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Jul 30, 2020 WEG obtained an important contract with Petrobras to supply eight turbogenerators for the FPSOs Buzios V and Mero 2. With the new arrangement, WEG expects to generate revenue of approximately R $ 160 million. Of the total equipment, four of them will be 36 MW 3600 rpm and four of 33 MW... Continue Reading →
Italian oil and gas giant Eni went from a profit in the second quarter of 2019 to a loss in the same period this year hit by the combined effects of the coronavirus pandemic and the oil price crisis. Eni has also cut its capex guidance for 2020 by 35 per cent. Eni booked a... Continue Reading →
Exxon Mobil Corp (XOM.N) is preparing deep spending and job cuts, according to people familiar with the matter, as it fights to preserve a 8% shareholder dividend with a multi-billion-dollar quarterly loss looming. It was unclear how extensive the cuts will be. The largest U.S. oil company slashed this year’s budget by 30% in April,... Continue Reading →
Jul 30, 2020 Chevron receives proposals today to purchase its stake in the Papa-Terra field, in the Campos Basin, in an operation conducted by Bank of America. The expectation is that medium-sized oil companies will compete for shares in Chevron and Petrobras in the Campos Basin asset. The bidding should involve up to four companies,... Continue Reading →
Deepwater drilling company Transocean reported a second-quarter net loss of $487 million, mostly on impairment of assets. The adjusted net loss was $1 million, an improvement from an adjusted loss of $187 million in the previous quarter. Total contract drilling revenues were $930 million, compared with $759 million in the first quarter of 2020. Continue... Continue Reading →
Singaporean conglomerate Keppel Corp reported a loss in the first half of 2020 due to impairments in its offshore and marine business that has been battered by low global oil prices. Keppel posted a net loss of S$537 million ($390 million) for the six months to June, compared with a net profit of S$356 million... Continue Reading →
TechnipFMC has reported second-quarter 2020 profit of $12 million or 3 cents per diluted share against $97 million profit same time last year. Adjusted diluted earnings per share, excluding charges and credits, was 9 cents. Revenues for the quarter were down 8 per cent at $3.16 billion, form $3.43 billion in the prior-year comparable period.... Continue Reading →
Total reported a 96 per cent drop in adjusted profit for the second quarter of 2020 due to lower prices and COVID-19 effects. The company reported an adjusted net income of $126 million, down from $2.9 billion reported in the corresponding quarter last year. Total noted it will take an $8.1 billion impairment on its... Continue Reading →
Tubular solutions supplier Vallourec has signed contract extensions with Petrobras for the supply of its products and services. Since 2019, Vallourec has been supplying Petrobras with OCTG products, including seamless steel tubes, connections, and accessories, as well as associated services such as offshore inspection, repair, and supervision. The contracts have now been extended until 2023.... Continue Reading →
South Korean shipbuilder Samsung Heavy Industries (SHI) has delivered Eagle Paulinia to AET Tankers, a petroleum logistics unit of Malaysian energy logistics group MISC Berhad. The dynamic positioning (DP2) shuttle tanker is part of a series of four vessels, purpose-built for long-term charter to Brazilian oil and gas major Petrobras. Continue reading
