Oceaneering has reported a net loss of $35 million, or 36 cents per share, for the three months ended June 30, 2019. The result compares with net loss of $33 million same time last year. During the prior quarter ended March 31, 2019, Oceaneering reported a net loss of $25 million, or 25 cents per... Continue Reading →
Saipem Returns to Profit
Italian oilfield services player Saipem has reported first-half 2019 profit of €14 million on revenues of €4.5 billion. This result compares to net loss of €323 million on revenues of €3.8 billion for prior-year comparable period. Adjusted result was net profit of €60 million, against €6 million in 1H 2018. Saipem reported first-half 2019 EBITDA... Continue Reading →
Helix Books Slight Drop in Quarterly Profits
Helix Energy Solutions has reported net income of $16.8 million, or $0.11 per diluted share, for the second quarter of 2019 compared to $17.8 million of $0.12 for the same period in 2018. Quarterly revenues fell from $205 million in Q2 2018 at $202 million. Net income for the six months ended June 30, 2019... Continue Reading →
Subsea 7 Sees Profits Slip
Engineering and construction specialist Subsea 7 has seen its profit cut in the quarter ended June 30, 2019 as activity drop continues in renewables and heavy lift business units. The Oslo-listed firm posted quarterly profit of $24 million, or $9 cents per diluted share, on revenue of $958 million, versus profit of $74 million, or... Continue Reading →
Equinor posts increase in 2Q net income, cuts Johan Sverdrup costs
Norwegian oil and gas company Equinor recorded an increase in its second quarter 2019 net income while its earnings were down compared to the last year’s quarter. The company expects to spend less this year, partly due to further savings on the Johan Sverdrup offshore project. Equinor said in its 2Q 2019 report on Thursday... Continue Reading →
TechnipFMC books smaller profit, but sees record inbound orders
Oilfield services provider TechnipFMC booked a smaller profit in the second quarter of the year despite a 16% increase in revenues when compared to the same period last year. In addition, the company achieved record inbound orders and increased backlog by more than 73%. TechnipFMC said on Thursday that total company revenue for the second... Continue Reading →
Total plans $5 billion in asset sales as second quarter profit slips on lower oil prices
French oil and gas company Total posted a 26% drop in 2Q net profit as a result of lower oil and gas prices. Total has said it plans to sell about $5 billion worth of assets, mostly from its Exploration & Production business. The company on Thursday posted adjusted net profit of $2.9 billion, a... Continue Reading →
“New Gas Market” Agenda Milestones
July 24, 2019 Regulation related to the New Gas Market program is expected to be completed by the ANP by 2023. The program was launched last Tuesday (7/23) by the Federal Government, during a ceremony held in Brasília (DF). The main measures of the program are consolidated in CNPE Resolution No. 16/2019, which establishes guidelines... Continue Reading →
MME – Government launches the “New Gas Market”, a milestone for Brazil
July 24, 2019 An open, dynamic and competitive natural gas market, aiming at the resumption of economic growth and regional development, which will promote a true energy and industrial revolution in the sector. To this end, Minister of Mines and Energy, Bento Albuquerque, participated in the launching of the “New Gas Market” program, with the... Continue Reading →
Improvements in vessel dayrates bring Polarcus back to profit
Seismic services player Polarcus returned to profit in the second quarter of 2019 from a loss in the corresponding period of 2018 on the back of higher revenues driven by improvement in vessel dayrates. The seismic company said on Wednesday it had recorded a profit of $0.6 million in the second quarter of 2019 compared... Continue Reading →
Brazil Energy Insight 