PETALING JAYA: A slew of downgrades has piled on for energy infrastructure company Yinson Holdings Bhd after a surprised cancellation of a major tender. Analysts wasted no time in cutting their stock price targets for the group after it was reported on Friday that Brazilian oil major Petrobras had cancelled its tender for a project involving the redevelopment of the Parque das Baleias( PDB) offshore oil fields in Brazil’s CamposBasin, as it could not agree to Yinson’s daily charter rate offer of

KUALA LUMPUR: Shares in Yinson Holdings Bhd climbed in early trade Friday after reporting a 26% growth in net profit in the second quarter ended July 31. The group climbed 0.61%, or three sen to RM4.93 at 9. 24am.... In the past one year, the counter has fallen 13.5%. Yinson’s net profit jumped 26% to RM126mil in the second quarter ended July 31 from RM100mil in the same period a year ago, lifted by its engineering business. Revenue during the quarter increased 5.9% to RM1. 05bil from RM995mil

PETALING JAYA: Among the oil and gas service providers, Yinson Holdings Bhd is seen to be ahead of its peers on the energy transition path. Its latest collaboration with Chile-based renewable energy( RE) developer Verano Capital Holdings SpA will speed up this journey, offering Yinson immediate access into Latin America’s RE space, with a strong development pipeline of 800 megawatt( MW) greenfield RE projects in hand.Of this, 330MW is expected to be approved by the authorities within the next si

PETALING JAYA: Crude oil price is expected to remain high with a rebound in global oil consumption while supply is expected to remain tight. However, Petroliam Nasional Bhd( Petronas) is unlikely to raise its capital expenditure for the local upstream oil and gas( OG) sector.In recent days, oil prices have continuously hit multi-year highs with Brent crude oil touching US$ 86.70( RM359.74) a barrel on Monday – the highest level since October 2018. Yesterday, Brent crude oil settled at US$ 83.77(