• 2012 November 9 17:10

    Brazil's OGX posts Q3 net loss after sale of 1st oil

    OGX Petroleo e Gas SA , Brazil's second-largest oil company by market value, reported on Thursday a net loss of 343.6 million reais ($168 million), after logging its first accountable revenues from crude oil sales, Reuters reports.

    In the second quarter, OGX recorded a loss of 398.7 million reais ($196.7 million), due to a mix of currency-related, financial and drilling costs.

    After OGX's first wells came on line in January and February, the company said it logged its first sale of roughly 800,000 barrels of oil to Reliance Industries Ltd in October.

    Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, improved to a negative 51.6 million reais compared with a negative 110 million reais for the April-June period.

    OGX is controlled by Brazilian billionaire Eike Batista and is the flagship company of his EBX energy, transportation, mining, shipbuilding and real estate group.

    The company produced an average 9,300 barrels of oil equivalent per day in the third quarter from its Tubarao Azul field, up slightly from the 9,100 barrels a day in the second quarter. The field produced 856,800 barrels since startup.

    OGX shares closed little changed on Thursday before the results were released, at 4.77 reais in Sao Paulo trading. Since January, shares have fallen 73 percent.

    OGX said it expects to begin producing from three wells in its Tubarao Martelo field in the Campos basin in late 2013, after the arrival of its floating production, storage and offloading (FPSO) vessel OSX-3.

    A third completed well is about to be connected in the coming weeks to FPSO OSX-1, which is now producing in the Tubarao Azul field.

    All of the production wells in the Gaviao Real project in the Parnaiba basin are ready and are being connected to the natural gas treatment plant, which is expected to begin startup operations in early 2013, the company said.

    The company has received environmental clearance for drilling in the BM-C-37 and BM-C-38 fields in the Campos basin and has made what it calls important hydrocarbon discoveries in the Parnaiba basin at the Bom Jesus deposit.

    The company said it also got clearance from the national oil agency ANP to drill in ultra-deep waters.

    OGX expects to reduce its capital expenditures budget to $1.2 billion in 2013, as it slows its drilling campaign in the Santos and Campos basins, pares back its drilling rig fleet and shifts its focus to production from exploration.


2020 January 17

18:06 Safe Bulkers refinances $105.2 mln of existing loan facilities with respect to eight vessels
17:52 Construction of Borssele 1+2 wind farm off Zeelandic coast begins
17:31 Murmansk Sea Fishing Port handled 263,500 tonnes of cargo in 2019, down 20.4% Y-o-Y
17:06 Wärtsilä solutions support environmentally sustainable performance for two new MSC Cruises's ships
16:50 BIMCO expands ice information service
16:27 A record year for cruise expected at Port of Southampton
16:02 Qatargas delivers first Q-Flex LNG cargo to Summit LNG FSRU in Bangladesh
15:49 Tallink Grupp sets group-wide CSR strategy and sustainable operations goals
15:23 RUB 127.57 billion of federal budget allocations approved for construction of Leader-class icebreaker
15:02 Dublin Port unitised trade up 3.6% in 2019
14:48 Seaspan Shipyards hosts ceremonial keel laying for the Royal Canadian Navy’s future Joint Support Ship
14:30 RF Navy's Black Sea Fleet minesweeper makes planned transition from Sevastopol to Mediterranean Sea
14:14 Diana Shipping announces time charter contract for m/v Astarte with Aquavita
13:51 Turnover of DeloPorts terminals in 2019 decreased by 5% YoY to 8.3 mln tonnes
13:32 SAAM agrees to acquire 70% of Intertug, a towage operator in Colombia, Mexico and Central America
13:03 Flex LNG announces extension of the time-charter agreement for Flex Enterprise
12:37 Kawasaki Heavy Industries delivers bulk carrier FJ VIOLA
12:27 Hapag-Lloyd signs space charter agreement with Maersk and MSC on the Asia-North Europe trade
12:20 Russian Maritime Register of Shipping reports it key 2019 results
12:03 Pyxis Tankers announces completion of sale of Pyxis Delta
11:38 KHI delivers LPG carrier PHOENIX GAIA
11:29 Throughput of Vostochny Port grew by 5.2% to 25.51 million tonnes in 2019
11:03 Eagle Bulk Shipping joins Getting to Zero Coalition
10:36 MABUX: Bunker market this morning, Jan 17
10:28 NYK agrees to MoU with Northern Offshore Group on partnership for crew transfer vessel business for offshore wind power generation systems
09:56 Brent Crude futures price is down 0.05% to $64.59, Light Sweet Crude – down 0.03% to $58.5
09:33 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:15 Baltic Dry Index is flat at 768 points
07:18 NYK and Van Oord sign MoU to own and operate offshore wind installation vessels in Japan

2020 January 16

18:37 CMA CGM announces FAK rates from India and Sri Lanka to North Europe and the Mediterranean
18:06 CMA CGM introduces NETWORKING INTERMEDIATION SERVICES
17:52 Mikhail Mishustin appointed as the Prime Minister of the Russian Federation
17:31 ClassNK issues Hong Kong Convention Statement of Compliance to Ship Recycling Facility in Bangladesh
17:03 Hapag-Lloyd announces rates from Middle East to Mediterranean and North Europe
16:39 Bunker prices are stable at the Far East ports of Russia following the recent growth (graph)
16:03 Vessels offered free shore power during Parkkade trial in Rotterdam
15:22 The CMA CGM Group is strengthening the organization of CEVA Logistics to begin the second phase of its development
15:03 New Stena Line ferry completes maiden voyage on Irish Sea
14:02 PIL launches new transpacific pendulum service, America Asia Service (AAS)
13:33 Port of Antwerp scores 7th record year in a row
13:02 THE Alliance unveils expanded service network for 2020
12:30 MISC, Samsung Heavy Industries, Lloyd’s Register and MAN Energy Solutions join forces on ammonia-fuelled tanker project
12:01 CMA CGM SSL Intra Europe will update its BAF for Algeria Morocco Tunisia Roro services
11:28 ABB presents recommendation for zero-emission marine technology to US Congress
11:26 Rosmorport summarizes results of its sailing ships's 2019 navigation season
11:01 Dmitry Stepanov appointed as General Director of Astrakhan Shipbuilding Production Association
10:37 IMO continues its work to review GMDSS requirements
10:18 MABUX: Bunker market this morning, Jan 16
09:50 NOVATEK reports preliminary operating data for 2019
09:29 Brent Crude futures price is up 0.69% to $64.44, Light Sweet Crude – up 0.73% to $58.23
09:16 Baltic Dry Index is up to 1,260 points

2020 January 15

18:35 Aker Solutions involved in international brownfield services contract award
18:06 The Convention between Carriers and Ports for OCEAN Alliance held in Boao
17:52 Intermodal unveils fresh new branding
17:46 Eagle Bulk joins Getting to Zero Coalition
17:23 Registration opens for 4th Annual Unmanned Maritime Systems Technology Conference in London
17:05 Keppel delivers first rig of 2020
16:37 NKT signs service contract with EirGrid on the East West Interconnector connecting Ireland and Great Britain
16:21 USPA concludes agreements with new members of its Supervisory Board
16:05 Naviris, the JV between Fincantieri and Naval Group is now fully operational