Brought to you by Quest Offshore & Southern Cone Consultants
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 →
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 →
