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US Bureau of Ocean Energy Management Adjusts Gulf of Mexico Oil and Gas Lease Auction High Bid

Hungary's MVM Signs Five-Year LNG Purchase Agreement with Chevron

Chevron Australia Awards Subsea7 the Gorgon Phase 3 Subsea Installation Contract

Nilsine Partners LLC Invests in Valero Energy Corp.

BMO Capital analyst reiterates buy rating onPhillips 66

Shorepoint Capital Partners LLC increased holdings in Kinder Morgan in Q3

Subsea 7 SA wins Chevron subsea installation contract

ExxonMobil Launches New Facility in Jurong Island, Singapore

Marathon Petroleum Reports Emissions and Valve Issues at Texas Refinery

ExxonMobil VP Sells Company Common Stock

Chevron cuts Venezuela oil prices after tanker seizure

US Treasury Rejects Xtellus Partners' Bid for Lukoil Assets Due to Sanctions

Praxis Investment Management Inc. Reduced Holdings in SLB Limited

Phillips 66 Announces $2.4 Billion Capital Budget for 2026

Jefferies Downgrade Chevron's Target Price to $174

Barclays analyst reiterates buy rating on ExxonMobil with a target price of $130

Syrian Energy Minister Announces Gas and Oil Production Targets

Taylor Stone Wealth Management Increases Stake in ExxonMobil

Thrivent Financial for Lutherans increases shares of ConocoPhillips

Hilton Capital Management Increases Holdings in Williams Companies

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The U.S. Bureau of Ocean Energy Management revised the total high bids for a Gulf of Mexico oil and gas lease auction to $300.4 million, up by $21 million from the initial report. The revision includes three previously omitted bids, with the highest bid of $18.6 million from Chevron for tracts in the Keithley Canyon area.

Reuters

Chevron

US revises up Gulf of Mexico oil and gas auction total 

Hungary's state-owned MVM group has signed a 5-year agreement with U.S. energy company Chevron to supply 2 billion cubic metres of LNG. This deal marks a significant step in American-Hungarian energy cooperation, despite Hungary's reliance on Russian energy. The EU plans to phase out Russian gas by 2027, a move Hungary opposes. Hungary has secured a temporary waiver from U.S. sanctions to use Russian energy, while also committing to U.S. LNG purchases worth $600 million.

Chevron to supply Hungary with 2 billion cubic metres of LNG, minister says

EQNR

Energy stocks are declining premarket Tuesday, with the State Street Energy Select Sector SPDR ETF down 0.7%, US Oil Fund down 1.9%, and US Natural Gas Fund down 3.6%. Crude oil and natural gas futures also fell. TotalEnergies and Equinor shares dropped over 1% due to company-specific news, while Chevron shares were 0.8% lower.

fidelity

Equinor Asa

Sector Update: Energy Stocks Decline Premarket Tuesday

Chevron Australia has awarded Subsea7 a contract for subsea installation work on the Gorgon Stage 3 project offshore Australia. The contract includes project management, engineering, procurement, fabrication, transportation, installation, and pre-commissioning of subsea equipment at water depths of about 1,350 meters. Project management and engineering work will start immediately from Perth, with support from Kuala Lumpur and Paris. Offshore operations are expected to begin in 2028.

Chevron Australia Awards Gorgon Stage 3 Subsea Installation Contract to Subsea7

Nilsine Partners LLC invested $2.44 million in Valero Energy Corporation, purchasing 14,330 shares. Valero's stock opened at $167.85, with a market cap of $51.20 billion. Analysts have raised price targets, with Raymond James Financial issuing a strong-buy rating at $195.00. Valero reported $3.66 EPS, beating estimates, and announced a quarterly dividend of $1.13 per share. CFO Jason Fraser sold shares worth $1.73 million. Institutional investors own 78.69% of Valero's stock.

Market Beat

Valero Energy Corp New

Nilsine Partners LLC Makes New $2.44 Million Investment in Valero Energy Corporation $VLO

BMO Capital analyst Phillip Jungwirth reaffirmed a Buy rating on Phillips 66 with a price target of $159.00. The company's shares closed at $141.51. Jungwirth, a 3-star analyst, has an average return of 3.7% and a 46.26% success rate. Phillips 66 also received a Buy rating from TR's Bram Crudeton, while Piper Sandler maintained a Hold rating.

Tip Ranks

Phillips 66

BMO Capital Reaffirms Their Buy Rating on Phillips 66 (PSX)

Shorepoint Capital Partners LLC acquired a new stake in Kinder Morgan, Inc. worth $5.83 million in the third quarter. The firm purchased 205,928 shares, making Kinder Morgan 1.2% of its holdings. Several other large investors also bought and sold shares of KMI. Insider activities included VP John W. Schlosser selling shares and Chairman Richard D. Kinder purchasing shares. Analysts have given Kinder Morgan a 'Moderate Buy' rating with a consensus price target of $31.33.

Kinder Morgan Holdco

Shorepoint Capital Partners LLC Makes New $5.83 Million Investment in Kinder Morgan, Inc. $KMI

Exxon Mobil's new oil and gas recovery facility in Jurong Island has opened, enhancing the competitiveness of its Singapore plant. Deputy Prime Minister Janil Puthucheary officiated the opening, calling it the result of a decades-long investment of SGD 30 billion. The petrochemical industry faces challenges such as global overcapacity, changing demand patterns, and net-zero emissions, requiring adaptation and innovation. The new facility was built during the pandemic, integrating the manufacturing base with 22 new reactors and 150 kilometers of pipelines

- ExxonMobil has inaugurated a new oil and gas recovery facility on Jurong Island, enhancing its competitiveness by converting waste oil into low-sulfur fuel and high-value lubricant base oils.  
- The facility, which began construction during the pandemic, integrates existing manufacturing bases and includes 22 new reactors and over 150 kilometers of new pipelines.  
- Following the expansion, the Jurong Island facility is set to become the world's largest base oil plant, increasing production capacity by 20,000 barrels per day, surpassing the second-largest facility in South Korea by 21%.

Zaobao

Exxon Mobil

Exxon Mobil's new facility opens, Yan Jinyong: The petrochemical industry's transformation requires adaptation and innovation | Lianhe Zaobao

ExxonMobil has launched a new facility on Jurong Island, Singapore, which converts heavy residues from crude-oil refining into lower-sulphur fuels and higher-value lubricant base stocks. Despite global challenges and planned workforce reductions, the facility signifies ongoing innovation and long-term value creation. Deputy Prime Minister Gan Kim Yong highlighted the importance of adapting to global overcapacity, shifting demand patterns, and the green transition. The facility aims to strengthen Singapore's energy and chemicals sector and support the shift to speciality and performance products.

- ExxonMobil launched its Singapore Resid Upgrade Facility on Jurong Island, aimed at converting heavy residues from crude oil refining into lower-sulphur fuels and higher-value lubricant base stocks.  
- Despite plans to lay off 10 to 15 percent of its workforce by 2027 and sell retail stations, the facility represents a commitment to innovation amid challenges in the global oil and gas sector.  
- Deputy Prime Minister Gan Kim Yong emphasized the importance of adapting to structural shifts in the energy sector and highlighted Singapore's collaboration with ExxonMobil to enhance capabilities in sustainable manufacturing.

Businesstimes

ExxonMobil’s latest Singapore facility signals that innovation can continue amid global challenges: DPM Gan

Chevron has reduced the price of Venezuelan crude for U.S. refiners following the seizure of an oil tanker by U.S. forces in the Caribbean. The incident has pressured prices in the Gulf Coast market. Despite tensions between the U.S. and Venezuela, Chevron continues to sell oil cargoes, with Venezuela's exports declining due to new U.S. sanctions.

Chevron cuts price for Venezuelan oil after last week's tanker seizure - Bloomberg

EOG Resources Inc.'s stock fell 1.93% to $105.93, outperforming competitors like Devon Energy, Occidental Petroleum, and Diamondback Energy, despite a dismal trading session. The stock is 23.34% below its 52-week high. Trading volume was higher than the 50-day average.

Dow Jones

EOG Resources

EOG Resources Inc. Stock Outperforms Competitors Despite Losses On The Day

SLB Ltd.'s stock fell 1.39% to $38.90 on Monday, underperforming compared to competitors like Baker Hughes Co., which rose 0.06%. The stock is 12.90% below its 52-week high of $44.66. Trading volume was 10.8 million, below the 50-day average of 16.2 million. The S&P 500 and Dow Jones also saw declines.

SLB Ltd. Stock Underperforms Monday When Compared To Competitors

ConocoPhillips shares fell 1.24% to $94.36 on Monday, underperforming compared to competitors like Exxon Mobil and Chevron. This marks the third consecutive day of losses for ConocoPhillips, with the stock closing 11.15% below its 52-week high. Trading volume was higher than the 50-day average. The overall market also saw declines, with the S&P 500 and Dow Jones Industrial Average both falling.

ConocoPhillips

ConocoPhillips Stock Underperforms Monday When Compared To Competitors

Energy stocks declined late Monday afternoon, with the NYSE Energy Sector Index down 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.9%. The Philadelphia Oil Service Sector Index fell 1.1%, while the Dow Jones US Utilities Index rose 0.8%. Crude oil and natural gas prices also dropped. In sector news, Kazakhstan anticipates a decision on the Karachaganak field case by year-end. Chevron cut Venezuelan crude prices, and Eni's Plenitude was cleared of unfair practices. Berry's merger with California Resources was approved.