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Oil and gas giant Shell’s current cost of supply earnings, excluding identified items, in the third quarter of 2019 fell 15 percent. CCS income was ~$4,8 billion, down from ~$5,6 billion a year ago. The third-quarter revenue was $86,6 billion, down from $100,1 billion a year ago. Shell on Thursday said that compared with the... Continue Reading →
Spanish oil company Repsol reported a drop in 3Q 2019 profit. Net profit for the quarter was 333 million euros, a 46,7% drop from 625 million euros in 3Q 2018. Adjusted net income in the third quarter was €522 million, 11% lower year-on-year. In Upstream, adjusted net income was €218 million, €150 million lower than... Continue Reading →
Oct 31, 2019 Brazilian oil company Petrobras has reportedly managed to sell the ultra-deepwater drillship Vitoria 10000 after its first auction received no bids. According to the Norwegian rig broker Bassoe Offshore, the drillship was sold earlier this week for around $15 million. “The second auction for the Petrobras-owned drillship, Vitoria 10000, the highest bid... Continue Reading →
Baker Hughes has reported profit of $57 million or 11 cents per share on GAAP basis for the quarter ended September 30, 2019. The result compares with $13 million profit in Q3 2018, and $9 million loss sequentially. Adjusted net income (non-GAAP) attributable to Baker Hughes was $114 million, up 46% from same time last... Continue Reading →
French oil major Total recorded a decrease in its 3Q 2019 profit affected by lower oil and gas prices despite an increase in production. Total’s adjusted net profit was $3.02 billion in the third quarter of 2019, a 24% decrease when compared to the same period last year and the adjusted net profit of $3.96... Continue Reading →
Slumping revenues pushed Mexico's Petroleos Mexicanos to a net loss of 87.4 bln pesos ($4.43 billion) in the third quarter, but the struggling state oil firm said on Monday it had cut back its hefty debt load, bucking the trend of recent years. Pemex, as the company is generally known, held financial debts of $106... Continue Reading →
Affected by impairments for three retired rigs, offshore drilling contractor Transocean more than doubled its losses in the third quarter of the year when compared to the last year’s 3Q. According to Transocean’s quarterly report published on Monday, the company’s total contract drilling revenues were $784 million in 3Q 2019, compared to $816 million in... Continue Reading →
BP’s third-quarter results took a hit due to lower oil prices, maintenance works, hurricane impacts, and a divestment charge. Underlying replacement cost profit for the third quarter of 2019 was $2.3 billion, compared to $3.8 billion a year earlier. The result was impacted by significantly lower Upstream earnings, resulting from lower prices, maintenance and weather... Continue Reading →
Offshore drilling contractor Diamond Offshore nearly doubled its losses as its revenues dropped in the third quarter of 2019 when compared to the same period in 2018. Diamond has also secured a new contract for one of its semi-submersible rigs with Woodside. Diamond on Monday posted revenues of $254 million for the third quarter of... Continue Reading →
10/25/2019 Petrobras intends to use the R $ 34 billion it will receive from the Federal Government from the auctiont of the Transfer of Rights, scheduled for November 6. The auction will offer the right to extract oil and gas in areas in the pre-salt polygon granted to Petrobras in 2010. Chief Financial and... Continue Reading →
Brazil Energy Insight 