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Norwegian offshore seismic services company Axxis Geo Solutions will file for court-protected restructuring, it said Tuesday. Axxis said it had not been able to reach an agreement with all creditors in order to implement a voluntary solution to refinance the company. "Consequently, and as previously reported, the Company will file for court-protected reconstruction," Axxis Geo... Continue Reading →
Oilfield services company TechnipFMC on Tuesday said it had completed its spin-off transaction to create two independent, publicly traded companies, TechnipFMC and Technip Energies. TechnipFMC, created in 2017 through a merger between France-based Technip and U.S.-based FMC Technologies, announced its intention to separate into two independent public firms in August 2019 - one focused on upstream activities... Continue Reading →
Norwegian energy services player Aker Solutions has seen its loss widened in the fourth quarter 2020 on impairments and lower activity, which led to some 30 per cent revenue drop. The Oslo-listed company recognised quarterly net loss of NOK 844 million, versus net loss of NOK 129 million in Q4 2019. Revenue for the Q4... Continue Reading →
French oil giant Total, which is working to transform itself into a wider energy industry company, will outpace green energy majors Iberdrola and Ørsted on renewable power capacity by 2030. This is according to analysis from energy intelligence group Westwood. The insight highlights the oil and gas major’s ambitions to reach 100GW of renewable power... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding a piece of news published on the media about the sale of the refineries, clarifies that the dates for the signing of the purchase and sale contracts and for their effective transfer to the buyers (respectively signing and closing) are internal estimates subject to alterations, since they depend on... Continue Reading →
Offshore drilling contractor Noble Holding Corporation on 5 February 2021 completed its financial restructuring and its debtor-affiliates have emerged from Chapter 11 with a new parent company organized under the laws of the Cayman Islands named Noble Corporation. To remind, Noble Corp. filed for Chapter 11 bankruptcy protection in August 2020 to restructure its debt following a... Continue Reading →
Brazil maritime services provider OceanPact Servicos Maritimos has concluded a 1.22 billion reais ($226.51 million) initial public offering, according to a securities filing on Wednesday. OceanPact priced the offer at 11.15 reais per share, at the bottom limit of the indicative range of up to 13.85 reais per share. The company raised 920 million reais... Continue Reading →
Offshore drilling rig contractor Seadrill has filed for bankruptcy protection at a court in the U.S. state of Texas, it said on Wednesday, the second time in four years the company has entered into so-called Chapter 11 restructuring. The Oslo-listed group controlled by Norwegian-born billionaire John Fredriksen returned to court along with several subsidiaries after... Continue Reading →
(Reuters) - Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as oil output was set to decline from its 2019 peak. The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in... Continue Reading →
Japan's biggest oil and gas explorer Inpex Corp posted a net loss of 111.7 billion yen ($1.1 billion) in 2020 as the COVID-19 pandemic hammered oil prices, cutting its sales and forcing it to book hefty impairment losses. The result marks Inpex's first net loss since its foundation in 2008 through the merger of Inpex,... Continue Reading →
