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The Oslo-listed seismic player reported quarterly loss of $111.4 million, or 29 cents per share on revenues of $90 million. This result compares against loss of $49 million, or 14 cents per share on $192 million revenues in the prior-year quarter. The company also booked quarterly impairment and loss on sale of non-current assets and... Continue Reading →
Houston-based offshore services and robotics specialist Helix Energy Solutions has reported profit of $5.5 million, or 4 cents per diluted share, for the second quarter of 2020 compared to $16.8 million profit for the same period in 2019. Sequentially, Helix swung back to black from $11.9 million loss or 9 cents per diluted share. Second... Continue Reading →
Spanish oil and gas firm Repsol posted a quarterly net loss and wrote down $1.5 billion in assets on Thursday as it revised down unusually high expectations for oil and gas prices over the next 30 years. The demand-sapping COVID-19 crisis has piled pressure on a sector already battered by oil prices dragged down by... Continue Reading →
Some oilfield services providers struggling to find work due to the oil industry downturn might replace some of the revenue by providing services in the renewable energy markets. For those in the SURF, maintenance, construction, and installation segments, the opportunities are especially ample, Norway-based energy intelligence firm Rystad Energy said. "Hit by the Covid-19 downturn,... Continue Reading →
July 22, 2020 Petróleo Brasileiro S.A. – Petrobras informs that, in a meeting held today, the Annual General Meeting approved dividends to shareholders in the amount of R$ 1.7 billion for common shares (R$ 0.233649 per share) and R$ 2.5 million for preferred shares (R$ 0.000449 per share) outstanding, based on the 2019 annual result.... Continue Reading →
Marine seismic contractor Polarcus saw its second-quarter revenue fall due to contract cancellations and lower dayrates caused by the slump in oil prices and the oil companies' exploration budget cuts that followed. During the quarter, the company saw its vessel utilization drop to 50%, compared to 72% in Q2 2019. Backlog was approximately USD 141... Continue Reading →
Baker Hughes Co posted its second consecutive quarterly loss on Wednesday and said it would rein in costs as it prepares for a longer period of volatility in oil prices that has crushed demand for its oilfield services. Oil producers halted drilling new wells and drastically cut their budgets following a collapse in crude oil... Continue Reading →
July 21st, 2020 In a challenging context, we presented solid operational performance in 2Q20. The preventive measures against COVID-19 demanded a reduction in the number of shifts in our operations, in which we have been working with 50% of the regular staff. In view of this new scenario for the oil and gas industry, we... Continue Reading →
Jul 21, 2020 Since December, Petrobrás had been receiving bid proposals for the chartering of drill rigs for water depths up to 700 meters. But, after a few postponements, the company decided to cancel the tender, leaving a the companies that worked in the bids and invested funds to prepare the proposals frustrated and at... Continue Reading →
July 21, 2020 Petróleo Brasileiro S.A. - Petrobras informs that it has obtained a favorable and final decision from the Federal Regional Court of the 2nd Region in process that seeks to recover the PIS and COFINS contributions overpaid due to the inclusion of VAT tax (ICMS) in the calculation basis from October 2001 onwards.... Continue Reading →
