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W.Africa Crude-Market quiet, Total bids for Forcados

West African crude oil markets were quiet, with TotalEnergies bidding for Forcados cargo at dated Brent plus $2.40. Falling distillate refining margins balanced steady freight rates. Chevron plans to participate in Nigeria's next oil licensing round and deploy a drilling rig in 2026, while TotalEnergies shows interest in joining an auction.

Reuters·
US
CVX
-0.56%
US
TTE
-2.11%
Reuters·
US
CVX
-0.56%
US
TTE
-2.11%

Chevron to join Nigeria oil licence auction, plans rig deployment in 2026

Chevron plans to join Nigeria's next oil licensing round and deploy a drilling rig in 2026 to expand its operations. The company aims to grow its footprint in Nigeria, citing improved regulatory clarity under the Petroleum Industry Act. Chevron recently acquired a 40% stake in two offshore exploration licenses from TotalEnergies and plans to drill near Agbami. The company has experienced improved security with no oil theft or sabotage in the past year.

Reuters·
US
CVX
-0.56%
Reuters·
US
CVX
-0.56%

Sector Update: Energy Stocks Edge Higher Premarket Friday

Energy stocks edged higher premarket Friday, with XLE slightly advancing. USO fell 0.3%, while UNG rose 4.3%. WTI crude oil and Brent crude oil both decreased by 0.1%, while natural gas futures increased by 3.8%. BP is in talks to sell its Castrol business, with its stock down over 2%. NFE shares rose over 6% after approval of a Gas Supply Agreement. Chevron and partners made a final investment decision on the Gorgon Stage 3 development. Shell shares fell over 1% premarket.

fidelity·
US
CVX
-0.56%
fidelity·
US
CVX
-0.56%

How Is Diamondback Energy's Stock Performance Compared to Other Energy Stocks?

How Is Diamondback Energy's Stock Performance Compared to Other Energy Stocks?

Barchart Option·
US
FANG
+1.20%
Barchart Option·
US
FANG
+1.20%

M&T Bank Corp Decreases Holdings in Kinder Morgan, Inc. $KMI

M&T Bank Corp reduced its holdings in Kinder Morgan by 28.8% in Q2, owning 123,939 shares worth $3.64M. Insider transactions include VP Schlosser selling shares and Chairman Kinder buying 1M shares. Analysts set new price targets, with a consensus rating of "Moderate Buy" and an average target of $31.33. KMI stock opened at $27.84, with a market cap of $61.94B.

Market Beat·
US
KMI
-0.18%
Market Beat·
US
KMI
-0.18%
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