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Norway Offshore Energy Strike Ends, Dispute Referred for Voluntary Arbitration, Trade Union Confirms

The industrial dispute between the energy companies operating on the Norwegian continental shelf and workers covered by the well service agreement and represented by trade union Safe has been referred for voluntary arbitration, Safe has confirmed.In an emailed statement shared with, the trade union said the two parties have agreed to voluntary arbitration following a request by national mediator Mats Ruland."This means that the strike and lockout have now ended, and all employees must return to work as soon as reasonably practicable," the statement said.Voluntary arbitration is a process where the parties involved in an industrial dispute agree to refer their unresolved wage or collective bargaining dispute to a neutral third party for a final, binding decision.A date for the voluntary arbitration proceedings has not been finalized yet due to the ongoing summer holidays, the statement said.Earlier this month, industry group Offshore Norway said the dispute between workers and the energy companies operating on the Norwegian continental shelf had caused a combined historical and future production loss for operators of 2.4 million barrels of oil equivalent in 2026, or about 1.6 billion Norwegian krone ($164 million).Offshore Norway represents energy exploration, production and supply companies working on the Norwegian continental shelf.While the industry has been successful in reaching agreements with other trade unions representing about 75% to 80% of the employees covered by the well service agreement, negotiations are at a stalemate with trade union Safe, Stian Danielsen, communication manager for employer policy at Offshore Norway, said in an interview withearly July.About 400 workers have been furloughed by offshore service providers on the Norwegian continental shelf following the dispute with dispute with employees covered under the well service agreement and represented by Safe, Danielsen said then.In a statement issued July 14, Offshore Norway said the two parties "have agreed to refer the labour dispute, which has lasted for one month, to a voluntary wage board. As a result, both the strike and the lockout have ended."

International8d ago

Asia Week Ahead: U.S. Interest Rate Decision, Japan's Data Deluge, Industrial Output

Several key data releases are scheduled this week, with a decision by the U.S. Federal Reserve on Wednesday regarding interest rates taking center stage.The economic release calendar will gain momentum as the week progresses.Following business and consumer confidence survey reports, industrial and production data, and import and export prices, the bulk of economic disclosures will be released Friday.Japan is set to announce an interest rate decision at the end of the week. The week ahead also features the usual end-of-month data deluge from Japan that could provide insights into its economic health and potential monetary policy direction.MONDAY, July 27The Monetary Authority of Singapore (MAS) tightened monetary policy for a second straight review, slightly raising the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band.Meanwhile, the city-state's manufacturing output rose 7.2% year over year in June, slowing from a revised 17.8% increase in May and missing the 9% forecast of Trading Economics.Elsewhere, profits of China's major industrial firms grew 15.1% year over year in June, softer than the 21.1% gain in May.TUESDAY, July 28India is expected to see a year-over-year rise of 5.3% in industrial production in June, according to economists at ING. Manufacturing production is projected to increase 5%, based on a Trading Economics forecast.South Korea will release consumer confidence data.WEDNESDAY, JULY 29Markets will be on the lookout for the U.S. Fed's interest rate decision, with Investing.com and Westpac expecting the regulator to keep the policy unchanged for the fifth straight meeting.Elsewhere, Singapore is set to release domestic supply and manufactured products price index data, as well as export and import price figures.THURSDAY, July 30South Korea will release its business confidence report, while Japan publishes its consumer confidence data.Singapore will report its unemployment statistics for June, with Investing.com projecting a 2.1% rise.FRIDAY, JULY 31Japan is expected to keep its interest rate steady at 1%, according to predictions by ING and Investing.com.Japan's Usual End-of-Month Data DelugeInflation: Tokyo inflation figures will give further insights into Japan's inflation outlook. Tokyo's annual inflation rate is estimated to rise slightly to 1.8% in July, according to market consensus forecast data quoted by ING and Westpac Economics.Retail Performance: June retail sales are expected to increase 2.8% year over year, according to a Trading economics consensus.Activity: Industrial production is estimated to increase 1.8% compared with a 2.1% decline a year prior.Unemployment: Japan's unemployment rate will likely remain unchanged in the month at 2.5%, according to a Trading Economics consensus.Elsewhere, experts at ING forecast a slowdown of China's manufacturing PMI to 50.1 in July from 50.3 the previous month. Non-manufacturing PMI is expected to decelerate to 50 from 50.2 in the previous month.ANZ Research, however, projects manufacturing PMI to fall to 49.9 amid a correction in commodity prices, which dampened business sentiment and corporate profit outlook, the Wall Street Journal reported citing Senior Rates Strategist Jennifer Kusuma.Westpac Economics sees manufacturing activity as broadly stable, alongside a focus on domestic demand for services.Other key indicators due Friday are South Korea's industrial output and retail sales data for June, as well as Singapore's business confidence report for the second quarter.

Hang SengHKG:2589HKG:9961

Hong Kong Stocks Rise on Monday as Crude Pullback Calms Rate Fears; Auntea Jenny Surges on Profit Alert

Hong Kong stocks closed higher on Monday as falling oil prices eased inflation concerns after the U.S. and Iran refrained from further military action.The Hang Seng Index gained 243.95 points, or about 1%, to close at 25,207.18, while the Hang Seng China Enterprises Index rose 94.32 points, or 1.1%, to 8,365.38.Oil prices fell more than $5 easing inflation concerns and mitigating expectations of a U.S. Federal Reserve rate hike ahead of Wednesday's policy decision. Investors also awaited earnings from major technology companies following recent scrutiny of AI-related spending.Among individual stocks, Auntea Jenny (HKG:2589) climbed more than 4% after forecasting up to a 60% increase in first-half profit.Trip.com (HKG:9961) gained over 3% after disclosing that it would comply with Chinese regulators' decision following a penalty for abusing its dominant position in the country's online hotel booking market.

Oil & Energy8d ago

EMEA Natural Gas Update: Futures Drop Sharply as US-Iran Pause Hostilities After Two Weeks

European natural gas futures retreated sharply on Monday, pulling back from a four-month high as the US and Iran paused military strikes after nearly two weeks of escalating hostilities in the region.The front-month Dutch TTF contract was down 6.37% at 59.525 euros ($67.89) per megawatt-hour, while the front-month UK NBP contract rose 6.86% to 143.540 British pence ($1.91) per therm.US forces refrained from launching fresh strikes against Iran over the weekend, with Tehran likewise suspending retaliatory attacks on US bases across the region after nearly two weeks of steady escalation in the conflict, according to a report by Al Jazeera.Tehran and Washington were also reportedly exchanging messages via intermediaries, restoring hopes for a potential diplomatic resolution to the hostilities.Meanwhile, traffic along the strategically crucial Strait of Hormuz, which accounted for one-fifth of global LNG flows, dipped to just 9 transits on Sunday, according to data from ShipFinder.However, Daniel Hynes, a senior commodity strategist at ANZ, noted that Europe still has to "compete hard for available cargoes," due to the ongoing restrictions on LNG flows from Qatar. He also said that the situation was made worse by strong demand in Asia, amid the higher-than-average temperatures in the region.European gas inventories were below historic averages, at 55.35%, compared to 66.47% during the corresponding period a year ago, according to Gas Infrastructure Europe.Inventories were also significantly below the five-year average for this period, at 71.2%, according to the Swiss Federal Office of Energy.

Galp Hydrocarbon Output Climbs in Q2; Renewable Installations Rise

Integrated energy company Galp Monday reported a 12% year-over-year increase in Q2 hydrocarbon production to 127,000 barrels of oil equivalent per day, driven by the ramp-up of the Bacalhau floating, production, storage, and offloading unit, and strong production levels in Brazil.Of the total output, oil accounted for 112,000 barrels per day, which represents a 14% rise from a year earlier. Gas production totaled 15,000 boe/d, declining 4% from the year-ago period, data showed.In the industrial and midstream segment, Galp noted a 7% year-over-year rise in raw materials processed to 22.6 million barrels of oil equivalent. "Strong availability" of the Sines refining system contributed to higher processing, according to the company.Total oil products supplied were down 5% to 3.9 million tons, "primarily reflecting lower exports amid heightened volatility in international markets following the Middle East conflict," the company said.Supply and trading volumes of natural gas and liquefied natural gas totaled 19.7 terawatt-hours, up 6% from a year earlier, driven by higher volumes from African supply contracts.Galp's commercial segment sold 1.8 million tons of oil products in Q2, a 5% drop from the same quarter of 2025, according to the report. The decline was attributed to weaker sales in Portugal and Africa.Natural gas sales, on the other hand, climbed 11% year over year to 4.3 TWh, and electricity sales jumped 21% to 2.4 TWh, results showed.The company's installed renewable capacity grew 39% year-over-year to 2.3 gigawatts in Q2, according to the report. Wind installations accounted for 16% of the total capacity.Galp said it had acquired wind assets, brought 238 megawatts of solar capacity into operation in June, and added 55 MW of battery capacity during the period.Higher installed capacity resulted in a 13% increase in renewable energy sold, which totaled 890 gigawatt-hours in Q2, the company said.

Treasury8d ago

Aston Martin Says GBP550 Million Financing Pledge Secures Against Assets in New Unit

Aston Martin Lagonda Global Holdings (AML.L) used certain assets parked in a newly incorporated subsidiary along with certain other assets, as a pledge for its newly secured 550 million-pound-sterling debt financing.The London-listed luxury car group was responding to investors' concerns regarding the debt financing, according to a July 24 release.The senior secured notes due 2029 continue to be secured by a pledge over the shares in Aston Martin Lagonda Ltd., which is an indirect parent entity of the new subsidiary, the company noted.

$AML.L

KPC Pharmaceuticals to Divest Stake in Nanjing Leads Biolabs

KPC Pharmaceuticals (SHA:600422) will sell 2.4 million shares it holds in Nanjing Leads Biolabs (HKG:9887) for a total of 132.2 million yuan, according to a Saturday disclosure to the Shanghai bourse.The divestment of the 1.2283% stake will help KPC focus on its core business and optimize its asset structure.The selling price will be determined according to the secondary market price of the time.

HKG:9887SHA:600422

KGI Securities Downgrades WHA Corporation to Neutral from Outperform; Price Target is THB5.40

WHA Corporation (BKK:WHA) has an average rating of overweight and mean price target of 5.30 baht, 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://finwires.com/en/contact)

BKK:WHA

KGI Securities Upgrades Ichitan Group to Outperform from Neutral; Price Target is THB16.50

Ichitan Group (BKK:ICHI) has an average rating of buy and mean price target of 15.14 baht, 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://finwires.com/en/contact)

BKK:ICHI

Treasury8d ago

Haffner Energy Signs EUR10 Million Funding Deal to Support Canada Expansion

Haffner Energy (ALHAF.PA) said Monday it agreed to an equity investment facility of up to 10 million euros from Mundi Énergies to support the development of multi-energy hubs in Canada.Under the first drawdown, the French clean energy technology company issued 4,308,928 new shares at 0.1509 euros each to Mundi, raising 650,217 euros. The facility is capped at 23.07% of Haffner's share capital, including warrants.The agreement also gives Haffner access to a 20% stake in the project companies developing the energy infrastructure. The company already owns 20% of INCAD, the first project company, which aims to launch its first hub in Quebec in the second quarter of 2028.

$ALHAF.PA

$AEE$AEP$AQN$EIX$ETR$EVRG$EXC$IDA$LNT$PCG$PNW$PPL$SO$SRE$XEL

NWS Warns of Hot Weather in Desert Southwest, Plains, Mississippi Valley, Midwest

The US National Weather Service early Monday said hot temperatures are expected to spread across the Desert Southwest, Plains, Mississippi Valley and Midwest into Monday, while portions of the Intermountain West face concerns related to fire weather.Thunderstorms and potential flash floods were possible over the Southwest due to active monsoonal moisture.Meanwhile, Pacific Ocean's Tropical cyclone Fausto is expected to weaken as it moves towards Hawaii but is likely to cause dangerous surf, swells and rip currents, the agency said.The NWS early Monday issued an extreme heat warning for the entirety of Missouri, where Evergy (EVRG), Ameren's (AEE) Missouri unit, and Algonquin Power & Utilities (AQN) subsidiary Liberty are the major service providers.The NWS issued similar warnings for a majority of Kansas, except for Ulysses, Garden City, Tribune, Scott City, Oakley, Hill City, Colby, Goodland, Oberlin, St Francis. Evergy is among the major providers in Kansas.Affected areas in Nebraska included Omaha, Nebraska City, Falls City, Burwell, Tekamah, Norfolk, Beatrice, Columbus, Lincoln, Hastings, Kearney, Grand Island, O'Neill, Butte, Spring View, Valentine, Brewster, Ainsworth, Stapleton, Thedford, North Platte, Broken Bow, and Stockville. A major part of the state is covered under the service area of regional transmission organization Southwest Power Pool, with Midcontinent ISO also serving some areas.Almost all of Iowa, except for Denison, Sioux City, Storm Lake, Mason City, Estherville, was also placed under the extreme heat warning watch. The state is primarily served by Berkshire Hathaway Energy unit MidAmerican Energy and Alliant Energy (LNT).In Illinois, an extreme heat warning was issued for Carbondale, Mount Vernon, Vandalia, Carlinville, Springfield, Kewanee, Peru, Quincy, Galesburg, Peoria, MaComb, Canton, Pekin, Bloomington, Havana, Champaign, Decatur, Jacksonville, Taylorville, Charleston, Effingham, Vandalia, Salem, Olney, and parts of Carmi. Warnings for a severe thunderstorm and flash flood were also issued for areas near Carmi, while Effingham was also covered under a flash flood warning watch. Ameren's Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois.Kentucky's Paducah, Mayfield, Hopkinsville, Madisonville, and Owensboro were also covered by the extreme heat warning watch, with flash flood and severe thunderstorm warnings were raised for areas near Madisonville, and Owensboro. Kentucky is primarily served by PPL (PPL) subsidiary Louisville Gas and Electric & Kentucky Utilities, American Electric Power (AEP) unit Kentucky Power, and Duke Energy (DUK) among others.Also placed under a similar warning were Dyersburg, Memphis, Jacksonville, Clarksville, and Centerville in Tennessee, which is primarily served by Tennessee Valley Authority.The NWS also issued an extreme heat warning for Mississippi's Cleveland, Greenville, Clarksdale, Oxford, Tupelo, Cleveland, Grenada, Greenwood, Vicksburg, Jackson, and Brookhaven; and Fort Smith, Russellville, Batesville, Jonesboro, Searcy, Conway, Little Rock, Brinkley, Pine Bluff, and Monticello in Arkansas.Southern Co (SO) unit Mississippi Power and Entergy's (ETR) Mississippi subsidiary are among the major power suppliers in Mississippi, while AEP subsidiary Southwestern Electric Power and Entergy's Arkansas unit are the major service providers in Arkansas.The NWS also issued an extreme heat warning for Dumas, Borger, Perryton, served by Xcel Energy (XEL), in Texas; and Oklahoma's Guymon, Beaver, Enid, Ponca City, Tulsa, Muskogee, Oklahoma City, Bartlesville, Gage, Woodward, Alva, Stillwater, Chandler, and Grove. Oklahoma Gas & Electric and American Electric Power subsidiary Public Service Co. of Oklahoma are the major service providers in Oklahoma.A similar warning was raised for Arizona's Lake Havasu City, Kingman, Bullhead City, Parker, Ajo, Gila Bend, Phoenix, Wickenburg, Dateland, and Casa Grande. The state is primarily served by Pinnacle West Capital (PNW) unit Arizona Public Service Company, and UNS Energy subsidiaries Unisource and Tucson Electric Power.Nevada's Las Vegas and Beatty, primarily served by Berkshire Hathaway Energy unit NV Energy, were also placed under a similar warning.In California, an extreme heat warning was issued for Blythe, El Centro Imperial, Palm Springs, Twentynine Palms, Death Valley, Barstow, Edwards AFB, Ridgecrest, Mount Laguna, Julian, Borrego Springs, Victorville, Wrightwood, and Bishop. PG&E (PCG) subsidiary Pacific Gas and Electric, Edison International's (EIX) Southern California Edison, and Sempra Energy unit San Diego Gas & Electric are the major electricity service providers in these places.The NWS also issued an extreme heat warning for parts of Wisconsin, Utah, Montana and Indiana. A flashflood warning also issued for small pockets of Indiana.Meanwhile, a red flag warning was raised for Idaho's Shoup, Salmon, Challis, Stanley, Mackay, and Arco, primarily served by PacifiCorp's Rocky Mountain Power and Idacorp's (IDA) Idaho Power.The NWS issued a flood warning for small parts of Texas, while flash flood warnings were also raised for certain pockets of Virginia and Wisconsin.

Sectors8d ago

Zephyr Energy Enters Nonbinding Deal for $15 Million Funding

Zephyr Energy (ZPHR.L) signed a nonbinding letter of intent with fuel distribution and management services company Atlas Oil Co. for a prepaid commodity purchase agreement proposal that will provide the company with up to $15 million in funding.The oil and gas company said Monday that the nondilutive pre-production financing, which will be split into tranches, will be used for the infrastructure buildout, well workovers, and the potential expansion of gas facilities at its Paradox project in Utah, US.As part of the deal, Atlas Oil will have the exclusive right to sell, market, and buy hydrocarbons that are produced from the Paradox project. The agreement is still subject to a binding agreement and due diligence, which are expected to be finalized in the third or fourth quarter.

$ZPHR.L

Market Chatter: Colombian Schools, Businesses Asked to Go Remote Over Gas Supply Squeeze

The Colombian government has called on schools and businesses to operate remotely for part of this week with maintenance at the country's liquefied natural gas terminal to prompt rationing, Bloomberg reported on Friday.The SPEC terminal near the coastal city of Cartagena will be closed from July 30 to Aug. 3, or potentially Aug. 6, leading to a 4% shortfall in gas supplies versus typical national demand, the article said. Remote schooling and business operations would leave more gas supply for power generation, the article said.SPEC, majority owned by Promigas, supplies about 40% of Colombia's natural gas with imports growing over the last decade as domestic production slid. The country is using growing volumes of gas for power generation, all the more so amid dry conditions caused by an El Nino weather pattern that reduces the generation potential from hydroelectric dams.With fossil fuels now providing about 30% of the country's power, versus 15% in April, according XM, as cited in the article, there are concerns that this could force Colombia to ration electricity in the months ahead.(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.)

Wire8d ago

Baker Hughes Q2 Adjusted Earnings Rise, Revenue Falls; Shares Up Pre-Bell

Baker Hughes (BKR) reported Q2 adjusted earnings Sunday of $0.64 per diluted share, up from $0.63 a year earlier.Analysts polled by FactSet expected $0.49.Revenue for the quarter ended June 30 was $6.74 billion, down from $6.91 billion a year earlier.Analysts polled by FactSet expected $6.51 billion.Baker Hughes also maintained its quarterly dividend at $0.23 per share, payable on Aug. 17 to holders of record on Aug. 7.Shares of the company were up over 2% in Monday's premarket activity.Price: $58.54, Change: $+1.29, Percent Change: +2.25%

$BKR

Aneka Jaringan Closes 51% Stake Acquisition in P3 International

Aneka Jaringan (KLSE:ANEKA) completed its acquisition of a 51% stake in P3 International after paying the purchase consideration to the vendor, according to a Friday Malaysian bourse filing.According to an earlier filing, Aneka Jaringan signed a conditional share sale agreement to acquire the stake from Aneka Properties for 1 million ringgit.P3 International is principally engaged in building construction and mainly operates in Taiwan through its Taiwan branch.

KLSE:ANEKA

Zhejiang Chenfeng Technology to Invest 1.18 Billion Yuan in Two Wind Farms

Zhejiang Chenfeng Technology (SHA:603685) is investing 1.18 billion yuan to build two wind power projects in Inner Mongolia, China, according to a Monday filing with the Shanghai bourse.The Horqin wind farm, with a capacity of 100 megawatts, will cost 360.1 million yuan. The Kaiiu project, with a 200-megawatt capacity, will cost 819.9 million yuan.Both projects are expected to break ground on Aug. 15, with respective construction timelines of nine and 11 months.Shares of the lighting fixture product manufacturer closed 1% higher Monday.

SHA:603685

SK Hynix Upgrades Q4 Purchases with SK Inc to 704 Billion Won

SK Hynix (KRX:000660) said that it has upgraded its fourth-quarter purchases from affiliate SK Inc to 704.45 billion won, revising it upward from the earlier estimate by over 20%, according to a Monday filing with the Korea Exchange.The company said that the transaction includes 637.45 billion won for infrastructure and system improvement and development services and 67 billion won for infrastructure system operation and maintenance services.The transactions are scheduled between October 1 and December 31.

KRX:000660

Phillip Securities Downgrades Delta Electronics Thailand to Sell from Neutral; Price Target is THB273

Delta Electronics Thailand (BKK:DELTA) has an average rating of overweight and mean price target of 335.23 baht, 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://finwires.com/en/contact)

BKK:DELTA