(Reuters) - Mexico's state oil company Petroleos Mexicanos (Pemex) on Wednesday reported net profit of $722.5 million in the second quarter, swinging from a loss in the same period last year thanks to higher crude prices and production. The company said the 14.4-billion-pesos profit was due to higher income from international sales, which doubled from... Continue Reading →
Equinor second quarter 2021 results
Equinor (STOHF) (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of USD 4.64 billion and USD 1.58 billion after tax in the second quarter of 2021. IFRS net operating income was USD 5.30 billion and the IFRS net income was USD 1.94 billion. The second quarter of 2021 was characterised by: Strong results due to higher... Continue Reading →
Wintershall Dea post strong Q2 thanks to oil prices, lower spending
(Reuters) - Wintershall Dea (WINT.UL) posted strong second quarter 2021 earnings as it benefited from firmer oil prices and reduced spending, its earnings report showed on Tuesday. The company, owned jointly by BASF (BASFn.DE) and Russia's LetterOne, posted earnings before interest, tax, depreciation, amortisation, and exploration expenses (EBITDAX), a standard oil industry measure, of 636 million euros... Continue Reading →
TechnipFMC’s figures increase as subsea activities ramp up
TechnipFMC’s Subsea division has reported an adjusted EBITDA of $154.1 million in the second quarter of 2021, a 14% increase compared to the first quarter of the year. The division saw a revenue of almost $1.4 billion, a modest improvement, and an operating profit of $72.4 million, a significant increase from $37 million reported in Q1 2021. The... Continue Reading →
Keppel receives request for arbitration in $42.5M dispute
Two of Keppel Offshore and Marine Limited’s wholly-owned subsidiaries have received a request for arbitration from an unnamed company for two FPSO contracts. Singapore’s conglomerate Keppel Corporation said in an SGX filing that the contracts in question were engineering, procurement, and construction contracts relating to floating production, storage, and offloading (FPSO) units. According to the company, the... Continue Reading →
Seadrill hammers out plan to cut debt by $5 billion and raise $350 million
Bankrupt offshore drilling contractor Seadrill Limited has hammered out a reorganisation plan with its consenting lenders, which will allow it to emerge from Chapter 11 bankruptcy. Seadrill expects to get approval for the plan in early November 2021. To remind, Seadrill filed for Chapter 11 in February 2021. Just last week, it was reported that... Continue Reading →
Portuguese oil company Galp swings to profit but COVID still weighs
(Reuters) - Portuguese oil and gas company Galp Energia (GALP.LS) swung to a net profit in the second quarter thanks to higher crude prices and refining margins, but cautioned on the continued impact of the COVID-19 pandemic. In a statement accompanying the figures on Monday Chief Executive Andy Brown said Galp's financial performance in the first half... Continue Reading →
Schlumberger Issues Bullish Forecast as 2Q Profit Beats Estimates
Oilfield services giant Schlumberger NV issued a bullish forecast for 2021 on Friday as second-quarter profit topped estimates due to surging margins, with a rebound in oil prices boosting demand for its software and equipment. Global crude prices rose 18% in the quarter that ended in June and have climbed 42% since the start of... Continue Reading →
Baker Hughes posts 2Q loss despite signs of global economic recovery
Oilfield services provider Baker Hughes has reported a loss in the second quarter of the year regardless of the company posting an increase in orders and revenues. In its second quarter of 2021 report on Wednesday, Baker Hughes said that its orders in the quarter were $5.1 billion, up 12 per cent sequentially and up four per... Continue Reading →
Buyers reportedly line-up for a crack at Seadrill
Noble Corp and a consortium that includes Transocean Ltd and Dolphin Drilling are competing to acquire the assets of Seadrill Ltd, the bankrupt offshore oil driller controlled by Norwegian-born tycoon John Fredriksen, people familiar with the matter said on Tuesday. Seadrill is trying to emerge from its second U.S. Chapter 11 bankruptcy in four years:... Continue Reading →
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