Saudi Aramco plans takeover of BP Castrol
Saudi Aramco $2222 has big plans and is currently considering taking over the lubricants business of BP, known as Castrol. According to a report by the news agency Bloomberg, the considerations for a merger with its own lubricant subsidiary Valvoline could still be in the early stages. Aramco is particularly interested in expanding into fast-growing markets such as India, where demand for high-quality lubricants is increasing rapidly. Representatives of both companies are keeping a low profile regarding this speculation and declined to comment. On the London trading floor on Thursday, BP shares were up 0.66 percent at 4.11 pounds, while Aramco shares were down a small 0.98 percent at 101.00 Saudi riyals. The acquisition could represent a strategic expansion for Aramco to further increase its market share in the global lubricants business.
NIO stock shows signs of life in EV market
Over the past few years, NIO shares have $9866 (-3,38%) experienced an exciting rollercoaster ride. While the Chinese electric car manufacturer is showing signs of recovery, it continues to face stiff competition from industry giants such as Tesla and BYD. After a dramatic fall that pushed the share price down from USD 9.07 to USD 3.61, the share price has recently stabilized at around USD 4.35. The current delivery figures for 2024 offer hope: with 221,970 vehicles delivered, the company has recorded an increase of 39% compared to the previous year. Nevertheless, profitability remains a challenge. The loss of CNY 2.50 per share did not meet expectations, dividing analysts into two camps. Out of a total of six ratings, only two recommend a buy, while the average price target is USD 5.25. The coming months could be crucial for NIO to gain a foothold in the competitive electric vehicle market.
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