Special Report: Tensions Flare in the Middle East JUNE 16, 2025
The recent escalation of tensions in the Middle East between Israel and Iran has driven crude oil prices higher due to concerns over potential...
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Industry Update - Energy (Upstream - Downstream) MARCH 20, 2025
We maintain a Neutral rating on the energy sector, given the lackluster earnings growth outlook for 2025-27E (+4% CAGR) and external risk factors...
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Energy (Upstream-Downstream) - DECEMBER 17, 2024
We reiterate our preference for downstream over upstream players and favor refiners over oil retailers. Our top pick remains BCP (Outperform; FV at...
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Industry Update: Energy (Oil) - SEPTEMBER 30, 2024
The downward trend in oil prices due to global risks (e.g., increased supply and slower demand amid the unrest in the Middle East) is expected to...
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Industry Update - Energy (Upstream-Downstream)
We maintain a Neutral investment rating on the sector, reflecting weak industry indicators in 2H24E (e.g., oil prices, refining margins, marketing...
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