Latest news with #FTK
Yahoo
4 days ago
- Business
- Yahoo
Eni & Shell to Cease Gas Plant Development in Kazakhstan Amid Disputes
Eni SpA E and Shell plc SHEL have received orders from Kazakhstan government to terminate their plans for the construction of a gas processing plant at the Karachaganak gas and condensate development. Authorities in Kazakhstan have resorted to this move due to ongoing disputes over the project's cost and its timeline, both of which remain uncertain. On May 17, a government agency in Kazakhstan, responsible for overseeing the protection of state interests, sent a letter to the shareholders of the Karachaganak gas project. In this letter, the agency asked the shareholders to cease all activities related to the gas processing plant immediately. The letter mentioned that the reason for this decision was the rising costs associated with the project and the delay in its estimated time of completion. Per a Bloomberg report, the cost associated with the development of the gas processing plant has increased to $6 billion. The report further stated that the group of international companies involved in this project, led by Shell and Eni, has pushed back the planned completion of the facility to 2030 from the previously stated date in 2028. The companies have also asked the government of Kazakhstan to support them by contributing approximately $1 billion toward the project's expenses. The financial help from the government would help the companies make the project commercially feasible. In light of these developments, the Kazakh government is considering an alternative to develop the refinery independently. Both E and SHEL currently carry a Zacks Rank #4 (Sell). Some better-ranked stocks from the energy sector are Flotek Industries Inc. FTK and Energy Transfer ET. While Flotek Industries sports a Zacks Rank #1 (Strong Buy) at present, Energy Transfer carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Flotek Industries specializes in green chemistry, which provides innovative solutions aimed at reducing the environmental impact of the energy industry. Flotek develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs. Energy Transfer is a midstream player that owns and operates one of the most diversified portfolios of energy assets in the United States. Boasting a pipeline network extending more than 130,000 miles, its network spans over 44 states. With a presence in all the major U.S. production basins, ET's outlook seems positive. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E) : Free Stock Analysis Report Energy Transfer LP (ET) : Free Stock Analysis Report Flotek Industries, Inc. (FTK) : Free Stock Analysis Report Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Flotek added to Russell 3000 Index
Flotek (FTK) will be added as a member of the broad-market Russell 3000 Index, effective after the US market opens on June 30, as part of the 2025 Russell indexes reconstitution. The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30th, ranking them by total market capitalization. Membership in the Russell 3000 Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000 Index or the small-cap Russell 2000 Index as well as the applicable Russell growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily based upon objective, market-capitalization rankings and style attributes. About $10.6T in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, a London Stock Exchange (LNSTY) company. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on FTK: Disclaimer & DisclosureReport an Issue Flotek rises 11.5% Flotek Holds Annual Shareholders' Meeting with Key Decisions Flotek Industries Reports Strong Q1 2025 Growth Flotek Industries Reports Record Growth Amid Cautious Optimism Flotek rises 33.5% Sign in to access your portfolio
Yahoo
30-05-2025
- Business
- Yahoo
Petrobras Commissions New Hydrotreatment Unit at REPLAN
Petróleo Brasileiro S.A. - Petrobras PBR has launched operations at a new diesel hydrotreatment unit at its REPLAN refinery in Paulínia, São Paulo, the largest refinery in Brazil. The new unit, which began operating on May 27, is designed to produce 63,000 barrels per day (b/d) of low-sulfur S-10 diesel and up to 21,000 b/d of jet fuel. Notably, the startup was completed three months ahead of schedule and within the original budget. This expansion marks a significant milestone in Petrobras' efforts to phase out S-500 diesel, a higher-sulfur fuel, in favor of the cleaner S-10 variant. The switch enhances energy efficiency, lowers sulfur oxide emissions and supports cleaner air for consumers and surrounding communities. The new hydrotreating unit is more than just a capacity boost. It is part of Petrobras' broader 2024-2028+ strategic plan focused on upgrading refining infrastructure to meet global low-carbon standards. Alongside cleaner diesel, the unit's ability to produce sustainable jet fuel responds to both environmental pressures and growing aviation demand. An integral hydrogen recovery unit, with a capacity of 150,000 cubic meters per day, complements the system, supporting the efficiency of the hydrotreater and aligning with Petrobras' sustainability goals. Originally inaugurated in 1972, REPLAN has grown to become the heart of Brazil's fuel production with the largest processing capacity and a throughput of 434,000 b/d, accounting for nearly a quarter of the national diesel market. The site's strategic importance was recently recognized when it was named 'Refinery of the Year 2024' by the World Refining Association. With a $15.2 billion investment planned over the next five years, Petrobras aims to elevate the operational performance of its refineries, reinforcing Brazil's role in the global shift toward cleaner energy. Headquartered in Rio de Janeiro, Petroleo Brasileiro S.A. or Petrobras S.A., is the largest integrated energy firm in Brazil and one of the largest in Latin America. Currently, PBR has a Zacks Rank #3 (Hold). Investors interested in the energy sector might look at some better-ranked stocks like Flotek Industries, Inc. FTK, Epsilon Energy Ltd. EPSN and RPC, Inc. RES. While Flotek Industries and Epsilon Energy currently sport a Zacks Rank #1 (Strong Buy) each, RPC carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Flotek Industries develops and delivers prescriptive chemistry-based technology, including specialty chemicals, to clients in the energy, consumer industrials and food & beverage industries. The Zacks Consensus Estimate for FTK's 2025 earnings indicates 55.88% year-over-year growth. Houston, TX-based Epsilon Energy is an on-shore focused oil and natural gas company that is engaged in the acquisition, development, gathering and production of oil and gas reserves. The Zacks Consensus Estimate for EPSN's 2025 earnings indicates 200% year-over-year growth. Atlanta, GA-based RPC is an oilfield service provider in almost all of the prospective plays, like the Rocky Mountain regions, Appalachian area, Gulf of Mexico and other resources in the United States. The Zacks Consensus Estimate for RES' next quarter earnings indicates 33.33% growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Petroleo Brasileiro S.A.- Petrobras (PBR) : Free Stock Analysis Report RPC, Inc. (RES) : Free Stock Analysis Report Flotek Industries, Inc. (FTK) : Free Stock Analysis Report Epsilon Energy Ltd. (EPSN) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
Here is Why Flotek Industries, Inc. (FTK) Skyrocketed This Week
Flotek Industries, Inc. (NYSE:FTK) was among the energy stocks that gained the most this week. In this article, we are going to discuss why the stock surged 21.9% between May 7th and May 14th. Aerial view of an oil refinery, showcasing the company's hydrocarbon-producing market segment. Flotek Industries, Inc. (NYSE:FTK) is a leading chemistry and data technology company focused on servicing the energy industry. Flotek Industries, Inc. (NYSE:FTK) continues to gain after posting significant growth in revenue and profit in its Q1 2025 results reported last week, marking its strongest quarterly performance in the last five years. The company's net income surged by a massive 244% YoY to $5.38 million, while its revenue also increased by 37% YoY to $55.36 million – both beating market expectations. FTK also highlighted its acquisition of 30 real-time gas monitoring and dual fuel optimization assets last month, along with a $160 million multi-year contract, as strategic moves to further strengthen its market position. Moreover, there have also been reports of insider activity at Flotek, with director Matthew Wilks investing over $1.65 million to purchase the company's stock. After the recent rally, the stock of Flotek Industries, Inc. (NYSE:FTK) has now surged by around 315% over the last 52 weeks. While we acknowledge the potential of FTK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FTK and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None.
Yahoo
15-05-2025
- Business
- Yahoo
Here is Why Flotek Industries, Inc. (FTK) Skyrocketed This Week
Flotek Industries, Inc. (NYSE:FTK) was among the energy stocks that gained the most this week. In this article, we are going to discuss why the stock surged 21.9% between May 7th and May 14th. Aerial view of an oil refinery, showcasing the company's hydrocarbon-producing market segment. Flotek Industries, Inc. (NYSE:FTK) is a leading chemistry and data technology company focused on servicing the energy industry. Flotek Industries, Inc. (NYSE:FTK) continues to gain after posting significant growth in revenue and profit in its Q1 2025 results reported last week, marking its strongest quarterly performance in the last five years. The company's net income surged by a massive 244% YoY to $5.38 million, while its revenue also increased by 37% YoY to $55.36 million – both beating market expectations. FTK also highlighted its acquisition of 30 real-time gas monitoring and dual fuel optimization assets last month, along with a $160 million multi-year contract, as strategic moves to further strengthen its market position. Moreover, there have also been reports of insider activity at Flotek, with director Matthew Wilks investing over $1.65 million to purchase the company's stock. After the recent rally, the stock of Flotek Industries, Inc. (NYSE:FTK) has now surged by around 315% over the last 52 weeks. While we acknowledge the potential of FTK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FTK and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
