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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 →
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 →
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 →
In the midst of the process of change in its high command, Petrobras launched this week a new tender that promises to move the market. The state-owned company published a public notice to contract up to five offshore drilling rigs. The opening of the envelopes with the bidders' proposals is scheduled for March 15th. The... Continue Reading →
Italian oilfield services company Saipem has developed a new tool for the estimation of the carbon footprint of its offshore projects. Saipem said on Wednesday it has won the Environmental Sustainability Award in International Marine Contractors Association’s (IMCA) 2020 Awards programme, for an innovative CO2 estimation tool in its offshore projects. The tool is named SOCE (Saipem... Continue Reading →
Italy's Saipem and renewable energy companies AGNES and Qint’x have applied for permits to develop one of the world's biggest offshore clean energy hubs, to generate wind and solar power and produce green hydrogen, Saipem said on Thursday. The companies have agreed to build 620 megawatts of wind and solar capacity off the coast of... Continue Reading →
BW Offshore, a company mainly known as the operator of FPSO vessels in the oil and gas industry, is creating what it calls "a floating offshore wind champion targeting large-scale projects," following an agreement signed Wednesday to buy into the floating offshore wind tech developer Ideol. BW Offshore last week said it was in discussions with France-based... 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 →
Brazil Energy Insight 