Aker BP books major impairment ahead of next fiscal report
Norwegian oil firm Aker BP reports large impairment ahead of next financial report and notes disappointing output during the quarter.
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Norwegian oil firm Aker BP reports large impairment ahead of next financial report and notes disappointing output during the quarter.
Oil company Aker BP has successfully located oil from its license number 442's ninth prospect drilling in the North Sea. The company has found oil of an extremely high-grade, the Norwegian Petroleum Directorate informs.
Oil company Aker BP exits the second quarter with a profit that is nearly half of what the company booked for the same period last year. Production is also down.
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According to a Norwegian newspaper, oil companies Aker BP and Equinor have been negotiating a billion-dollar deal, which includes making Aker BP a major stakeholder of Lundin Petroleum.
A consortium of 17 banks are backing Aker BP's unsecured credit facility of USD 4 billion. The company characterizes the agreement as a "strong signal" from the banks.
The oil sector's recovery has left a positive mark on the significant Aker group's parent company, Aker ASA, which in the first quarter increased its total value by 34.6 percent. The company's CEO emphasizes that overcapacity continues to plague the industry.
Despite a setback on both the top and bottom line in the first quarter, oil company Aker BP reports a result of almost USD 250 million. After taxes, though, there is not much left.
Oil major Aker BP, among the largest in Norway, has renegotiated its agreement with banks. The agreement entails the same amount as the old one but is differentiated by one key point.
Oil major Aker BP more than doubled its profit before taxes in a 2018 in which the company's production also grew. CEO expects "further profitable growth" in the coming years.
Things have been looking up for Aker BP in the past year, and the company thus upgrades its expectations. The company has also appointed a new CFO.
The timing was not right when Aker invested in Solstad Offshore in 2016, acknowledges Aker's CEO after the carrier recently began new negotiations with creditors for its massive debt.
New figures from analyst firm Global Data indicate that oil companies will invest USD 43.1 billion in new oil and gas projects in the North Sea until 2025.
Norwegian Aker BP achieved a revenue of one billion dollars in the third quarter and a combined result of USD 123 million after taxes, shows the interim report for the quarter. Rising oil and gas prices boosted the result.
Norske Aker BP omsatte i tredje kvartal for en mia. dollars og fik et samlet resultat på 125 mio. dollars efter skat, viser regnskabet for kvartalet. Stigende olie- og gaspriser hjalp.
Aftale med Aker BP sender boreriggen Maersk Integrator til oliefeltet Ula i Nordsøen. Med aftalen vokser Maersk Drillings ordrebog til over 300 mio. dollar i 2018.
Oil major Aker BP, owned by parties including BP and shipping investor Kjell Inge Røkke's Aker Group, has acquired 11 licenses on the Norwegian shelf from France's Total.
Norwegian Aker BP increased its profit after taxes to USD 136 million, shows the Q2 report. Increasing oil prices contributed.
Offshore shipping company Solstad Farstad has won contracts with several oil majors, including Aker BP and a former Maersk Oil company, now part of Total. The contracts indicate an improving market, says the company.
Oil production in the first quarter at Aker BP reached record levels, while the company's bottom line also grew in the period.
A comprehensive investigation of the fatal accident on the rig Maersk Interceptor reveals several violations of safety rules. More people could have been killed, says the Petroleum Safety Authority Norway.
Oil company Aker BP announces growth in the fourth quarter as well as for the full year. However, a fatal accident on a drilling platform took up a large part of CEO Johnny Hersvik's presentation of Q4, and the investigation into the accident is still ongoing, he says.
Players with insight into the drilling industry have told Danish media Børsen that at the end of 2017 Maersk was in talks with leading companies Aker ASA, Odfjell Drilling and Borr Drilling regarding a partnership with Maersk Drilling.
One of Norway's most lucrative oil fields will be fitted with an unmanned platform supplied by Kvaerner.
Oil company Aker BP has awarded Subsea 7 and Aker Solutions main contracts on the Ærfugl field. Subsea 7's contract alone is valued at USD 150-300 million.
More stable oil prices and reduced costs have made life easier at one of the world's largest oil and gas producers.
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