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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 →
In another sign of improving deepwater market conditions, drillship day rates are on-the-rise from Canada to China, judging by a new report by numbers crunchers, Rystad Energy. Although not the only deepwater floaters, drillships are still on order at Asian shipyards, just as drillship day rates approach the $300,000 mark. Continue reading
19/02/2020 Highlights of the 2019 result: • Adjusted EBITDA was US$ 32.7billion, an increase of 3.8% in relation to 2018, due to lower production costs and lower contingencies. • Net income reached US$ 10.2 billion, mainly reflecting gains with asset sales. • The adjusted net debt / LTM Adjusted EBITDA ratio increased to 2.41x, applying... Continue Reading →
Offshore drilling contractor Noble Corporation has managed to keep its net loss flat in the last quarter of 2019 while its revenues increased during the period. Noble Corp. CEO is getting ready to transition to the role of an executive chairman. Noble Corporation today reported a net loss attributable to the company for the three... Continue Reading →
Feb 20, 2020 MESSAGE FROM THE CEO THE FIRST YEAR OF THE IMPLEMENTATION OF A NEW STRATEGY I am pleased to share the results of a year of hard work, with the implementation of a new strategy for Petrobras, based on a transformational agenda supported by five pillars: maximization of the return on capital employed,... Continue Reading →
Spain's Repsol on Thursday reported a 36% fall in adjusted net profit and a net loss for the fourth quarter of 2019, battered on all sides by lower oil and gas prices and one-off charges mainly related to a bid to cut carbon emissions. Oil majors around the world have posted steep falls in 2019... Continue Reading →
Marine geophysical firm PGS and artificial intelligence (AI) software-as-a-service (SaaS) company Cognite are teaming up in an effort to make seismic survey vessels work better, faster and more efficiently. Venturing into a new area of the energy sector, Cognite has launched a digitalization project with Norway’s PGS, a leader in subsurface seismic imaging, to optimize... Continue Reading →
Offshore drilling contractor Transocean has booked a loss for the last quarter of 2019 as its revenues increased. However, the company has reduced the loss sequentially and year-over-year helped by gain on termination of construction contract, tax items, and disposal of assets, but partially offset by impairments and restructuring costs. Transocean’s contract drilling revenues were... Continue Reading →
Global oil firms are preparing to spend more than $53 billion in Guyana’s coveted Stabroek Block during the coming decade. According to Rystad Energy research, recent discoveries in the Guyana-Suriname basin have proven a wider petroleum system and may cause an upgrade in resource estimates, drawing extra attention to upcoming wells. Continue reading
