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UK-based TechnipFMC has reported fourth-quarter 2020 loss of $39 million or 9 cent per diluted share against $2.4 billion loss same time last year. Adjusted diluted earnings per share was 5 cents, with analysts projecting some 20 cents. Revenue for the quarter was down from Q4 2019 some eight per cent at $3.32 billion and... Continue Reading →
MESSAGE FROM THE CEO Dear Shareholders,I am very happy to present the report on Petrobras financial performance in 2020, a superb performance in a very challenging environment. Amidst a severe global recession and the effects of a major global shock to the oil industry, we promised to engineer a J-shaped recovery. The goal was to... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, informs that its Board of Directors, at a meeting held today, approved dividends to shareholders based on the 2020 annual results in the amount of R$ 10.3 billion, corresponding to R$ 0.787446 per common and preferred share. This value is equivalent to 5% of the share capital, applied to both... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up the press release disclosed on February 19, 2021, in response to the Ministry of Mines and Energy's Official Letter requesting measures to convene an Extraordinary General Meeting (EGM) in order to promote the replacement and election of a member of the Board of Directors, and appointing Joaquim Silva... Continue Reading →
(Reuters) - Brazilian state-run oil group Petrobras recovered some of its recent share price losses on Tuesday as the board met to consider Brazil President Jair Bolsonaro’s nomination of a retired general to replace the company’s market-friendly CEO. Shares in Petroleo Brasileiro SA, as the company is officially known, rose as much as 8% after... Continue Reading →
Helix Energy Solutions has seen its fourth-quarter 2020 profit almost cut in half on lower well intervention activity, slightly offset by its robotics unit. The Houston-based company reported net income of $4.2 million, or $0.03 per diluted share, for the fourth quarter 2020 compared to $8.1 million, or $0.05 per diluted share, for the fourth... Continue Reading →
(Reuters) - Brazil’s securities regulator CVM is investigating the management changes at state-run oil company Petroleo Brasileiro SA, its website showed on Monday, following President Jair Bolsonaro’s announcement last week that he will replace chief executive Roberto Castello Branco. The post on the CVM website gave no details about the investigation, but comes after Petrobras... Continue Reading →
(Reuters) - Petrobras shares traded in New York plunged nearly 17% in premarket trading on Monday as analysts cut ratings on the stock after far-right Brazilian President Jair Bolsonaro moved to replace the state-controlled oil company’s market friendly CEO with a retired army general. Credit Suisse, Scotiabank, Bank of America, Bradesco and XP analysts were... Continue Reading →
(Reuters) - State-led oil company Petrobras’ board is set to meet on Tuesday as its chief executive faces pressure from Brazilian President Jair Bolsonaro to resign amid a disagreement over fuel price policies, sources told Reuters on Friday. The company’s board will discuss Bolsonaro’s efforts to force out Roberto Castello Branco over his insistence on... Continue Reading →
The downturn brought by the Covid-19 pandemic and the accelerating energy transition has created a new reality for the world’s oil and gas industry, whose production will peak lower and earlier than expected before the 2020 market crisis, a Rystad Energy analysis shows. The five integrated supermajors – ExxonMobil, BP, Shell, Chevron, and Total –... Continue Reading →
Brazil Energy Insight 