VAALCO Energy, Inc. (NYSE:EGY) provided the following update on recent activities.Previously announced maintenance work on the Company’s leased Floating, Production, Storage and Offloading (FPSO) vessel has been successfully completed ahead of schedule and production restarted from the Etame Marin block. Extensive maintenance and repairs have been performed on the FPSO processing systems including the gas compressor, the high pressure separator, the high pressure flare scrubber, and the installation of a new fuel gas scrubber. As previously announced, a second potential FPSO shutdown is tentatively planned during the second half of 2014 to upgrade the fire and gas detection systems.VAALCO Energy, Inc. (NYSE:EGY) shares after opening at $8.05 moved to $8.43 on last trade day and at the end of the day closed at $8.28. Company price to sales ratio in past twelve months was calculated as 2.78 and price to cash ratio as 3.61. VAALCO Energy, Inc. (NYSE:EGY) showed a positive weekly performance of 13.58%.
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), the state-controlled oil and gas giant, problems are mounting as President Dilma Rousseff’s role in purchase of a Texas refinery is under scrutiny. The talks are there that the deal was overpriced and it was backed by a flawed internal report. Rousseff approval to the purchase is considered as a deal based on flawed and incomplete information. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) shares advanced 2.01% in last trading session and ended the day on $13.18. PBR return on equity ratio is recorded as 7.60% and its return on assets is 3.60%. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) yearly performance is -20.46%.
The Mechel OAO (ADR) (NYSE:MTL) on Mar. 21 reported that its subsidiary Mechel Somani Carbon Private Limited launched a screening facility at coal terminal in Vishakhapatnam on India’s east coast. This will greatly expand Mechel’s capacity for marketing coal on the promising Indian market. Mechel Somani Carbon Private Limited’s screening facility on the basis of the coal terminal enables the company to sort anthracites supplied by Mechel’s mining enterprises. Its chief consumers are small and medium-sized businesses. The screening facility’s project capacity is set at up to 250,000 tonnes a year. Mechel OAO (ADR) (NYSE:MTL) shares moved down -3.79% in last trading session and was closed at $2.03, while trading in range of $1.97-$2.11. Mechel OAO (ADR) (NYSE:MTL) year to date performance is -20.70%.
News emerged last Wednesday that Full Alliance International which is salivating to acquire Yongye International, Inc (NASDAQ:YONG) had increased its buyout offer. In the latest submission, Full Alliance stated that it was willing to pay $7 for every share of YONG. Previously the offer was $6.69 per share, but shareholders deemed it too little to accept. It is hoped that the new offer might see the light of the day when shareholders are called to approve it. Yongye International, Inc (NASDAQ:YONG) weekly performance is 12.96%. On last trading day company shares ended up $6.80. Yongye International, Inc (NASDAQ:YONG) distance from 50-day simple moving average is 7.27%. Analysts mean target price for the company is $4.50.