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Engineering and construction specialist Subsea 7 has seen red in the fourth quarter 2019 on activity drop in renewables and heavy lift division. The Oslo-listed firm posted quarterly loss of $129 million, or $45 cents per diluted share, on revenue of $889 million, versus profit of $32 million, or $12 cents per diluted share on... Continue Reading →
Oceaneering has reported a net loss of $263 million, or $2.66 per share, for the three months ended December 31, 2019, despite revenue rise. The result compares with net loss of $64 million same time last year. During the prior quarter ended September 30, 2019, Oceaneering reported a net loss of close to $26 million,... Continue Reading →
Houston-based offshore services company Helix Energy Solutions managed to return to quarterly profit on the back of higher revenues driven by higher utilization and integrated services in the Gulf of Mexico. The company on Monday reported net income of $7.9 million for the fourth quarter of 2019 compared to a net loss of $13.7 million... Continue Reading →
U.S.-based Kosmos Energy sank to a loss in the last quarter of 2019 despite a significant increase in revenues compared to the same period of 2018. According to its report on Monday, Kosmos generated a net loss of $35.8 million in the fourth quarter of 2019 compared to a profit of $185.6 million in the... Continue Reading →
DOF Subsea, a wholly-owned subsidiary of DOF Group, reported loss in the fourth quarter of 2019 of NOK 30 million ($3.2 million), compared to loss of NOK 458 million ($49.1 million) in the corresponding period in 2018. Full-year result for 2019 came out negative, with loss of NOK 1.13 billion ($121.4 million), against loss of... Continue Reading →
Feb 21, 2020 Petrobras plans to invest US $ 9 billion in exploration and production in 2020, said the company's production and technology development director, Rudimar Lorenzatto. According to him, of this total, half will be allocated to new projects, including Sépia, Mero, Búzios 5 and Atapu. Petrobras, as a whole, plans to invest US... Continue Reading →
Offshore drilling contractor Valaris booked a bigger quarterly loss as its revenues declined due to fewer rig operating days. Valaris on Thursday reported a net loss attributable to the company of $216 million for fourth quarter 2019 compared to a net loss of $197 million in the third quarter 2019. Revenues declined to $512 million... Continue Reading →
Singapore’s offshore rig builder Sembcorp Marine posted a bigger loss for 2019 when compared to 2018. Quarterly, the company went from black to the red as its revenues dropped by 32% amid low activity levels. Sembcorp Marine on Thursday posted a net loss of S$137 million for the 12 months ended December 31, 2019, compared... Continue Reading →
Feb 20, 2020 PetroRio, the largest independent oil and gas company in the country, recorded record financial results in 2019, a year marked by important acquisitions, with a strong positive impact on the company's production and reserves. For the year, net income reached R$ 688.4 million, an increase of 236% compared to 2018. Net revenue,... Continue Reading →
February 20, 2020 Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, at a meeting held yesterday, approved dividends to shareholders, in the amount of R$ 1.7 billion to common shares (R$ 0.233649 per share) and R$ 2.5 million to preferred shares (R$0.000449 per share), based on the 2019 annual results. The adjusted... Continue Reading →
Brazil Energy Insight 