Viking Energy Group, Inc. (OTCMKTS:VKIN) is an intriguing way to play this growing demand for biofuel. The company has a Membership Interest Purchase Agreement in place to acquire a Renewable diesel production facility in the corporate tax-free city of Reno, Nevada. The facility is capable of producing 43 million gallons per year, according to estimates. VKIN’s biofuel could net larger margins than average biofuel producers because there is a pretreatment center at the facility allowing the company to purchase pure feedstock rather than the pricy pre-treated feedstock many companies use in the production process. With terms of this agreement set to close soon, VKIN should be on your radar today.
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) stock has seen showing solid buying activities with higher highs. The stock has soared 24% so far this year. On Wednesday, PBR stock was up 3.42% to $13.61 and made a new high of 13.85 with more than 62.85 million shares exchanged hands, above its average volume of 29.15 million shares. Earlier the week, the company had cut its 2022-26 production targets. The company now expects 2.6 million barrels of oil equivalent per day (boed), down from original forecast of 2.7 million boed in November 2021.
KBR Inc. (NYSE:KBR) is another stock in the Biofuels sector which has been consolidating the gaining momentum recently. The stock has moved up 13% over the past 6-month. Moreover, the stock has jumped 5% so far this year. The stock is trading above 54% from its 52-week low and 12% away from its 52-week high.
Ecopetrol S.A. (NYSE:EC) stock has been recovering very fast after the recent fall. EC stock ended higher by 0.34% to $14.72 with more than 1.02 million shares exchanged hands, above its average volume of 759K shares. The stock is trading above 29% from its 52-week low and 7% away from its 52-week high. On December 15, the company the company had provided a glimpse of its capital spending plan for 2022.
Neptune Wellness Solutions Inc. (NASDAQ:AZPN) is another stock in the biofuel sector which has been showing consistent fall. The stock has moved down 6% over the past one quarter. AZPN stock closed up by 1% to $144.71 with volume of 392K shares, compared to its average volume of 321k shares. The stock is trading above 18% from its 52-week low and 14% away from its 52-week high.
