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(Bloomberg) -- Neither the incoming nor the outgoing CEO of state-controlled oil giant Petroleo Brasileiro SA is an oil man. Neither in fact had ever worked a day in the industry before being nominated to the job. But that’s where the similarities between Joaquim Silva e Luna and Roberto Castello Branco end. Whereas Branco is... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, in a meeting held today, approved the proposed incorporation of Companhia de Desenvolvimento e Modernização de Plantas Industriais (CDMPI). The incorporation aims at simplifying and optimizing the corporate structure of Petrobras. Since this is an incorporation of a wholly-owned subsidiary, there will be no... Continue Reading →
Subsea 7 has recognised a major loss in 2020, mostly on impairment charges, but increased its backlog by 20 per cent and kept revenue down only five per cent compared to 2019. The engineering and construction specialist recognised 2020 net loss of $1.1 billion, against loss of $82 million in 2019. In the full year... Continue Reading →
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 →
