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TechnipFMC’s Subsea division has reported inbound orders of $1.5 billion in the first quarter of 2021, more than double compared to the fourth quarter of the prior year. Subsea reported first-quarter revenue of $1.3 billion, an increase of 10.6 per cent from the same period in 2020, said to be largely driven by higher project... Continue Reading →
ConocoPhillips reported first-quarter profit that beat Wall Street expectations on Tuesday as vaccines-led return of travel demand and a winter storm that swept parts of the United States in February boosted prices for oil and gas. Higher crude prices and deep cost cuts implemented last year at the peak of a downturn are helping U.S.... Continue Reading →
State-run oil producer Saudi Aramco beat analysts' forecasts on Tuesday with a 30% rise in first-quarter net profit and maintained its dividend payout, helped by strong oil prices. Earnings by global energy companies such as Exxon Mobil have climbed on the back of rising crude prices, which are up by about a third this year,... Continue Reading →
Offshore drilling contractor Valaris, which had filed for bankruptcy in August 2020, said Monday it had on April 30, 2021, successfully completed its financial restructuring and emerged from chapter 11. The Valaris Group's Plan of Reorganization was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021. ... Continue Reading →
Petro Rio S.A. ("Company" or "PetroRio") (B3 ticker: PRIO3) in accordance with CVM Instructionº 358/2002, announces to its shareholders and the market that the Board Meeting held on April 30, 2021 has approved a 5-for-1 stock split of Company shares, so that each share will be represented by 5 (five) shares. 702,664,676 new common shares... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on April 28, 2021, informs that it has entered into a contract and completed today the sale of its remaining 10% interest in Nova Transportadora do Sudeste S.A. (NTS) to Nova Infraestrutura Gasodutos Participações S.A. (NISA), a company formed by Nova Infraestrutura Fundo de... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on March 28, 2019, informs that it has extended part of the Revolving Credit Facility (RCF) maturing in March 2024, in the amount of $3.25 billion, for two more years. Thus, 63% of the total amount of the credit line, that is, US$ 2.05... Continue Reading →
(Reuters) Petroleos Mexicanos (PEMX.UL) said on Friday its losses narrowed 93% in the first quarter after higher sales, lower imports and tax cuts eased pressure on Mexico's highly indebted state oil company. Pemex, as the company is known, said the net loss of 37.297 billion pesos ($1.8 billion) shrank from 562.130 billion pesos in the... Continue Reading →
Italian oil and gas company Eni booked a net profit of over $1 billion in the first quarter of the year due to a strengthened upstream price environment. Eni said in its financial report on Friday posted a net profit of €856 million ($1.034 billion) due to a strengthened upstream price environment in the first... Continue Reading →
U.S. supermajor ExxonMobil booked a quarterly profit due to benefits of higher commodity prices and structural cost reductions. ExxonMobil last Friday posted estimated earnings of $2.7 billion in the first quarter of 2021 compared with a loss of $610 million in the same quarter last year. The company stated that the positive results reflect the benefits... Continue Reading →
