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AlphaMena Downgrades Petro Rabigh to Reduce, Lifts PT

AlphaMena on Tuesday downgraded oil refining and petrochemical company Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to reduce from add and raised its price target to 15.40 Saudi riyals from 15.00 riyals.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

SASE:2380

Equities28d ago

Goldman Sachs Boosts Adnoc Logistics & Services' PT, Keeps at Buy

Goldman Sachs on Tuesday increased the price target for energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) to 7.50 Emirati dirhams from 6.70 dirhams and affirmed its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ADX:ADNOCLS

Equities28d ago

Market Chatter: Nigeria Reportedly Grants Shell Production-linked Tax Credit for Deepwater Project

Shell (SHEL.L, SHELL.AS) is entitled to receive a tax credit linked to production at the Bonga Southwest Aparo project in Nigeria as part of the African country's push to advance the deepwater project to a final investment decision, Bloomberg News reported Tuesday, citing people familiar with the matter.The energy giant and its partners will reportedly receive a rebate of $11.50 per barrel of crude produced from the project, more than the double the standard rate. The tax relief will run until at least 2029 and will be offered to other producers pursuing new deepwater projects in Nigeria.A spokesperson for Shell Nigeria Exploration and Production Co. toldthat the company continues to progress the deepwater project and will communicate material updates through official channels.(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.)

$SHEL.L$SHELL.AS

Equities28d ago

Metzler Forecasts 'Solid' Q2 Results for Knorr-Bremse; Buy Rating Maintained

Metzler Capital Markets maintained its investment case for Knorr-Bremse (KBX.F), saying it expects the German braking systems manufacturer to report a "solid" second-quarter performance and confirm its full-year 2026 outlook on July 30."We believe that Q2/26e will be another solid quarter, characterized by an order intake of EUR 2,149 m (+2% YoY, -4% QoQ), a book-to-bill ratio >1 in both divisions, sales of EUR 2,047 m (+6% QoQ), an adj. EBIT of EUR 289 m (+11% QoQ), and an expansion of the margin by 70bps QoQ to 14.1%. Moreover, we believe that in Q2/26e KB did not experience any material direct (sales exposure Middle East: Alongside the results, the research firm expects Knorr-Bremse to release a new midterm strategy focused on growth initiatives, even as cost management remains a core priority.Analysts forecast the group will aim for 4% to 5% annual organic sales growth and an adjusted EBIT margin of between 15.5% and 16.0% by 2029 or 2030, driven by anticipated margin expansions within its core divisions.Metzler still rates the stock at buy, with an unchanged price target of 124 euros.

$KBX.F

Equities28d ago

Market Chatter: Shell to Receive Nigeria Tax Incentive for Deepwater Project

Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported Tuesday, citing people familiar with the matter.The report said Shell and its partners will receive a tax rebate of $11.50 per barrel of crude produced, more than double the standard amount, under terms approved by President Bola Tinubu.The incentive will also be available for other producers for new deepwater projects through at least 2029, according to Bloomberg.Shell told Bloomberg it continues to advance the project toward development but declined to comment further.Shell did not immediately respond 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.)

$SHEL

Equities28d ago

Citigroup Adjusts Price Target on Marathon Petroleum to $303 From $257, Maintains Neutral Rating

Marathon Petroleum (MPC) has an average rating of overweight and mean price target of $295.31, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$MPC

Equities28d ago

Citigroup Adjusts Price Target on Valero Energy to $302 From $259, Maintains Neutral Rating

Valero Energy (VLO) has an average rating of overweight and mean price target of $281.41, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$VLO

Equities28d ago

Adnoc Logistics' Crude Tankers Attacked in Strait of Hormuz

Adnoc Logistics & Services (ADX:ADNOCLS) said its crude oil tankers Al Bahyah and Mombasa B were attacked as they passed through the Strait of Hormuz early on Tuesday.The attacks resulted in one death and several injuries, according to a same-day release from the energy maritime logistics company. The vessels suffered significant damage in the attacks. The company said it is working closely with emergency responders and other stakeholders.

ADX:ADNOCLS

Equities28d ago

HSBC Adjusts Price Target on Occidental Petroleum to $68 From $73, Maintains Buy Rating

Occidental Petroleum (OXY) has an average rating of overweight and mean price target of $65.30, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$OXY

Equities28d ago

Stephens Adjusts Price Target on Occidental Petroleum to $69 From $71, Maintains Overweight Rating

$OXY

Equities28d ago

Capital One Adjusts Price Target on Occidental Petroleum to $67 From $68, Maintains Equalweight Rating

$OXY

Equities28d ago

JPMorgan Adjusts Price Target on Occidental Petroleum to $60 From $63, Maintains Neutral Rating

$OXY

Equities28d ago

Riyad Capital Keeps Neutral Rating on Advanced Petrochemical Co After Q2 Results

Riyad Capital maintained its neutral rating for Advanced Petrochemical Co (SASE:2330), with a 24.10 Saudi-riyal price target, after the company posted its second-quarter results.In the second quarter, the propylene and polypropylene products company logged an 18% annual increase in its revenue to 827 million riyals, broadly in line with the research firm's 916 million-riyal estimate, according to a first look note published Monday. Meanwhile, the company posted a net loss of 98 million riyals in the three-month period."Advanced reported a 2Q26 net loss of SAR (98) mln - SAR (78) mln excluding a one-time non-cash depreciation charge of ~SAR 20 mln related to preponed 2027 maintenance, which is roughly in-line with our SAR (71) mln estimate, a swing from net profit both Y/Y and Q/Q, driven by the aforementioned feedstock-led production disruption, a headwind we flagged ahead of results in our 2Q26 equity preview. With observed spreads holding and our medium-term Hormuz scenario unchanged, we await a volume recovery," analysts said.

SASE:2330

Equities28d ago

Sunda Energy Files Petroleum Exploration Permit in New Zealand

Sunda Energy (SNDA.L) filed an application for a new petroleum exploration permit for an offshore area of the Taranaki Basin off the coast of New Zealand's North Island.The permit covers 645 square kilometers, including the Awakino gas condensate field, according to a Tuesday filing from the gas exploration and appraisal company.

$SNDA.L

Equities28d ago

Guideline Geo Secures SEK3 Million Order in Malaysia

Guideline Geo (GGEO.ST) received an order worth 3 million kronor in Malaysia, secured through a government tender alongside its local distribution partner.The geophysical technology company will provide its ground-penetrating radar equipment and its accompanying software suite, according to a Tuesday release.

$GGEO.ST

Equities28d ago

Helium One Global Outlines Increased Uptime, Fill Rates at Pinon Canyon Plant in Colorado, US

Helium One Global (HE1.L) said Tuesday the Pinon Canyon plant within its 50%-owned Galactica-Pegasus helium development project in Colorado, US, has recently seen increased uptime and production fill rates.The development follows the first sale of helium at the plant, concluding the early production commissioning and optimization phase. A second tube trailer is now on site and being filled with helium.Blue Star Helium, the project operator and owner of the remaining 50% interest, plans to drill three new wells for tie-in to the Pinon Canyon plant during the second half of 2026.

$HE1.L

Equities28d ago

RBC Updates Estimates for Ryanair Ahead of Fiscal Q1 Results; Outperform Rating Kept

RBC Capital Markets adjusted its model for Ryanair (RYA.IR), tweaking its earnings forecasts for the Irish budget airline ahead of its fiscal first-quarter results due July 20."We update macro forecasts ahead of 1Q results, and reflect a lower oil price since our last update in May. We firm EBIT and EPS forecasts by ~2-3% on average over FY27E-FY29E (weighted towards FY27E-FY28E)," the research firm said Monday.Additionally, analysts forecast higher fuel unit costs in fiscal 2028, as their 2027 estimates included "protection" from pre-war fuel hedges, leaving their forecasts below market expectations.Against this backdrop, RBC cut its revenue projections for 2028 and 2029, while increasing its forecast for 2027.The stock remains rated at outperform, with an unchanged price target of 29 euros.

$RYA.IR

Equities28d ago

BP Expects to Report $1 Billion in Impairments in Q2

BP's (BP) Q2 results are expected to include post-tax adjusting items relating to impairments of around $1.0 billion."These charges are primarily attributable to transition businesses in the gas & low carbon energy segment and are excluded from underlying replacement cost profit," the company said in a trading statement early Tuesday.Net debt at the end of Q2 is expected to be $22 billion to $23 billion, down from $25.3 billion duiring Q1.Shares of the company traded 1.7% higher in premarket activity.

$BP

Equities28d ago

Angus Energy Names Operations Chief

Angus Energy (ANGS.L) appointed Ross Pearson as its chief operating officer, effective immediately.Pearson previously served as the director of the oil and gas company's wells and subsurface division, according to a Tuesday filing.

$ANGS.L

Equities28d ago

BP Updates Guidance for Sequential Decline in Q2 Reported Upstream Production

BP (BP.L) on Tuesday updated its earlier guidance for a quarterly decline in reported upstream production for the three months ended June 30.In a trading update, the oil company projected second-quarter reported upstream production between 2.17 billion barrels of oil equivalent per day and 2.22 billion boe/d, down from 2.34 billion boe/d in the first three months of 2026.The decline was attributed to seasonal maintenance, mainly in the Gulf of America and the conflict in the Middle East.

$BP.L

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