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Apr 17, 2020 Times of crisis in the industry are forcing Petrobras to reassess contracts with its suppliers. But the president of the state-owned company, Roberto Castello Branco, guaranteed on Friday (17) that he will not make renegotiations with small companies, to maintain the integrity of the national supply chain. In the executive's assessment, this... Continue Reading →
April 17, 2020 Petróleo Brasileiro S.A. – Petrobras announces that the rating agency S&P Global Ratings (S&P) affirmed the ”BB-“ global scale rating for Petrobras, with a stable outlook. The stand-alone credit profile remained at "bb", one notch above the sovereign. S&P highlighted that the company's liquidity position remains strong despite forecasted lower operating cash... Continue Reading →
Seabed Geosolutions is feeling the impact of the COVID-19 pandemic on its activity. A significant ongoing project in the Middle East has been cancelled and another project that was scheduled to start imminently in Brazil has been postponed. Continue reading
Oilfield services provider Schlumberger took an $8.5 billion charge in the first quarter of the year rocked by the low oil price environment and the coronavirus pandemic. Schlumberger said in its report on Friday that its worldwide revenue in 1Q 2020 was $7.5 billion, a 9 per cent decrease sequentially and 5 per cent decrease... Continue Reading →
This report is aimed at providing detailed information on collection of taxes and participations made by Petrobras S.A. in 2019, on a cash basis. Read Report - PBR 2019 Tax Report
Italian oilfield contractor Saipem has decided to withdraw its 2020 guidance, reserving the right to issue a new one should the market conditions improve. After a meeting of the Saipem board of directors, chaired by Francesco Caio, the company on Wednesday opted to withdraw its previously announced guidance for the year. Continue reading
Yinson has completed an $800 million refinancing exercise for FPSO John Agyekum Kufuor, with the loan drawn down on April 14. The FPSO firm had announced the refinancing deal for the FPSO located in Ghana back in November 2019. The company at the time said it had signed an agreement with 13 local and international... Continue Reading →
In response to the COVID-19 pandemic and a significant decline in oil and gas demand and prices, Noble Energy is focusing on liquidity and balance sheet strength. With that in mind, Noble has further reduced its 2020 capex, executive team salaries, and implemented a furlough program for employees. “Recent events have had an unprecedented and... Continue Reading →
Apr 14, 2020 The oil price crisis, aggravated by the drop in demand due to the new coronavirus pandemic, forces large oil companies to cut costs, cut investments and concentrate efforts on more profitable assets. The scenario, however, is more complex for small and medium producers, who, in general, have fewer opportunities to reduce costs... Continue Reading →
Oilfield services provider Baker Hughes Co on Monday wrote down the value of its assets by $15 billion as plunging oil prices and the coronavirus pandemic hit demand and forced oil producers to cut back drilling. Producers have so far cut 2020 spending by about 30% or $37 billion, according to data compiled by Reuters, after a price war... Continue Reading →
Brazil Energy Insight 