Kepler Cheuvreux on Monday increased its price target for oil tanker shipping company Frontline Plc (FRO.OL) to 191 Norwegian kroner from 180 kroner, while maintaining its reduce rating.
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Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, agreed to transfer its stake in two joint venture companies to Malaysia's Petroliam Nasional, or Petronas.Following the transfer, Petronas will own 100% of Pengerang Refining Co. and Pengerang Petrochemical Co., both located in the Pengerang Integrated Complex in Johor, Malaysia, according to a Monday release.The companies plan to continue exploring commercial arrangements, including coordinated crude oil supply, technology exchange and integrated product distribution.
FAB Securities maintained its investment opinion on Adnoc Gas (ADX:ADNOCGAS) as it took note of the natural gas distribution company's first-quarter earnings."We maintain our BUY rating on ADNOCGAS with a target price of AED 4.30. ADNOC Gas delivered a resilient operational and financial performance in 1Q26, despite a challenging geopolitical backdrop that disrupted regional trade activity and export operations," analysts said in a Monday note. "The temporary closure of the Strait of Hormuz during March 2026 materially impacted LNG, LPG and Naphtha exports, resulting in lower sales volumes and softer earnings during the quarter. However, the Company continued to benefit from its integrated infrastructure, operational flexibility and resilient domestic gas business," FAB added.The Abu Dhabi-listed company logged a 15% year-over-year decline in first-quarter net profit to $1.08 billion, surpassing the research firm's $1.01 billion estimate. Adnoc Gas' net revenue decreased 13.6% annually to $4.03 billion, compared with FAB Securities' $4.06 billion forecast.