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July 24, 2019 Petrobras is expected to start drilling a well in the Sagitario prospectus next quarter, Repsol said in its financial report released Wednesday. The initial forecast was that the activity would take place in the second quarter, but the schedule was postponed. Sagitario was awarded in the seventh round of ANP bids to... Continue Reading →
July 25, 2019 Compared to other countries and other infrastructure sectors (such as electricity, for example), the oil and gas sector makes little use of project finance and other domestic capital market instruments to finance itself, making capital investment more common by the shareholders of the concessionaires. However, this reality may change. After years... Continue Reading →
Rio de Janeiro, July 24, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that the Administrative Board of Tax Appeals (CARF) issued today an unfavorable decision on an administrative tax proceeding which deals with the collection of CIDE - Import tax regarding remittances abroad for the payment of charter contracts in the calendar year of... Continue Reading →
Oceaneering has reported a net loss of $35 million, or 36 cents per share, for the three months ended June 30, 2019. The result compares with net loss of $33 million same time last year. During the prior quarter ended March 31, 2019, Oceaneering reported a net loss of $25 million, or 25 cents per... Continue Reading →
Italian oilfield services player Saipem has reported first-half 2019 profit of €14 million on revenues of €4.5 billion. This result compares to net loss of €323 million on revenues of €3.8 billion for prior-year comparable period. Adjusted result was net profit of €60 million, against €6 million in 1H 2018. Saipem reported first-half 2019 EBITDA... Continue Reading →
Helix Energy Solutions has reported net income of $16.8 million, or $0.11 per diluted share, for the second quarter of 2019 compared to $17.8 million of $0.12 for the same period in 2018. Quarterly revenues fell from $205 million in Q2 2018 at $202 million. Net income for the six months ended June 30, 2019... Continue Reading →
Engineering and construction specialist Subsea 7 has seen its profit cut in the quarter ended June 30, 2019 as activity drop continues in renewables and heavy lift business units. The Oslo-listed firm posted quarterly profit of $24 million, or $9 cents per diluted share, on revenue of $958 million, versus profit of $74 million, or... Continue Reading →
Norwegian oil and gas company Equinor recorded an increase in its second quarter 2019 net income while its earnings were down compared to the last year’s quarter. The company expects to spend less this year, partly due to further savings on the Johan Sverdrup offshore project. Equinor said in its 2Q 2019 report on Thursday... Continue Reading →
Oilfield services provider TechnipFMC booked a smaller profit in the second quarter of the year despite a 16% increase in revenues when compared to the same period last year. In addition, the company achieved record inbound orders and increased backlog by more than 73%. TechnipFMC said on Thursday that total company revenue for the second... Continue Reading →
French oil and gas company Total posted a 26% drop in 2Q net profit as a result of lower oil and gas prices. Total has said it plans to sell about $5 billion worth of assets, mostly from its Exploration & Production business. The company on Thursday posted adjusted net profit of $2.9 billion, a... Continue Reading →
Brazil Energy Insight 