AlphaMena on Wednesday raised oil refining and petrochemical company Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to add from reduce, while decreasing its price target to 15.30 Saudi riyals from 15.70 riyals.
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Venture Global (VG) signed new binding agreements with German energy company EnBW to supply 820,000 tonnes per annum of US liquefied natural gas over a period of five years beginning in 2026, the LNG producer said late Wednesday.Financial details weren't disclosed.The LNG will be supplied from Venture Global's portfolio, adding to the existing long-term sales and purchase deals between the companies covering 2 million tonnes per annum for 20 years, the company said.
The US, Iran and mediators are in talks over holding the signing of the memorandum of understanding remotely as early as Wednesday, instead of in-person on Friday, Axios reported Wednesday, citing sources familiar with the matter.A diplomat from one of the mediating countries told Axios that discussions to speed up the deal are intended to reopen the Strait of Hormuz sooner, since the parties agreed that the strait's opening and the lifting of the US blockade would only take effect after the formal signing scheduled for Friday.Another source familiar with the matter said Iran demanded that the memorandum's contents not be published until the formal signing, while the diplomatic source said the text is likely to be published on Wednesday.The White House did not immediately respond to' request for a comment.(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.)