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DOF Subsea, a subsidiary of DOF Group, reported profit in the second quarter of 2019 of NOK 14 million ($1.5 million), compared to loss of NOK 292 million ($32.4 million) in the corresponding period in 2018. Year-to-date result for 2018 came out negative, with loss of NOK 10 million ($1.1 million), against loss of NOK... Continue Reading →
Rosneft PJSC’s second-quarter net income fell as the Russian giant suffered the effects of weaker oil prices and production cuts, but the decline was less severe than analysts expected. While the results show the impact on Rosneft of the Druzhba crisis, in which millions of barrels of exports to central Europe via the Soviet-era pipeline... Continue Reading →
August 20, 2019 Petróleo Brasileiro S.A. - Petrobras reports that the Administrative Board of Tax Appeals (CARF) issued today a favorable decision on an administrative tax proceeding regarding the collection of CIDE - Import tax on remittances abroad for the payment of charter contracts in the year 2013, in the approximate amount of R$ 5.1... Continue Reading →
Offshore drilling contractor Seadrill posted a net loss of $206 million in the second quarter of 2019, compared to a net loss of $432 million in the second quarter of 2018. Adjusted EBITDA for the second quarter was $69 million which was higher than Seadrill’s guidance of $55 million primarily due to the timing of... Continue Reading →
August 16, 2019 Petróleo Brasileiro S.A. – Petrobras reports that it is one of the winning companies of the 2019 Transparency Trophy. The company was among the 10 best in Brazil in the category of publicly traded companies with revenues over R$ 5 billion. The award evaluates criteria such as the quality of the information... Continue Reading →
August 16, 2019 The oil and gas sector can generate investments of around US $ 225 billion over the next eight years in Brazil. If the potential for increased oil activities is confirmed, 474,000 jobs - direct and indirect - are expected to be created by 2022, doubling jobs in the sector. The projections are... Continue Reading →
August 14, 2019 The Petro Rio SA ("PetroRio" or "Company") (B3: PRIO3) presents its results for the second quarter of 2019 ("2Q19"). The financial and operational information described below, except where indicated otherwise, is presented on a consolidated basis and in Reais (R$) in accordance with International Financial Reporting Standards (IFRS) and includes the Company's... Continue Reading →
Tokyo, August 15, 2019 MODEC, Inc. ("MODEC", Head Office: Chuo-ku, Tokyo; President and CEO: Yuji Kozai) is pleased to announce that an affiliate of MODEC has issued a project bond in the international capital markets outside Japan to refinance a Floating Production Storage and Offloading (FPSO) vessel chartered to the TUPI consortium led by Petróleo... Continue Reading →
August 14, 2019 Petróleo Brasileiro S.A. – Petrobras reports that today it fully prepaid a financing contract with China Development Bank (CBD) due in 2024, totaling US$ 3 billion. The company also notified CBD on the advanced payment of another loan, in the amount of US$ 5 billion and whose maturity would be in 2027,... Continue Reading →
August 14, 2019 Petrobras President Roberto Castello Branco told a hearing yesterday at the Senate Infrastructure Commission that the company will invest approximately $ 100 billion over the next 5 years. Asset divestitures, on the other hand, are expected to reach up to $ 35 billion in the period. "These are choices. You take money... Continue Reading →
