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JPMorgan Adjusts Price Target on EQT to $68 From $65, Keeps Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $67.81, according to analysts polled by FactSet.

Shell Begins Production at Grease Manufacturing Plant in Indonesia

Shell (SHEL) has started production at its new grease manufacturing plant in Indonesia with a capacity of up to 12 kilotonnes per year, the company said Tuesday.The plant is located within Shell's existing Marunda Lubricants Oil Blending Plant complex in Bekasi and will manufacture Shell Gadus grease products.The facility can produce grease in drums, pails and fluid bags for customers across manufacturing, mining, transportation, power generation and other industrial sectors, Shell said.

$SHEL

Equities6d ago

Shell Begins Production at Grease Manufacturing Facility in Indonesia

British oil and gas giant Shell (SHEL.L, SHELL.AS) said Tuesday that Shell Indonesia started production at a grease manufacturing plant in Bekasi, Indonesia.The new facility, located within the company's Marunda Lubricants Oil Blending Plant complex, manufactures grease products used in applications such as bearings and gears. The plant has a production capacity of up to 12 kilotonnes per year.

$SHEL.L$SHELL.AS

Equities6d ago

Update: Market Chatter: South Korean Prosecutors Accuse Eight Petrochemical Executives of Price Fixing

(Updates with LG Chem's response in the fourth paragraph.)The South Korean prosecutors have accused eight current and former executives of domestic petrochemical companies and have sought their arrest for suspected participation in a price-fixing scandal involving several trillion won, Yonhap News reported Monday.Among the accused executives are OCI Chief Executive Kim Yoo-shin and former PKC CEO Jang Young-soo, and the Seoul Central District Prosecutors suspect seven companies, including LG Chem, Hanwha Solutions, Aekyung Chemical, OCI, Lotte Fine Chemical, PKC, and Unid, were together involved for several years in fixing higher prices for eight petrochemical products.Prosecutors claimed the companies allegedly made illicit profits totaling several trillion won due to the Middle East conflict disrupting naphtha supply, and authorities raided and questioned Kim and Jang as part of the investigation on Aug. 5.LG Chem toldon Tuesday that the matter is subject to an ongoing prosecution investigation and that it is unable to comment on or confirm details related to the case. The company referred further inquiries to the relevant prosecution authorities.Hanwha Solutions, Aekyung Chemical, OCI, Lotte Fine Chemical, PKC and Unid did not immediately respond to requests for comment fromon Monday.(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.)

^KOSDAQKOSPI

Equities6d ago

PBF Energy Prices $500 Million Exchangeable Notes Offering

PBF Energy (PBF) and its PBF Finance subsidiary priced $500 million worth of 0% exchangeable notes due 2032 in a private offering, the company said late Monday.The deal is expected to close on Sept. 17.PBF also granted the initial purchasers a 13-day option to buy up to an additional $50 million of notes, it said.The initial exchange rate is $96.80 per share, according to the company.Net proceeds, estimated at $485 million to $533.6 million, will be used to cover the cost of certain associated derivative transactions, repay other debt, and for general corporate purposes, PBF said.

$PBF

Equities6d ago

TotalEnergies, Mistral Agree to Develop AI Models for Oil, Gas Reservoir Development

TotalEnergies (TTE) and Mistral have agreed to launch a three-year program to develop artificial intelligence models for oil and gas reservoir development with an investment of more than 100 million euros ($115.4 million), the companies said Tuesday.Under the agreement, the companies will establish a joint scientific laboratory that combines TotalEnergies' geoscience and reservoir engineering expertise with Mistral's AI capabilities, they said.The companies said the program will use nearly 10 petaflops of data and TotalEnergies' accumulated geoscience knowledge to develop models that can analyze large data sets and generate scenarios for the development of exploration opportunities.TotalEnergies said the models will also be used to optimize and extend the life of existing projects.

$TTE

Equities6d ago

Kistos Closes Acquisition of Oman Exploration Blocks From Mitsui

Kistos (KIST.L) said Tuesday it completed the acquisition of Blocks 3 and 4 in Oman from Mitsui E&P Middle East.The transaction follows the formal transfer of legal ownership under a Royal Decree from the Sultanate of Oman. The terms remain unchanged from the deal announced in December 2025.The London-listed energy company is separately progressing its acquisition of Block 9, which is expected to close in the second half.

$KIST.L

Equities6d ago

Geo Exploration Raises GBP1.2 Million via Share Placing, Retail Offer

Geo Exploration (GEO.L) said Tuesday it raised a total of 1.2 million pounds sterling through a share placing and retail offer priced 0.0006 pound per share.The mineral and hydrocarbon exploration company issued 204.7 million new shares under the retail offer, while the placing comprised 1.73 billion new shares. The new shares are expected to be admitted to AIM on Sept. 21.Meanwhile, the company said the trading of existing shares resumed on Tuesday after the close of the Capital Access Window.

$GEO.L

Equities6d ago

Borr Drilling Divests Mexican Oil Drilling Joint Ventures

Borr Drilling (BORR) agreed to divest its 51% interest in two oil-drilling Mexican joint ventures to its partner in Mexico, it said Tuesday.No financial terms were disclosed.Under terms of the transaction, Borr Drilling will transfer to its local partner responsibility for management of three of the company's jack-up rigs, which are operating in collaboration with state-oil company PEMEX.Borr Drilling will retain ownership of the three rigs, and continue participating in the underlying contracts through bareboat charter agreements, it said.Borr Drilling said the new arrangement creates a more-efficient platform for expansion in Mexico, as demand for shallow-water oil drilling grows.

$BORR

Equities6d ago

BP, United Steelworkers Agree to Continue Labor Discussions

BP (BP) said Monday its Whiting refinery team held talks with the United Steelworkers Local 7-1 committee.The company said discussions were generally constructive and that it remains committed to bargaining in good faith.BP is proposing a six-year agreement with modernized job structures, training and upskilling, base wage increases and a $2,500 lump sum signing bonus.The company said employees would receive an aggregate 13% increase in base wage rates over the first four years, followed by increases in the final two years, with additional payments of $5,000 to $7,500 in certain roles.Both parties have agreed to meet again later this week, with refinery operation continuing to operate normally, BP said.

$BP

Equities6d ago

TotalEnergies Partners with Mistral on AI Program for Oil and Gas Exploration

French energy company TotalEnergies (TTE.PA, TTE.L) said Tuesday it teamed up with artificial intelligence company Mistral for a three-year joint program to develop frontier AI models for the exploration and development of oil and gas reservoirs.The partnership, which involves an investment of more than 100 million euros, aims to use agentic AI to help TotalEnergies' geosciences experts analyze large volumes of data and generate multiple scenarios for developing exploration opportunities, including extending and optimizing the lifespan of existing projects.

$TTE.L$TTE.PA

Equities6d ago

Ades Holding Unit Finalizes $285 Million Purchase of Saudi Arabian Saipem

Ades Holding's (SASE:2382) Ades Saudi Ltd. unit concluded the acquisition of Saudi Arabian Saipem after satisfying all the requirements of the transaction.The Saudi-listed drilling services said Tuesday that its subsidiary acquired the company for $285 million from Saipem International under a sale and purchase agreement, which was disclosed in June.Saipem International is a subsidiary of Italian engineering and construction group Saipem (SPM.MI).

SASE:2382$SPM.MI

Equities6d ago

Borr Drilling to Exit JVs in Mexico

Borr Drilling (BORR.OL) said Tuesday that it agreed to let go of the Mexico-based joint ventures Perforaciones Estratégicas e Integrales Mexicana and Perforaciones Estratégicas e Integrales Mexicana II.The drilling contractor is selling its majority 51% stake in both ventures to its partner, streamlining its corporate and operating structure in Mexico.With the deal, Borr Drilling is letting go of management of its Galar, Gersemi and Njord jack-up rigs that are operating with the joint ventures. Ownership of the rigs will remain with the company.

$BORR.OL

Equities6d ago

Panoro Energy Closes 9% Stake Purchase in Côte d'Ivoire Gas Project from DNO

Panoro Energy (PEN.OL) said Monday it completed the $64.4 million acquisition from Norwegian oil and gas operator DNO (DNO.OL) of a 9.09% indirect interest in a gas-producing block in Côte d'Ivoire.The transaction involved the transfer to the London-based independent exploration and production company of DNO's subsidiary DNO CI, which holds the indirect interest. It settled the purchase using $43 million in cash and $21.4 million in new shares.DNO CI holds its indirect stake in Block CI-27 through a 33.33% shareholding in Foxtrot International, which operates the project with a 27.27% stake.

$DNO.OL$PEN.OL

Equities6d ago

Market Chatter: Orlen Reportedly Issues Series of Tenders to Buy Crude After Saudi Pipeline Shutdown

Orlen (PKN.WA) issued at least five tenders to purchase crude in the past two days, Bloomberg News reported Monday, citing documents it saw.The move could signal that the Polish energy company is looking to secure oil supply after the shutdown of the crucial East-West pipeline in Saudi Arabia, according to the report.Citing regional officials, the Associated Press said in a same-day report that the pipeline could remain offline for several weeks. Saudi Arabia shut the East-West pipeline, seen as an alternative to the Strait of Hormuz with the capacity to ship about 7 million barrels a day, as a precautionary measure following "multiple attacks" on Sept. 10.Orlen 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.)

$PKN.WA

Equities6d ago

Oaktree Capital Funds to Sell Torm Shares

Torm's (TRMD-A.CO) shareholder OCM Njord Holdings launched an offering of 9 million class A shares in the later, according to a Monday release.OCM, a company owned by Oaktree Capital Management-advised funds and affiliates, held a 20% stake in the refined oil product carrier before the offering. It launched the sale with a 30-day option for the sale of up to an additional 1,350,000 shares in Torm, which will not receive any proceeds from the transaction.

$TRMD-A.CO

Equities6d ago

BP Notes 'Generally Constructive' Talks with Representatives of Workers in US Refinery

BP (BP.L) said Monday that it had "generally constructive" discussions with the United Steelworkers union representing workers at its Whiting refinery in the US.Negotiations between the parties on a new pay package resumed on Monday, with a commitment to meet again later in the week.The oil and gas company affirmed its commitment to bargaining in good faith with the workers and assured that the refinery is operating continuously amid the ongoing labor dispute.

$BP.L

Equities7d ago

Trump Energy Chief Says Fuel Export Ban Wouldn't Lower Prices

Interior Secretary Doug Burgum said Monday that a US ban on fuel or crude exports would not lower domestic pump prices, Bloomberg reported.Burgum said the administration would consider an export ban only if there were a direct correlation between stopping exports and lowering prices at home, the report said.The comments came as retail diesel prices topped $6 a gallon and gasoline prices exceeded $4, with speculation that the administration could impose export restrictions ahead of the midterm elections, Bloomberg said.

Equities7d ago

Calumet Increases Senior Secured Revolving Credit Facility to $600 Million

Calumet (CLMT) said late Tuesday it has amended its existing asset-based loan facility to raise its total commitments to $600 million, an increase of $100 million, subject to borrowing base limitations.The ABL maturity date remains January 2031 and is led by Bank of America (BAC) as the agent for a group of lenders, the company said.Moreover, Montana Renewables, an unrestricted subsidiary of Calumet, said it received its final draw of $34 million under its recently amended loan guarantee agreement with the US Department of Energy, the company added.

$BAC$CLMT

Equities7d ago

California Resources Investors Focused on Timeline of Elk Hills Power Plant Power Purchase Agreement, RBC Says

California Resources (CRC) investors are focused on the process and timeline for the company to announce a power purchase agreement associated with the available 275 megawatt of capacity at its natural gas-fired Elk Hills Power Plant, RBC Capital Markets said in a note emailed Monday.The company and its partners will be in a position to announce a potential power purchase agreement during H2 of 2027, RBC said, adding that the partners are in multiple discussions with customers that include a path for carbon storage.Building on this, RBC expects that the groundbreaking for the proposed data center project within CRC's Elk Hills oil field will then track towards late 2027, according to the note.RBC said it sees a reasonable expectation for the potential data center startup to occur by early 2029.RBC maintained its outperform rating with a price target of $77.

$CRC

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