Petrobras Announces Financial and Deepwater Records

Monday, May 06, 2002
Petrobras has registered two consecutive profit records, set a deep water record for equipment installation, moved up to 12th position in the PIW ranking of the biggest oil companies in the world and is preparing the highest CAPEX budget in its history. Speaking at his first Press Conference at the OTC, Francisco Gros, the new president of Petrobras told the reporters specialized in petroleum, that Brazil’s National Oil company is doing well without its recently lost (1998) oil monopoly and is ready for competition. Gros announced that this year’s Capex Budget will be the biggest in the company’s 49- year history. He also pointed out that in the last two years Petrobras profits were also record high, surpassing the $4 billion figure in both 2001 and 2000.

Offshore

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Onshore Spending on the Cusp of Recovery?

DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

Finance

SOS from Hanjin Shipping

The creditors' extended help is crucial for survival of Hanjin Shipping Co as its negotiations with owners of chartered ships over a cut in leasing rates and to

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

Skaugen Goes to Red Again

Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities

 
 
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