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Baker Hughes, General Electric Co's oilfield services arm, reported a better-than-expected quarterly profit on Wednesday, helped by higher activity in LNG markets and rise in international demand for oilfield services. Revenue from the company's oilfield services segment, which constitutes a majority of its operations, rose 14% to $3.26 billion in the second quarter. Continue reading
Fugro is looking to sell its stake in Seabed Geosolutions, a joint venture company with French seismic player CGG. The Dutch subsea and survey specialist said it has stepped up its efforts, in consultation with its co-shareholder, to divest its 60 per cent interest in ocean bottom seismic specialist formed in 2013. Continue reading
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 →
