FINWIRES · TerminalLIVE
FINWIRES

Questerre Energy's Oil Shale Processing Facility in Brazil Undergoes Emergency Corrective Maintenance

By

Questerre Energy (QEC.OL) said its PX Energy oil-share processing facility in Brazil will be temporarily shut down for emergency corrective maintenance that could take three to four weeks.

The energy technology company noted in a July 31 release that a critical pipe failure in the facility's furnace triggered the maintenance. It reported no injuries and damage to the facility from the incident.

The company warned of production and revenue loss amid the maintenance, which is estimated to cost CA$1.5 million. During the downtime, Questerre will also carry out additional maintenance work on the facility to boost efficiency and increase production. The additional works will precede the plant turnaround scheduled for May 2027.

Related Articles

Equities

Naas Petrol Factory Completes Construction of Saudi Manufacturing Facility

Naas Petrol Factory Co. (SASE:9609) concluded construction at its manufacturing facility in Al Kharj, Saudi Arabia, according to a Sunday release.The Saudi Arabia-listed petroleum derivatives manufacturer expects the development to have a positive financial impact in the second half of 2026, after its targeted production capacity is achieved and operations are stabilized.

SASE:9609
Equities

S&P 500 Posts Weekly Gain Amid AI Monetization Optimism

The Standard & Poor's 500 index rose 1.1% this week as hyperscalers showed the mega spend on the artificial intelligence buildout is being monetized.The market benchmark ended the week at 7,489.72. The index is now down 0.1% quarter-to-date but up 9.4% year-to-date.Microsoft (MSFT) and Amazon.com (AMZN) rose this week as quarterly results from the tech giants showed revenue growth in areas related to AI products and services, helping calm worries surrounding hundreds of billions of dollars of investments earmarked for the AI buildout.Microsoft reported triple-digit AI annual recurring revenue growth and an accelerating Azure trajectory into the end of 2026, Dan Ives, global head of technology at Wedbush Securities, said in a note to clients. The software behemoth's quarterly results, which included Azure's full-year revenue surpassing $100 billion for the first time, reinforced the idea that "any knee-jerk reactions to the elevated capex framework represent strong buying opportunities," Ives said.Shares of Microsoft were up 22% this week.The consumer discretionary sector in the S&P 500 had the largest percentage gain of the week, up 8.3%, followed by a 5.4% advance in communication services and a 1.2% rise in consumer staples.Sales at Amazon's cloud computing unit delivered the fastest growth in 18 quarters, helping the e-commerce giant exceed market expectations for Q2 earnings and revenue. Shares jumped 17% this week even as the e-commerce behemoth expanded its capital expenditure by about $20 billion to $220 billion.A consortium of banks led by Morgan Stanley (MS) is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported Thursday, citing people familiar with the matter. Alphabet's (GOOG, GOOGL) Google would provide financial guarantees and chips for the project. Shares of Alphabet are up 12% this week.The three worst-performing S&P 500 sectors this week were utilities, real estate and materials, down 4.2%, 2.2%, and 1.7%, respectively.C.H. Robinson Worldwide (CHRW) said a jury in Texas issued a $604 million advisory verdict against the firm and two other defendants in a lawsuit stemming from a trucking accident involving an independent motor carrier. Shares declined 21% this week.Edison International (EIX) said Thursday that Southern California Edison believes it is likely its equipment was associated with the ignition of the 2025 Eaton Fire, according to a Thursday quarterly filing. Southern California Edison recorded $1.6 billion in settlement-related losses and said it expects to incur additional material losses related to the fire, per the filing. Shares of Edison slumped 8% this week.Palantir Technologies (PLTR), Space Exploration Technologies (SPCX), Advanced Micro Devices (AMD), Caterpillar (CAT), Walt Disney (DIS), SanDisk (SNDK), Uber Technologies (UBER) and Take-Two Interactive Software (TTWO) are among the companies reporting their quarterly results next week.Economic data due next week includes non-farm payrolls, job openings and labor turnover survey, and ISM manufacturing and services purchasing managers' indexes.

S&P 500$AMD$AMZN$CAT$CHRW$DIS$EIX$GOOG$GOOGL$MS$MSFT$PLTR$SNDK$SPCX$TTWO$UBER
Equities

Subsea 7 Lands Contract from Brunei Shell Petroleum

Subsea 7 (SUBC.OL) secured a "sizeable" contract to deliver subsea installation for Brunei Shell Petroleum's pipeline replacement project offshore Brunei.The agreement includes the engineering, procurement, construction, and installation of a subsea pipeline, as well as riser systems, according to a Friday release.Project management and engineering work are slated to start immediately. The offshore engineering and construction services company values a sizeable contract at between $50 million and $150 million.

$SUBC.OL