Occidental Petroleum (OXY) has an average rating of overweight and mean price target of $65.87, according to analysts polled by FactSet.
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Fitch maintained its A+ long-term foreign-currency issuer default rating on Saudi Arabia with a stable outlook, according to a July 10 note.The affirmation is based on the country's strong and healthy external balance sheet, its resilient economy and sound banking industry amid geopolitical risks from the US-Iran conflict.Fitch additionally took note of the kingdom's rising government debt and the expected but temporary narrowing of its fiscal deficit in 2026 due to higher oil revenue.
Zenith Energy (ZENA.OL, ZEN.L) signed an agreement to secure an at-the-market equity offering facility worth up to 2 million pounds sterling.The facility will allow the energy production and development company to potentially conduct share sales on the London bourse over the next 12 months, according to a July 10 release.
Arabian Drilling (SASE:2381) said Sunday that it will restart the operations of three offshore rigs that were suspended due to regional developments.The oilfield services company expects to fully resume normal operations of its suspended rigs by the second half of 2026, which will bring its offshore fleet utilization to 100%.