On Wednesday, Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), surged 7.28% to $7.07, despite oil prices fell for a sixth day on Wednesday, marking their longest string of losses in a year, as worsening global oversupply offset the potential lift from a weaker dollar and an predictable drop in U.S. crude stocks.
Brent hit a session trough of $52.28 on Tuesday, its lowest since Feb. 2 after a meltdown in Chinese equities raised concern over the health of the world’s top commodity consumer.
U.S. crude for September delivery last traded at $47.75 a barrel, down 23 cents on the day. Reuters Reports
Petróleo Brasileiro S.A. Petrobras operates as an integrated energy company in Brazil and internationally. Its Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of crude oil and oil products produced at natural gas processing plants in domestic and foreign markets.
Shares of The Procter & Gamble Company (NYSE:PG), inclined 0.49% to $80.62, during its last trading session.
The Procter & Gamble Company’s David Taylor, named to the chief executive officer job on Tuesday, won’t have an easy time concluding the turnaround effort of his predecessor, according to Bloomberg.
When the 57-year-old Taylor officially takes the helm on Nov. 1, he’ll be overseeing a company with declining sales, a still-pending $12.5 billion transaction with Coty Inc., and a spotty record of connecting with millennial shoppers. Bloomberg Reports
The Procter & Gamble Company, together with its auxiliaries, manufactures and sells branded consumer packaged goods. The company operates through five segments: Beauty; Grooming; Health Care; Fabric Care and Home Care; and Baby, Feminine and Family Care.
Finally, Newfield Exploration Co. (NYSE:NFX), ended its last trade with 4.28% gain, and closed at $32.88.
Newfield Exploration Company declared that effective July 28, 2015, Roger B. Plank, 58, former president and chief corporate officer, Apache Corporation, has been designated to Newfield’s Board of Directors. In addition, James Kent Wells, 58, former chief executive officer, Fidelity Exploration & Production Company, will be designated to Newfield’s Board of Directors effective August 1, 2015. Following these appointments, Newfield’s Board will be comprised of 10 directors, nine of whom are independent.
“Both Roger and Kent have considerable exploration and production experience in North America, which will be a valuable asset to Newfield as we focus on growing our domestic resource plays,” said Lee K. Boothby, Newfield chairman, president and CEO. “Having spent more than three decades at Apache, Roger was instrumental in establishing the company’s reputation as one built on solid financial administration. Kent’s 32 years with BP and Amoco have offered him with knowledge and experience in unconventional resource plays similar to our current development focus.”
Plank holds a B.A. in liberal arts from Colgate University, Hamilton, New York, and a M.B.A. from the University of St. Thomas, St. Paul, Minnesota. He serves on the board and is presiding director of Parker Drilling Company. Plank also has been active in numerous professional and charitable organizations serving on the boards of Alley Theatre, Texas Independent Producers and Royalty Owners Association (TIPRO) and The Ucross Foundation.
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. The company’s primary areas of operation comprise the Mid-Continent, Rocky Mountains, and onshore Gulf Coast regions in the United States. It also holds offshore oil developments in China.
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