If Brent holds ~US$110/bbl, upstream companies will see ~90% YoY growth in FY23 estimated Profit After Tax (PAT), while downstream will likely report significant losses, given under-recovery on auto fuels.
There were a few Indian corporations whose bonds fell as the rupee fell to a record low last week, including Tata Motors, which owns Jaguar, and mining behemoth Vedanta Resources Ltd.
At meeting held on 25 June 2022
Baker Hughes reported on Friday that the total number of active US rig count for oil was up by 10 to 594 for the week ended 24th June 2022. This marked the biggest weekly rise since the week ended May 20. The total active US rig count, which includes those drilling for natural gas, also jumped by 13 to 753, according to Baker Hughes. Natural […]
At meeting held on 25 June 2022
China industrial profits declined at a slower pace in May as companies resumed production after the easing of pandemic related restrictions. Industrial profits decreased 6.5 percent on a yearly basis, following Aprils 8.5 percent decline, the National Bureau of Statistics reported. During January to May, industrial firms registered an increase of 1.0 percent in profits. Nonetheless, this was slower than the 3.5 percent growth posted […]
China industrial profits declined at a slower pace in May as companies resumed production after the easing of pandemic related restrictions. Industrial profits decreased 6.5 percent on a yearly basis, following Aprils 8.5 percent decline, the National Bureau of Statistics reported. During January to May, industrial firms registered an increase of 1.0 percent in profits. Nonetheless, this was slower than the 3.5 percent growth posted […]
It represents a sharp reversal from the previous two years when metals rose on a wave of confidence following the shutdown, inflationary projections, and supply bottlenecks.
The company was last valued at $1.2 billion in January of this year when it raised new funds from investors such as Sequoia and Sofina of Belgium.
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