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Oilfield services provider Schlumberger recorded a 14 percent increase in its second quarter 2019 net profit while expecting oil market sentiments to remain balanced. Schlumberger has also revealed that its CEO will retire after eight years in the role and the company has already lined up a replacement. Schlumberger on Friday posted revenues of $8.27... Continue Reading →
Singapore’s offshore drilling rig and vessel construction company Keppel O&M has returned to profit in the first half of 2019. The order book is at 2016 high, with a large chunk of new orders coming from renewables and LNG sectors. Keppel has also employed more than 700 people in 2Q. According to Keppel Corporation’s results... Continue Reading →
July 18, 2019 The Court of Auditors of the Union (TCU) yesterday questioned the competence of the National Energy Policy Council (CNPE) to define the areas of the auction rounds in the sharing regime. The position of the court ministers was based on the fact that there is a lack of transparency in the selection... Continue Reading →
Finland’s Wartsila Oyj (WRT1V.HE) missed second-quarter forecasts on Thursday and warned that it expected demand to weaken for both its marine and energy businesses, sending shares in the engineering firm to a three-year low. Comparable operating profit in April-June fell to 113 million euros ($127 million) from 123 million euros a year earlier and missed... Continue Reading →
July 17, 2019 Sete Brasil creditors will meet August 9 to deliberate on Magni Partners' new and seemingly final offer to acquire the Urca, Frade, Arpoador and Guarapari rigs. After four months of negotiations, the group raised the value of its proposal from US $ 250 million to US $ 296 million, ensuring contractual improvements.... Continue Reading →
Rio de Janeiro, July 16, 2019 - Petroleo Brasileiro S.A. – Petrobras, focusing on providing greater transparency in its information, reports that as from this quarter, it will disclose the production and sales report prior to the company's financial statements report. On July 25th, after market closes, the company will release its quarterly production and... Continue Reading →
July 16, 2019 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announced today the early results of its previously announced debt tender offers (the “Waterfall Offers”). As of 5:00 p.m., New York City time, on July 15, 2019 (the “Early Tender Deadline”) holders of US$1,790,166,000 principal amount of the outstanding notes of the series... Continue Reading →
Overhauling the bloated public pension system has been a ubiquitous topic among Brazil investors for years now, the change nearly every money manager would cite when asked what the country needed most. Now that it’s finally here, traders seem to want a whole lot more. The revamp, which is expected to save the government almost... Continue Reading →
The surprise departure of Mexico’s finance minister has the state oil company’s watchers biting their nails. Carlos Urzua resigned Tuesday, citing conflicts of interest and policy disagreements within Andres Manuel Lopez Obrador’s administration. That sent the peso plunging as much as 2.3%, and stocks sliding. Yields on both sovereign and Petroleos Mexicanos bonds surged, reflecting... Continue Reading →
The sale of state-owned assets is expected to drive M&A transactions and share offerings volume in Brazil in the second half of the year, bankers and investors said, after a slower-than-expected first half. As court injunctions delayed asset sales by oil company Petroleo Brasileiro SA (PETR4.SA) and discussion of pension reform dragged on in Congress,... Continue Reading →
