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July 30, 2019 – Petróleo Brasileiro S.A. - Petrobras (“Petrobras”) (NYSE: PBR) announced today the final results of its previously announced debt tender offers (the “Waterfall Offers”). As of 11:59 p.m., New York City time, on July 29, 2019 (the “Expiration Date”) holders of US$1,853,874,000 principal amount of the outstanding notes of the series set... Continue Reading →
Transocean (RIG) came out with a quarterly loss of $0.34 per share versus the Zacks Consensus Estimate of a loss of $0.33. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.03%. A quarter ago, it was expected... Continue Reading →
U.S.-based EPCI company McDermott International booked a loss of $146 million for the second quarter of 2019, but the company is encouraged by its record-setting level of backlog. McDermott on Monday reported revenues of $2.1 billion for the second quarter of the year. In the same period last year, McDermott recorded revenues were $1.7 billion.... Continue Reading →
Exxon Mobil Corp’s (XOM.N) plan to accelerate asset sales, a way of delivering needed cash to finance shareholder returns and major projects, is getting off to a slow start as oil companies pull back on big deals. On Friday, the largest U.S. oil company is expected to report a 79-cents-a-share profit, down from 92 cents... Continue Reading →
A strong rise in oil and gas production helped BP (BP.L) offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares. BP’s second quarter contrasts with Total (TOTF.PA) and Norway’s Equinor (EQNR.OL), which posted sharp earnings drops, and builds on a steady recovery after deep cost cuts since... Continue Reading →
Anadarko Petroleum Corp (APC.N), in its last earnings report before shareholders vote on its sale to Occidental Petroleum (OXY.N), on Friday reported a quarterly profit that topped analysts’ estimates, as higher production offset lower prices for its oil. It reported a net loss on a $1 billion breakup fee paid to Chevron Corp (CVX.N). Anadarko... Continue Reading →
Mexico’s state oil company Pemex posted another quarter of major losses on Friday, weighed down by falling output and lower crude prices, as the heavily indebted firm faces the prospect of a fresh downgrade from credit agencies critical of its direction. President Andres Manuel Lopez Obrador has pledged to rescue the ailing Mexican oil giant... Continue Reading →
July 25, 2019 -Petróleo Brasileiro S.A. – Petrobras, pursuant to article 24 of CVM Instruction 400 of December 29, 2003, as amended, reports that today the overallotment option (“Greenshoe Option”) was fully exercised under the secondary public offering of shares issued by Petrobras Distribuidora SA (“BR”) and held by Petrobras. With the exercise of the... Continue Reading →
Italian oil and gas company Eni saw its profit drop by 66% in the second quarter 2019 when compared to the same period last year. Eni reported on Friday that its adjusted operating profit for 2Q 2019 was €2.28 billion, down by 11% q-o-q and adjusted operating profit of €2.56 billion. Excluding the impact of... Continue Reading →
July 25, 2019 Petróleo Brasileiro S.A. - Petrobras reports that it received this week R$ 425 million as a result of leniency agreements and repatriations carried out by the Federal Prosecutor’s Office. Thus, the total amount of funds returned to the company as a result of cooperation, leniency agreements and repatriation exceeds R$ 4 billion.... Continue Reading →
Brazil Energy Insight 