Core Viewpoint - Saipem is preparing to resume operations in Venezuela following the easing of U.S. sanctions, anticipating demand from oil majors later in the year [1] Group 1: Saipem's Operations in Venezuela - Saipem's CEO, Alessandro Puliti, indicated that the company is ready to return to Venezuela as soon as there is client demand [1] - The easing of U.S. sanctions allows global energy companies to operate in Venezuela, with Saipem expecting contracts from both international and U.S. oil companies [1] - Currently, Saipem has not received any requests for tenders or engineering studies but expects these to materialize later in the year [1] Group 2: U.S. Sanctions and Market Context - The U.S. relaxed sanctions on Venezuela's energy sector earlier this month, issuing general licenses for companies like Chevron, BP, Eni, Shell, and Repsol to operate and negotiate contracts [1] - Venezuela possesses vast oil reserves, but the energy infrastructure is in a dilapidated state, posing challenges for major companies and contractors [1] Group 3: Other Projects and Financial Outlook - In Mozambique, Saipem is collaborating with TotalEnergies on a $20 billion liquefied natural gas project, reviewing orders after a long suspension [1] - Saipem expects its adjusted core earnings to rise to approximately €1.9 billion ($2.2 billion) in 2025, up from €1.7 billion [1]

We recently published an article titled 10 Best Cruise Stocks to Buy Right Now. On February 13, JPMorgan downgraded Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) to Neutral from Overweight and reduced its price target to $20 from $28 following the announcement that CEO Harry Sommer departed as part of a leadership transition. While the firm expressed confidence in incoming CEO John Chidsey’s ability to enhance execution, improve financial performance, and reduce leverage, it opted to adopt a more cautio ...

Spain's Repsol cuts renewable energy targets | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]Logo of the Spanish oil company Repsol at a gas station in Vecindario, on the island of Gran Canaria, Spain, January 9, 2026. REUTERS/Borja Suarez [Purchase Licensing Rights, opens new tab]- Companies[Repsol SA]FollowMADRID, Feb 20 (Reuters) - Spanish energy group Repsol [(REP.MC), opens new tab] has lowered its 2030 targets for renewable c ...

Spanish energy company Repsol plans to sharply expand its oil production in Venezuela after receiving authorization from the U.S. Treasury to operate in the country. Chief executive Josu Jon Imaz told investors that the company expects gross oil production in Venezuela to rise by more than 50% over the next 12 months, with ambitions to triple output within three years. Repsol produced 71,300 barrels of oil equivalent per day in Venezuela last year, up from 67,000 barrels the previous year. The permit f ...

Core Viewpoint - Maurel & Prom has been authorized by the U.S. to expand its operations in Venezuela, marking a significant step towards resuming oil exports after a halt due to previous sanctions [1]. Group 1: Company Operations - Maurel & Prom's teams in Venezuela are fully mobilized and prepared for the next phases of development following the U.S. authorization [1]. - The company had previously halted exports from Venezuela in the second quarter of last year due to the suspension of its license by the U.S. government [1]. - The CEO of Maurel & Prom stated that the clarity provided by the new general license will enable the company to operate with confidence in Venezuela [1]. Group 2: Regulatory Environment - The U.S. Treasury Department issued a new general license that includes Maurel & Prom among other companies authorized to operate in Venezuela [1]. - The updated regulatory framework is expected to stabilize Maurel & Prom's activities in the region [1]. Group 3: Market Response - Following the news of the U.S. authorization, shares of Maurel & Prom increased by 6% in early trading in Paris [1]. - The company has submitted a new license application to the U.S. Office of Foreign Assets Control (OFAC) to fully resume its operations in Venezuela [1]. Group 4: Resource Potential - Maurel & Prom reported a significant increase in identified reserves in Venezuela, with studies confirming the potential of previously unproven zones [1].

Core Viewpoint - Spanish energy company Repsol has continued its share buyback program and announced an increase in its dividend for 2026 [1] Group 1 - Repsol is maintaining the pace of its share buyback, indicating a strong commitment to returning value to shareholders [1] - The company has raised its dividend for 2026, reflecting confidence in its financial performance and future prospects [1]

Core Viewpoint - Repsol's fourth-quarter results introduced a new reporting model aimed at better representing the significance of minority shareholders and joint ventures [1] Group 1 - The new reporting model reflects the company's strategy to enhance transparency and align with the interests of minority shareholders [1] - This change is part of Repsol's broader efforts to adapt to evolving market conditions and stakeholder expectations [1]

Core Insights - The US has relaxed sanctions on Venezuela's energy sector, allowing global energy companies to resume operations and negotiate new contracts following the removal of President Nicolas Maduro [1] Group 1: Sanctions and Licenses - The US Treasury Department's OFAC issued general licenses to companies like Chevron, bp, Eni, Shell, and Repsol, enabling them to operate oil and gas projects in Venezuela [2] - A separate license allows international companies to engage with PDVSA for new investments, requiring additional permits from OFAC and excluding transactions with entities in Russia, Iran, or China [3] Group 2: Company Responses and Developments - Chevron stated that the new General Licenses and changes in Venezuela's Hydrocarbons Law are crucial for developing Venezuela's resources and enhancing regional energy security [4] - India's Reliance Industries has secured a general license from the US to purchase Venezuelan oil directly, facilitating a shift from Russian crude to discounted Venezuelan oil [5] Group 3: Economic Strategy and Future Prospects - The relaxation of sanctions is part of a broader strategy to support Venezuela's economic recovery and responsible investment, with a $100 billion reconstruction plan aimed at revitalizing the oil industry [6] - ExxonMobil and ConocoPhillips are evaluating potential re-entry into Venezuela after their assets were expropriated in 2007 [7]

JOUMANNA: GOOD MORNING. THIS IS "HORIZONS MIDDLE EAST & AFRICA. " ASIAN EQUITIES TRACK THE DROP ON WALL STREET AS THE AI SCARE TRADE RULES ON. THE SKY IS THE LIMIT.THE U.S. ENERGY SECRETARY SAYS HE SEES TREMENDOUS POTENTIAL FOR A U.S.-VENEZUELAN COOPERATION AS THE TRUMP ADMINISTRATION PUSHES FOR PRIVATE COMPANIES TO REBUILD THE NATION'S ENERGY SECTOR. PLUS WE SPEAK TO THE CEO OF TALABAT AS THE UAE DELIVERY GIANT POSTS A FULL-YEAR EARNINGS. IT'S JUST GONNA 9:00 A.M. ACROSS THE EMIRATES. QUITE THE RISK OFF SE ...

Core Insights - Venezuela's state-run oil company PDVSA has recently restricted oil sales to companies lacking individual U.S. licenses, which has limited exports and hindered the rapid depletion of its storage tanks [1] Group 1: U.S. Licensing and Trade - The U.S. government has issued a general license allowing oil exports and individual licenses to traders like Trafigura and Vitol for billions of dollars in oil exports [2] - The general licenses aim to exempt companies from U.S. sanctions on Venezuela's oil industry, which have been relaxed following the capture of President Nicolas Maduro [3] - Despite the issuance of general licenses, buyers report that the broad nature of these licenses has created ambiguity, making it difficult to understand what is permissible [4] Group 2: Banking and Financing Challenges - U.S. banks are hesitant to finance Venezuelan oil transactions due to the complexities surrounding the licenses, leading to increased due diligence [5] - This reluctance from banks may not significantly impact major traders who have substantial cash reserves but could complicate operations for smaller companies entering the Venezuelan oil market [6] Group 3: Government Response and Sanction Relaxation - The White House has indicated that the Trump administration is rapidly issuing general licenses in response to high interest from oil and gas companies in Venezuela's energy sector [7] - The Treasury Department has issued additional general licenses that allow major oil producers like Chevron, BP, Eni, Shell, and Repsol to expand their activities in Venezuela, marking a significant relaxation of production-targeted sanctions [8]