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Occidental Petroleum is selling bonds to help finance its $38 billion acquisition of Anadarko, as debt issuers show faith in Tuesday’s market rebound. Occidental is selling bonds in as many as 10 parts, according to a person with knowledge of the matter. The longest portion of the offering, a 30-year security, may yield 2.7 percentage... Continue Reading →
UK’s marine engineering services provider James Fisher and Sons has decided to acquire a 60% of the share capital of Continental Participação E Administração Ltda., the holding company of Serviços Marítimos Continental S.A. James Fisher said on Wednesday that the acquisition will be done for a total cash consideration of £7.5 million ($9.1M), where £4.9m is... Continue Reading →
Aug 5, 2019 Willing to take advantage of the window of opportunity that the market offers in terms of interest rates and assets for sale, PetroRio is preparing to issue dollar funds next month that will give it the firepower to buy assets and develop those that already exist. The company has consulted with investors... Continue Reading →
Aug 5, 2019 Diamond Offshore Drilling (DO) came out with a quarterly loss of $0.99 per share versus the Zacks Consensus Estimate of a loss of $0.89. This compares to loss of $0.33 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -11.24%. A... Continue Reading →
August 2, 2019 – Petróleo Brasileiro S.A. – Petrobras informs that today Centrais Elétricas Brasileiras S.A. - Eletrobras settled in advance R$ 1.275 billion of the outstanding balance of the Debt Assumption Agreement signed on December 3, 2018. With this payment, the remaining outstanding balance of all Debt Assumption Agreements that Petrobras holds against Eletrobras... Continue Reading →
Aug 2, 2019 Petrobras President Roberto Castello Branco said that the company is reviewing its strategic plan and expects to announce to the market the new strategy in November. He pointed out that the plan will focus on cost reduction. "We want to bridge the gap that separates us from our peers," he said in... Continue Reading →
Exxon Mobil Corp (XOM.N) reported a 21% drop in quarterly profit on Friday, hit by weaker natural gas prices, lower refining profits and a loss in its U.S. chemicals business. The largest U.S. oil producer’s net income fell to $3.13 billion, or 73 cents per share, in the second quarter, from $3.95 billion, or 92... Continue Reading →
Offshore drilling contractor Noble Corporation reduced its quarterly loss as its revenues grew during the second quarter of 2019, but the company was affected by a charge related to the Paragon Offshore spinoff. Noble on Thursday reported a net loss attributable to the company for the second quarter 2019 of $152 million, on total revenues... Continue Reading →
Oil major Chevron Corporation saw an increase in its quarterly earnings boosted by record production volumes driven by growth in the Permian Basin and at Wheatstone in Australia. Chevron on Friday reported earnings of $4.3 billion for second quarter 2019, compared with $3.4 billion in the second quarter of 2018. Included in the current quarter... Continue Reading →
August 1, 2019 Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held today, approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total gross amount of R$ 2,608,840,252.20, corresponding to R$ 0.20 per outstanding common and preferred share. The payment will be made on... Continue Reading →
Brazil Energy Insight 