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French oil major Total has started oil production from the Zinia Phase 2 project offshore Angola, connected to the existing Pazflor FPSO. The Zinia Phase 2 project includes the drilling of nine wells and is expected to reach a production of 40,000 barrels of oil per day by mid-2022. Located in water depths from 600... Continue Reading →
(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina reports its consolidated financial results for the three-month period (“First Quarter” or “1Q2021”). A conference call to discuss 1Q2021 financial results will... Continue Reading →
( OE) Offshore drilling contractor Noble Corp. has reportedly submitted a bid to acquire some assets of rival Seadrill. This is according to Reorg, a website providing credit intelligence, data, and analytics for hedge funds, asset managers, investment banks, law firms, and financial advisors. In a brief article (paywall) published Wednesday, Reorg, citing unnamed sources, said that... Continue Reading →
Aker Solutions has reported growth in both earnings and order intake in the first quarter of 2021, with about 35 per cent of new contracts related to the energy transition. In Q1 2021, Aker Solutions saw an EBITDA of NOK 427 million (approximately EUR 42.5 million), with a margin of 6.6 per cent, an increase... Continue Reading →
(epbr) The Company raised R$ 1.1 billion on the stock exchange with a share price of R$ 14.75. The value was defined below the initial indicative price range, from R$ 15.50 to R$ 19.50. Negotiations at B3 begin on Wednesday (5). - The objective is the acquisition of upstream mature assets. About 66% of the... Continue Reading →
(Reuters) Siemens Energy (ENR1n.DE), which supplies turbines to the power sector, on Wednesday lowered the upper end of its target range for 2021 sales, hurt by weaker-than-expected demand, project delays and the ongoing coronavirus crisis. Revenues are now expected to grow 3-8% in the year to September, compared with a previous range of 2-12%. According to... Continue Reading →
(Offshore Energy) Just like its rival Transocean, offshore drilling contractor Noble Corporation, which has recently marked its 100th anniversary, is optimistic about the market outlook for its rig fleet with a pipeline of tender opportunities developing on the horizon as well as higher day rates. Noble Corporation celebrated its one-hundred-year anniversary about a month ago, but that... Continue Reading →
Colombia's majority state-owned oil company Ecopetrol on Tuesday reported a soaring first-quarter net profit of 3.09 trillion pesos ($806.5 million) for this year, buoyed by improved oil prices and with the backdrop of a dismal comparative period in 2020. The oil company reported a net profit of 133 billion pesos in the first quarter of 2020, following a global slump in oil prices... Continue Reading →
Singapore-based Sembcorp Marine continues to face COVID-19 supply chain constraints and shortage of skilled workers, the company said announcing its Q1 results. The workforce shortage has been ascribed to the ongoing travel bans caused by the pandemic, as foreign workers, primarily those from India and Bangladesh, are unable to return to Singapore. Specifically, the Ministry... Continue Reading →
Following new contract awards to three of its ultra-deepwater drillships, two of which are idle, and one harsh environment rig, Transocean is optimistic that oil prices will remain constructive and drive an increase in contracting through the rest of the year. Transocean released its financial report for the first quarter of the year on Monday, revealing its... Continue Reading →
