ConocoPhillips (COP) has an average rating of overweight and mean price target of $142.12, according to analysts polled by FactSet.
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Abu Dhabi National Oil Co., d/b/a Adnoc, was ordered to fast-track the delivery of its West-East Pipeline project in the United Arab Emirates to double its export capacity through Fujairah, according to a Friday release.The decision follows a meeting of the Adnoc board's executive committee, chaired by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, who noted the state-backed oil group's "strong progress" in delivering key growth projects and said the company is "well positioned" as a reliable global energy producer.The pipeline is set to start up in 2027.
The United Arab Emirates will accelerate its plan to complete construction of the West-East Pipeline project by 2027, doubling the export capacity of state-owned Abu Dhabi National Oil Company via Fujairah, the Abu Dhabi Media Office said Friday.The Abu Dhabi National Oil Company has the operational flexibility to increase production to meet market needs when export constraints allow, Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed said, according to the statement.