JEDI - 2Q预演、交易、航运、北海、BP、EQT、HTG、GALP

eKatAm Energy Research Jefferies Global Energy Team * I EquityResearchTeam(212) 284-2300 ljefferiesglobalenergy@jefferies.comLloyd Byrne IEquity Analyst(212) 323-7528 Illoyd.byrne@jefferies.comMark Wilson, CEng IEquity Analyst44 (0) 20 7029 8691 I mark.wilson@jefferies.comGiacomo Romeo IEquity Analyst44 (0) 20 7548 47271 giacomo.romeo@jefferies.comAlejandro Anibal Demichelis S I Equity Analyst+34 9194983771 ademichelis@jefferies.comOmar Nokta IEquity Analyst1 (212) 778-8405 /onokta@jefferies.comRuben Dewa, CFA IEquity Analyst+44 (0)20 7029 8262 I rdewa@jefferies.comJamie Franklin, CFA ± IEquity Analyst44 (0) 20 7548 4029 1 jfranklin@jefferies.comEmma Schwartz ^ IEquity Analyst1 (212) 336-7254 l emma.schwartz@jefferies.comJohn Edelman IEquity Analyst(212) 336-7412 1jedelman@jefferies.comKai Ye Loh, ACA, CFA I Equity Associate+44 (0)20 7029 8278 (office) I kloh@jefferies.comRoger Agarwal Il I Equity Analyst+1 (647) 588-5370 I ragarwal4@jefferies.comes 3 - 9 of this report. EnergyEquity ResearchJuly11,2025 JefferiesCompany Valuation/RisksFor Important Disclosure information on companies recommended in this report, please visit our website at https://javatar.bluematrix.com/sellside/Disclosures.action orcall 212.284.2300Analyst Certification:Energy Team, certify that all of the views expressed in this research report accurately reflect my personal views about the subjectcompany(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or viewssubject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations orviews expressed in this research report., Giacomo Romeo, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) ancsubject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations oI, Alejandro Anibal Demichelis, certify that all of the views expressed in this research report accurately reflect my personal views about the subjectcompany(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or viewsviews expressed in this research report, Jamie Franklin, CFA, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies)Emma Schwartz, certify that all of the viessed in this research reporsubject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations oKai Ye Loh, ACA, CFA, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies)or views expressed in this research reportRoger Agarwal, certify thatRegistration of non-US analysts: Mark Wilson, CEng is employed by Jefferies International Limited, a non-US affiliate of Jefferies LLC and is not registered/not be subject to the FINRA Rule 2241 and restrictions on communications with a subject company, public appearances and trading securities held bRegistration of non-US analysts: Giacomo Romeo is employed by Jefferies International Limited, a non-US affiliate of Jefferies LLC and is not registered/Registration of non-US analysts: Alejandro Anibal Demichelis is employed by Jefferies GmbH, a non-US affliate of Jefferies LLC and is not registered/Registration of non-US analysts: Ruben Dewa, CFA is employed by Jefferies International Limited, a non-US affliate of Jefferies LLC and is not registered/not be subject to the FINRA Rule 2241 and restrictions on communications with a subject company, public appearances and trading securities held bya research analyst.Please see important disclosure information on pages 3 -9 of this report I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specificthat no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations oi xpressed inthis researchreportaccurately reflectmy personalviews aboutthesubject security(ies)andsubjecoressed in this research report accurately reflect my personal views about the subject security(ies) ancfirm, and therefore macommunications with a subject company, public appearances and trading securities held by JefferiesRegistration of non-US analysts: Jamie Franklin, CFA is employed by Jefferies International Limited, a non-US affiliate of Jefferies LLC and is not registered/not be subject to the FINRA Rule 2241 and restrictions on communications with a subject company, public appearances and trading securities held byaresearcnanalystRegistration of non-US analysts: Kai Ye Loh, ACA, CFA is employed by Jefferies International Limited, a non-US affiliate of