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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 →
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 →
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 →
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 →
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 →
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 →
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 →
Oil and gas company Tullow Oil and its partners have decided to drill an exploration well in Block 47 located offshore Suriname next year. Tullow said in an operational update on Wednesday that together with its Joint Venture Partners it had decided to enter the second phase of operations in Block 47. Continue reading
TechnipFMC’s flagship deepwater pipelay and construction vessel Deep Blue is embarking on a major subsea project laying pipeline on the Peregrino Phase 2 Project in the Campos Basin offshore Brazil. TechnipFMC was awarded an engineering, procurement, construction and installation contract by Equinor, then Statoil, for the Peregrino Phase II Project back in September 2017. The... Continue Reading →
July 23, 2019 The ANP approved a two-year extension of the first phase of exploration of blocks CE-M-603 and POT-M-475, located in the Ceará and Potiguar basins, respectively. Both are operated by ExxonMobil in partnership with Azibras. With this, the first exploratory period of the assets will expire in July, in the case of CE-M-603,... Continue Reading →
