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TAQA records AED 4.3 billion of revenue in Q1 2019

TAQA records AED 4.3 billion of revenue in Q1 2019

May 9, 2019 No Comments

Abu Dhabi National Energy Company PJSC (TAQA) announced its financial results and operational highlights for the three-month period ending March 31, 2019. TAQA recorded AED 4.3 billion of revenue in the quarter. The company reported AED 2.4 billion in EBITDA, an increase of 1% compared to the first three months of the previous year. This […]

Oil Production Booms… But Funding Is Drying Up

Oil Production Booms… But Funding Is Drying Up

May 9, 2019 No Comments

North America’s energy-focused private equity firms just saw a five-year low in fund closings and the lowest amount of total capital raised for energy investment since early 2016. During the 2014-2016 period of low oil prices, many energy-focused funds raised billions of U.S. dollars, aiming to invest the money in energy assets at bargain prices. […]

Kværner Announce First quarter results 2019

Kværner Announce First quarter results 2019

May 7, 2019 No Comments

The results for the first three months in 2019 is the 31st quarter in a row where Kvaerner delivers solid, positive results. Per 31 March, the revenues were NOK 2 158 million including joint ventures. The corresponding EBITDA was NOK 137 million, and the EBITDA margin was 6.3 percent. The first quarter ended with a […]

Occidental Announces 1st Quarter 2019 Results

Occidental Announces 1st Quarter 2019 Results

May 6, 2019 No Comments

Occidental Petroleum Announces 4th Quarter and Full Year 2018 Results Occidental Petroleum reports 2018 net income of $4.1 billion with ROCE of 14%, the highest since 2014 portfolio optimization; returns more than $3.6 billion to shareholders Q4 cash flow from operations before working capital of $1.9 billion funded capital expenditures and dividends Reserve replacement of […]

Kvaerner to recycle Statfjord A Platform

Kvaerner to recycle Statfjord A Platform

May 2, 2019 No Comments

Kvaerner has been awarded a contract from Allseas for dismantling and recycling of the topside at Equinor’s Statfjord A platform in the the North Sea. The Statfjord A facility was originally built at Kvaerner’s specialised facility at Stord, Norway. 42 years after the tow-out to the field, it is now clear that the platform will […]

Seplat Announce consolidated interim financial results for the three months ended 31 March 2019

Seplat Announce consolidated interim financial results for the three months ended 31 March 2019

April 30, 2019 No Comments

Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), announced its first quarter results. Information contained within this release is un-audited and is subject to further review. Financial performance summary Revenue of US$160 million (2018: US$181 million) and gross profit of US$81 million (2018: US$93 million) represents a 51% gross profit margin (unchanged year-on-year); Revenue […]

Oceanteam ASA reports full year 2018 results

Oceanteam ASA reports full year 2018 results

April 29, 2019 No Comments

Oceanteam is pleased to present its 2018 annual financial report. 2018 was a good year for Oceanteam, further described in the attached report. The financial restructuring of the Group has been successfully completed. Equity ratio improved materially to more than 70%. Both vessels were under charter contract for the full year, except for a short […]

Eni Announce first quarter 2019 results

Eni Announce first quarter 2019 results

April 24, 2019 No Comments

Today, Eni’s Board of Directors approved the Group results for the first quarter of 2019 (unaudited). Highlights Exploration & Production Hydrocarbon production of the first quarter 2019: 1.83 million boe/d; down by 1.3% net of price and portfolio effects; -q-o-q change is affected by the termination of the Intisar production contract in Libya from the […]

Africa Oil acquires additional shares of Eco (Atlantic) Oil and Gas

Africa Oil acquires additional shares of Eco (Atlantic) Oil and Gas

April 11, 2019 No Comments

Africa Oil Corp. (AOI–TSX, AOI–Nasdaq-Stockholm) announced today that it had acquired 4,752,850 common shares of Eco (Atlantic) Oil and Gas Ltd. (“Eco”) (TSXV:EOG or LSE:ECO) for US$1.05 per common share for a total consideration of US$4,999,998. The common shares were acquired by Africa Oil on a non-brokered private placement basis and, together with the 29,200,000 […]

UK Treasury revises oil and gas tax history compliance

UK Treasury revises oil and gas tax history compliance

April 10, 2019 No Comments

The Treasury has published detail of the alternative schedule to the decommissioning relief deed (DRD) that oil and gas companies are required to sign before they elect to transfer their tax history The DRD provides certainty for oil and gas companies over the tax relief they will receive when decommissioning assets in the future. The […]

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