New Financing Options for Oil and Gas sector: Rules approved by the ANP bring more legal certainty, but some points may generate controversy

  July 25, 2019 Compared to other countries and other infrastructure sectors (such as electricity, for example), the oil and gas sector makes little use of project finance and other domestic capital market instruments to finance itself, making capital investment more common by the shareholders of the concessionaires. However, this reality may change. After years... Continue Reading →

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ExxonMobil looks at pre-selected drillships

July 24, 2019 ExxonMobil began the first technical visits to some of the rigs offered in its bid for chartering a drilling unit. The oil company's preliminary list includes at least five drillships: Ensco's DS-9, Constellation's Amaralina Star and Brava Star, and Seadrill's West Tellus and West Saturn. The vessels were offered at the best... Continue Reading →

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Deep water in ANP Permanent Offer

July 24, 2019 The ANP is working to include deepwater assets in the permanent offer regime, the agency's managing director, Dedio Oddone, said on Wednesday. Among them are the Piranema field, which is part of Petrobras' divestment plan, and Moréia, returned by the state company to the ANP. During the inauguration of a robot for... Continue Reading →

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Oceaneering Stays in Red

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 →

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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 →

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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 →

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