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Exxon Mobil had the outlook on its top-notch debt rating lowered by Moody’s Investors Service Inc. to negative due to a “substantial” cash burn to fund growth. The oil major’s credit metrics will probably weaken over the next few years as it pursues a rebuild of its upstream portfolio, as well as new chemical facilities... Continue Reading →
Yinson said Tuesday the agreement was reached with both global and local banks to refinance its FPSO John Ayekum Kufuor. The FPSO is currently operating in OCTP Block, offshore Ghana, chartered by Italy’s Eni. “The refinancing allows Yinson to enjoy lower interest rates whilst freeing up capital to be invested in future projects,” Yinson said.... Continue Reading →
Brazil’s real may be sliding toward an all-time low against the U.S. dollar, but the central bank appears in no rush to intervene to slow or even reverse the fall. Despite the real’s historical weakness, the market is functioning smoothly: depreciation, so far, has been fairly orderly, volatility is low, liquidity has not dried up,... Continue Reading →
BW Offshore, a provider of floating production services to the oil and gas industry, has successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023. The Oslo Stock Exchange-listed company said that the settlement of the new bond issue is scheduled... Continue Reading →
Self-funded Growing Business Adds Light Oil Production, Proven Reserves, Low Breakeven Cashflow, Low Risk Development Opportunities, Significant Exploration Resources, Strategic Acreage, New Basin Entry, Carried Exploration Drilling, Cross-border Pipeline, New Partnerships, and Operating and Commercial Synergies Continue reading
Commenting on unconfirmed reports that leading offshore contractors Saipem and Subsea 7 are considering a merger, Audun Martinsen, head of oilfield service research at Rystad Energy, said: “Subsea 7 made an unsuccessful bid to merge with US rival McDermott last year. Now it could be looking at a tie-up with Italy’s Saipem, both of which... Continue Reading →
Nov 15, 2019 Saipem SpA is considering a combination with rival Subsea 7 SA in what could rank as one of the European oil services industry’s biggest-ever deals, people with knowledge of the matter said. The Italian company is pursuing a potential transaction with Norway-listed Subsea 7 as it seeks to bulk up and weather... Continue Reading →
November 14, 2019 PetroRio S.A. (“Company” or “PetroRio”) (B3: PRIO3) in compliance with CVM Instruction 384 as of March 17th, 2003 hereby informs its shareholders and the market in general that as of November 18, 2019, the services of Market Maker will no longer be provided by Genial Institucional Corretora De Câmbio, Títulos E Valores... Continue Reading →
November 14, 2019 ANP projects that production in pre-salt fields will help raise revenues to the public coffers by R$ 300 billion a year, setting a new level that will require greater responsibility in the application of resources The fields auctioned in the TOR and the 6th Pre-Salt Round will help boost the sector’s annual... Continue Reading →
November 14, 2019 Highlights Increase in full year Directional[1] EBITDA guidance to around US$800 million Increase in full year Directional Revenue guidance to around US$2.1 billion Year-to-date Directional revenue at US$1,470 million Projects progressing in line with clients’ schedules Third Fast4Ward® hull allocated to ExxonMobil Payara development Directional Net Debt of US$3.1 billion at end of... Continue Reading →
