AlphaMena on Thursday lowered its price target for Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to 15.70 Saudi riyals from 16.30 riyals, while maintaining a reduce rating.
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Borouge (ADX:BOROUGE) appointed Siegfried Wengler as its new chief financial officer to succeed Jan-Martin Nufer, effective July 1.The petrochemicals company also appointed Salem Al Busaeedi as its chief operating officer with immediate effect, according to a Wednesday release.
President Donald Trump is set to announce $500 million in federal funding to support domestic coal-fired power plants and a coal export terminal, invoking the 1950 Defense Production Act, Bloomberg reported Wednesday, citing a White House official.The plan includes $425 million for 13 existing coal plants and separate Energy Department grants for two new plants in Alaska and West Virginia, Bloomberg said.An additional $75 million would support the proposed West Gateway export terminal in Oakland, California, which could ship up to 12 million tons of coal annually, the report said.Beneficiaries include Duke Energy (DUK), Hallador Energy (HNRG), Oklahoma Gas & Electric, and a subsidiary of American Electric Power (AEP), according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
NextNRG's (NXXT) selling stockholder plans to sell up to 10 million shares of common stock, originally acquired through a private placement on May 25, the company said in a late Wednesday filing.The company will not sell any shares or receive any proceeds from the offering.