Gas Arabian Services Co. (SASE:4146) entered into a long-term agreement with oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, for its in-plant services.
The multi-industry engineering services company will provide its mechanical, piping, instrumentation, communication, painting, and civil and structural services, according to a Wednesday release.
The six-year contract can be extended for two additional periods of three years each.
Deltic Energy (DELT.L) said Wednesday that Petrogas International E&P confirmed it has no intention to make a takeover offer for the natural resources investor.Deltic announced in May that it agreed to a recommended cash acquisition by oil and gas producer Neo Next+ Energy. Prior to the acquisition announcement, Deltic had been in talks with Petrogas and other parties for a potential takeover of the company.
SNB Capital on Tuesday reduced the price target for chemical and polymer manufacturer Saudi Kayan Petrochemical (SASE:2350) to 5.60 Saudi riyals from 6.10 riyals and affirmed its neutral rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
TotalEnergies (TTE.PA, TTE.L) secured approval from the Russian government to offload a 10% stake in its Arctic LNG 2 project located in the country's Gydan Peninsula, Bloomberg News reported Wednesday, citing a presidential order.The approval allows the energy giant to transfer its direct holding in the project, which has been under sanctions due to the Russia-Ukraine war.TotalEnergies did not immediately respond to a request for comment from.(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.)