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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Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported Friday, citing industry sources.Output fell to between 5,000 and 10,000 metric tons on Tuesday from typically 125,000 tons a day, according to the report.Production climbed to around 82,000 metric tons on Wednesday and is expected to be restored gradually within about a week, Reuters said.Chevron told Reuters that a portion of the oilfield experienced "minor operational disruption" on Thursday and that it was restoring production.Chevron 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.)
Former BP (BP) Chair Albert Manifold met with activist investor Elliott Management without directly notifying other board members, Reuters reported Thursday, citing sources familiar with the matter.BP removed Manifold less than eight months into the role over governance and conduct concerns, with some board members viewing his meetings with Elliott as unilateral actions, according to the report.Manifold had notified BP's investor relations team about the meetings, which were expected to be included in regular board updates, Reuters added.BP did not immediately reply to' request for comment.(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.)