Oil & Gas Storage & Transportation

Schneider Electric SE agreed to acquire U.S.-based engineering software developer PTC Inc. for $22.6 billion, or €20.1 billion, paying $205 per share in an all-cash deal. The transaction was among a string of major deals reported across sectors this week. Viatris said it will acquire all outstanding shares of Pacira BioSciences for $36.50 per share in cash, an aggregate equity value of $1.65 billion, while CD&R and McKesson agreed to acquire Option Care Health for $32.05 per share, valuing it at approximately $5.8 billion including debt, sending its shares up 34% in early trading Tuesday. Energy Transfer agreed to acquire Vaquero Midstream in a $2.625 billion deal consisting of $1.95 billion in cash and about 33.3 million newly issued Energy Transfer common units, and Cenovus Energy agreed to acquire Athabasca Oil in a cash-and-stock deal valued at about C$5.7 billion, a 14% premium to Athabasca's 20-day volume-weighted average trading price. Canadian utilities Emera and Canadian Utilities agreed to an all-stock merger worth C$14.3 billion, or US$10 billion, creating a combined company with a C$72 billion enterprise value and a regulated rate base of C$45 billion serving roughly 6 million customers. Separately, TKO LLC proposed to acquire Service Properties Trust's entire hospitality portfolio for $2.0 billion, and CCC Intelligent Solutions soared 13% in after-hours trading on a report that GTCR and Elliott Investment Management are in advanced discussions to purchase the car-insurance software firm.

ClearBridge Investments' Dividend Strategy added Kinder Morgan, Inc. to its portfolio during the third quarter of 2026, citing the energy infrastructure company's sizable dividend yield, good balance sheet, contracted and recurring revenues and solid growth outlook tied to surging natural gas demand for LNG exports and power. The addition was disclosed in the firm's third-quarter 2026 commentary for its Dividend Strategy, which reported modest gains in the quarter but underperformed the S&P 500, which rose 2.3%, due to mixed stock selection and stock-specific headwinds. Kinder Morgan closed at $32.25 on October 08, 2026, with a $70.86 billion market capitalization, a 17.32% year-to-date gain and a 52-week range of $25.60 to $34.81. According to the firm's database, 60 hedge fund portfolios held Kinder Morgan at the end of the second quarter, compared to 62 in the previous quarter.

Oil companies announced four separate transactions in four trading days as Brent crude held above $100 a barrel, with the U.S. Energy Information Administration now expecting Brent to average $96.32 a barrel in 2026 and $83.74 in 2027, up from $91.01 and $73.74 a month ago in its October Short-Term Energy Outlook. The EIA said Brent averaged $114 a barrel in September, $23 higher than in August, and touched a daily high of $131 on September 15 after attacks on Saudi Arabia's East-West pipeline temporarily halted flows on a route that bypasses the Strait of Hormuz, and it assumes Middle East oil flows stay constrained through the fourth quarter with shut-ins averaging 4.5 million barrels per day. Cenovus Energy agreed on October 5 to acquire Athabasca Oil Corporation for C$12.00 per Athabasca share, payable in cash, Cenovus shares or a combination, for an implied enterprise value of C$5.7 billion, adding about 45,000 barrels of oil equivalent per day and expected to generate about $85 million a year in synergies. Energy Transfer agreed on October 6 to acquire Vaquero Midstream for about $2.6 billion, made up of $1.95 billion in cash and about 33.3 million newly issued Energy Transfer common units, adding roughly 300 miles of pipeline in Texas and the Caymus Processing Complex with about 675 million cubic feet per day of capacity. Chevron subsidiaries signed definitive agreements on October 6 with Hess Midstream to extend Bakken midstream terms, expecting to cut Bakken unit midstream costs by about 50%, divest its Hess Midstream interests and transfer DJ Basin crude oil midstream assets for $200 million in cash, and fully deconsolidate Hess Midstream including about $3.7 billion of its debt. Crescent Energy agreed on October 8 to acquire Devon Energy's Eagle Ford assets for an estimated net purchase price of about $3.85 billion after adjustments, adding about 68,000 barrels of oil equivalent per day of net production and more than 600 Tier 1 net locations, and launched a $1 billion offering of Class A common stock the same day. Shell issued its third quarter 2026 update note on October 7, pointing to an indicative refining margin of $42 a barrel, up from $24 in the second quarter, with Integrated Gas production expected at 740,000 to 780,000 barrels of oil equivalent per day and third quarter results scheduled for October 29.

Cmb.Tech NV declared an interim dividend of $0.64 per share. The dividend is payable Oct. 22 to shareholders of record as of Oct. 16, with the ex-dividend date also set for Oct. 16. The declaration follows the company's special general meeting results.

Kinder Morgan said Thursday it lifted the force majeure on its Tennessee Gas Pipeline after repairs restored natural gas shipments to Mexico that had been interrupted earlier in the week. Tennessee Gas resolved problems identified on October 5 that forced the company to isolate and shut some sections of pipe, including the Rio Bravo and Cenagas delivery meters, and the company declared force majeure the following day. Mexico is the largest buyer of U.S. pipeline gas, with about 75% of the country's gas coming from Texas, and American pipeline exports to Mexico have surged to about 8 Bcf/day from about 1 Bcf/day in 2010, according to BloombergNEF data. Mexico lacks large-scale underground storage comparable to the U.S., leaving its power sector heavily dependent on continuous pipeline deliveries from the north, and in the event of outages Mexico has only about three days of gas supplies in reserves, according to Cuitlahuac Garcia, director of Mexican pipeline operator Cenagas.

TRIS Rating Co., Ltd. has assigned an corporate credit rating of BBB to WP Energy Public Company Limited, or WP, with a Stable rating outlook. Ms. Chomkamol Poompanmuang, Chief Executive Officer, stated that the rating reflects confidence in the company's business potential, particularly its liquefied petroleum gas, or LPG, distribution base and its ability to support future investment plans. TRIS Rating noted that WP's profitability remains stable thanks to the regulated LPG pricing structure, cost control, and a shift in customer mix toward higher-margin segments, while expansion into solar energy will help diversify revenue. WP currently has total installed capacity of approximately 13.7 megawatts under long-term contracts. TRIS Rating expects WP's EBITDA during 2026-2028 to be approximately 600-650 million baht per year, and its EBITDA margin to gradually improve to around 3.7-3.8% from 3.5% in 2025 under the base-case assumption. The company plans total capital expenditure of approximately 1.85 billion baht, comprising 810 million baht for maintenance of the LPG business, 500 million baht for solar projects under private PPA contracts, and a budget of 540 million baht for potential acquisitions or investments. It has set its dividend payout ratio at approximately 100% of annual net profit and expects its net financial debt to EBITDA ratio to remain below 1.0 times throughout the forecast period. Seeking a credit rating is one of the key initiatives under the company's value-enhancement plan, the JUMP+ Plan, to prepare for future fundraising through the bond market and other funding sources.

TRIS Rating Co., Ltd. has assigned an corporate credit rating of BBB with a Stable outlook to WP Energy Public Company Limited, or WP, according to disclosure by Ms. Chomkamol Poompanmuang, Chief Executive Officer, who stated that the rating reflects a strong capital base, profitability, and stable operating cash flow. TRIS Rating noted that profitability remains stable thanks to regulated LPG prices, cost control, improved procurement efficiency, and a shift in the customer mix toward higher-margin segments. Meanwhile, the rooftop solar business has total installed capacity of approximately 13.7 megawatts and long-term contracts that generate continuous revenue from electricity sales. TRIS Rating expects the company's EBITDA to be approximately 600 to 650 million baht per year during 2026 to 2028, with the EBITDA margin gradually improving to around 3.7% to 3.8% from 3.5% in 2025. Under the base-case assumptions for 2026 to 2028, the company has total investment of 1.85 billion baht, comprising 810 million baht for maintenance investment in the LPG business, 500 million baht for investment in solar power projects under private PPA contracts, and a budget of 540 million baht for potential acquisitions or investments. At the same time, the dividend payout ratio is set at approximately 100% of annual net profit, and the ratio of net financial debt to EBITDA is expected to remain below 1.0 times throughout the forecast period. Participating in a credit rating from TRIS Rating is one part of the company's value-enhancement plan, or JUMP+ Plan, which will help raise its image of financial stability and prepare it for fundraising in the bond market and other funding sources in the future.

TRIS Rating Co., Ltd. has assigned a corporate credit rating to WP Energy Public Company Limited, or WP, at BBB with a Stable outlook. Ms. Chomkamol Poompanmuang, Chief Executive Officer of WP, said the rating reflects the company's strong capital base, profitability, and stable operating cash flow, particularly its role as a distributor of liquefied petroleum gas, or LPG, in Thailand. TRIS Rating expects the company's EBITDA to be approximately 600 to 650 million baht per year during 2026 to 2028, with the EBITDA margin gradually improving to around 3.7% to 3.8% from 3.5% in 2025. Under the base-case assumption, the company has total investments of 1.85 billion baht, comprising 810 million baht for maintenance of the LPG business, 500 million baht for solar power projects under private PPA contracts, and a budget of 540 million baht for potential acquisitions or investments. Its rooftop solar business has total installed capacity of approximately 13.7 megawatts, and the company has set a dividend payout ratio of approximately 100% of annual net profit. TRIS Rating expects the net financial debt to EBITDA ratio to remain below 1.0 times throughout the projection period. Participating in the credit rating by TRIS Rating is one part of the company's value-enhancement plan, or JUMP+ Plan, aimed at raising its image of financial stability and preparing for entry into the bond market in the future.

Tris Rating Company Limited has assigned an corporate rating to WP Energy Public Company Limited, or WP, at BBB with a Stable outlook. Ms. Chomkamol Poompanmuang, Chief Executive Officer, stated that this rating reflects the company's strong capital base, profitability, and stable operating cash flow, particularly its role as a distributor of liquefied petroleum gas, or LPG, in Thailand. Tris Rating expects the company's EBITDA to be approximately 600 to 650 million baht per year during 2026 to 2028, with the EBITDA margin gradually improving to around 3.7% to 3.8% from 3.5% in 2025. Under the base case assumption, the company has total investments of 1.85 billion baht, comprising 810 million baht for maintenance of the LPG business, 500 million baht for solar energy projects under private PPA contracts, and a budget of 540 million baht for potential acquisitions or investments. The rooftop solar business has a total installed capacity of approximately 13.7 megawatts, and the ratio of net financial debt to EBITDA is expected to remain below 1.0 times throughout the forecast period.

NextNRG said Wednesday it amended its Series C convertible non-voting preferred stock to remove the holder's optional redemption right and expects to reclassify nearly $9M of the stock issued at the initial closing to stockholders' equity. Under the original agreement, the company agreed to issue and sell up to 3M shares of Series C preferred stock for an aggregate purchase price of $27.2M. At the initial closing on August 13, 2026, the company issued and sold 1M shares, with an aggregate stated value of $10.0M, for $9.2M. Following the amendment, the holder's right to require the company to redeem the Series C preferred stock beginning on the second anniversary of issuance will be removed, and the stock will remain subject to redemption upon certain specified events. The amendment also revises other terms of the Series C preferred stock and the related financing, including conditions for additional closings, requires updated stockholder approval for the transaction as amended, and conforms the terms to the company's anticipated redomestication to Nevada and its recent 1-for-10 reverse stock split. NextNRG said it believes the move will support its plan to regain compliance with Nasdaq's listing requirements.

Pembina Pipeline Corporation announced that the Pacific Link oil pipeline, in which it holds a 10% economic interest during construction, has been designated a Project of National Interest by the Government of Canada under the Building Canada Act. The designation streamlines federal review for Pacific Link, one segment of a large-scale export corridor intended to expand global market access for Canadian crude. Alongside the pipeline news, Pembina declared quarterly dividends on multiple preferred share series payable in late 2026. The company's narrative projects CA$8.9 billion in revenue and CA$2.2 billion in earnings by 2029, requiring 4.0% yearly revenue growth and about CA$0.5 billion in earnings increase from CA$1.7 billion today. Three fair value estimates from the Simply Wall St Community span roughly CA$72.72 to CA$239.41.

Chevron Corporation announced that several of its subsidiaries have entered into definitive agreements with Hess Midstream LP to restructure its Bakken midstream contracts and establish new DJ Basin midstream contracts. Under the deal, Chevron will transfer to Hess Midstream its ownership interests and general partner position in Hess Midstream, as well as its DJ Basin crude oil midstream assets, in exchange for the improved long-term commercial framework and $200 million in cash consideration. The revised agreements extend the Bakken contracts and are expected to reduce Chevron's Bakken unit midstream costs by approximately 50%, enhancing future earnings and return on capital employed. Chevron expects to fully deconsolidate Hess Midstream, including approximately $3.7 billion of Hess Midstream's debt, and expects the transaction to be accretive to return on capital employed by 0.5% on an absolute basis, while recognizing a one-time after-tax loss estimated at approximately $3 to $4 billion at closing. Andy Walz, Chevron's President of Downstream, Midstream and Chemicals, said the transaction resets the commercial framework between the company's upstream and midstream assets in the Bakken and DJ Basins, lowers its Bakken cost structure and positions Hess Midstream to advance as an independent company. The transaction has been approved by the Conflicts Committee of the Board of Directors of the general partner of Hess Midstream and is expected to close by year-end 2026, subject to customary closing conditions and regulatory approvals.

Kinder Morgan holds a positive Earnings ESP of +5.00% ahead of its next quarterly report, a signal that analysts have grown bullish on its near-term earnings potential. The pipeline and storage company has beaten consensus estimates in each of its last two quarters, with an average surprise of 22.84%. In the most recent quarter, Kinder Morgan was expected to post earnings of $0.31 per share but reported $0.37 per share, a surprise of 19.35%. The prior quarter brought a consensus estimate of $0.38 per share against actual earnings of $0.48 per share, a surprise of 26.32%. Combined with its Zacks Rank #3 (Hold), the positive Earnings ESP suggests another beat is possibly around the corner.

The Thai stock market index on October 2, 2026 closed at 1,571.62 points, up 7.71 points or 0.49%, with trading value of 71.09 billion baht. Foreign investment flowed out toward U.S. government bonds, which offer lower risk and yields above 5%, while Thai stocks still await third-quarter 2026 earnings. PTT Oil and Retail Business, or OR, sent positive signals as it prepares for a tourism recovery that is driving growth in jet fuel sales. It has also pinned its flag in Phuket and is pressing ahead with budget hotels, gradually opening them in 2027-2028, with a target of 50 locations by 2031. The first phase will pilot six model hotels in high-potential locations: Phuket, Kanchanaburi, Phra Nakhon Si Ayutthaya, Songkhla (Hat Yai), Chonburi and Bangkok, to extend the business and turn PTT Station service stations into safe, standardized overnight stops nationwide. Meanwhile, ITEL won a big project from the Provincial Electricity Authority, or PEA, to organize communications cables across two regions, the central and southern regions, with a combined value of more than 266 million baht, reflecting confidence in its potential and experience in managing communications infrastructure, and positioning it to pursue future telecommunications infrastructure projects. WP completed its share buyback plan as scheduled, repurchasing the full 15,000,000 shares, or 2.94%, for an investment value of 57.08 million baht. CEO Chomkamol Poompanmoung is confident the move will build investor confidence and lift return on equity and earnings per share, while the company proceeds with this year's business plan, targeting LPG sales of 770,000 tons and focusing on expanding the domestic market alongside its rooftop solar business. BA, Bangkok Airways, is passing on something special to thank passengers on the occasion of winning the World's Best Regional Airline and Best Regional Airline in Asia awards from the SKYTRAX World Airline Awards for the 10th consecutive year, with the Lucky TEN campaign, building on the Thank You for 10 Amazing Years campaign launched last September. It invites passengers to join a draw for the right to buy tickets at a special 90% discount, or pay only 10% of the Web Promo (P-Q Class) fare, on five domestic routes, limited to just 200 entitlements, from October 5-9, 2026 only.

TC Energy Corporation has confirmed that Coastal GasLink Phase 2 will proceed following LNG Canada's expansion decision, nearly doubling capacity along the existing 670-kilometre route in British Columbia through new compressor stations and facility upgrades. Construction on the expansion is expected to start in early 2027, with service targeted for the early 2030s. The company also declared a continued quarterly dividend of C$0.8775 per share, or C$3.51 annualized. TC Energy's narrative projects CA$18.2 billion in revenue and CA$5.3 billion in earnings by 2029, with a fair value estimate of CA$98.78 implying 17% upside to the current price. Two fair value estimates from the Simply Wall St Community span from C$33.89 to C$98.78.

South Bow Corp. raised its 2026 distributable cash flow guidance to about US$665 million after a stronger-than-expected first half, while maintaining a quarterly dividend of US$0.50 per share. The higher guidance follows second-quarter 2026 distributable cash flow of US$175 million, up 4% from the first quarter, and reflects fee-based revenue from the Keystone Pipeline System that currently covers the dividend. The company's narrative projects $2.1 billion in revenue and $458.8 million in earnings by 2029, assuming 1.9% yearly revenue growth and a slight $1.2 million earnings decrease from $460.0 million today, with a CA$51.03 fair value implying 6% upside. Elevated debt levels and interest costs remain the key risk to watch, even as the upgraded cash flow outlook supports the near-term cash flow stability case.

Cheniere Energy is positioned to potentially extend its earnings-beat streak when it reports next on October 29, 2026, according to Zacks Investment Research. The natural gas company has topped estimates in each of its last two quarters, posting $3.02 per share against a $2.89 consensus for a 4.50% surprise, and $4.77 per share against a $3.91 consensus for a 21.99% surprise, an average surprise of 13.25% over that span. Cheniere Energy currently carries a Zacks Earnings ESP of +14.87% alongside a Zacks Rank #3 (Hold), a combination Zacks research shows produces a positive surprise nearly 70% of the time. The Earnings ESP compares the Most Accurate Estimate with the Zacks Consensus Estimate for the quarter, on the premise that analysts revising estimates just before a release hold the latest information.

Kinder Morgan holds a Zacks Rank #3 (Hold), with the consensus estimate for the current quarter at $0.33 per share, up 13.8% year over year and up 0.4% over the last 30 days. The consensus estimate for the current fiscal year stands at $1.56, a year-over-year change of +20% and up 0.5% over the past month, while the next fiscal year's consensus of $1.55 indicates a change of -0.4% and has remained unchanged over the past month. Consensus sales estimates are $4.38 billion for the current quarter, up 5.7% year over year, with $18.34 billion and $18.99 billion projected for the current and next fiscal years, changes of +8.3% and +3.6% respectively. In the last reported quarter, Kinder Morgan posted revenues of $4.48 billion, up 10.8% year over year, and EPS of $0.37 versus $0.28 a year ago, beating the Zacks Consensus Estimate of $4.29 billion by 4.33% on revenue and by 19.35% on EPS. Over the last four quarters the company surpassed consensus EPS estimates three times and topped consensus revenue estimates each time, while its Zacks Value Style Score of D indicates it is trading at a premium to its peers.

WP Energy Public Company Limited, or WP, closed its share buyback programme for financial management on 24 September 2026, repurchasing the full 15,000,000 shares, representing 2.94% of total issued shares, with a total investment value of 57,084,060 baht out of a maximum buyback budget of no more than 63,000,000 baht under the programme approved by the board at its 6/2569 meeting. Ms. Chomkamol Poompanmuang, Chief Executive Officer of WP, said the buyback will help put excess liquidity to productive use and increase shareholder return on equity, or ROE, as well as net profit per share, or EPS. She also stressed that the company continues to press ahead with its 2026 business plan, targeting LPG sales of 770,000 tonnes, focusing on the domestic market across the petrochemical, industrial and household sectors, alongside expanding its solar rooftop business and seeking investment opportunities in alternative energy businesses related to its core operations to support future growth.

WP Energy Public Company Limited, or WP, closed its share buyback programme for financial management on 24 September 2026, repurchasing the full 15,000,000 shares, equivalent to 2.94% of total issued and paid-up shares, for a total investment of 57,084,060 baht, against a maximum budget of 63,000,000 baht approved by the board at its 6/2569 meeting. Chief Executive Officer Chomkamol Poompanmuang said the programme will help put excess liquidity to productive use, raise shareholder return ratios and earnings per share, and build investor confidence in the company's potential and strong business fundamentals. For its 2026 business plan, the company targets LPG gas sales of 770,000 tonnes, focusing on domestic sales across the petrochemical, industrial and household sectors, while continuing to expand its solar rooftop business and seeking opportunities to grow businesses related to its core operations and alternative energy to support future growth.

WP Energy Public Company Limited, or WP, announced the completion of its share buyback programme for financial management on 24 September 2026, having repurchased the full planned amount of 15,000,000 shares, representing 2.94% of total issued and paid-up shares, with a total value of 57.08 million baht. The programme was approved by the company's board of directors at its 6/2026 meeting, with a maximum buyback budget of no more than 63 million baht and a maximum of 15 million shares at a par value of 1 baht per share, running from 1 July to 31 December 2026. Chief Executive Officer Chomkamol Poompanmuang said the buyback will help manage excess liquidity efficiently while raising return on equity, or ROE, and earnings per share, or EPS. For the remainder of 2026, the company targets liquefied petroleum gas, or LPG, sales of 770,000 tonnes, focusing on expanding the domestic market across the petrochemical, industrial and household sectors. At the same time, it continues to expand its Solar Rooftop business and is looking for investment opportunities in businesses related to its core operations and in alternative energy, in order to diversify revenue sources and support future growth.

WP Energy Public Company Limited, or WP, closed its share buyback programme for financial management on 24 September 2026, repurchasing the full 15,000,000 shares, or 2.94% of total issued and paid-up shares, for a total investment of 57,084,060 baht, within the maximum budget of 63,000,000 baht approved by the board at its 6/2026 meeting. The shares have a par value of 1 baht each, and the programme ran from 1 July to 31 December 2026. Chief Executive Officer Chomkamol Poompanmuang said the company is confident the buyback will put excess liquidity to productive use and lift return on equity, or ROE, as well as earnings per share, or EPS, strengthening investor confidence in the business's potential. For the remainder of the year, overall business continues to grow in line with plan, with 2026 LPG sales targeted at 770,000 tonnes, focused mainly on domestic sales across the petrochemical, industrial and household sectors. At the same time, the company is pressing ahead with expanding its solar rooftop business and is looking for opportunities to expand into businesses related to its core operations and alternative energy to support future growth.

WP Energy Public Company Limited (WP) announced the closure of its share repurchase programme for financial management on 24 September 2026, having bought back the full 15,000,000 shares, representing 2.94% of total issued and paid-up shares, with a total investment value of 57,084,060 baht out of a maximum buyback budget of not more than 63,000,000 baht approved by the company's board of directors at its 6/2569 meeting. The shares have a par value of 1 baht per share, and the programme period ran from 1 July to 31 December 2026. Chief Executive Officer Chomkamol Poompanmuang stated that the programme will help put excess liquidity to productive use and increase shareholder return on equity (ROE) and earnings per share (EPS), while building investor confidence in the company's potential and strong business fundamentals. For 2026, the company targets LPG gas sales of 770,000 tonnes, focusing mainly on domestic sales across the petrochemical, industrial, and household sectors. At the same time, it continues to expand its solar rooftop business and is looking for opportunities to expand into businesses related to its core operations and alternative energy to support future growth.

WP has completed its share buyback programme, repurchasing the full 15,000,000 shares, or 2.94% of total shares, for an investment value of 57.08 million baht. CEO Chomkamol Poompanmuang said the buyback will boost investor confidence and lift returns to shareholders and net profit per share, underscoring the strength of the stock's fundamentals. The company is pressing ahead with its 2026 business plan, targeting LPG sales of 770,000 tonnes, with a focus on expanding the domestic market alongside its Solar Rooftop business to support future growth. Meanwhile, PROUD is reaffirming its position as a Luxury Wellness Developer through its luxury detached-home project Waran, Chaengwattana-Ratchaphruek, under the concept Sanctuary of Well-being, complete with a Pet Park designed from an understanding of the behaviour of all living things, including pets that are increasingly cared for as family members. TIPAK, a fully integrated developer and distributor of kraft paper packaging products, is preparing to list on the Stock Exchange of Thailand on 5 October 2026 with an IPO of 143.68 million shares at 1.85 baht per share, representing a P/E ratio of 6.38 times.

TC Energy has confirmed that Coastal GasLink Phase 2 will move ahead after LNG Canada approved its own expansion, tying the pipeline operator more directly to future liquefied natural gas export volumes. The news comes as TC Energy shares have fallen about 12% over the past 90 days and roughly 4% over the past month, even as the company advanced projects including lifting the Mountaineer Xpress force majeure. That pullback sits against a 1-year total shareholder return of about 14% and a 3-year total shareholder return of roughly 131%. TC Energy last closed at CA$82.70, while the most followed narrative assigns a fair value of CA$98.78, framing the stock as 16% undervalued. The current P/E ratio of 23.6x sits above the Canadian Oil and Gas industry at 19.3x and edges past the fair ratio of 23x, though it remains below the direct peer set at around 26.1x earnings.

TC Energy Corporation has announced that Coastal GasLink Phase 2 will proceed after LNG Canada and its joint venture partners reached a positive final investment decision on the expansion of the LNG Canada facility, satisfying the conditions tied to TC Energy's previously approved conditional FID for the project. The existing Coastal GasLink pipeline transports about 2.1 billion cubic feet per day of natural gas, and Phase 2 is expected to nearly double that capacity through new compressor stations and facility upgrades along the existing 670-kilometer route connecting Dawson Creek with the LNG Canada liquefaction facility in Kitimat, British Columbia. Shell plc, through its affiliate Shell Canada Energy, took a final investment decision on the second phase of the LNG Canada project in Kitimat, clearing the way for an expansion that will double the facility's production capacity to 28 million tons per year from 14 million tons. The project will follow an integrated delivery model, with LNG Canada serving as the Phase 2 Execution Manager while Coastal GasLink remains the pipeline's owner, operator and permit holder, a structure designed to limit Coastal GasLink's capital commitments and exposure to construction cost and schedule risks. Construction of Coastal GasLink Phase 2 is expected to begin in early 2027, with the project anticipated to enter service in the early 2030s.

Cheniere Energy's subsidiary Cheniere Marketing has entered into a 22-year LNG sale and purchase agreement with Petrobras, Brazil's largest oil and gas company, for approximately 0.8 million tons per annum of LNG on a free-on-board basis. The deal adds long-duration contracted volumes to Cheniere's portfolio and supports its strategy of expanding brownfield liquefaction capacity at existing facilities. Cheniere chairman, president and chief executive officer Jack Fusco said the agreement reinforces the company's position as a leading global LNG provider while providing additional commercial support and fixed-fee cash flow visibility to underpin further brownfield liquefaction capacity growth. For Petrobras, the 22-year SPA secures long-term supply visibility, while the FOB structure gives the buyer greater flexibility over LNG logistics and transportation. Both Cheniere Energy and Petrobras currently carry a Zacks Rank #3 (Hold).

Cheniere Energy subsidiary Cheniere Marketing has signed a long-term liquefied natural gas sale and purchase agreement with Petrobras covering approximately 0.8 million tonnes per annum on a free-on-board basis for 22 years. The deal was announced by the Houston-based company, which said the volumes will come from its marketing arm. Cheniere Chairman, President and Chief Executive Officer Jack Fusco said the multi-decade agreement reinforces Cheniere's position as a leading global LNG provider and provides additional commercial support and fixed fee cash flow visibility to underpin further brownfield liquefaction capacity growth. Cheniere operates the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with total production capacity of approximately 56 mtpa of LNG in operation and an additional approximately 5 mtpa of expected production capacity under construction.

TC Energy Corporation announced that Coastal GasLink Phase 2 will proceed after LNG Canada and its joint venture participants reached a positive Final Investment Decision on expanding the LNG Canada facility, satisfying conditions tied to TC Energy's previously approved conditional FID. The pipeline currently transports approximately 2.1 Bcf/d of natural gas, and Phase 2 will nearly double that capacity by adding compressor stations and upgrading facilities along the existing 670-kilometre route from Dawson Creek to the LNG Canada liquefaction facility in Kitimat, northern British Columbia. Under commercial agreements announced earlier this year, LNG Canada will lead construction as Phase 2 Execution Manager while CGL remains owner, operator and permit holder, a structure that limits CGL's capital commitments and exposure to construction cost and schedule risks. Construction is expected to begin in early 2027 with anticipated in-service in the early 2030s, and up to 2,100 people are expected to be employed at peak construction across five sites. CGL's legacy includes more than $1.8 billion in contracts awarded to Indigenous and local businesses, more than $13 million invested in local communities, non-profits and sponsorships, and approximately 25,700 full-time-equivalent jobs created in British Columbia.

Uni-Fuels Holdings Limited reported first-half revenue of $197.11 million, up 72.0% year over year. Net income came in at approximately US$1.4 million, compared with approximately US$0.1 million for the six months ended June 30, 2025. EBITDA was approximately US$2.1 million for the six months ended June 30, 2026, compared with approximately US$0.3 million for the six months ended June 30, 2025. The results were disclosed in a company press release.

Truist raised its price target on Targa Resources Corp. to $345 from $312 while reaffirming a Buy rating, citing the company's 20-year fee-based agreement with ExxonMobil for Permian processing and downstream volumes. The new target implies upside of over 19% from current levels and exceeds the stock's all-time high of just under $308. Targa plans three new natural gas processing plants in the Permian Delaware with an aggregate capacity of roughly 825 MMcf/day, plus a 70-mile natural gas pipeline, Bull Run II, supported by take-or-pay commitments, though the plants and pipeline are not expected in service until the first half of 2028. The company now expects full-year 2026 adjusted EBITDA at the top end of its guidance range of $5.7 billion to $5.9 billion, while raising its 2026 growth capital estimate to $5 billion. Targa shares have gained almost 55% since the beginning of 2026, and the stock was held by 54 hedge funds at the end of Q2 2026 with a total investment value of just over $1.7 billion.

TC Energy Corporation announced on September 21 that it agreed to sell Energía Occidente de México, which owns the Guadalajara-Manzanillo pipeline, to affiliates of ESENTIA for a gross purchase price of approximately C$560 million, or US$400 million. Closing is expected in the first half of 2027, subject to customary conditions, regulatory approvals and consents, and management intends to redeploy the capital into growth opportunities across North America. The 313-kilometer pipeline can transport up to 500 million cubic feet of natural gas daily, serving power plants and industrial customers in Colima and Jalisco, and after closing TC Energy will retain a Mexican network of approximately 3,300 kilometers of pipeline and 8.7 billion cubic feet per day of installed transportation capacity. TC Energy did not disclose the asset's standalone annual earnings or cash contribution, leaving investors unable to assess the sale valuation against the income being surrendered. The company reported approximately C$3 billion of new projects sanctioned during the first half of 2026, including the Central Virginia Capacity and Clark expansions representing approximately US$400 million of combined investment and backed by 20-year take-or-pay contracts, though those projects have expected service dates in 2028 and 2030 and would not immediately replace income lost after a first-half 2027 disposal.