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French marine seismic company CGG reported Group net income of $41 million for the first quarter of 2019, compared to the previous year’s 3Q loss of $1.5 million. Group revenue was $323.4 million down $387.7 million in the third quarter of 2018. Operating income was higher in this year’s 3Q coming in at 98 million,... Continue Reading →
Offshore accommodation specialist Prosafe has posted a net loss of $360 million in the third quarter of 2019, compared to a loss of $118 million a year ago. “Due to a prolonged downturn and weaker outlook in the North Sea, in particular, an impairment of $341 million has been made to the book value of... Continue Reading →
U.S. offshore engineering and construction company McDermott reported a loss for the third quarter of 2019 compared to a profit in the same period last year mostly due to charges of $1.5 billion related to impairment. McDermott on Monday reported revenues of $2.1 billion, a net loss of $1.9 billion, and an operating loss of... Continue Reading →
Norwegian offshore vessel owner Solstad Offshore (SOFF) needs more time to complete its restructuring and has therefore agreed an extension of suspension and deferrals of payments under its financing agreements. Late last year Solstad started discussions with its financial creditors and other stakeholders to improve the overall liquidity situation of the group and to create... Continue Reading →
Oil major Chevron saw its profit and revenues drop in the third quarter of the year when compared to the last year’s third quarter affected by lower oil and gas prices. Chevron on Friday reported earnings of $2.6 billion for third quarter 2019, compared with $4 billion in the third quarter of 2018. Included in... Continue Reading →
November 1, 2019 Petróleo Brasileiro S.A. - Petrobras, following on the press release issued on 08/08/2019, reports that its subsidiary Petrobras Biocombustíveis S.A. (“PBIO”) completed today the sale of its 50% stake in Belem Bioenergia Brasil (“BBB”) to Galp Bioenergy B.V. (“Galp”), which holds the other 50% stake in the company. BBB was established in... Continue Reading →
Oil and gas behemoth ExxonMobil reported a 3Q net profit of ~$3.2 billion, a 49 percent fall vs ~$6,25 billion a year ago. The company cited lower prices, and higher growth-related expenses in the upstream division, lower margins in the Chemical and Downstream businesses as some of the reasons behind the drop in earnings. Brent... Continue Reading →
Modec announces 3Q results. For details, please refer to the following link: https://www.modec.com/news/pdf/2019_3q_results_en.pdf
Oct 31, 2019 Quarter Highlights Year-to-date Net Revenue of R$ 1.1 billion. Net Revenue of R$ 399 MM in the quarter, a 78% increase vs 3Q18. Adjusted EBITDA (ex-IFRS 16) of R$ 215.9 MM. Highest ever adjusted EBITDA margin (54%). Company lifting cost reduced to U$S 22,9/bbl, lower than 3Q18 (US$ 26.6/bbl). Highest ever adjusted... Continue Reading →
Oceaneering has reported a net loss of $25.5 million, or 26 cents per share, for the three months ended September 30, 2019. The result compares with net loss of $66 million same time last year. During the prior quarter ended June 30, 2019, Oceaneering reported a net loss of $35 million, or 36 cents per... Continue Reading →
Brazil Energy Insight 