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Oilfield services provider TechnipFMC saw an “unprecedented level” of inbound orders in 2019, which pushed its backlog to over $24 billion. TechnipFMC booked a loss of $2.4 billion due to after-tax charges and credits. TechnipFMC on Thursday posted revenues of $3.7 billion for 4Q 2019, a 12.2% increase compared to the same period in 2018... Continue Reading →
Italian oil and gas company Eni has drilled the Agogo-3, the second appraisal well of Agogo discovery in Block 15/06, offshore Angola, increasing by about 40% the estimate of oil in place, which is now of 1 billion barrels with further upside to be tested in the Northern sector of the field. Eni said on... Continue Reading →
Shell is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government. The global oil major plans to drill four wells this year, and a similar amount next year, said Alberto de La Fuente, Shell’s Mexico country chief. It’s part of a drilling campaign... Continue Reading →
Malaysian state oil firm Petronas said on Wednesday its fourth-quarter profit slumped 71%, hurt by impairment costs and lower prices of major products. Petronas said profit after tax for the October-December period fell to 4.1 billion ringgit ($968.12 million) from 14.3 billion ringgit in the same period a year earlier. Excluding impairment charges, profit totaled... Continue Reading →
Guyana's government on Wednesday launched a search for a company to market its share of crude produced at the offshore Liza well, where an Exxon Mobil Corp-led consortium began producing oil in December. The government is entitled to a share of the oil produced, and has said it was seeking a marketing agent to help... Continue Reading →
Singapore's offshore facilities builder Keppel has said it has delivered "the world’s fastest brownfield Floating Production Storage and Offloading vessel (FPSO) modification and upgrading project." Named FPSO Abigail-Joseph, the vessel was delivered to Malaysia's Yinson Holdings. According to Keppel, it took it seven months to complete the project. Continue reading
Italian oil services group Saipem said on Wednesday it expected higher sales this year after it beat its 2019 targets and introduced a dividend for the first time in seven years. But it warned that concerns over the impact of the coronavirus and political uncertainty in certain parts of the world could weigh on weak... Continue Reading →
Engineering and construction specialist Subsea 7 has seen red in the fourth quarter 2019 on activity drop in renewables and heavy lift division. The Oslo-listed firm posted quarterly loss of $129 million, or $45 cents per diluted share, on revenue of $889 million, versus profit of $32 million, or $12 cents per diluted share on... Continue Reading →
Oceaneering has reported a net loss of $263 million, or $2.66 per share, for the three months ended December 31, 2019, despite revenue rise. The result compares with net loss of $64 million same time last year. During the prior quarter ended September 30, 2019, Oceaneering reported a net loss of close to $26 million,... Continue Reading →
The sale of a stake in Mexico’s giant Zama oil field promised to help Premier Oil pay down debts and strengthen its balance sheet, but an ownership conflict is complicating that process. Some international oil companies operating in Mexico are waiting for a resolution to a conflict between Talos Energy Inc., the field’s primary shareholder,... Continue Reading →
Brazil Energy Insight 