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 →
Wärtsilä Sees Rise in Order Intake. Expects Growth in 3Q
Finland-based marine and energy equipment maker Wärtsilä expects the third quarter of the year to be better than the corresponding one of 2020 but has warned that prevailing market conditions make the outlook uncertain. The company made the statement Tuesday as part of the release of its second-quarter results. In the second quarter of 2021,... Continue Reading →
Halliburton profit jumps 33% as oilfield activity rebounds
(Reuters) - Halliburton Co (HAL.N) on Tuesday reported a 33.5% jump in second-quarter profit from the previous three months, as a rebound in crude prices from pandemic lows buoyed demand for oilfield services. Global crude prices climbed 18.2% in the quarter ended June 30 and are up about 37% since the start of the year. The bump... Continue Reading →
Norway’s Aker BP operating profit misses as field maintenance hits volumes
(Reuters) - Norway's Aker BP (AKERBP.OL) missed second-quarter operating profit expectations as field maintenance hit output and exploration costs rose, the independent oil and gas firm's results showed on Thursday. Earnings before interest and tax (EBIT) for April-June jumped to $614 million from $178.5 million a year earlier but were below the $668 million expected by analysts... Continue Reading →
Looming loss piles pressure on turbine maker Siemens Gamesa
(Reuters) - Shares in Siemens Gamesa (SGREN.MC) fell more than 18% on Thursday after the wind turbine maker's second profit warning in less than three months due to spiralling raw materials prices and the cost of delivering its new onshore platform. The warning of a possible loss this year had a knock-on effect on parent Siemens Energy (ENR1n.DE),... Continue Reading →
Brazil: PetroRio Connects Polvo and Tubarao Martelo Fields. Eyes Significant OPEX Cut
Brazilian oil firm PetroRio said Wednesday it had completed the tieback between the Polvo and Tubarão Martelo offshore fields, a move that will slash its operational costs as there would no longer be a need for a chartered FPSO. According to PetroRio, the tieback project between the Polvo-A Platform and the Bravo FPSO was completed... Continue Reading →
Petrobras Extends Another Drillship Contract – Etesco
(PetroleoHoje) After extending the charter period for the Petrobras 10.000 drillship, Petrobras extended the contract for the drillship Etesco Takatsugu J with Etesco for another three years. The deadline, which would expire in April 2022, was extended until April 2025. The rig's daily rate during this extension period will be reduced to around US$ 230,000.... Continue Reading →
Petrobras signs contract for the sale of the Papa-Terra Field
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 04/17/2020 and 11/24/2020, informs that it has signed with the company 3R Petroleum Offshore S.A. (3R Offshore) a contract for the sale of the totality of its participation in the Papa-Terra production field, located in the Campos Basin. The amount of the sale... Continue Reading →
PETROBRAS ANNOUNCES INVESTMENTS FOR REDUC AND REVAP AND FORESEES R$ 2.5 BILLION FOR THE REFINING SEGMENT
Determined to increase its production capacity of Diesel S-10 in the coming years, Petrobras announced new investments in the Duque de Caxias (Reduc) and Henrique Lage (Revap) Refineries. Previously, the company had already announced that it would expand another of its plants, the Paulínia Refinery (Replan). The state-owned company claims that the refining segment will... Continue Reading →
