Oslo-listed DOF Subsea has seen its fourth-quarter 2020 loss widened on higher depreciation and impairment charges and lower operating revenue compared to same time last year. The company reported NOK 115 million loss in the fourth quarter of 2020, versus NOK 30 million in Q4 2019. Operating revenue was NOK 872 million, against NOK 990 million... Continue Reading →
Oceaneering narrows loss in fourth quarter
Subsea engineering specialist Oceaneering has narrowed its loss in the fourth quarter of 2020, despite revenue drop of close to 25 per cent. The Houston-based company has reported a net loss of $25 million on revenue of $424 million for the fourth quarter 2020. Adjusted profit was $1.8 million, reflecting the impact of $9.8 million... Continue Reading →
Global LNG demand expected to almost double by 2040: Shell
(Reuters) - Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook. Demand was 360 million tonnes last year, up slightly from 2019’s 358 million tonnes, despite volatility caused by lockdowns during the coronavirus pandemic. Global LNG prices... Continue Reading →
Petronas Posts 4Q Loss. Outlook Challenging, CEO Says
Malaysian state oil firm Petronas fell to a fourth-quarter loss on Friday hurt by lower oil prices and demand. Petronas announced in a virtual briefing a 1.1 billion ringgit ($272 million) loss after tax for the October-December quarter versus a profit of 4.1 billion a year earlier. It was the third straight quarterly loss at... Continue Reading →
PROGRESS REPORT ON THE CONSTRUCTION OF THE NEW MERO, BÚZIOS AND MARLIN FPSOS IN ASIA
Asian shipyards are making progress on the construction of future Petrobras FPSOs that will start operating on the Brazilian coast between 2021 and 2024. In recent months, many of them have made considerable progress in their works. The next unit in Búzios, the FPSO Almirante Barroso is now almost 60% finished. The platform ship should... Continue Reading →
PETROBRAS WILL TENDER THIS YEAR THE FPSO FOR SERGIPE-ALAGOAS
Petrobras intends to go to the market this year to contract the FPSO for the deep water project in the Sergipe-Alagoas Basin (SEAP). The information was revealed this morning by the company's production development director, Rudimar Lorenzatto, during a conference call with analysts and investors. The executive also confirmed that the SEAP conceptual project was... Continue Reading →
Saipem CEO: “2021 is certainly not a back to normal year”
Italian energy services group Saipem said it was unable to provide guidance for the year due to the ongoing health pandemic after it missed earnings expectations, sending its shares down around 9%. "2021 is certainly not a back to normal year," Chief Executive Stefano Cao said in a conference call on results. "We don't expect... Continue Reading →
Offshore wind farm planned in Colombia
A new company in Colombia has proposed the South American republic’s first offshore wind farm.The Colombian Martime General Directorate (DIMAR) issued Resolution 9 of 2021 in January. This authorizes Vientos Alisios to conduct pre-feasibility studies from the Port of Cartagena.The proposed 200 MW wind farm, 15 km from the coast, is expected to use 35... Continue Reading →
Exxon Mobil’s total reserves drop by a third after COVID-19 oil price drop
(Reuters) - Exxon Mobil Corp’s global oil and gas reserves tumbled by a third last year as the COVID-19 pandemic slammed global oil prices and demand, the company said on Wednesday. The largest U.S. oil producer is reeling from the sharp decline in oil demand and a series of bad bets on projects when prices... Continue Reading →
WEG’s profit grows 48.5% in the 4th quarter, to R $ 742.2 million
The manufacturer of machinery and equipment WEG had a profit of R $ 742.2 million in the fourth quarter of 2020, which represents an increase of 48.5% compared to the same period of the previous year. The company's revenue grew 29.5%, to R $ 4.88 billion. The result was influenced by factors such as the... Continue Reading →
