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Repsol (OTC:REPYY) Stock, Option Chain

REPSOL S.A.

Repsol is a Spanish integrated oil and gas firm. In 2023, production was 599,000 barrels of oil equivalent a day (34% liquids), and proven reserves stood at 1.8 billion barrels of oil equivalent (36% oil). It also operates a downstream segment with refining capacity of 1.0 million barrels a day and holds 2.8 GW of installed renewable power generation capacity.

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REPYY

Repsol SA (OTC: REPYY) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

All You Need to Know About Repsol Rating Upgrade to Buy

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Oil prices surge on anticipation of increased demand and ongoing supply constraints. Goldman Sachs projects continued demand growth until 2034.

WTI Crude Hits $80, Notches Best Day In Over 2 Months: &#39;Peak Oil Demand Still A Decade Away&#39;

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Repsol S.A.(OTC: REPYY) joins the U.S. onshore wind market by acquiring renewable energy platform ConnectGen, with a 20,000 MW pipeline and development capabilities, for $768 million. 

Repsol Dives Into US Wind Market With ConnectGen Acquisition Worth $768M

Repsol SA

Repsol SA (OTC: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTC">REPYY</a>) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.
A company&#39;s changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
As such, the Zacks rating upgrade for Repsol is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Repsol imply an improvement in the company&#39;s underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
Earnings Estimate Revisions for Repsol
For the fiscal year ending December 2024, this company is expected to earn $3.57 per share, which is a change of -15.2% from the year-ago reported number.
Analysts have been steadily raising their estimates for Repsol. Over the past three months, the Zacks Consensus Estimate for the company has increased 1%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of Repsol to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2290014/all-you-need-to-know-about-repsol-repyy-rating-upgrade-to-buy?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2290014">To read this article on Zacks.com click here.</a>

Oil prices had their strongest session in over two months Tuesday, with West Texas Intermediate (WTI) light crude climbing 2% to $80 a barrel, and Brent crude rising 1.7%<a href="https://www.benzinga.com/topic/oil"> to $84 a barrel.</a>
The surge in prices is attributed to the anticipation of increased demand with the start of the driving season and ongoing supply constraints. The market expects that OPEC+ will maintain its voluntary output cuts of 2.2 million barrels per day into the second half of the year during its upcoming June 2 meeting. 
The United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks the WTI price, rose 3%, factoring in Monday&#8217;s oil performance while U.S. markets were closed for Memorial Day.
Energy stocks also rallied, with the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) up 1%, outperforming all other S&amp;P 500 sectors.
<h3 class="wp-block-heading">Chart: WTI Rebounds To $80, Breaking April-May Downtrend</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/28152847/image-117-1024x500.png" alt="" class="wp-image-359445" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/28152847/image-117-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/28152847/image-117-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/28152847/image-117-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/28152847/image-117-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/28152847/image-117.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Goldman Sachs Raises Long-Term Oil Demand Outlook</h3>
Goldman Sachs has revised its long-term global crude demand forecast upward, projecting continued growth until 2034, after which it expects oil consumption to plateau.
&#8220;Peak oil demand is still a decade away,&#8221; Goldman analysts said in a report. Goldman Sachs now forecasts global oil demand to reach 108.5 million barrels per day (mb/d) by 2030, up from a previous estimate of 106 mb/d. The firm predicts peak demand around 2034 at approximately 110 mb/d, followed by a flat trend to 2040.
&#8220;Our view is more bullish than the IEA, which assessed that oil demand peaks before 2030,&#8221; Goldman Sachs said. 
The investment bank foresees a potential scenario where oil demand could even rise to about 113 mb/d by 2040, driven by a slower transition to electric vehicles.
&#8220;The EV market is facing a few headwinds,&#8221; analysts said. 
&#8220;EV subsidies are being cut in several European markets, and continued price competition has led to profit pressure for OEMs and a slower pace of new EV investments. Our Auto team thinks our EV slow-adoption scenario, which predicts a pause this year in EV sales penetration increase, has become more realistic.&#8221;
Goldman Sachs said capital expenditure on crude oil production is slowing, contributing to medium-term supply constraints across the oil value chain.
Goldman Sachs named 23 Buy- and Sell-rated stocks across the energy sector to reflect its long-term views on the oil market.
<h2 class="wp-block-heading">Goldman Sachs&#8217; Energy-Stock Strategies</h2>
<h3 class="wp-block-heading">Upstream/Integrated Exposure</h3>
Theme 1: Own FCF Leaders
Goldman Sachs highlights Buy-rated Shell plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>), Petrobras (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>), CNOOC Ltd., Cenovus Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>), and Canadian Natural Resources Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) as free cash flow leaders.
Sell-rated ONGC has weaker FCF due to limited production growth.
Theme 2: Own Growth Assets
The firm points to Buy-rated ENI S.p.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/E#NYSE">E</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), and Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) as companies with significant growth assets, citing successful exploration and shale oil access as key opportunities.
Theme 3: Own Profitable Projects
Goldman Sachs identifies Buy-rated PTTEP, Santos Ltd. (OTCPK: SSLZY), and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) as leaders based on the profitability of their projects.
<h3 class="wp-block-heading">Refining Exposure</h3>
Theme 1: Own Exposure to Refining Market Tightness
The investment bank recommends Buy-rated Thai Oil Public Co. (OTCPK: TOIPF), S-Oil, Reliance Industries, and Repsol S.A. (OTCPK: REPYY) for their high exposure to middle distillates. It also favors Buy-rated HF Sinclair Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>), Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), and Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) as beneficiaries of broader refining margin strength.
Theme 2: Own Biofuel Leaders
Goldman Sachs highlights Buy-rated Neste Oyj (OTCPK: NTOIY) and Calumet Specialty Products Partners L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) for their exposure to sustainable aviation fuel.
Theme 3: Avoid Demanding Valuation
The firm is Sell-rated on Indian Oil Corp. and HelleniQ Energy Holdings S.A. (OTCPK: HLPMF), citing high valuations and weaker FCF generation.
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39044604/us-stocks-waver-nvidia-lifts-chipmaker-boats-gamestop-spikes-moderna-tumbles-whats-">US Stocks Waver, Nvidia Lifts Chipmakers, GameStop Spikes, Moderna Tumbles: What&#8217;s Driving Markets Tuesday?</a>
Photo via Shutterstock.

WTI Crude Hits $80, Notches Best Day In Over 2 Months: 'Peak Oil Demand Still A Decade Away'

Repsol S.A.(OTC: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTC">REPYY</a>) joins the U.S. onshore wind market by acquiring renewable energy platform&nbsp;ConnectGen, with a 20,000 MW pipeline and development capabilities, for $768 million.&nbsp;
The acquisition of ConnectGen from Quantum Capital Group is a new milestone in Repsol Renewables&#39; strategy to strengthen its position as a global player in the renewable energy business.
For 2023, the company plans to allocate 35% of its&nbsp;<a class="editor-rtfLink" href="https://www.repsol.com/en/shareholders-and-investors/financial-information/quarterly-results/index.cshtml" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">investments&nbsp;</a>to low-carbon projects. The fiscal contribution stood at &euro;7.343 billion in the year&#39;s first half. Repsol issued most of its investments in the first half of the year to projects in Spain (43%) and the U.S. (39%).
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/05/32553202/repsol-mulls-selling-49-stake-in-spanish-wind-farm-and-photovoltaic-power-plants" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Repsol Mulls Selling 49% Stake In Spanish Wind Farm And Photovoltaic Power Plants</a>
Through this transaction, Repsol will add an onshore wind power growth platform in the U.S. that complements Hecate Enegy&#39;s solar &amp; storage development capabilities.
The deal reinforces its international portfolio to support its strategic target of 20,000 MW of installed capacity by 2030.
Also See:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/05/32445107/repsol-spreads-footprint-in-italy-with-first-renewable-project" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Repsol Spreads Footprint In Italy With First Renewable Project</a>
&quot;This transaction is another step in our firm commitment to transforming our industry and becoming a zero net emissions company by 2050, while maintaining our profitable growth, diversification and multi-energy focus and ensuring shareholder returns. The addition of ConnectGen accelerates our commitment to renewable generation in one of the markets with the greatest potential for future growth. In that sense, bringing on board its valuable team of experts is key to ensure our successful future growth with robust profitability in the market,&quot; explains Josu Jon Imaz, CEO of Repsol.
Price Action:&nbsp;REPYY shares closed lower by 0.58% to $15.53 on Thursday.

Shell PLC&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shel#NYSE">SHEL</a>) and&nbsp;BP PLC&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bp#NYSE">BP</a>) have reportedly filed arbitration claims separately against the U.S. exporter,&nbsp;Venture Global LNG, for failure to supply contracted cargoes.
The lawsuit stated that Venture Global delivered to non-contract customers as prices escalated on Russia&#39;s gas-supply cuts to Europe, reported&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/energy/shell-bp-pursue-arbitration-claims-against-venture-global-lng-2023-07-12/#:~:text=LONDON%2C%20July%2012%20(Reuters),familiar%20with%20the%20matter%20said" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters</a>, citing people familiar with the matter.
According to the report, Shell and BP lost billions of dollars in revenues to Venture Global LNG due to not attaining the contracted fuel.&nbsp;
Earlier, other such cases were filed by Italian utility company&nbsp;Edison International&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eix#NYSE">EIX</a>) and Spanish energy firm&nbsp;Repsol SA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTC">REPYY</a>) against Venture Global.
Last week, Shell updated the production outlook to be 950 - 990 thousand boe/d (vs. 920 - 980 thousand boe/d expected earlier), and LNG liquefaction volumes of 6.9 - 7.3 MT (vs.&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33144263/shell-revises-q2-operational-outlook" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">6.8 - 7.4 MT expected earlier)</a>.&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/05/32450061/bp-unit-slapped-with-40m-fine-for-air-pollution-charges-at-indiana-based-refinery" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">BP Unit Slapped With $40M Fine For Air Pollution Charges At Indiana-Based Refinery</a>
Price Action: SHEL shares are trading higher by 1.33% at $61.68, and BP shares are trading up 2.14% at $36.68&nbsp;premarket on the last check Tuesday.

Large Cap

Legal

Media

Shell & BP File Lawsuit Against Venture Global, Claim Billions Of Dollars Sales Loss: Report

<ul>
<li>Repsol S.A.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTC">REPYY</a>) is planning the sale of a 49% stake in its Spanish wind farm and photovoltaic power plants in a deal worth &euro;700 million to &euro;800 million.</li>
<li>The renewable plants have a total capacity of 600 megawatts,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/repsol-sell-49-stake-renewable-power-plants-spain-el-confidencial-says-2023-05-24/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters</a>&nbsp;reported, citing people familiar with the matter.</li>
<li>Repsol has&nbsp;<a class="editor-rtfLink" href="https://www.repsol.com/en/about-us/repsol-worldwide/europe/spain/index.cshtml" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">12 hydroelectric power plants</a>, one wind farm, and five renewable projects (photovoltaic and wind) in Spain.&nbsp;</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/05/32445107/repsol-spreads-footprint-in-italy-with-first-renewable-project" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Repsol Spreads Footprint In Italy With First Renewable Project</a></li>
<li>The plants are in Andalusia, Aragon, Castile-La Mancha, Castile, and Leon.</li>
<li>Meanwhile, the company said in a release that Repsol and the Ibere&oacute;lica Renovables Group&#39;s&nbsp;<a class="editor-rtfLink" href="https://www.repsol.com/en/press-room/press-releases/2023/repsol-and-ibereolica-first-solar-project-chile-begins-producing/index.cshtml" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">first solar project in Chile</a>&nbsp;began producing electricity.</li>
<li>The first 76.8 MW phase of the Elena solar plant, which will have a total installed capacity of up to 596 MW, has been commissioned.</li>
<li>Price Action:&nbsp;REPYY shares are trading lower by 0.35% to $14.24 on the last check Wednesday.</li>
</ul>

Repsol Mulls Selling 49% Stake In Spanish Wind Farm And Photovoltaic Power Plants

<ul>
<li>Ryanair Holdings PLC&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ryaay#NASDAQ">RYAAY</a>) reported FY23 revenue growth of&nbsp;<a class="editor-rtfLink" href="https://investor.ryanair.com/wp-content/uploads/2023/05/FY23-Ryanair-Results.pdf" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">124% Y/Y to &euro;10.78 billion</a>.</li>
<li>The company posted a net profit of &euro;1.43 billion, vs. a net loss of &euro;355 million a year ago, slightly better than the consensus of &euro;1.425 billion per&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/aerospace-defense/ryanair-posts-near-record-fy-profit-summer-demand-robust-2023-05-22/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters</a>.</li>
<li>Scheduled revenues were up 161% Y/Y to &euro;6.93 billion, led by traffic growth of 74% Y/Y to 168.6 million customers and a 50% Y/Y uptick in average fares to &euro;41.</li>
<li>Ancillary revenue rose 79% Y/Y to &euro;3.84 billion on higher traffic and a solid performance in priority boarding, in-flight sales, and reserved seating.</li>
<li>The load factor improved to 93%, compared to 82% in FY22.</li>
<li>Operating costs increased 75% Y/Y to &euro;9.20 billion on higher fuel costs (+113% Y/Y to &euro;3.90 billion).</li>
<li>Net cash generated by operating activities for FY23 totaled &euro;3.89 billion. As of March 31 2023, net cash stood at &euro;0.56 billion vs net debt of &euro;1.45 billion a year ago.</li>
<li>The company&rsquo;s fuel needs are around 85% hedged at approximately $89bbl for FY24, and 25% of H1 FY25 is covered at $77bbl.</li>
<li>As a part of its goals of equipping 12.5% of its flights with sustainable aviation fuel by 2030, the company recently&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/05/32445107/repsol-spreads-footprint-in-italy-with-first-renewable-project" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">signed/expanded deals</a>&nbsp;with&nbsp;Repsol SA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTC">REPYY</a>) in Spain and Portugal,&nbsp;OMV AG&nbsp;(OTCPK: OMVKY) in Austria, Germany and CEE,&nbsp;Neste Corp&nbsp;(OTCPK: NTOIY) in Schiphol and&nbsp;Shell PLC&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shel#NYSE">SHEL</a>) in London and Dublin.</li>
<li>Also, earlier this month, the company disclosed&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/05/32297333/ryanair-orders-40b-worth-new-aircraft-from-boeing-expects-80-growth-in-traffic-by-march-2034" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ordering 300 new 737-MAX-10</a>&nbsp;aircraft from&nbsp;Boeing Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) for $40 billion.</li>
<li>FY24 Outlook:&nbsp;Ryanair plans to grow traffic to around 185 million (+10% Y/Y). However, the company thinks&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/23/05/32418360/boeings-april-delivery-decline-sparks-new-deals" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Boeing&rsquo;s recent delivery delays</a>&nbsp;may push the growth target to lower profitable H2 FY24 and reduce it slightly.</li>
<li>The company expects FY24 revenues to increase sufficiently, covering over &euro;1 billion rise in fuel costs, thereby leading to a modest increase in profits.</li>
<li>&ldquo;Through A4E, and the EU, we are campaigning to accelerate reform of European ATC to eliminate avoidable flight cancellations/delays (something urgent in light of repeated French ATC strikes in Q1), which will substantially lower fuel consumption and CO₂ emissions,&rdquo; commented CEO Michael O&rsquo;Leary.</li>
<li>Price Action:&nbsp;RYAAY shares are trading higher by 1.00% at $101.29 premarket on the last check Monday.</li>
<li>Photo via Wikimedia Commons</li>
</ul>

Guidance

OMVKY

RYAAY

Ryanair Flies Back To Profit Lane In FY23, Says Boeing Delivery Delays May Hurt FY24 Traffic Expectations

<ul>
<li>Repsol SA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTC">REPYY</a>) announced renewable energy projects of around&nbsp;<a class="editor-rtfLink" href="https://www.repsol.com/en/press-room/press-releases/2023/repsol-to-develop-renewable-projects-Italy-totaling-more-than-170-mw/index.cshtml" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">1.77 gigawatts (GW)</a>&nbsp;in Italy.&nbsp;</li>
<li>The company plans to invest around &euro;500 million ($550 million) in this first project in Italy, as per&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/sustainability/repsol-invest-550-mln-first-italian-renewable-projects-2023-05-17/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters</a>.</li>
<li>The renewable project comprises 943 MW of wind and 825 MW of photovoltaic solar projects, with over 60% currently at an advanced stage of development.</li>
<li>Repsol plans to commence construction of the first two photovoltaic solar plants in Southern Italy, having a capacity of 11 MW, in due course.&nbsp;</li>
<li>The move is a part of strengthening its foothold in Italy and enhancing its presence in the key markets of Europe.&nbsp;</li>
<li>Over 2021-2025, Repsol expects renewable projects&#39; installed capacity to reach 6.0 GW by 2025 and 20.0 GW by 2030.&nbsp;</li>
<li>Earlier this month, the company signed an agreement with&nbsp;Ryanair Holdings PLC&nbsp;(NASDAQ:&nbsp;RYAAY) to&nbsp;<a class="editor-rtfLink" href="https://www.repsol.com/en/press-room/press-releases/2023/repsol-and-ryanair-sign-agreement-to-promote-renewable-fuels/index.cshtml" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">promote&nbsp;</a>the use of renewable fuels in Spain and Portugal.</li>
<li>Price Action: REPYY shares traded higher by 0.28% at $14.37 on the last check Wednesday.</li>
</ul>

Repsol Spreads Footprint In Italy With First Renewable Project

<ul>
<li>U.S. oil producer&nbsp;Chevron Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) plans to export its first cargo of Venezuelan crude to its Pascagoula, Mississippi refinery after bagging a U.S. license in 2022.</li>
<li>The 500,000-barrel cargo of Hamaca heavy crude, to be loaded at state-run PDVSA&#39;s Jose port, comes from the Petropiar oil joint venture operated by both companies, Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/commodities/chevron-send-500000-barrel-cargo-venezuelan-oil-its-pascagoula-refinery-2023-01-03/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reports</a>.</li>
<li>As of Tuesday, the tanker prepared to carry the shipment, the Bahamas-flagged Caribbean Voyager, was waiting to load near Jose.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29456698/chevron-clocks-over-80-jump-in-quarterly-earnings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Chevron Clocks Over 80% Jump In Quarterly Earnings</a></li>
<li>Another Chevron-chartered vessel, the UACC Eagle, arrived on Tuesday in Venezuelan waters, carrying some 500,000 barrels of heavy naphtha to help operate Petropiar&#39;s crude upgrader.</li>
<li>In November 2022, Chevron won a 6-month license&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29164881/chevron-likely-to-resume-oil-production-in-venezuela-as-biden-administration-considers-easing-sancti" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">to expand operations in Venezuela</a>&nbsp;to encourage talks between the government of Nicolas Maduro and the country&#39;s political opposition toward a presidential election this year.</li>
<li>Washington had previously authorized Italy&#39;s&nbsp;ENI S.P.A.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/e#NYSE">E</a>) and Spain&#39;s&nbsp;Repsol S.A.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTC">REPYY</a>) to recoup pending debts in Venezuela by taking Venezuelan crude for European refining.</li>
<li>The report further noted that the authorized shipments could slightly boost Venezuela&#39;s crude exports, which last year remained almost unchanged year-on-year.</li>
<li>Price Action:&nbsp;CVX shares are trading lower by 1.34% at $171.65 in premarket on the last check Wednesday.</li>
</ul>

Chevron Eyes First Cargo Export Of Venezuelan Crude After Winning US License

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/12/30106176/us-embargo-on-china-intensifies-ban-extends-to-ai-chip-sector" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Embargo On China Intensifies, Ban Extends To AI Chip Sector</a>
<ul>
<li>The U.S. government added Chinese memory chipmaker&nbsp;Yangtze Memory Technologies Co, Ltd&nbsp;and 21 &quot;major&quot; Chinese players in the artificial intelligence chip sector to a trade blacklist.</li>
<li>The U.S. added YMTC to the list over fears of diverting American technology to previously blacklisted Chinese tech giants&nbsp;Huawei Technologies Co Ltd&nbsp;and&nbsp;Hikvision.</li>
<li>YMTC had been in the U.S. regulatory crosshairs for a long time.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30105171/amazon-taps-streaming-boom-via-games-workshop-deal-for-warhammer-films" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Taps Streaming Boom Via Games Workshop Deal For Warhammer Films</a>
<ul>
<li>Fantasy war game miniatures maker&nbsp;Games Workshop&nbsp;inked a deal with&nbsp;Amazon.Com Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) to make films and TV programs based on its characters. The financial terms of the deal remain undisclosed.</li>
<li>Games Workshop said Amazon would develop its intellectual property into film and television productions. It will also grant merchandising rights to the U.S. company, beginning with the &quot;Warhammer 40,000&quot; universe.</li>
</ul>
&nbsp;
Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30105501/american-airlines-raised-its-bar-to-qualify-for-lowest-tier-of-frequent-flyer-program" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">American Airlines Raised Its Bar To Qualify For Lowest Tier Of Frequent Flyer Program</a>
<ul>
<li>American Airlines Group Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>) American&#39;s AAdvantage program members will have to earn 40,000 &quot;loyalty points&quot; to reach Gold, its lowest tier of status, up from 30,000 from March.&nbsp;</li>
<li>The Gold level includes free checked bags, early boarding, and free upgrades.</li>
<li>AAL became the latest airline to bump up the costs for travelers to qualify for frequent-flier status in its loyalty program in 2023.</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/12/30104979/amazon-drew-concerns-from-democrat-senators-over-laxity-in-warehouse-rebuilding-after-2021-tornado" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Drew Concerns From Democrat Senators Over Laxity In Warehouse Rebuilding After 2021 Tornado</a>
<ul>
<li>Three U.S. lawmakers challenged&nbsp;Amazon.Com, Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) plans for rebuilding an Illinois warehouse that collapsed in a tornado in 2021, killing six workers and provoking an investigation by workplace safety regulators.&nbsp;</li>
<li>The lawmakers said Amazon should construct the warehouse with more robust safety features than before the collapse.</li>
<li>Amazon is a tenant in the facility owned by a separate company.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30107207/avaya-holdings-likely-to-file-for-bankruptcy-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Avaya Holdings Likely To File For Bankruptcy</a>
<ul>
<li>Avaya Holdings Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/avya#NYSE">AVYA</a>) will likely file for chapter 11 bankruptcy. Earlier in the week, Avaya said it is considering restructuring proposals from creditor groups.</li>
<li>The technology company has been trying to clear problems around its accounting standards.</li>
<li>In August, the company said it was doubtful about continuing its operations. The company did not file a second-quarter earnings report and said it wouldn&#39;t submit an annual report due to the investigations into its balance sheets.</li>
</ul>
&nbsp;
Techcrunch
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/12/30105675/alphabets-robotics-arm-intrinsic-consolidates-position-with-latest-acquisition" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Alphabet&#39;s Robotics Arm Intrinsic Consolidates Position With Latest Acquisition</a>
<ul>
<li>Alphabet Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) Intrinsic division acquired several divisions within Open Robotics, famous for robotics software packages Gazebo and Robotic Operating System (ROS).</li>
<li>The financial terms of the deal remained undisclosed.</li>
<li>Intrinsic bought Open Source Robotics Corporation (OSRC), the for-profit arm of Open Robotics, and Open Source Robotics Corporation Singapore (OSRC-SG), known for efforts on Open-RMF for interoperability between fleets of robots and physical infrastructure.</li>
</ul>
&nbsp;
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30105131/as-tesla-extends-discounts-to-europe-rival-ford-hikes-prices-of-f-150-lightning-ev-truck-third-time" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">As Tesla Extends Discounts To Europe, Rival Ford Hikes F-150 Lightning Prices For 3rd Time Since Launch</a>
<ul>
<li>Tesla Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) and &quot;wannabe&quot; electric vehicle leader&nbsp;Ford Motor Company&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) are apparently taking diverging routes with respect to vehicle pricing.</li>
<li>Tesla&#39;s listing of its&nbsp;Model 3&nbsp;or&nbsp;Model Y&nbsp;inventory vehicles shows a discount of up to 4,000 euros ($4,255) in many European countries, Drive Tesla reported.</li>
<li>Meanwhile, Ford announced a third price increase for its&nbsp;F-150 Lightning&nbsp;EV truck. The base trim of the truck, namely the Pro, is now shown at $55,974 on the configurator page. Electrek first spotted this.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/12/30105458/us-senate-passes-858-billion-in-annual-defense-spending-higher-than-proposed-by-president-biden" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Senate Passes $858B In Annual Defense Spending, Higher Than Proposed By President Biden</a>
<ul>
<li>The U.S. Senate passed legislation authorizing a massive $858 billion annual defense spending, which is $45 billion more than U.S. president&nbsp;Joe Biden&nbsp;proposed.&nbsp;</li>
<li>Senators supported the National Defense Authorization Act setting policy for the Pentagon by an overwhelming 83-11 bipartisan majority.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/22/12/30107548/us-audit-agency-secures-complete-access-to-inspect-investigate-chinese-firms-for-first-time-in-histo" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Audit Agency Secures Complete Access to Inspect, Investigate Chinese Firms For The First Time In History</a>
<ul>
<li>The U.S. accounting agency, Public Company Accounting Oversight Board (PCAOB), said it has&nbsp;<a class="editor-rtfLink" href="https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-secures-complete-access-to-inspect-investigate-chinese-firms-for-first-time-in-history" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">full</a>&nbsp;access to inspect and investigate firms in China for the first time in history.</li>
<li>The move removes the overhang of around 200 Chinese companies that could be delisted from the U.S. stock exchanges.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/12/30106581/accenture-clocks-5-revenue-growth-in-q1-net-bookings-slow-down-boosts-fy23-eps-outlook" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Accenture Clocks 5% Revenue Growth In Q1, Net Bookings Slow Down; Boosts FY23 EPS Outlook</a>
<ul>
<li>Accenture plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/acn#NYSE">ACN</a>) reported first-quarter FY23 revenue growth of 5% year-on-year to $15.7 billion, beating the consensus of $15.6 billion.</li>
<li>New bookings decreased by 3% Y/Y to $16.2 billion.</li>
<li>EPS of $3.08 beat the consensus of $2.91.&nbsp;</li>
<li>The company generated $397 million in free cash flow.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/12/30106583/aker-bp-and-its-partners-to-invest-20-5b-in-new-oil-and-gas-projects-in-norway" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Aker BP, Along With Its Partners, To Invest Around $20.5B In New Oil, Gas Projects In Norway</a>
<ul>
<li>Aker BP ASA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/detnf#OTC">DETNF</a>) and its partners have submitted ten plans for development &amp; operation and one for installation and operation to the Ministry of Petroleum and Energy.&nbsp;</li>
<li>The companies will invest more than NOK 200 billion ($20.5 billion) to develop several oil and gas fields off Norway in the coming years.</li>
<li>Aker BP, partly owned by&nbsp;BP Plc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/bp#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BP</a>), is the second-largest petroleum producer off Norway after&nbsp;Equinor ASA&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/eqnr#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EQNR</a>).</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30105877/bt-plans-to-merge-global-enterprise-units-in-100m-cost-cutting-drive" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BT To Merge Global &amp; Enterprise Units In &pound;100M Cost-Cutting Drive</a>
<ul>
<li>BT Group&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/btgof#OTC">BTGOF</a>) will combine its Global and Enterprise units into a single B2B unit to enhance value, strengthen its competitive position, and deliver material synergies.</li>
<li>The move will drive annualized cost savings of at least &pound;100 million by the end of FY25 through consolidation and rationalization of management teams, support functions, product portfolios, and systems.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/12/30106009/spanish-energy-company-repsol-bolsters-renewables-business-via-asterion-energies-acquisition" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Spanish Energy Company Repsol Bolsters Renewables Business Via Asterion Energies Acquisition</a>
<ul>
<li>Repsol SA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTC">REPYY</a>) has acquired&nbsp;Asterion Energies&nbsp;from European infrastructure fund Asterion Industrial for &euro;560 million plus up to &euro;20 million in contingent payments.</li>
<li>Repsol expects the deal to strengthen its presence in key European markets and consolidates its international expansion in OECD markets.&nbsp;</li>
</ul>
&nbsp;

Asia

Tech

AMZN

AVYA

BTGOF

DETNF

EQNR

GOOG

GOOGL

TSLA

US Audit Agency Can Now Inspect & Investigate Chinese Firms, US Senate Passes $858B In Annual Defense Spending: Today's Top Stories

<ul>
<li>Repsol SA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTC">REPYY</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.repsol.com/en/press-room/press-releases/2022/repsol-accelerates-growth-renewables-with-purchase-of-asterion-energies-7700-mw-portfolio/index.cshtml" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">acquired&nbsp;</a>Asterion Energies&nbsp;from European infrastructure fund Asterion Industrial for &euro;560 million plus up to &euro;20 million in contingent payments.</li>
<li>Repsol expects the deal to strengthen its presence in key European markets and consolidates its international expansion in OECD markets.&nbsp;</li>
<li>Asterion Energies manages a portfolio of renewable projects mostly under development totaling 7,700 megawatts (MW) in Spain (84%), Italy (12%), and France (4%).</li>
<li>Asterion&#39;s asset portfolio includes 4,900 MW of PV solar and 2,800 MW of wind generation, of which 2,500 MW are at an advanced stage of development or under construction.</li>
<li>&quot;We are realizing our ambition to be leaders in the energy transition, taking firm steps, such as this asset acquisition, to meet our goals of growth, diversification, and focus on multi-energy,&quot; said Repsol CEO Josu Jon Imaz.</li>
<li>In 2019, Repsol committed to achieving zero net emissions by 2050.&nbsp;</li>
<li>The company&#39;s 2021-2025 Strategic Plan envisages reaching 6,000 MW of installed renewable generation capacity by 2025 and 20,000 MW by 2030.</li>
<li>Repsol entered the U.S. renewables market by purchasing 40% of Hecate Energy.&nbsp;</li>
<li>Price Action:&nbsp;REPYY shares closed lower by 0.46% at $15.14 on Thursday.</li>
<li>Photo Via&nbsp;Wikimedia Commons</li>
</ul>

Spanish Energy Company Repsol Bolsters Renewables Business Via Asterion Energies Acquisition

<ul>
<li>Kraft Heinz Co&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/khc#NASDAQ">KHC</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/06/b27874521/kraft-heinz-announces-agreement-with-repsol-in-companys-first-wind-energy-investment" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">signed a power purchase agreement&nbsp;</a>with the Madrid-based energy company&nbsp;Repsol S.A.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTC">REPYY</a>). The financial terms were not disclosed.</li>
<li>The twelve-year agreement is the company&rsquo;s first investment in wind energy and aligns with its vision of sourcing a major part of its electricity from renewable sources by 2025.</li>
<li>Kraft Heinz is expected to source over 90 gigawatt-hours per year of renewable energy from Repsol&#39;s largest wind project, Delta II.</li>
<li>The energy procured will power about 90% of Kraft Heinz&rsquo;s European manufacturing sites.</li>
<li>Price Action:&nbsp;KHC shares closed higher by 0.68% at $38.66 on Monday.</li>
</ul>

Kraft Heinz Procures Wind Energy From Repsol

<ul>
<li>U.S. LNG export project developer&nbsp;Venture Global&nbsp;and German energy company&nbsp;EnBW&nbsp;have&nbsp;<a class="editor-rtfLink" href="https://www.prnewswire.com/in/news-releases/venture-global-and-enbw-announce-lng-sales-and-purchase-agreements-887354140.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">signed two long-term sales and purchase agreements</a>&nbsp;for 1.5 million tonnes per annum (mtpa) of LNG.</li>
<li>The LNG will come from Venture Global&rsquo;s Plaquemines and CP2 facilities, starting in 2026.&nbsp;</li>
<li>According to the agreement, EnBW will purchase 0.75 mtpa from Plaquemines LNG and 0.75 mtpa from CP2 LNG for 20 years.</li>
<li>EnBW has become the next European customer of Venture Global, which has already announced agreements with&nbsp;PGNiG,&nbsp;BP plc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/bp#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BP</a>),&nbsp;Shell plc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/shel#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SHEL</a>),&nbsp;Repsol&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/repyf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">REPYF</a>),&nbsp;Edison International&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/eix#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EIX</a>), and&nbsp;GALP&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/glpef#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GLPEF</a>).</li>
<li>Venture Global&rsquo;s first facility Calcasieu Pass started producing LNG in January 2022.&nbsp;</li>
<li>The company is also developing an additional 60 mtpa of production capacity in Louisiana. In addition, it is developing carbon capture and sequestration projects at each of its LNG facilities.</li>
<li><a class="editor-rtfLink" href="https://www.wsj.com/articles/u-s-natural-gas-exporter-completes-first-deal-with-german-buyer-11655798400?mod=hp_lead_pos2" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Wall Street Journal reports</a>&nbsp;that last week, Russia cut supplies to Europe as it faced economic sanctions from Western nations.&nbsp;</li>
<li>The report added that Germany would restart coal-burning power plants and offer incentives for companies to reduce gas consumption as it seeks to build up gas inventories ahead of winter.</li>
<li>Photo via Wikimedia Commons</li>
</ul>

Contracts

GLPEF

GLPEY

REPYF

Venture Global, EnBW Ink LNG Sales And Purchase Deals

Reflecting the world&rsquo;s uncertainty about the U.S. economy, the market&rsquo;s major indices saw incredible volatility in May.&nbsp;
Exchange-traded funds (ETFs) that track major indices tell this story with relative clarity. The SPDR S&amp;P 500 ETF Trust (NYSEARCA: SPY), for example, reached a high of $429.66 and hit a low of $380.54 in May before closing at $412.93. The Fidelity Nasdaq Composite Index ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/oneq#NASDAQ">ONEQ</a>) and the SPDR Dow Jones Industrial Average ETF (NYSEARCA: DIA) displayed similar erratic behavior.&nbsp;
Despite the volatility of the market, OTC Markets Group Inc. (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/otcm#OTCQX">OTCM</a>)&rsquo;s regulated markets&nbsp; experienced a steady increase in total monthly dollar volume, recording $44.5 billion in May compared to $40.6 billion in April. Additionally, the operator saw a former OTCQB Venture Market security springboard onto the OTCQX Best Market&rsquo;s List of 10 Most Active Securities in the same month it <a href="https://financialpost.com/globe-newswire/otc-markets-group-welcomes-sprott-physical-uranium-trust-to-otcqx">upgraded</a> from the OTCQB. .&nbsp;
Both the OTCQX Best Market and the OTCQB Venture Market maintained significant international presence, recording a total of 39 international operators among the top most-traded securities in each market.&nbsp;
<h3>The OTCQX Best Market Most-Active Securities Welcomes New Faces</h3>
The OTCQX Best Market recorded $11 billion in trading volume in May, an increase from April&rsquo;s $10.5 billion figure.&nbsp;
Retaining their spots as first-, second- and third-most traded securities on the OTCQX Best Market are&nbsp; Roche Holding AG (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/rhhby#OTCQX">RHHBY</a>), Grayscale Bitcoin Trust (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/gbtc#OTCQX">GBTC</a>) and Grayscale Ethereum Trust (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/ethe#OTCQX">ETHE</a>).&nbsp;
The OTCQX&rsquo;s top 10 most-active securities experienced a slight reshuffle in May, welcoming AXA (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/axahy#OTCQX">AXAHY</a>), Danone (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/danoy#OTCQX">DANOY</a>) and OTCQB graduate Sprott Physical Uranium Trust Fund (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/sruuf#OTCQX">SRUUF</a>). Having been the most-traded security on the OTCQB Venture Market last month, Sprott was the ninth most-traded security on the OTCQX just one month later.
International operators, once again, maintain a strong presence on OTCQX composing 24 of the top 30 securities, up from 21 in April. France&rsquo;s BNP Paribas S.A. (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/bnpqy#OTCQX">BNPQY</a>) and Germany&rsquo;s Infineon Technologies AG (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/ifnny#OTCQX">IFNNY</a>) and adidas AG (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/addyy#OTCQX">ADDYY</a>) were again on the OTCQX top 10 most-active securities, while Norway&rsquo;s Norsk Hydro ASA (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/nhydy#OTCQX">NHYDY</a>) and Ireland&rsquo;s Experian plc (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/expgy#OTCQX">EXPGY</a>) made it among May&rsquo;s top 30 most-active securities.
Other notable movers:
&nbsp;
<ul>
<li>Royal DSM NV (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/rdsmy#OTCQX">RDSMY</a>) claimed 15th place on the OTCQX&rsquo;s list of most-traded securities, experiencing a 160% change in trading volume from last month.</li>
</ul>
<ul>
<li>Repsol S.A. (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTCQX">REPYY</a>) claimed 25th place on the OTCQX&rsquo;s list of most-traded securities, experiencing a 111% change in trading volume from last month.&nbsp;</li>
</ul>
&nbsp;
<h3>The OTCQB Venture Market Welcomes A New Leading Company As Sprott Graduates To The OTCQX</h3>
The OTCQB Venture Market recorded $896 million in trading volume in May, a decline from April&rsquo;s $1.1 billion figure.&nbsp;
May introduced three new entities to the OTCQB&rsquo;s Top 10 Most-Traded Securities list. Government services operator Sysorex Inc. (OTCQB: <a class="ticker" href="https://www.benzinga.com/stock/sysx#OTCQB">SYSX</a>), Federal Home Loan Mortgage Corp. (Freddie Mac) (OTCQB: <a class="ticker" href="https://www.benzinga.com/stock/fmcc#OTCQB">FMCC</a>) and portfolio management company Phoenix Rising Co. (OTCQB: <a class="ticker" href="https://www.benzinga.com/stock/prcx#OTCQB">PRCX</a>) represent the new faces on the block.
Newness seemed almost a theme in the OTCQB Venture Market in May. In addition to three new faces, all three of the top most-traded securities in the market changed with Northwest Biotherapeutics Inc. (OTCQB: <a class="ticker" href="https://www.benzinga.com/stock/nwbo#OTCQB">NWBO</a>), Sysorex Inc. (OTCQB: <a class="ticker" href="https://www.benzinga.com/stock/sysx#OTCQB">SYSX</a>) and Netlist Inc. (OTCQB: <a class="ticker" href="https://www.benzinga.com/stock/nlst#OTCQB">NLST</a>) taking positions as first, second and third most traded, respectively.
Fifteen international securities landed a spot among the top 30 most-traded securities. Of these 15 securities, nine are Canadian, three are Australian, one is English, one is South African and one is Swiss.&nbsp;
Other notable movers:&nbsp;
<ul>
<li>Crimson Wine Group Ltd. (OTCQB: <a class="ticker" href="https://www.benzinga.com/stock/cwgl#OTCQB">CWGL</a>) climbed to 24th place in the most-active group and recorded a $2.3 million rise in trading volume compared to last month.&nbsp;</li>
<li>Valour Inc. (OTCQB: <a class="ticker" href="https://www.benzinga.com/stock/deftf#OTCQB">DEFTF</a>) &mdash; formerly DeFi Technologies &mdash; experienced a $1.8 million increase in trading volume compared to March, climbing to 28th place on the OTCQB&rsquo;s Top 30.&nbsp;</li>
</ul>
&nbsp;
The OTCQX And OTCQB Top 10
Below are the top 10 most actively traded securities on the OTCQX Best Market and OTCQB Venture Market in May.&nbsp; 
&nbsp;
OTCQX Top 10:&nbsp;
<table>
<tbody>
<tr>
<td>
Company Name
</td>
<td>
Symbol
</td>
<td>
May Dollar Volume
</td>
</tr>
<tr>
<td>
Roche Holding Ltd.
</td>
<td>
<a href="http://www.otcmarkets.com/stock/RHHBY/quote">RHHBY</a>
</td>
<td>
$3,108,072,993
</td>
</tr>
<tr>
<td>
Grayscale Bitcoin Trust (BTC)
</td>
<td>
<a href="http://www.otcmarkets.com/stock/GBTC/quote">GBTC</a>
</td>
<td>
$2,355,521,125
</td>
</tr>
<tr>
<td>
Grayscale Ethereum Trust (ETH)
</td>
<td>
<a href="http://www.otcmarkets.com/stock/ETHE/quote">ETHE</a>
</td>
<td>
$1,268,944,348
</td>
</tr>
<tr>
<td>
adidas AG
</td>
<td>
<a href="http://www.otcmarkets.com/stock/ADDYY/quote">ADDYY</a>
</td>
<td>
$263,956,485
</td>
</tr>
<tr>
<td>
Infineon Technologies AG
</td>
<td>
<a href="http://www.otcmarkets.com/stock/IFNNY/quote">IFNNY</a>
</td>
<td>
$263,007,230
</td>
</tr>
<tr>
<td>
BNP Paribas
</td>
<td>
<a href="http://www.otcmarkets.com/stock/BNPQY/quote">BNPQY</a>
</td>
<td>
$249,566,004
</td>
</tr>
<tr>
<td>
AXA
</td>
<td>
<a href="https://www.otcmarkets.com/stock/AXAHY/quote">AXAHY</a>
</td>
<td>
$149,918,793
</td>
</tr>
<tr>
<td>
Anglo American PLC
</td>
<td>
<a href="https://www.otcmarkets.com/stock/NGLOY/quote">NGLOY</a>
</td>
<td>
$146,459,165
</td>
</tr>
<tr>
<td>
Sprott Physical Uranium Trust
</td>
<td>
<a href="https://www.otcmarkets.com/stock/SRUUF/quote">SRUFF</a>
</td>
<td>
$131,536,526
</td>
</tr>
<tr>
<td>
Danone
</td>
<td>
<a href="https://www.otcmarkets.com/stock/DANOY/quote">DANOY</a>
</td>
<td>
$120,553,811
</td>
</tr>
</tbody>
</table>
&nbsp;
OTCQB Top 10:&nbsp;
<table>
<tbody>
<tr>
<td>
Company Name
</td>
<td>
Symbol
</td>
<td>
May Dollar Volume
</td>
</tr>
<tr>
<td>
Northwest Biotherapeutics Inc.
</td>
<td>
<a href="http://www.otcmarkets.com/stock/NWBO/quote">NWBO</a>
</td>
<td>
$210,569,559
</td>
</tr>
<tr>
<td>
Sysorex Inc.
</td>
<td>
<a href="https://www.otcmarkets.com/stock/SYSX/quote">SYSX</a>
</td>
<td>
$73,359,234
</td>
</tr>
<tr>
<td>
Netlist Inc.
</td>
<td>
<a href="http://www.otcmarkets.com/stock/NLST/quote">NLST</a>
</td>
<td>
$69,472,655
</td>
</tr>
<tr>
<td>
American Battery Technology Co.
</td>
<td>
<a href="http://www.otcmarkets.com/stock/ABML/quote">ABML</a>
</td>
<td>
$25,739,135
</td>
</tr>
<tr>
<td>
Fannie Mae
</td>
<td>
<a href="http://www.otcmarkets.com/stock/FNMA/quote">FNMA</a>
</td>
<td>
$21,734,158
</td>
</tr>
<tr>
<td>
Lake Resources N.L.
</td>
<td>
<a href="http://www.otcmarkets.com/stock/LLKKF/quote">LLKKF</a>
</td>
<td>
$19,288,365
</td>
</tr>
<tr>
<td>
American Lithium Corp.
</td>
<td>
<a href="http://www.otcmarkets.com/stock/LIACF/quote">LIACF</a>
</td>
<td>
$15,729,513
</td>
</tr>
<tr>
<td>
HUMBL Inc.
</td>
<td>
<a href="http://www.otcmarkets.com/stock/HMBL/quote">HMBL</a>
</td>
<td>
$12,860,334
</td>
</tr>
<tr>
<td>
Freddie Mac
</td>
<td>
<a href="https://www.otcmarkets.com/stock/FMCC/quote">FMCC</a>
</td>
<td>
$11,018,144
</td>
</tr>
<tr>
<td>
Phoenix Rising Cos.
</td>
<td>
<a href="https://www.otcmarkets.com/stock/PRCX/quote">PRCX</a>
</td>
<td>
$10,909,584
</td>
</tr>
</tbody>
</table>
&nbsp;
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.
Photo by Kyle Glen on <a href="https://unsplash.com/photos/nXt5HtLmlgE">Unsplash</a>

Small Cap

ADDYY

AXAHY

BNPQY

CWGL

DANOY

DEFTF

ETHE

EXPGY

FMCC

GBTC

IFNNY

NHYDY

NLST

NWBO

Fidelity NASDAQmposite Index Fund ETF-Tracking NASDAQmposite Index

ONEQ

OTCM

PRCX

RDSMY

RHHBY

SRUUF

SYSX

The OTC Markets' Most-Active Securities Embrace International Operators As Volatility Envelops Markets In May

The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga.
The COVID-19 pandemic brought about unprecedented macroeconomic challenges and greatly impacted the business operations and financial performance of domestic and international companies.
During Q1 2020, increased market volatility resulted in an immediate decline in global markets which was soon followed by a rebound in performance during the latter half of the year.
Companies quickly learned to adapt their investor relations strategies to reinvent the way in which they conducted business &mdash; exploring alternative communication channels and seeking more efficient ways to maintain shareholder value in the wake of uncertainty and market volatility.
<h3>Adding Value To Shareholders</h3>
Increasing shareholder value is a universal goal and top priority for investor relations teams.
In the paper, &ldquo;<a href="https://www.otcmarkets.com/files/OTCQX_Investor_Relations_Key_in_a_Pandemic.pdf" target="_blank">OTCQX: Investor Relations Key In a Pandemic</a>,&rdquo; OTC Markets and Oxford Metrica studied the quantifiable impact of an international company&rsquo;s shareholder value after joining the OTCQX Market. Data showed that, on average, 128 basis points of value were created for shareholders 80 days after joining OTCQX.&nbsp;
It was hypothesized that the rise in value may be a result of the increased transparency, disclosure requirements, and corporate governance practices required by OTCQX. Combined, these factors signal a positive response in the issuer&rsquo;s home market, thus leading to an increase in shareholder value.
Home to 450 international and U.S. companies, OTCQX, the premium trading tier, can provide the tools issuers need to maintain, if not, increase shareholder value during a market crisis. The OTCQX Market provides international companies with a cost-effective platform for investor relations teams to more easily and effectively communicate with U.S. shareholders.&nbsp;
Notable companies traded on OTCQX include Roche Holdings (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/rhhby#OTCQX">RHHBY</a>) (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/rhhbf#OTCQX">RHHBF</a>) (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/rhhvf#OTCQX">RHHVF</a>), Adidas (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/addyy#OTCQX">ADDYY</a>) (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/adddf#OTCQX">ADDDF</a>), Danone (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/danoy#OTCQX">DANOY</a>) (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/gpdnf#OTCQX">GPDNF</a>), Repsol (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/repyy#OTCQX">REPYY</a>) (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/repyf#OTCQX">REPYF</a>), and BNP Paribas (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/bnpqy#OTCQX">BNPQY</a>) (OTCQX: <a class="ticker" href="https://www.benzinga.com/stock/bnpqf#OTCQX">BNPQF</a>).
<h3>Effective Communication With Shareholders</h3>
As a general rule, communication is a key component of any financial relationship. And this rule is just as prevalent when discussing the relationship between management and shareholders, especially during times of economic uncertainty.
The transparency and disclosure inherent in the OTCQX Market gives international companies the ability to provide U.S. shareholders with comprehensive financial and market information on the company. Additionally, through OTC Markets Group&rsquo;s Virtual Investor Conferences, international companies trading on OTCQX have an opportunity to utilize an interactive intermediary online platform to engage with U.S. investors.&nbsp;
Occurring 1-3 times per month, these remote conferences provide international companies with an additional forum and communications channel to address a larger number of U.S. investors.
<h3>Providing An Efficient &amp; Cost-Effective Solution</h3>
OTCQX offers companies a less complex, more efficient, and cost-effective market for an international corporations&rsquo; shares to be traded in the U.S. In comparison to a full listing on a U.S. national exchange, OTCQX offers an annual reduction ranging from $1-$2 million per annum.
Companies are also able to avoid the complex, onerous, and costly U.S. regulatory and exchange requirements of the national exchanges. In comparison, the OTCQX offers an alternative ‒ a premium SEC-recognized established public market that is the right fit to help international companies maintain their U.S. trading position during a crisis.&nbsp;
Photo by <a href="https://unsplash.com/@dylandgillis?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Dylan Gillis</a> on <a href="https://unsplash.com/s/photos/office-meeting?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>
The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

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