
Iraq Agrees on Oil Plan With Kurds in Step Toward Export Deal
The Kurdistan Regional Government will supply Iraq's state oil marketer SOMO with 230,000 barrels a day as part of a deal for Baghdad to release funds for salaries in the northern region, people familiar with the matter said. The transfer of the crude is a crucial element for an agreement between the federal and semi-autonomous administrations to restart exports through a pipeline to Turkey's Mediterranean coast.
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- Yahoo
What to Expect From Coterra Energy's Q2 2025 Earnings Report
Valued at a market cap of $18.6 billion, Coterra Energy Inc. (CTRA) is an independent oil and gas company headquartered in Houston, Texas. It explores, develops, and produces oil, natural gas, and natural gas liquids. The company is expected to announce its fiscal Q2 earnings for 2025 after the market closes on Monday, Aug. 4. Ahead of this event, analysts expect this energy company to report a profit of $0.42 per share, up 20% from $0.35 per share in the year-ago quarter. The company has topped Wall Street's earnings estimates in two of the last four quarters, while missing on two other occasions. In Q1, CTRA's EPS of $0.78 outpaced the forecasted figure by 2.6%. More News from Barchart Nat-Gas Prices Sink on the Outlook for Cooler US Temps and Higher Gas Production Crude Oil Prices Pressured by Concerns of Oversupply Crude Oil Prices Slip on Concerns of a Mounting Global Oil Supply Glut Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! For fiscal 2025, analysts expect Coterra Energy to report a profit of $2.49 per share, up 54.7% from $1.61 per share in fiscal 2024. Furthermore, its EPS is expected to grow 18.1% year-over-year to $2.94 in fiscal 2026. CTRA has declined 13.8% over the past 52 weeks, underperforming both the S&P 500 Index's ($SPX) 14.5% uptick and the Energy Select Sector SPDR Fund's (XLE) 7.9% drop over the same time frame. On May 5, Coterra Energy released mixed Q1 results, and its shares plunged 9.3% in the following trading session. The company's revenue grew 32.9% year-over-year to $1.9 billion, but missed the consensus estimates by 2.1%. Additionally, CTRA lowered its fiscal 2025 capital budget range to $2 billion to $2.3 billion, driven by less oil-directed activity, which might have further dampened investor confidence. However, on the brighter side, its adjusted EPS of $0.80 improved 56.9% from the prior-year quarter, topping Wall Street estimates by 2.6%. Wall Street analysts are highly optimistic about CTRA's stock, with an overall "Strong Buy" rating. Among 23 analysts covering the stock, 16 recommend "Strong Buy," two indicate "Moderate Buy,' and five suggest "Hold.' The mean price target for CTRA is $33.39, implying a 44.6% potential upside from the current levels. On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Yahoo
an hour ago
- Yahoo
Lockheed Martin stock tumble as program losses hit earnings
-- Lockheed Martin Corporation shares fell by more than 8% premarket on Tuesday after the defense contractor reported second-quarter earnings that significantly missed analyst expectations, weighed down by $1.6 billion in program losses. The aerospace giant posted earnings of $1.46 per share for the second quarter, far below the analyst consensus of $6.54. Revenue came in at $18.2 billion, slightly under the consensus estimate of $18.58 billion but up marginally from $18.1 billion in the same quarter last year. The substantial earnings miss was primarily driven by pre-tax losses on programs totaling $1.6 billion, which reduced earnings per share by $5.83. These included a $950 million loss on a classified Aeronautics program, a $570 million loss on the Canadian Maritime Helicopter Program, and a $95 million loss on the Turkish Utility Helicopter Program. "The program charges taken in the quarter – which resulted from our ongoing rigorous monitoring and review processes – are a necessary step as we continue to take action to improve program execution," said Lockheed Martin (NYSE:LMT) Chairman, President and CEO Jim Taiclet. Despite these challenges, the company reaffirmed its 2025 guidance for sales of $73.75-$74.75 billion, in line with the $74.4 billion analyst estimate. However, Lockheed cut its full-year EPS forecast to $21.70-$22.00, well below the previous guidance of $27.00-$27.30 and the analyst estimate of $27.46. Cash flow also weakened significantly, with cash from operations falling to $201 million from $1.9 billion a year earlier, while free cash flow turned negative at $(150) million compared to $1.5 billion in Q2 2024. "Our relentless focus on operational performance combined with our disciplined capital allocation strategy will enable us to deliver value to our shareholders, while providing the advanced solutions that America and its allies need," Taiclet added. Related articles Lockheed Martin stock tumble as program losses hit earnings After soaring 149%, this stock is back in our AI's favor - & already +25% in July Surge of 50% since our AI selection, this chip giant still has great potential Sign in to access your portfolio


Bloomberg
an hour ago
- Bloomberg
Russia's Crude Exports Edge Higher Even as Urals Flows Dwindle
Russia's four-week average crude exports edged higher for a second week even as flows of the country's flagship Urals grade fell back. Seaborne crude cargoes averaged 3.3 million barrels a day in the four weeks to July 20, up by 2% from the revised figure for the prior week, tanker-tracking data compiled by Bloomberg showed. They were again the highest since the period ending June 15.