BSF Capital on Monday raised its rating for base oil producer Saudi Aramco Base Oil Co (SASE:2223), d/b/a Luberef, to 124 Saudi riyals from 115 riyals, with an unchanged hold rating.
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China Merchants Energy Shipping (SHA:601872) said China Petroleum & Chemical Corp. (SHA:600028, HKG:0386), or Sinopec, trimmed its stake in the company to 12.57% from 13.57%.Sinopec sold 80.7 million shares for about 1.45 billion yuan, according to a Tuesday filing with the Shanghai bourse.
Kimbell Royalty Partners (KRP) closed its acquisition of mineral and royalty interests from Mesa Royalties for $145.9 million in units and cash.The deal was funded with 6.9 million newly issued common units valued at $101.9 million and $44 million in cash, Kimbell said Monday in a statement.The assets span 16 Permian Basin counties and are expected to produce 1,390 barrels of oil equivalent per day over the next 12 months, Kimbell said.
TechnipFMC (FTI) has secured a contract to supply flexible pipe for Azule Energy's Greater PAJ offshore development in Angola, the company said Monday.The company said it will make flexible flowlines and risers to connect wells at depths of nearly 2,000 meters to a new floating production facility.The contract value could range between $75 million and $250 million, according to a statement.