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Brazilian oil and gas company Enauta has come to an agreement with Dommo Energia regarding all of the ongoing legal proceedings pertaining to the Atlanta Field offshore Brazil. This has been a long ongoing dispute dating back to 2017. At the time, Barra Energia exercised the rights to expel Dommo Energia from Block BS-4 which... Continue Reading →
(Reuters) Chevron Corp's (CVX.N) first-quarter profit fell 29% compared with the same period a year ago as gains from oil and gas prices were undercut by weaker refining margins, production losses and the impact of an asset sale that benefited results last year. Oil companies are generally enjoying a recovery in energy prices, up at least a... Continue Reading →
NOV Inc. (NYSE: NOV) reported first quarter 2021 revenues of $1.25 billion, a decrease of six percent compared to the fourth quarter of 2020 and a decrease of 34 percent compared to the first quarter of 2020. Net loss for the first quarter of 2021 was $115 million, or 9.2 percent of sales, which included... Continue Reading →
Subsea 7 S.A. (the Group) (Oslo Børs: SUBC, ADR: SUBCY, ISIN: LU0075646355) announced today results for the first quarter which ended 31 March 2021. First quarter highlights First quarter 2021 revenue up 33% year-on-year to $1.0 billionAdjusted EBITDA up 50% to $102 million after incurring net Covid-19 costs of approximately $9 millionOrder intake of $0.8... Continue Reading →
Seismic exploration company Shearwater GeoServices has acquired marine seismic acquisition assets previously owned by Polarcus. Shearwater announced two transactions agreed with Tiger Moth, a company affiliated with Woodstreet, for Polarcus assets which are controlled by the lenders from January 2021. Shearwater has acquired streamers and related seismic equipment for a total cash consideration of $50 million. The... Continue Reading →
Norwegian oil and gas company Aker BP has booked a profit and saw higher income in the first quarter of the year due to higher realised prices and an increase in sold volume compared to the previous quarter. Aker BP had a total income in the first quarter of 2021 of $1,133 million, a rise... Continue Reading →
Offshore drilling contractor Valaris booked a $910 million loss in the first quarter of the year but hopes to re-emerge from bankruptcy sooner rather than later. Valaris on Wednesday reported a net loss of $910 million for the first quarter of 2021 compared to a net loss of $71 million in the fourth quarter of... Continue Reading →
(Reuters) French energy group Total SE (TOTF.PA) posted first-quarter earnings on Thursday close to levels from before the coronavirus pandemic, as higher oil and gas prices boosted its trading business and it increased electricity production. The company, which is branching into renewable energy and diversifying away from hydrocarbon-centred activities, benefited from this drive as areas like oil... Continue Reading →
Equinor (STOHF) (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of USD 5.47 billion and USD 2.66 billion after tax in the first quarter of 2021. IFRS net operating income was USD 5.22 billion and the IFRS net income was USD 1.85 billion. The first quarter of 2021 was characterised by: Strong results due to price... Continue Reading →
Royal Dutch Shell's (RDSa.L) profits leapt to $3.23 billion in the first three months of the year and the energy company raised its dividend as planned but warned that the outlook remained uncertain due to the coronavirus pandemic. Shell's adjusted earnings were above an average analyst forecast of $3.125 billion and also ahead of earnings of $2.9... Continue Reading →
