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U.S. oil and gas producer Hess Corp reported a bigger quarterly loss on Wednesday, hurt by lower oil prices as the COVID-19 pandemic sapped global energy demand. Crude prices sank to historic lows in April as economic activity plummeted across the world due to coronavirus lockdowns and a price war between the world's top producers... Continue Reading →
London-listed oil and gas exploration and production firm Tullow Oil expects to hire an offshore drilling rig soon for drilling operation in Suriname. The company said Monday that the drilling of the Goliathberg-Voltzberg North prospect (GVN-1) in the offshore Block 47 is now planned for the first quarter of 2021. Continue reading
July 29, 2020 Petróleo Brasileiro S.A. – Petrobras informs that it is already producing at all of its refineries and selling to distributors gasoline with RON 93 octane rating, which will only be mandatory in Brazil in 2022, according to the new regulations of the National Agency of Petroleum, Natural Gas and Biofuels (ANP) -... Continue Reading →
Sypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received significant orders for its Tube Turns® branded Ultra-High Pressure and Double Bolt closure product lines. Production will begin immediately and is expected to be completed prior to year end. Terms of the purchases were not disclosed. The... Continue Reading →
May 29, 2020 Petrobras will return the Discovery Assessment Plan (PAD) area of well 1-BRSA-1143D-ESS, called São Bernardo, located in the BM-ES-22A concession, in the ES-M-527 block, in the Espírito Santo Basin Holy. The asset is operated by the state-owned company, with a 75% stake, in partnership with Equinor (25%), which bought Vale's stake in... Continue Reading →
July 29, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 06/17/2020, informs the beginning of the non-binding phase regarding the sale of its entire stake in a set of seven onshore and shallow water fields (Alagoas Cluster) located in the state of Alagoas. Potential buyers qualified for this phase will... Continue Reading →
Temasek Holding's $3 billion bid to acquire a controlling stake in Keppel Corp will be under scrutiny on Thursday as a big quarterly profit drop at the conglomerate could raise the risk of the state investor dropping its proposal, analysts said. Keppel last week warned that material impairments relating to its offshore and marine segment... Continue Reading →
Danish offshore drilling contractor Maersk Drilling has entered an agreement to invest $1 million in the California-based company Clean Energy Systems to help develop a new technology called Carbon-Negative Energy. The concept builds on proven technology originally developed for the aerospace industry, which is now being deployed in a process that is expected to result... Continue Reading →
Subsea 7 has booked a major loss in Q2 2020 on restructuring and impairment charges as well as activity drop in the SURF and Conventional business units The engineering and construction specialist recognised quarterly net loss of $922 million, against profit of $24 million in Q2 2019. Diluted loss per share was $3.06 in Q2 2020... Continue Reading →
Italian energy services group Saipem painted a gloomy outlook for the year after reporting a net loss of 616 million euros ($723 million) in the second quarter following writedowns. The company said the industry faced uncertain demand for oil and gas. In April the group pulled its 2020 outlook, saying the pandemic might trigger a... Continue Reading →
