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Petronas's first-quarter profit more than doubled on the back of recovering commodity prices, but the Malaysian state oil firm cautioned demand prospects hinged on vaccines preventing a resurgence of the COVID-19 pandemic. Petronas said on Monday it made a post-tax profit of 9.3 billion ringgit ($2.25 billion) in January-March, against 4.5 billion ringgit in the same quarter... Continue Reading →
Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), in accordance with the provisions of Instruction No. 358, of January 3, 2002, as amended, issued by the Brazilian Securities and Exchange Commission (“CVM”), informs its shareholders and the market in general that PetroRio Luxembourg S.à.r.l., incorporated under the laws of the Grand Duchy of Luxembourg (“PetroRio... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, further to the press release dated January 29, 2020, announces that the District Court of Rotterdam (the Court) yesterday rendered an interim judgment regarding the admissibility of the collective action filed in 2017 by Stichting Petrobras Compensation Foundation (the Foundation) in the Netherlands against Petrobras and other defendants. The Foundation... Continue Reading →
Seadrill Partners, an affiliate of offshore drilling firm Seadrill, said Tuesday it had emerged from Chapter 11 bankruptcy for which it had filed in December 2020. The company said it has successfully completed its reorganization, turning around $2.8 billion in funded debt obligations into equity, and leaving the company debt-free on emergence. As part of the reorganization plan, new... Continue Reading →
(WO) Shell Oil Company, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V. (a subsidiary of Petroleos Mexicanos, or Pemex). The transaction will transfer Shell’s interest in... Continue Reading →
(OE) Global energy transition is creating uncertainty for an estimated $14 trillion worth of oil and gas assets that have long depended on an indefinite rise in demand to offset risks despite a pandemic boost this year, consultancy Wood Mackenzie said on Thursday. As the world recovers from the COVID-19 pandemic, oil and gas demand... Continue Reading →
(Reuters) Offshore drilling rig contractor Maersk Drilling (DRLCO.CO) said on Thursday it saw some signs of market recovery as it reported that orders in the first quarter were at the highest level in more than three years. The company, which had already on Wednesday lifted its 2021 earnings guidance, said it added $730 million in new contracts... Continue Reading →
Danish offshore drilling company Maersk Drilling on Wednesday upgraded its financial guidance for the year 2021, on the back of improved contracting performance. "Maersk Drilling continues to demonstrate strong commercial and operational performance. Over the past months, Maersk Drilling has secured several new drilling contracts for execution in 2021, and further, Maersk Drilling has successfully - and... Continue Reading →
TGS-NOPEC Geophysical Company (TGS) has reported a revenue of $186 million in the first quarter of 2021, an increase of 256% compared to $52 million in Q1 2020. EBITDA was $162 million and the operating result was $69 million, compared to $26 million and $-58 million, respectively, in the first quarter of the prior year.... Continue Reading →
Russia's largest oil producer Rosneft on Friday reported first-quarter net income of 149 billion roubles ($2 billion), buoyed by a recovery in oil prices, after a $2.1 billion loss a year earlier. Earnings at the group, which is around one-fifth owned by BP, have been boosted by a 20% annual increase in oil prices, supported... Continue Reading →
