBF) has an average rating of hold and mean price target of $42.92, 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)

$PBF

Equities60d ago

Morgan Stanley Raises Price Target on HF Sinclair to $66 From $57, Keeps Outperform Rating

HF Sinclair (DINO) has an average rating of overweight and mean price target of $66.31, 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)

$DINO

Equities60d ago

Morgan Stanley Raises Price Target on Delek US Holdings to $40 From $38, Keeps Equalweight Rating

Delek US Holdings (DK) has an average rating of overweight and mean price target of $49.38, 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)

$DK

Equities60d ago

Social Buzz: Wallstreetbets Stocks Mostly Higher Premarket Friday; Intel, Advanced Micro Devices to Advance

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly higher hours before Friday's opening bell.Intel (INTC) rose by almost 28% pre-bell, after a 2.3% increase at Thursday's close. The chipmaker reported Q1 results above Wall Street's estimates and issued an upbeat Q2 outlook.Advanced Micro Devices (AMD) advanced by nearly 11% in premarket activity, following a 0.6% increase from Thursday's session.ServiceNow (NOW) was 1.3% higher in pre-bell hours, after closing Thursday with a 17.8% fall.Avis Budget Group (CAR) was up 3.1% hours before market open, swinging from a 48.4% fall from the previous session.Microsoft (MSFT) was 0.8% higher premarket, swinging from a decline of nearly 4% at Thursday's close.Tesla (TSLA) advanced by 0.8% pre-bell, after a 3.6% fall from the previous session.Nvidia (NVDA) was slightly higher premarket, following a 1.4% decline at Thursday's close.DTE Energy (DTE) was down 0.6% in premarket hours, swinging from a 2.7% increase from Thursday's session.

$AMD$CAR$DTE$INTC$MSFT$NOW$NVDA$TSLA

Equities60d ago

Morgan Stanley Raises Price Target on Valero Energy to $222 From $182, Keeps Equalweight Rating

Valero Energy (VLO) has an average rating of overweight and mean price target of $254.06, 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)

$VLO

Equities60d ago

Morgan Stanley Raises Price Target on Marathon Petroleum to $233 From $200, Keeps 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

Equities60d ago

Morgan Stanley Upgrades Phillips 66 to Overweight From Equalweight, Adjusts PT to $174 From $147

Phillips 66 (PSX) has an average rating of overweight and mean price target of $182.72, 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)

$PSX

Equities60d ago

Enoc, Emarat Partner for Aviation Fuel Business Continuity

Emirates National Oil Co. Group, or Enoc, and Emirates Petroleum Co, d/b/a Emarat, signed a memorandum of understanding to establish a business continuity plan for aviation fuel.The agreement aims to boost coordination and enhance the reliability of Jet A-1 fuel supplies, ensuring seamless operations in the United Arab Emirates' aviation sector, according to a Friday release.The plan will set procedures for the response, recovery, resumption and restoration of operations at both state-owned oil companies, as well as involve regular tests, exercises and staff training.

^DFMGI

Equities60d ago

Pulsar Helium Considers Legal Action Over Circulated Private Placement Claims

Pulsar Helium (PLSR.L) said Friday that communications falsely circulating terms of a private placement by a third-party broker have no basis.The primary helium company added it is exploring regulatory and legal options in response to the broker's actions.

$PLSR.L

Equities60d ago

Update: Eni Q1 Net Profit Decreases, Sales Increase

(Updates with additional details on outlook and share buyback in the fifth and sixth paragraphs.)Eni (E) reported Q1 net profit Friday of 0.34 euros ($0.40) per diluted share, down from 0.36 euros a year earlier.Analysts polled by FactSet expected 0.50 euros.Sales from operations for the quarter ended March 31 were 22.96 billion euros, up from 22.57 billion euros a year earlier.Analysts surveyed by FactSet expected 22.84 billion euros.The company expects 2026 underlying oil and gas production to grow 3% to 4%, while guiding GGP adjusted proforma earnings before income tax at around 1.3 billion euros, marking a roughly 30% increase from its initial outlook.Eni has raised its proposed share buyback by roughly 90% to 2.8 billion euros.

Equities60d ago

OGDCL Gets 10th Monthly Payment under Pakistan's Circular Debt Plan

Oil and Gas Development Co Ltd (OGDC.L), d/b/a OGDCL, received the 10th of 12 monthly interest payments of 7.73 billion Pakistani rupees from Power Holding (Private) Ltd under the Pakistan government's circular debt settlement plan.The state-owned power company will pay a total of 92 billion rupees in interest to the London-listed Pakistani oil and gas company, according to a Friday release.

$OGDC.L

Equities60d ago

Eni Q1 Net Profit Decreases, Sales Increase

Eni (E) reported Q1 net profit Friday of 0.34 euros ($0.40) per diluted share, down from 0.36 euros a year earlier.Analysts polled by FactSet expected 0.50 euros.Sales from operations for the quarter ended March 31 were 22.96 billion euros, up from 22.57 billion euros a year earlier.Analysts surveyed by FactSet expected 22.84 billion euros.

Equities60d ago

TotalEnergies Takes Final Investment Decision on $1.2 Billion Mirny Project in Kazakhstan

TotalEnergies (TTE.PA, TTE.L) said Friday it took a final investment decision and secured financing for its Mirny onshore wind and battery energy storage system project in Kazakhstan.The French energy group noted that the $1.2 billion project, to be financed 75% externally, will combine 1 gigawatt of wind capacity with a 600 megawatt-hour battery energy storage system.The project, expected to reach its full capacity by 2029, will sell electricity to the government of Kazakhstan under a 25-year power purchase agreement.

$TTE.L$TTE.PA

Equities60d ago

TotalEnergies Secures Financing for Onshore Wind, Battery Energy Storage System Project in Kazakhstan

TotalEnergies (TTE) has secured financing for its Mirny onshore wind and battery energy storage system project in southeast Kazakhstan, the company said Friday.The company signed a common terms agreement with an international lending consortium, securing a financing framework for the project, which consists of a 1 gigawatt onshore wind farm and a 600 megawatt-hour battery energy storage system.TotalEnergies owns 60% of the project, while its partners Samruk Energy and KazMunayGas hold 20% each.The project is expected to generate 100 terawatt-hour of renewable electricity over 25 years, to be sold to the Kazakhstan government under a 25-year power purchase agreement signed in 2023. The project is anticipated to reach full capacity in 2029.The investment in the project currently amounts to $1.2 billion, with about 75% externally financed, according to TotalEnergies.

$TTE

Equities60d ago

Serica Energy Plans Investor Meetings for Potential Bond Issue

Serica Energy (SQZ.L) plans to hold fixed-income investor meetings ahead of a potential issue of a five-year senior unsecured bond.The oil and gas company will use the potential net proceeds to fully repay drawn debt under its reserve-based lending facility, it said Friday.Serica is scheduled to hold a capital markets day on June 2 to outline its capital allocation framework and organic growth plans.

$SQZ.L

Equities61d ago

Constellation Oil Services Completes EUR1 Million Share Sale for Euronext Oslo Børs Listing

Constellation Oil Services (COSH.OL) said Friday it completed a 1 million-euro retail offering of Norwegian depositary receipts for its uplisting to Euronext Oslo Børs.The offshore oil and gas contract drilling services provider issued 81,501 depositary receipts at 133.9 million Norwegian kroner pursuant to the offering. Constellation Oil said the depositary receipts are expected to start trading on the bourse on April 30.Clarksons Securities and DNB Bank's DNB Carnegie managed the offering.

$COSH.OL

Equities61d ago

Questerre to Sell Kakwa Central Non-operated Minority Assets for $24 Million

Questerre Energy (QEC.OL) agreed to sell its non-operated minority working interest in its Kakwa Central assets for $23.5 million.The sale agreement is slated to close on May 1. The buyer has agreed to assume decommissioning liabilities for the assets and Questerre's commitments under its firm transportation and processing contracts.The oil and gas-focused energy technology and innovation company noted that the sale remains subject to requisite approvals and customary adjustments.

$QEC.OL

Equities61d ago

Eni Posts Lower Q1 Attributable Net Profit; Revenue Up

Eni (ENI.MI) said Friday its attributable net profit for the first quarter fell, while total revenue rose year over year.Net profit attributable to shareholders for the three months ended March 31 was 1.07 billion euros, compared with 1.17 billion euros earlier. EPS moved to 0.34 euro from 0.36 euro.The Italian oil and gas company's total revenue was 20.06 billion euros, compared with 19.19 billion euros a year ago.Eni confirmed its 2026 dividend target of 1.10 euros per share, up 5% from 2025.

$ENI.MI

Equities61d ago

ONEOK Keeps Quarterly Dividend at $1.07 a Share, Payable May 15 to Holders of Record May 4

$OKE

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