Petroleo Brasileiro S.A. or Petrobras (PBR Quick QuotePBR ) recently announced that it completed the non-binding phase of the sale of its full 27.88% ownership holding in Deten Qumica S.A. (Deten) and now began the project’s binding phase. Prospective buyers who qualified for this phase will get a process letter outlining the divestiture process in full including rules for due diligence and the submission of binding offers.
Earlier in June, the company commenced the sale process of its full ownership in the petrochemical company Deten. Per management, the plan was in sync with the energy player’s strategy to reduce expenses and enhance its capital allocation for maximizing shareholder value.
Located in the Camaçari industrial complex in Bahia, Deten petrochemical is the sole national manufacturer of Linear Alkylbenzene (LAB) and involved in manufacturing and selling major raw ingredients used in the production of biodegradable liquid and powder detergents.
Hot Energy Stocks To Buy For 2023: Oasis Petroleum Inc.(OAS)
Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. Its principal projects are located in West Williston and East Nesson. As of December 31, 2015, the company had 484,745 net leasehold acres in the Williston Basin; and approximately 218.2 million barrels of oil equivalent of estimated net proved reserves. It sells its oil and natural gas to refiners, marketers, and other purchasers that have access to pipeline and rail facilities. The company was founded in 2007 and is headquartered in Houston, Texas.
Advisors’ Opinion:
- [By Max Byerly]
Shares of Natural Gas Services Group, Inc. (NYSE:NGS) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $20.41 and last traded at $20.60, with a volume of 302 shares traded. The stock had previously closed at $20.93.
- [By Joseph Griffin]
Natural Gas Services Group, Inc. Common Stock (NYSE:NGS) CEO Stephen Charles Taylor sold 1,306 shares of Natural Gas Services Group, Inc. Common Stock stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $22.51, for a total value of $29,398.06. Following the completion of the transaction, the chief executive officer now directly owns 319,982 shares of the company’s stock, valued at approximately $7,202,794.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
- [By Joseph Griffin]
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Hot Energy Stocks To Buy For 2023: Sunoco LP(SUN)
Sunoco LP engages in the wholesale distribution and retail sale of motor fuels primarily in Texas, New Mexico, Oklahoma, Louisiana, Kansas, Maryland, Virginia, Tennessee, Georgia, and Hawaii. It operates through two segments, Wholesale and Retail. It serves convenience stores and consignment locations, contracted independent convenience store operators, and other commercial customers. The company also distributes other petroleum products, such as propane and lubricating oils; and leases or subleases real estate properties used in the retail distribution of motor fuels. As of December 31, 2014, it operated 155 convenience stores and fuel outlets offering merchandise, food service, motor fuel, and other services in 5 states. Sunoco GP LLC serves as the general partner of the company. The company was formerly known as Susser Petroleum Partners LP and changed its name to Sunoco LP in October 2014. Sunoco LP is based in Houston, Texas.
