News Topics: Earnings Reports

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Sinopec Subsidiaries Inflated 2014 Revenue By $3.04B
Thursday, June 30, 2016 Subsidiaries of China's second-largest energy company Sinopec inflate their 2014 revenue by $3.04 billion, according to a report published by China's auditing department.

SapuraKencana Secures $125M of Drilling, Engineering & Construction Deals
Tuesday, June 28, 2016 SapuraKencana Petroleum secures $125 million of drilling as well as engineering and construction contracts and contract extensions in Malaysia, Australia and Trinidad and Tobagao.

IGas In Discussions with Investors to Strengthen Balance Sheet
Tuesday, June 14, 2016 Onshore UK hydrocarbon producer, IGas, is in discussions with "a number" of potential investors in a bid to strengthen its balance sheet.

Nostra Terra Cuts Costs by 40% In Response to Market Downturn
Friday, June 10, 2016 Nostra Terra Oil and Gas Company plc achieves a 40% year on year reduction in combined running costs, in response to the market downturn.

Russia's Rosneft Says Q1 Net Profit Down 75%, Misses Estimates
Wednesday, June 08, 2016 Rosneft's first-quarter net profit declined by 75% year-on-year, to $216.8 million, following a drop in global oil prices.

Russia's Lukoil Says Q1 Net Profit Down 59%, Misses Forecast
Monday, June 06, 2016 Lukoil's first-quarter net income fell by 59 percent year-on-year to $651.3 million, due to a drop in oil prices.

Russia's Transneft Says Q1 Net Profit Rises To 75.6B Roubles
Friday, June 03, 2016 First-quarter net profit of Russia's oil pipeline monopoly Transneft increases 19% year-on-year to $1.1 billion.

DNO Confirms KRG Payment for Tawke Deliveries
Wednesday, June 01, 2016 DNO ASA confirms the receipt of $16.3 million from the Kurdistan Regional Government as a second payment towards April crude oil deliveries to the export market from the Tawke field.

Genel Receives KRI Payment
Tuesday, May 31, 2016 Genel Energy plc reveals that the Taq Taq field partners have received a payment of $11.45 million from the Kurdistan Regional Government for oil sales during April 2016.

Russia's Gazprom Sees Revenue At $28B In 2016
Tuesday, May 31, 2016 Gazprom expects revenues to be at around $28 billion this year if the rouble rate averages 65 per U.S. dollar, says deputy chief executive Alexander Medvedev.

Malaysia's Bumi Armada 1Q 2016 Net Profit Down 67.5% YOY to $5.7M
Tuesday, May 31, 2016 Malaysia's Bumi Armada posts a net profit of $5.66 million in the first quarter of 2016, down 67.5 percent from $17.42 million in the previous year, while revenue fell 24.7 percent to $104.26 million.

Malaysia's ICON Posts Revenue of $12.8M in 1Q 2016, Down 18.5% YOY
Friday, May 27, 2016 Malaysia's offshore service vessel provider ICON Offshore posts an 18.5 percent year-on-year fall in revenue for first quarter 2016 to $12.8 million due to lower fleet utilization and charter rates.

Seadrill Warns of Further Cost-Cutting in 2016
Thursday, May 26, 2016 Seadrill will be cutting costs by approximately $340 million this year, after warning that the offshore drilling market "remains challenging".

India's ONGC Reports 12% Rise In Q4 Profit, Beating Estimates
Thursday, May 26, 2016 Oil and Natural Gas Corp, India's biggest oil explorer, reports a surprise 12 percent rise in 4Q net profit, helped by a one-off gain.

Nostrum Oil & Gas Financials 'In Line', Production Guidance Unchanged
Wednesday, May 25, 2016 Nostrum Oil & Gas plc's 1Q financials are "broadly in line and operations are on track", according to a brief research note from FirstEnergy.

Malaysia's UMW O&G Incurs a Loss Before Tax of $16.6M in 1Q 2016
Tuesday, May 24, 2016 UMW Oil & Gas incurs a loss before tax of $16.64 million in the first quarter of 2016, down from a profit before tax of $10.33 million in the previous year.

SDX Raises Funds to Support Egypt Operations
Monday, May 23, 2016 SDX Energy Inc raises approximately $11 million through a private placement, which will be used to fund its activities in Egypt.

Russia's TMK Sees Flat Core Earnings In 2016
Thursday, May 19, 2016 TMK, Russia's largest maker of steel pipes for the oil and gas industry, expects its 2016 core earnings to be flat compared with last year.

PETRONAS' 1Q 2016 Profit After Tax Falls 60% YOY to $1.1B
Thursday, May 19, 2016 Malaysian national oil company PETRONAS posts $1.1 billion in profit after tax for first quarter 2016, down 60 percent from $2.8 billion recorded in the same period last year.

Ithaca Energy Turns Loss to Profit in 1Q, Maintains Capex
Monday, May 16, 2016 Ithaca Energy turned loss to profit in the first quarter of 2016, maintaining its capital expenditure of $50 million for the year in the process.

Petrobras Vows To 'Cut Cholesterol' After Third Quarterly Loss
Friday, May 13, 2016 Brazil's state-controlled oil company Petrobras is advancing asset sales to reduce the biggest debt load in the oil industry after three quarters of straight losses.

Wentworth Reduces Net Loss in 1Q, Delivers 'Encouraging' Output
Thursday, May 12, 2016 Wentworth Resources Limited reduces its net loss during 1Q 2016, compared to 1Q 2015, achieving an average gross daily production of 48 million cubic feet of gas per day in the process.

OMV Q1 Adjusted Operating Profit Falls By Half
Wednesday, May 11, 2016 OMV's adjusted operating profit in Q1 fell 50% to $190 million as low oil prices keep gnawing at its upstream profit.

Oilfield Services Provider Wood Group Forecasts Lower FY Earnings
Wednesday, May 11, 2016 Oilfield services provider John Wood Group Plc warns that full-year core earnings will be about 20% lower than the last year, as it sees further margin pressure due to lower activity by customers.

Lundin Petroleum Q1 Beats Forecast, Raises Sverdrup Capacity Estimate
Wednesday, May 11, 2016 Lundin Petroleum raises output estimates for the first phase of the giant Johan Sverdrup field as it beats 1Q core earnings expectations.

UAE's Taqa Posts Q1 Loss On Low Oil Prices
Wednesday, May 11, 2016 Abu Dhabi National Energy Co (TAQA) reports a Q1 net loss, hurt by low oil prices.

Vallianz Posts $5.5M Net Profit in 1Q 2016, Wins $63M OSV Deal from ME NOC
Tuesday, May 10, 2016 Vallianz Holdings posts a net profit of $5.5 million in the first quarter of 2016, little changed from last year, while securing a $63 million contract to supply two offshore support vessels to a Middle East national oil company.


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