Arcius Energy Takes Off: BP And XRG's Gas Power Play In Egypt
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 16 2024
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Source: Benzinga
Joint Venture Formation: BP has completed the formation of a new joint venture, Arcius Energy, which is 51% owned by BP and 49% by XRG, ADNOC's investment company, aimed at developing a competitive gas portfolio initially in Egypt.
Strategic Partnership Goals: The partnership seeks to leverage both companies' expertise for international growth in natural gas, aligning with objectives to transform energy systems and meet rising global demand for cleaner energy solutions.
Analyst Views on AVIV
Wall Street analysts forecast AVIV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AVIV is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 74.340
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Current: 74.340
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
