AlphaValue/Baader Europe on Friday downgraded Dutch offshore floating production company SBM Offshore (SBMO.AS) to reduce from add and increased its price target to 37.50 euros from 37.40 euros.
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XRG, the international energy investment company of Abu Dhabi National Oil Co., d/b/a Adnoc, marked its entry into Venezuela through an exploration and production license for phase 2 of the Loran field in partnership with BP (BP.L) and UCC Oil and Gas Holding.Each party will hold equal interest in the development in the Plataforma Deltana area, which covers 4 trillion cubic feet of recoverable gas resources, according to separate Thursday releases. The Bolivarian Republic of Venezuela awarded the license.The transaction involved the transfer of interest from Venezuela's state-owned petroleum company Petróleos de Venezuela's PDVSA Gas subsidiary. XRG said its participation in the project is subject to conditions, including the approval of relevant regulators.
China Merchants Energy Shipping (SHA:601872) unit Shenzhen Ro-Ro publicly sold one Ro-Ro vessel to Shanhai Yuanhang for 285.8 million yuan.The transaction is expected to generate about 230 million yuan in asset disposal gains for Shenzhen Ro-Ro, according to a Friday filing with the Shanghai bourse.Shares of the fleet operator were down 1% in recent trade.
BP (BP.L) is "unaffected at present" by the explosion at the port of Rotterdam in the Netherlands, a spokesperson for the oil and gas giant said in a Thursday emailed statement to.The blast, which occurred earlier in the day, left several people injured and resulted in at least one death, the Associated Press reported, citing city police.The incident took place in an industrial section of the port, at a refinery and fuel terminal run by Gunvor Energy, according to the report.