$COP

Chevron plans to invest $7 billion in Venezuela over five years, aiming to double oil production to 600,000 bpd. NABEP secured control of oilfields with 65 billion barrels of reserves, planning $100 billion in investments. Chevron and Shell also signed a preliminary agreement for Ghana's South Deepwater Tano block. SOCAR acquired stakes in Comstock Resources' Haynesville shale assets for $1.65 billion. Shell bought into BP-operated prospects in the Gulf of Mexico and Brazil.

Alaska North Slope (ANS) oil production rose 2% in July to 456,311 barrels per day (bpd), up from June and July 2025. Santos' Pikka field saw the largest increase, averaging 22,537 bpd. Santos aims for 80,000 bpd by Q3. Hilcorp's Point Thomson also increased significantly. ConocoPhillips and Hilcorp fields saw declines. Cook Inlet crude production rose 2.3%.

Goldman Sachs identifies attractive dividend-paying energy stocks, including Devon Energy (DVN), Expand Energy, HF Sinclair, and ConocoPhillips (COP), citing their valuation and growth prospects. The State Street Energy Select Sector SPDR ETF (XLE) has gained 45% year to date, outperforming the S&P 500. Devon Energy and ConocoPhillips hit 52-week highs, with price targets suggesting upside. HF Sinclair has rallied 131% year to date, despite CEO and CFO transitions.

PFE, GTLB, and COP stocks reached 52-week highs. PFE rose 1.65% after FDA approval of its updated COVID-19 vaccine and strong Q2 results. GTLB gained 10% on strong Q2 results and price target hikes. COP climbed 0.74% due to rising oil prices from Middle East tensions.

ConocoPhillips (COP) stock has risen 16.5% over the past three months, outperforming the Dow Jones. Its YTD return is 43.8%, with a 52-week gain of 36%. Q2 2026 earnings more than doubled to $3.9 billion, driven by higher oil and gas prices. Analysts rate COP a 'Strong Buy' with a mean target of $146.44.

Goldman Sachs updated its U.S. and European conviction lists for September. In the U.S., Vertex Pharmaceuticals was added, while Interactive Brokers was removed. In Europe, RWE, Adyen, and Talanx were added, with Enel, Wise, Hannover Re, and Zalando removed. Analysts highlighted growth prospects and raised price targets for some companies.

U.S. Venezuelan crude imports rose to 10% of total imports due to Strait of Hormuz disruptions. Venezuelan oil is ideal for Gulf Coast refineries but won't quickly lower gasoline prices. ExxonMobil and ConocoPhillips deem Venezuela 'uninvestable'. Rebuilding output to 3M barrels/day would require 16 years and $185B, per Rystad Energy.

Major U.S. oil companies and asset managers like ExxonMobil, ConocoPhillips, KKR, and Apollo are investing in Canadian energy infrastructure, despite President Trump's rhetoric against Canada. They are avoiding Venezuela, with Exxon calling it 'uninvestable' and Conoco focusing on recouping past investments. Enbridge received a $2.7-billion investment for a B.C. natural gas pipeline expansion, while Imperial Oil plans to spend $2.2-billion on Canadian operations. The U.S. imported $160-billion w

A U.S.-Venezuela oil deal involves 65 billion barrels, with U.S. companies potentially controlling 55% under a 25-year lease. Chevron, Exxon, and ConocoPhillips are named as prospective participants, but infrastructure and legal challenges may delay significant production for years. Venezuela's current output is around 1.2 million barrels per day, down from historical highs.

Iraq's Oil Minister met with BP and ConocoPhillips to discuss oil and gas industry development. They talked about maximizing hydrocarbon resources, optimizing field development, and upgrading extraction technologies. BP's Kirkuk oilfield contract, aiming to increase production from 320,000 to 420,000 barrels per day, was activated. ConocoPhillips agreed to purchase a 42% share in the project, aligning with its conservative investment approach.