Markets
News
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
No matching data
Latest Views
Latest Views
Trending Topics
To quickly learn market dynamics and follow market focuses in 15 min.
In the world of mankind, there will not be a statement without any position, nor a remark without any purpose.
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
Top Columnists
Enjoy exciting activities, right here at FastBull.
The latest breaking news and the global financial events.
I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.
BeingTrader chief Trading Coach & Speaker, 8+ years of experience in the forex market trading mainly XAUUSD, EUR/USD, GBP/USD, USD/JPY, and Crude Oil. A confident trader and analyst who aims to explore various opportunities and guide investors in the market. As an analyst I am looking to enhance the trader’s experience by supporting them with sufficient data and signals.
Latest Update
Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
View All
No data
Not Logged In
Log in to access more features
FastBull Membership
Not yet
Purchase
Log In
Sign Up
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
Vallourec SA VLOWY, a French tubular solutions provider, has announced that it will acquire 100% shares of Thermotite do Brasil, a subsidiary of Mattr, for $17.5 million. Thermotite specializes in providing thermal insulation coating for pipes used in the offshore oil and gas industry.
The acquisition price is contingent upon customary price adjustments, including working capital. The transaction is expected to take place on a cash-free and debt-free basis, which means no cash or debt will be included at the time of the deal’s closure. However, it is subject to customary closing conditions, including regulatory approvals.
Thermotite has its facility within Vallourec’s coating services site in Serra, Esperito Santo State. The acquisition also supports the company’s broader business strategy. It should solidify VLOWY’s position within the oil and gas industry and expand its presence in the industry value chain.
Integrating Thermotite’s facilities into Vallourec’s portfolio should provide the latter with an integrated setup that will likely increase its operational efficiency. Moreover, the acquisition should provide Vallourec with valuable technical expertise, particularly in offshore and deepwater markets.
Vallourec’s Strategy
The acquisition aligns with the company’s strategy to provide integrated solutions for complex offshore projects. By incorporating Thermotite’s expertise in coating solutions, Vallourec should be able to enhance its existing portfolio of anti-corrosion coatings for pipes.
VLOWY also highlights that the acquisition should enable it to offer better, more customized pipeline solutions to its customer base. The company is expanding its footprint in Brazil, which is a key growth market in the offshore energy industry. This positions Vallourec to capitalize on the growing demand for high-quality tubular solutions in domestic as well as export markets.
VLOWY’s Zacks Rank and Key Picks
Currently, VLOWY carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the energy sector are PEDEVCO Corp. PED, TechnipFMC FTI and VAALCO Energy EGY. PEDEVCO presently sports a Zacks Rank #1 (Strong Buy), while TechnipFMC and VAALCO Energy carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
PEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. The company stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States, as well as in the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations. Combined with bullish oil prices, this is expected to boost the company's production and overall profitability.
TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a record high of $13.9 million in the second quarter of 2024, indicating a year-over-year increase of 4.51%. This growing backlog ensures strong revenue growth for FTI in the future.
VAALCO Energyis an independent energy company involved in upstream business operationswith a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.
Zacks Investment Research
Saipem S.p.A SAPMF, an Italian engineering and construction services firm, has secured an engineering, procurement, and construction (EPC) contract for an offshore project in Qatar. QatarEnergy LNG, a subsidiary of QatarEnergy, has awarded this contract to Saipem. The project, worth $4 billion, is part of the North Field production sustainability offshore compression complexes program. Saipem will be working on COMP 3A and COMP 3B of the program.
Per the terms of the agreement, Saipem has been tasked with engineering, procurement, fabrication and installation work for six platforms. Furthermore, it will be responsible for laying rigid subsea pipelines spanning 100 km. These pipelines, with diameters of 28 inches and 24 inches, will be made from an alloy that is resistant to corrosion.
The contract also includes the laying of 100 km of subsea composite cables and 150 km of fiber-optic cables. Saipem will also be responsible for the installation of additional subsea facilities.
The award followed another EPC contract that Saipem had won in October 2022. The work on this project is currently in progress. The contract, worth $4.5 billion, is part of the North Field production sustainability offshore compression complexes project, COMP-2.
The North Field is one of the largest natural gas reservoirs in the world located offshore Qatar. The North Field production sustainability offshore compression complexes program was aimed at ensuring long-term production from the field.
QatarEnergy is focusing on raising Qatar’s LNG production capacity. The company is currently working on an LNG expansion program for the North Field. This program covers three fields — the North Field East, the North Field South and the North Field West. This expansion program is aimed at significantly increasing the country’s production capacity from 77 to 142 million tons per annum (mtpa) in 2030.
SAPMF’s Zacks Rank and Key Picks
Currently, SAPMF carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy sector are PEDEVCO Corp. PED,TechnipFMC FTI and VAALCO Energy EGY. PEDEVCO presently sports a Zacks Rank #1 (Strong Buy), while TechnipFMC and VAALCO Energy carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
PEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. The company stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States, as well as in the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations. Combined with bullish oil prices, this is expected to boost the company's production and overall profitability.
TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a record high of $13.9 million in the second quarter of 2024, indicating a year-over-year increase of 4.51%. This growing backlog ensures strong revenue growth for FTI in the future.
VAALCO Energy is an independent energy company involved in upstream business operationswith a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.
Zacks Investment Research
Saipem S.p.A SAPMF, an Italian oilfield services firm, has prolonged its stay with the Norwegian energy firm, Aker BP. Aker BP has extended its contract with the semi-submersible rig, Scarabeo 8, which is currently working in the Norwegian Continental Shelf. The contract extension will keep the rig in Norway till the end of 2026.
Saipem inked a contract with Aker BP for the semi-submersible rig, Scarabeo 8, in March 2022 for a duration of three years. Scarabeo 8 began its contract in early 2023. The deal was valued at $325 million. Saipem mentioned that Scarabeo 8 is a sixth-generation semi-submersible drilling rig, designed to work in harsh offshore environments.
For the contract with Aker BP, Scarabeo 8 reached the Hassel prospect (7324/8-4 exploration well) in the Barents Sea about three months ago. The drilling assignment in the region includes two other prospects, namely Viasat (well 7324/6-3) and Ferdinand Nord (well 7324/6-2). The three wells are expected to be drilled toward the east of the Wisting field in the Barents Sea.
Scarabeo 8 is a dual derrick semi-submersible rig that can operate both in deep water as well as in shallow water environments. The rig boasts a dynamic positioning system which is useful for deepwater drilling assignments. It also comes with a dedicated mooring system that enables the rig to operate in shallow waters. Saipem has highlighted that this rig adheres to the strictest regulatory standards.
The Scarabeo 8 has previously worked in harsh offshore environments and has maintained a successful track in regions like the North Sea and the Barents Sea. The rig can accommodate 140 people and has a maximum drilling depth of 35,000 feet.
SAPMF’s Zacks Rank and Key Picks
Currently, SAPMF carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy sector are PEDEVCO Corp. PED, TechnipFMC FTI and VAALCO Energy EGY. PEDEVCO presently sports a Zacks Rank #1 (Strong Buy), while TechnipFMC and VAALCO Energy carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
PEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. The company stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States, as well as in the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations. Combined with bullish oil prices, this is expected to boost the company's production and overall profitability.
TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a record high of $13.9 million in the second quarter of 2024, indicating a year-over-year increase of 4.51%. This growing backlog ensures strong revenue growth for FTI in the future.
VAALCO Energy is an independent energy company involved in upstream business operations with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.
Zacks Investment Research
Imperial Oil Limited IMO has experienced 16% growth in its share price year to date (YTD), significantly outperforming the broader oil and energy sector, which has seen a 0.3% decline. This stark disparity raises a key question for investors: Should they invest in the stock now or wait for a more favorable opportunity?
Based in Calgary, Imperial is more than just a Canadian oil company; it's a major player with a multi-layered portfolio that includes oil and gas production, refining, marketing and chemical manufacturing. As Canada's largest jet fuel supplier and a leading asphalt producer, the integrated oil and gas company holds a significant position in the market. The company also benefits from the expertise and resources of ExxonMobil XOM, which owns a substantial 69.6% stake.
In simple terms, IMO makes money by finding and extracting oil and gas, refining those into products like gasoline and diesel, and selling them to its customers.
So, what’s fueling Imperial’s rise? Let’s delve into the key drivers behind its impressive YTD performance and explore whether this momentum is likely to continue or not.
Promising Factors
Strong Financial Performance and Cash Flow: IMO has consistently reported strong financial performance, with second-quarter 2024 net income of C$1.1 billion, a significant year-over-year increase from C$675 million. The company also generated C$1.6 billion in cash flow from operations during the quarter, indicating IMO’s ability to generate substantial cash from its core business.
This strong cash generation allows the company to comfortably fund its shareholder returns through dividends and share buybacks while maintaining a solid cash position for growth and operational flexibility. Currently, the company carries a Momentum Score of A.
Production Growth and Operational Efficiency: IMO's upstream production hit a 30-year high in second-quarter 2024, averaging 404,000 barrels per day (bpd). This was driven by record output at key assets like Kearl, which achieved 255,000 bpd and Cold Lake, which saw production rise to 147,000 bpd.
Image Source: Imperial Oil Limited
The company has been successfully executing turnaround activities ahead of schedule and below cost expectations, reducing downtime and improving operational efficiency. This focus on cost reduction is exemplified by Kearl's significant reduction in operating costs per barrel, which is a positive long-term driver for profitability. Additionally, the Trans Mountain Pipeline Extension will boost Imperial by adding 590,000 bpd of capacity for oil sands, improving market access and pricing, and supporting growth.
Renewable Energy Investment: In response to global climate concerns and a transition to greener energy, IMO is developing Canada’s largest renewable diesel facility at its Strathcona refinery. After completion, it will produce more than one billion liters of renewable diesel yearly, helping to reduce carbon emissions and positioning the company for growth in the low-carbon energy market.
This strategic investment shows that IMO is not only committed to its traditional fossil fuel business but is also expanding into more sustainable energy solutions. This may improve the company’s long-term resilience and attractiveness to environmentally conscious investors.
Favorable Market Dynamics: The narrowing spread between West Texas Intermediate (“WTI”) and Western Canadian Select (“WCS”) has improved IMO’s price realizations. The WTI/WCS differential has been tightening due to increased pipeline capacity, which benefits Canada’s producers like IMO by improving the profitability of heavy oil exports. This reduced-price volatility and stronger price realizations in the upstream segment have led to a significant improvement in Imperial’s cash flows, positioning the company well for further growth.
Shareholder-Friendly Policies: IMO has a strong track record of returning cash to its shareholders through dividends and share buybacks. In second-quarter 2024, the company declared a dividend of 60 Canadian cents per share and plans to repurchase up to 5% of its outstanding shares by the end of the year. This not only rewards investors but also signals management’s confidence in the company's future performance.
IMO Stock: Cautionary Notes
Exposure to Oil Price Volatility: Like most oil and gas companies, IMO’s earnings are highly sensitive to fluctuations in oil prices. While current oil prices are favorable, any downturn in the market could significantly impact the company’s revenues and profitability. For example, if geopolitical tensions ease or there is a global economic slowdown, oil demand could decrease, putting pressure on prices and affecting Imperial’s bottom line. Imperial's reliance on the oil sector makes it vulnerable to cyclical downturns and commodity price risks, which can lead to lower margins and weaker financial performance in challenging market conditions.
Environmental and Regulatory Risks: IMO operates primarily in Canada, where environmental regulations are stringent. The company is exposed to environmental risks, including wildfires in Western Canada, which have already posed threats to its production sites like Kearl and Cold Lake. Additionally, future carbon pricing or stricter environmental regulations could increase operating costs, affect project viability, or lead to fines and penalties if IMO fails to meet regulatory standards. The company's large-scale oil sands operations make it a target for environmental concerns, which could also affect investor sentiment.
Weaker Refining Margins: Despite strong upstream performance, IMO’s downstream segment, particularly refining, faced challenges in second-quarter 2024. Refining margins were down due to weaker market conditions and softer crack spreads, particularly in gasoline and diesel. Lower refining margins reduce the company’s overall profitability, particularly in periods of high oil prices when refining costs may not be fully passed on to consumers. The company’s heavy reliance on refined product sales could hurt earnings if these margin pressures persist.
High CapEx Spending Commitments: IMO has significant capital expenditure (“CapEx”) commitments, particularly related to maintaining the company’s upstream assets and advancing its renewable energy projects. While these are long-term investments that could benefit the company, the upfront costs are high, with second-quarter 2024 CapEx reaching C$462 million.
Furthermore, IMO’s management has outlined a capital spending budget of C$1.7 billion for 2024. Any delays or cost overruns in these projects could negatively impact the company’s financials in the short term. Moreover, if oil prices decline, the company could face pressure to scale back or delay its CapEx programs, which may hinder IMO’s growth prospects.
Geopolitical and Market Dependence: While IMO has strong domestic operations, it is heavily concentrated in Canada and highly dependent on local market conditions. Any adverse changes in Canada’s energy policies, such as increased taxes or stricter regulations on oil sands, could negatively impact the company's operations.
Additionally, Imperial’s exposure to global market dynamics, such as supply chain disruptions, fluctuating demand for oil, or competition from international oil producers, could impact the company’s ability to maintain its competitive position.
IMO Stock: Final Thoughts
Imperial’s impressive stock performance and strategic initiatives paint a promising picture, with the company currently trading 15% away from its 52-week high. The company’s strong financials, operational efficiencies and green energy investments suggest a bright future. However, factors like oil price volatility, regulatory risks and high CapEx warrant careful consideration.
Of the 15 brokers covering IMO stock, four have given Strong Buy recommendations, while 11 have rated it as Hold and there are no Sell recommendations. With a Zacks Rank #3 (Hold), waiting for a more favorable entry point may be prudent before adding the stock to your portfolio.
Key Picks
Investors interested in the energy sector might look at some better-ranked stocks like MPLX LP MPLX, sporting a Zacks Rank #1 (Strong Buy), and Vaalco Energy, Inc. EGY, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Findlay, OH-based MPLX LP is valued at $44.68 billion. In the past year, its shares have risen 25.7%. MPLX owns and operates midstream energy infrastructure and logistics assets in the United States. It operates under two segments, namely Logistics and Storage, and Gathering and Processing.
Houston, TX-based Vaalco Energy is valued at $579.92 million. The oil and gas exploration and production company currently pays a dividend of 25 cents per share, or 4.47%, on an annual basis. EGY is an independent energy company principally engaged in the acquisition, exploration, development and production of crude oil and natural gas.
Zacks Investment Research
TC Energy Corporation TRP announced that it has recently encountered an obstacle that caused a delay in its deal to sell a minority stake in the NGTL System and the Foothills Pipeline assets to an indigenous-owned investment partnership in Canada. The deal, valued at C$1 billion, has been delayed owing to a transaction structuring issue. The deal, aimed at reducing TC Energy’s debt, is a key part of the company’s strategy to achieve its C$3 billion asset sale target for 2024.
The deal, when completed, is expected to give 72 indigenous communities the right to own an equity stake in the NGTL System and the Foothills Pipeline assets. It has the support of the Alberta Indigenous Opportunities Corporation (“AIOC”).
The AIOC is an organization that offers loan guarantees in the range of $20-$250 million for projects it deems fit. It is providing a $1 billion equity loan guarantee for the indigenous-owned investment partnership to support the deal. TRP believes that the deal will enable the indigenous communities to invest in these natural gas assets, leading to their prosperity and economic growth.
The NGTL system is a major asset in TRP’s pipeline network. It connects a major portion of the natural gas production from western Canada to domestic markets as well as international export markets. The pipeline network spans approximately 24,400 kilometers (15,150 miles). TC Energy has mentioned that it continues to maintain a focus on finalizing the deal.
TRP’s Zacks Rank and Key Picks
Currently, TRP carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy sector are PEDEVCO Corp. PED, MPLX LP MPLX and VAALCO Energy EGY. PEDEVCO and MPLX presently sport a Zacks Rank #1 (Strong Buy) each, while VAALCO Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. The company stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States, as well as in the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations. Combined with bullish oil prices, this is expected to boost the company's production and overall profitability.
MPLX LP owns and operates a wide range of midstream assets. The partnership's midstream assets include oil and natural gas gathering systems and transportation pipelines for crude, natural gas and refined petroleum products. MPLX is least exposed to commodity price fluctuations as it generates stable fee-based revenues. Furthermore, it surpasses its industry peers in terms of distribution yield, reflecting its commitment to returning capital to its unitholders.
VAALCO Energy is an independent energy company involved in upstream business operationswith a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.
Zacks Investment Research
BP plc BP, the British energy major, has announced a final investment decision for the construction of a green hydrogen project at its Castellón refinery, in partnership with the Spanish utility firm Iberdrola IBDRY. The company stated that the capacity of the green hydrogen project would be 25 MW and the facility is expected to come online in the second half of 2026. This hydrogen project is the first initiative of its kind, set to be developed by BP and Iberdrola through their 50-50 joint venture Castellón Green Hydrogen S.L.
The initiative has received a funding of 15 million euros from NextGenerationEU, which is a part of the European Union. The project also involves the contribution of the Technology Institute of Energy. Iberdrola has highlighted that the green hydrogen initiative, in collaboration with BP, marks a significant step toward its commitment to endorse green hydrogen for decarbonizing the industry.
As part of the project, the hydrogen plant will convert 200GWh of renewable energy per year from Iberdrola into green hydrogen to support BP’s decarbonization targets. Iberdrola further stated that it will leverage its knowledge and expertise of its existing green hydrogen plants to contribute to the advancement of the project.
Details of the Project
For this project, the 25MW electrolyzer will utilize renewable electricity provided by Iberdrola’s photovoltaic and wind projects. The project will receive 200GWh of electricity per year through a power purchase agreement with the Spanish firm. The electrolyzer will consist of five units of a 5 MW module utilizing containerized proton exchange membrane technology. The technology is being provided by Plug Power, a prominent green hydrogen solution developer.
The green hydrogen will be produced by electrolyzing water using the renewable electricity from Iberdrola. Subsequently, the green hydrogen produced should meet the European standards for green hydrogen i.e., Renewable Fuels of Non-Biological Origin. This should enable energy major BP’s Castellón refinery to eventually become an integrated energy hub.
BP’s Decarbonization Strategy
The project is expected to produce approximately 2,800 tons of green hydrogen per year. This production should replace a part of the grey hydrogen that is produced using natural gas and used at BP’s refinery. This project is a significant part of the company’s decarbonization strategy, as it is anticipated to reduce nearly 23,000 tons carbon dioxide emissions per year. Furthermore, the construction of the project might also contribute to generating employment by opening up 500 new jobs.
Expansion Plans and Future Application
BP is also exploring opportunities that should help expand the initial 25MW green hydrogen project. It believes that the green hydrogen produced from this project can aid in the decarbonization of other industries with particularly high emissions in Valencia. The green hydrogen produced can help replace natural gas used in the ceramic industry. It can also contribute to reducing the carbon footprint of other hard-to-abate industries such as chemicals and heavy transport.
Iberdrola has entered into many long-term partnerships to accelerate the decarbonization of the economy. It has partnered with BP to promote electric mobility in Spain and Portugal. The company has also developed partnerships with Norges Bank Investment Management, Masdar, Mapfre and Energy Infrastructure Partners to proceed with many renewable energy projects.
IBDRY has also collaborated with the GIC to support the growth of transmission networks in Brazil. Iberdrola believes that the green hydrogen sector represents a true energy transition. This is because its production relies on electricity and is emission-free. Further, this sector draws significant attention from investors and contributes to the creation of employment.
BP mentioned that this strategic initiative shall not only contribute to the upgradation of the Castellón refinery but also toward developing industrial capacity and supporting the economy in the Valencia region.
Zacks Rank and Key Picks
Currently, BP has a Zacks Rank #5 (Strong Sell), while IBDRY carries a Zacks Rank #2 (Buy).
Investors interested in the energy sector might want to look at some better-ranked stocks such as PEDEVCO Corp. PED and MPLX LP MPLX, presently sporting a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
PEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. The company stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States, as well as in the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations. Combined with bullish oil prices, this is expected to boost PEDEVCO's production and overall profitability.
MPLX LP owns and operates a wide range of midstream assets. The partnership's midstream assets include oil and natural gas gathering systems and transportation pipelines for crude, natural gas and refined petroleum products. MPLX is least exposed to commodity price fluctuations as it generates stable fee-based revenues. Furthermore, it surpasses its industry peers in terms of distribution yield, reflecting its commitment to returning capital to its unitholders.
Zacks Investment Research
Saipem S.p.A. SAPMF has launched the first full-scale prototype of XolarSurf, a floating solar energy system designed for harsh offshore environments. The prototype floater was developed in partnership with Kystteknikk and other subcontractors. It has been lifted and sent out on the sea at Kystteknikk's facilities in Dyrvik. The facility is situated on the Frøya island at Trondheim fjord in Norway. The floater will remain at sea for a year and during this time, its performance will be closely assessed.
The modular solar floating system has been crafted to endure waves up to 8 meters in height. Saipem’s unveiling of this groundbreaking floating solar technology is aimed at full-scale testing of the product and marks a milestone in the product’s readiness. During the one year, the product’s production capacity will be tested.
This solution, which can produce electricity from solar panels fitted on floaters, is developed for marine environments. The design gives the model a great deal of flexibility as it is formed by ‘islands’. These islands consist of many small floaters, which provide ample room for setting up stable photovoltaic panels. Each of these floaters has the capacity to generate up to 35-45 kWp (kilowatt-peak) of installed power.
Saipem’s Norwegian subsidiary, Moss Maritime, was involved in the development of the floating solar technology (equipped with a modular design). Following its initial phase of development, the industrialization process focused on evaluating any potential cost reduction that can be achieved through repeated and scalable production.
The development and testing process of the technology took years. This included engineering, model, and component testing in laboratories, alongside a full-scale test of marine operations. The process was necessary for the installation of the floating solar system in offshore environments. It was carried out in collaboration with Norwegian energy firm, Equinor.
XolarSurf is a groundbreaking development in the floating solar technology space. It can be installed in coastal and offshore locations and can operate even under harsh environmental conditions. Notably, the solution may be ideal for hybrid projects like offshore wind farms, including fixed and floating systems.
The technology may also find use in areas with limited land access, remote regions and stand-alone grids. The floating solar technology can support and deliver electricity to the expanding aquaculture industry. XolarSurf has been developed with a modular design, which allows for easy relocation to a new site or expansion in the existing site.
SAPMF’s Zacks Rank and Key Picks
Currently, SAPMF carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy sector are PEDEVCO Corp. PED, MPLX LP MPLX and VAALCO Energy EGY. PEDEVCO and MPLX presently sport a Zacks Rank #1 (Strong Buy) each, while VAALCO Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. The company stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States, as well as in the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations. Combined with bullish oil prices, this is expected to boost the company's production and overall profitability.
MPLX LP owns and operates a wide range of midstream assets. The partnership's midstream assets include oil and natural gas gathering systems and transportation pipelines for crude, natural gas and refined petroleum products. MPLX is least exposed to commodity price fluctuations as it generates stable fee-based revenues. Furthermore, it surpasses its industry peers in terms of distribution yield, reflecting its commitment to returning capital to its unitholders.
VAALCO Energy is an independent energy company involved in upstream business operationswith a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.
Zacks Investment Research
White Label
Data API
Web Plug-ins
Poster Maker
Affiliate Program
The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.
Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.