Morgan Stanley on Thursday decreased the price target for gasoline service station operator Aldrees Petroleum and Transport Services (SASE:4200) to 135.00 Saudi riyals from 140.50 riyals and affirmed its equal weight rating.
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Mitsui Seeks LNG Investments to Meet Rising Data Center Power Demand
Mitsui & Co. is seeking investment opportunities in liquefied natural gas projects across the Middle East, the US and Australia as growing demand from data centers boosts power consumption, Bloomberg reported Thursday.Chief Executive Kenichi Hori told Bloomberg the Japanese trading house is considering both equity investments and LNG offtake agreements as part of its expansion strategy.Hori said companies building artificial intelligence infrastructure are creating significant additional demand for LNG, according to the report.Bloomberg reported Mitsui is evaluating new energy investments under its latest mid-term strategy and may increase leverage to fund growth, citing its strong balance sheet.
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US Total Weekly EIA Crude Oil Stocks Fall by 12.4 Million Barrels After Prior 17.8 Million Decrease
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