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Oslo-listed marine contractor Siem Offshore has reduced its Q4 2020 deficit despite revenue drop of 20 per cent against prior-year quarter. Quarterly operating revenues were $57 million, compared to $71 million in Q4 2019. The decrease in revenues from 4Q 2019 is mainly due to lower revenues from the AHTS fleet, the Brazilian and the... Continue Reading →
Oslo-listed DOF Subsea has seen its fourth-quarter 2020 loss widened on higher depreciation and impairment charges and lower operating revenue compared to same time last year. The company reported NOK 115 million loss in the fourth quarter of 2020, versus NOK 30 million in Q4 2019. Operating revenue was NOK 872 million, against NOK 990 million... Continue Reading →
Subsea engineering specialist Oceaneering has narrowed its loss in the fourth quarter of 2020, despite revenue drop of close to 25 per cent. The Houston-based company has reported a net loss of $25 million on revenue of $424 million for the fourth quarter 2020. Adjusted profit was $1.8 million, reflecting the impact of $9.8 million... Continue Reading →
Asian shipyards are making progress on the construction of future Petrobras FPSOs that will start operating on the Brazilian coast between 2021 and 2024. In recent months, many of them have made considerable progress in their works. The next unit in Búzios, the FPSO Almirante Barroso is now almost 60% finished. The platform ship should... Continue Reading →
Petrobras intends to go to the market this year to contract the FPSO for the deep water project in the Sergipe-Alagoas Basin (SEAP). The information was revealed this morning by the company's production development director, Rudimar Lorenzatto, during a conference call with analysts and investors. The executive also confirmed that the SEAP conceptual project was... Continue Reading →
The manufacturer of machinery and equipment WEG had a profit of R $ 742.2 million in the fourth quarter of 2020, which represents an increase of 48.5% compared to the same period of the previous year. The company's revenue grew 29.5%, to R $ 4.88 billion. The result was influenced by factors such as the... Continue Reading →
Brazilian national oil company Petrobras has hired AqualisBraemar to perform DP acceptance and annual trials for their DP shuttle tanker fleet operating in Brazil over the next three years. Under the contract, AqualisBraemar will carry out trials to verify the integrity and capabilities of the station-keeping equipment for Petrobras’ shuttle tanker fleet. Shuttle tankers transport... 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 →
Brazilian oil and gas giant Petrobras has signed a letter of intent with SBM Offshore for the chartering and provision of services for the FPSO Almirante Tamandaré, to be installed in the Búzios field, located in the Santos Basin pre-salt area off Brazil. Petrobras said on Wednesday that the FPSO will be the sixth unit... Continue Reading →
Brazil Energy Insight 