$PKX

POSCO International, a unit of South Korean steel company POSCO, agreed to buy Chord Energy's non-operated Marcellus assets in northeast Pennsylvania for $550 million. The deal includes 32,000 net acres and production of 121 MMcf/d of dry gas. Chord Energy acquired the assets through its purchase of Enerplus in 2024.

POSCO International is acquiring a stake in a U.S. gas field for 750 billion won, aiming to strengthen its LNG value chain. Samsung Securities initiated coverage with a 80,000 won target price and 'Buy' rating, citing expanded LNG capabilities. The company plans to increase gas and LNG trading volumes by 2031. Shinhan Securities noted potential long-term benefits despite overhang concerns.

Santos has agreed to two non-binding LNG arrangements: one to supply POSCO Steel for ten years starting 2030/2031, and another to purchase 1 mtpa from the Ksi Lisims LNG project in Canada from 2031. The deals aim to expand and diversify Santos' LNG portfolio without increasing upstream capital investment, according to the company.

POSCO International plans to invest $1.4 billion in its US unit to acquire shale assets and may join the $45 billion Alaska LNG project, according to reports. The company is expected to sign an LNG supply agreement with Glenfarne Group, a US company leading the LNG initiative.

Santos has signed two separate LNG agreements, one with POSCO Steel and another with Western LNG. The deals involve the supply of LNG from Santos' Gladstone LNG project in Australia. The agreements are expected to strengthen Santos' position in the LNG market.

POSCO Group Chairman Chang In-hwa proposed strengthening Korea-Australia supply chains, focusing on lithium and energy. The group plans a KRW 29.1 trillion investment over three years, targeting doubled sales and sevenfold operating profit by 2035. It will fund this by selling stakes in subsidiaries, aiming for a 4.2% ROE by 2028. Lithium projects in Argentina turned profitable, while steel sales declined.

POSCO Group completed a 2.5 million-ton electric arc furnace (EAF) at its Gwangyang works, using electricity to melt steel scrap and reduce carbon emissions. The EAF is part of the company's transition to lower-carbon production processes, alongside its HyREX hydrogen reduction technology. Challenges include securing stable electricity supply and managing increased energy costs. POSCO aims to advance resource circularity and support Korea's decarbonization goals.

POSCO E&C has secured KRW 14.3 trillion in cumulative remodeling orders since 2014, with KRW 5.4 trillion in the last three years. The company leads South Korea's apartment remodeling market, using advanced technologies like 3D laser scanning and patented solutions. It plans to focus on high-quality projects in prime locations, aiming to strengthen its market position.

Labor strikes in South Korea's shipbuilding (HD Hyundai Heavy Industries) and steel (POSCO) sectors raise concerns over delivery timelines and future investments. HD Hyundai's union demands higher wages and bonuses, while POSCO faces its first strike in 58 years. Both companies report significant order backlogs and potential earnings impacts, with analysts warning of broader industrial risks.

POSCO's union initiated its first strike since 1968 after wage negotiations failed. The strike affects key production lines and could disrupt supply to major industries. The union demands a 7.1% pay raise and other benefits, while management cites financial constraints. POSCO's operating profit fell 43.3% in the first half of the year. The dispute also involves the direct hiring of subcontracted workers, a contentious issue for the union.