ADVFN - Advanced Financial Network.
HOME» NYSE » P » PBR Stock Price » PBR Stock News

Petroleo Brasileiro Share News

 Petroleo Brasileiro S.a. Stock Price
PBR Stock Price
 Petroleo Brasileiro S.a. Stock Chart
PBR Stock Chart
 Petroleo Brasileiro S.a. Stock News
PBR Stock News
 Petroleo Brasileiro S.a. Company Information
PBR Company Information
 Petroleo Brasileiro S.a. Stock Trades
PBR Stock Trades

Subsea 7: No Impact From Econ Uncertainties, Expects Contract Wins

By Dominic Chopping Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Thursday it still has a positive view on the market as it hasn't seen any impact from oil price volatility or macro-economic uncertainties and it expects the present high level of bidding activity to translate into market awards later this year. MAIN FACTS: -CEO Jean Cahuzac says: "In this growing worldwide market, the key challenges for the industry continue to be the availability of qualified and experienced personnel, and the need to manage an increasingly tight supply chain and assure reliability in complex project delivery." -"In West Africa, market award of some large SURF contracts has been delayed by a few months. As a consequence, the offshore execution of the majority of these new projects is now expected to start in 2014." -"In the North and Norwegian Seas, levels of tendering remain strong with improved pricing. While our operations in 2Q have been somewhat impacted by weather, we expect results to continue to improve year-on-year as low margin contracts awarded in prior years are phased out." -"In the Gulf of Mexico, we see an increased number of prospects in the medium term as our clients‟ activity slowly picks up." -"In Brazil, we expect Petrobras' (PBR) demand for PLSV vessels to remain strong in the years to come. Four Subsea 7 vessel contracts are due to complete in the second half of 2013, and we are currently reviewing our options for their renewal. Our Guara Lula project execution remains on track to achieve its revised targets as previously announced." -"In Asia Pacific, pricing conditions remain more challenging than in other parts of the world. However, we expect projects to come to market award later this year, with associated offshore activity in late 2013 and beyond." -"As previously announced, the contribution of the SapuraAcergy joint venture will be affected by the revised schedule of the offshore operations of the Gumusut project which are now planned for 2013." -Backlog $8.29 billion, from $7.88 billion. -Revenue $1.48 billion, from $1.34 billion. -Operating profit $246.4 million, from $209.9 million. -Gain from sale of interest in NKT Felxibles $220 million. -Net profit $413.3 million, from $118.3 million. -Shares closed Wednesday at NOK128.50, valuing the company at NOK45.21 billion. -Write to Dominic Chopping at Order free Annual Report for Petróleo Brasileiro SA Visit or call +44 (0)208 391 6028 Subscribe to WSJ:

Stock News for Petroleo Brasileiro (PBR)
10/02/201502:53:00Siem Offshore, Petrobras Agree to Terminate Vessel Deals Early
09/30/201519:04:00ADR Shares End Higher; JinkoSolar, Petrobras Trade Actively
09/30/201510:36:00Basic Materials Sector Stocks Under Scan - Alcoa, Petroleo Brasileiro...
09/28/201518:20:00Brazilian Real Weakens Against Dollar, Shares Decline
09/28/201508:03:00Oil and Gas Drilling and Exploration Equities Technical Notes...
09/27/201516:06:00Correction to Gates Foundation Sues Petrobras Article
09/25/201516:30:00Gates Foundation Sues Petrobras, Auditor for Fraud
09/21/201517:46:00ADRs End Mostly Lower; Petrobras Declines
09/21/201509:24:00Technical Coverage on the Basic Materials Sector -- Freeport-McMoran...
09/21/201509:05:00Siem Offshore Gets Early Termination Notice For Siem Carrier...
09/15/201508:00:00Petrobras Names Interim Chairman
09/14/201511:10:00Petrobras Chairman Ferreira Taking Leave of Absence
09/11/201508:15:00Recent Operational Updates - Report on Petrobras
08/26/201518:04:00ADRs End Higher; Syngenta Declines
08/14/201510:50:07Petrobras Tax Settlement to Total 2 Billion Reais in Third Quarter
08/12/201517:40:18Petrobras May Sell Stake in Fuel-Distribution Business
08/11/201519:18:32Correction to U.S. Link in Petrobras Case
08/11/201509:25:00An Update on Oil & Gas Production in June 2015 - Report on Petroleo...
08/06/201520:10:21Oil Prices, Tax Settlement Hurts Petrobras Profits
08/05/201521:20:10Brazil Judge Sentences OAS Executives Over Petrobras Scandal

Petroleo Brasileiro and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations