UBS on Wednesday lowered petrochemicals company Borouge (ADX:BOROUGE) to neutral from buy and decreased its price target to 2.45 Emirati dirhams from 2.65 dirhams.
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China Qinfa (HKG:0866) expects to record a profit after taxation of no more than 290 million yuan for the first half of 2026, compared with 31 million yuan of post-tax profit from continuing operations a year earlier, according to a Tuesday filing with the Hong Kong Exchange.The expected increase was mainly driven by higher average coal selling prices, increased raw coal and washed coal production, a decrease in foreign exchange losses, and a gain from changes in provisions.Shares of the coal company were up nearly 4% in morning trade on Wednesday.
TechnipFMC (FTI) won a contract valued at $75 million to $250 million to supply flexible flowlines and risers for Azule Energy's West Hub Tails project offshore Angola.The award will be included in Q3 inbound orders, TechnipFMC said Tuesday in a statement.TechnipFMC will design and manufacture flowlines, risers, and associated equipment to accommodate production from the West Hub area for consolidation into the Agogo floating production, storage, and offloading vessel.Azule is a joint venture between BP (BP) and Eni (E).
Smart Sand (SND) reported Q2 earnings late Tuesday of $0.25 per diluted share, down from $0.54 a year earlier.Revenue for the quarter ended June 30 was $115.1 million, up from $85.8 million a year earlier.FactSet estimates were not available.Also, the company said its board approved in August the transition of the role of chief financial officer from Lee Beckelman to James Young, starting Jan. 1, 2027.