Helix reported a 2Q17 miss as EBITDA of $29.7M came in below consensus/RJe of $32.1M/$36.2M. Stronger-than-expected Well Intervention utilization and margins mostly offset the substantial miss in Robotics. Though notably, much of the discussion surrounded the financial implications of the two Siem vessels contracted with Petrobras.   The Siem I remains on a reduced dayrate... Continue Reading →

Schlumberger Announces Second-Quarter 2017 Results Revenue of $7.5 billion increased 8% sequentially Pretax operating income of $950 million increased 25% sequentially GAAP loss per share, including charges of $0.40 per share, was $0.05 EPS, excluding charges, was $0.35 Quarterly cash dividend of $0.50 per share was approved Read more

Luxembourg - 21 July 2017 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of contract extensions for three Pipelay Support Vessels (PLSVs) currently on long-term day-rate contracts offshore Brazil. These extensions have a combined value of approximately USD 250 million. The firm contract periods for the Seven Waves, Seven Rio... Continue Reading →

JULY 18, 2017 / 1:00 PM / 3 HOURS AGO RIO DE JANEIRO (Reuters) - Brazil's oil regulator is proposing a plan to allow companies to apply more flexible local content rules to pre-existing contracts, the agency chief said on Tuesday, in a bid to attract fresh investment by foreign oil majors into Latin America's... Continue Reading →

Mexico will delay its next offshore oilfield auctions by a month, giving international bidders more time to evaluate recent major crude discoveries that highlight the potential value of the assets. A new billion-barrel find announced last week "confirms that the Mexican side of the Gulf of Mexico is very prolific," said Juan Carlos Zepeda, Mexico’s... Continue Reading →

U.S. oil major Exxon Mobil has confirmed it has, with its partners Hess and Statoil, signed a production sharing contract for Block 59 with Staatsolie Maatschappij Suriname N.V., the national oil company of Suriname. To remind, Staatsolie informed of the upcoming signing of the PSC two weeks ago, but with little detail. The block adds... Continue Reading →

Norwegian exploration and production company Aker BP more than doubled its second quarter 2017 production and revenues, compared to last year’s quarterly result, due to inclusion of BP Norge’s activities.  To remind, Aker BP was formed in September 2016 through a merger between Det norske oljeselskap and BP Norge. In its quarterly financial report on Friday,... Continue Reading →

 A Brazilian congressional committee on Thursday voted against sending a corruption charge against President Michel Temer to the Supreme Court for the leader to be put on trial. The vote is non-binding and the full house must still vote on the charge, which would only be approved if two-thirds of legislators vote for it. Read... Continue Reading →

The transport unit of Odebrecht SA, the Brazilian conglomerate at the heart of a global graft scandal, has concluded the sale of a stake in Rio de Janeiro international airport to China's HNA Infrastructure Co Ltd (0357.HK) for $19 million, the companies said on Thursday. The stake was the equivalent of 30 percent in the... Continue Reading →