Latest news with #Transpetro
Bloomberg
05-07-2025
- Business
- Bloomberg
Petrobras Taps Chinese Companies to Help Revive Shipbuilding
Petrobras Chief Executive Officer Magda Chambriard said the Brazilian oil producer is seeking Chinese investment to help upgrade its shipping and infrastructure. A memorandum of understanding Saturday included China's Cosco, Offshore Oil Engineering Co., China State Shipbuilding Co. and China International Marine Containers Ltd. and Brazilian peers EBR, Rio Grande, Maua, Enseada and Atlantico Sul. State-controlled Petroleo Brasileiro SA and its Transpetro logistics subsidiary will serve as anchors for potential technological and business partnerships.
Yahoo
21-06-2025
- Business
- Yahoo
Tsakos Energy (TEN) Surges on Impressive Q1 Performance
The share price of Tsakos Energy Navigation Limited (NYSE:TEN) surged by 16.83% between June 11 and June 18, 2025, putting it among the Energy Stocks that Gained the Most This Week. A top-down view of a crane loading or unloading oil barrels from a Suezmax crude oil tanker. One of the largest marine transporters of energy in the world, Tsakos Energy Navigation Limited (NYSE:TEN) offers transportation services of crude oil and petroleum products to national and international oil companies and refineries. Tsakos Energy Navigation Limited (NYSE:TEN) posted impressive results for its Q1 2025 this week, reporting an adjusted EPS of $1.15 and beating expectations by a significant $0.75. The company's revenue of $161 million also managed to top estimates by $7 million. A major growth factor for the company is the recent award to build nine DP2 shuttle tankers for Transpetro/Petrobras, which propels TEN to become one of the largest shuttle tanker owners in the Brazilian offshore sector. Tsakos Energy Navigation Limited (NYSE:TEN) also announced a semi-annual dividend of $0.6 per share to be distributed on July 18, 2025. Following this payout, the company will have distributed over $900 million in dividends since its NYSE listing in 2002. While we acknowledge the potential of TEN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and Disclosure: None. Sign in to access your portfolio
Reuters
06-05-2025
- Business
- Reuters
Petrobras seeks foreign firms to enter partnerships with Brazilian shipyards
HOUSTON, May 6 (Reuters) - Brazil's Petrobras ( opens new tab is looking to attract foreign investments to boost local shipyards, said the state-run oil firm's CEO Magda Chambriard on Tuesday. Petrobras is looking for strong companies to partner with shipyards to build more ships locally, said Chambriard, who recently visited China and discussed the matter with government officials and firms. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. "We are traveling and visiting other countries in order to invite companies," Chambriard told journalists during the OTC conference in Houston. Brazil's President Luiz Inacio Lula da Silva, a former metalworker, has made it a priority to generate jobs at local shipyards - a sector that has struggled for years. Petrobras has already commissioned several new ships. The oil firm's transportation and logistics subsidiary Transpetro expects to commission 25 ships by 2030. "What we have in our business plan is much bigger than what we can do in Brazil," said director for engineering, technology and innovation, Renata Baruzzi. "We need help from our partners, so why not China?"
