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April 8, 2020 Petróleo Brasileiro S.A. – Petrobras informs, in addition to the press release disclosed on 04/07/20 about the cancellation of the Annual General Meeting (AGM), that all the dates related to the payment of dividends based on the 2019 annual result are being cancelled, in the amount of R$ 1.7 billion (R$ 0.233649... Continue Reading →
April 7, 2020 - Petróleo Brasileiro S.A. – Petrobras reports that it will release its quarterly production and sales report on April 27th and its financial statements report on May 14th,after the markets close. The company will held two webcasts (Portuguese and English) to present the results, according to the schedule below: May 15, 2020... Continue Reading →
April 7, 2019 Petróleo Brasileiro S.A. – Petrobras informs that S&P Global Ratings Agency (S&P) has changed the company's global credit rating outlook from positive to stable, and has kept the risk level (rating) of corporate debt at "BB-". Yesterday the agency revised Brazil's global credit rating outlook to stable due to the impact of... Continue Reading →
Oil major ExxonMobil is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent in response to low commodity prices resulting from oversupply and demand weakness from the COVID-19 pandemic. Capital investments for 2020 are now expected to be about $23 billion, down from the previously announced $33 billion,... Continue Reading →
Dutch geotechnical survey firm Fugro has announced a set of 'painful measures' including workforce cuts, and a hiring and salary freeze, as the company expects the COVID-19 pandemic and low oil prices to negatively impact its business. "The company is implementing a program to significantly reduce costs and capital expenditure, with the aim of realizing... Continue Reading →
Oil and gas company Tullow Oil has identified further cost savings while its lenders have approved its credit facility with a $1.9 billion of debt capacity. Tullow said on Friday that the company continues to adapt to the challenging external environment. Continue reading
Dutch offshore transportation and dredging giant Boskalis has halted crew changes and will slash spending this year due to the COVID-19 virus crisis, it said on Thursday. The company said that, while its workers work from home where possible, this is not an option for staff working on international projects and vessels. Continue reading
Oilfield services company TechnipFMC is taking a set of actions in response to the current market environment, including a 30% reduction in capex. These actions include a 30% reduction in 2020 capital expenditures to $300 million – a reduction of $150 million when compared to the company’s previous full-year guidance. Continue reading
UK oilfield services provider Wood has decided to implement salary, headcount, and capex reductions as a response to the volatile market conditions. Wood will also be withdrawing its final dividend recommendation. Wood said on Thursday it has taken significant steps to enable its workforce to work from home due to the coronavirus pandemic, resulting in... Continue Reading →
Offshore accommodation services provider Prosafe is still working with its lenders to come up with a financial solution to ensure the company’s long-term stability. Prosafe previously reported it had received consent for temporary payment deferrals and waivers of certain identified defaults under the company’s $1.3 billion and $288 million facilities. These deferrals and waivers have now... Continue Reading →
Brazil Energy Insight 