See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Chevron Corporation (CVX) - free report >>
Exxon Mobil Corporation (XOM) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Chevron Corporation (CVX) - free report >>
Exxon Mobil Corporation (XOM) - free report >>
Image: Bigstock
Energy Majors Queuing Up for Stakes in Qatar's LNG Expansion
Qatar plans to float a tender for firms looking for a stake in its liquefied natural gas (LNG) expansion development, per Reuters. Companies with stakes in LNG terminals of the country and several other energy majors are expressing their interest in the expansion projects, the source added.
Qatar Petroleum, a state-run energy firm of the country, will be looking for firms that are willing to allocate capital for building the fourth LNG train. With this, the production capacity of the country’s LNG will likely be raised from the recent mark of 78 million tonnes per annum (MTPA) to 110 MTPA.
The competition for stakes in the expansion development is expected to intensify since Qatar is among the largest producers and exporters of LNG in the world. Notably, the country is considering expanding its LNG capacities by more than 33% over the next five years.
Reuters added that major energy players like Exxon Mobil Corporation (XOM - Free Report) , Royal Dutch Shell plc , TOTAL S.A. and ConocoPhillips (COP - Free Report) , with positions in the country’s LNG businesses, will likely be placing bids for the expansion projects. Companies without any stake, including Chevron Corporation (CVX - Free Report) , Equinor ASA (EQNR - Free Report) and Eni SpA (E - Free Report) , are reportedly expressing interest as well. Currently, Chevron and Equinor carry a Zacks Rank #5 (Strong Sell), while Eni has a Zacks Rank #4 (Sell).
Qatar Petroleum expects the expansion of LNG facilities to help it meet mounting demand for the environment-friendly fuel across the globe.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>