Edition:
United States

Oil Related Services and Equipment

Page 2

Sapura Energy says Co & Subsea 7 S.A. agree to discontinue SapuraAcergy JV

Tuesday, 17 Oct 2017 05:54am EDT

Oct 17 (Reuters) - Sapura Energy Bhd :Co & Subsea 7 S.A. mutually agreed to discontinue SapuraAcergy JV.Purchase of Sapura 3000 by group will contribute to Sapuraacergy JV recognising loss in current FY.

Subsea to book $10 mln loss as SapuraAcergy venture ends

Tuesday, 17 Oct 2017 05:30am EDT

Oct 17 (Reuters) - Subsea 7 Sa :Discontinuation of SapuraAcergy joint venture.SapuraAcergy's heavy-lift and pipelay vessel, Sapura 3000, has been sold to a subsidiary of Sapura Energy Berhad.The decision by Subsea 7 and Sapura Energy Berhad to discontinue the joint venture reflects the evolution of both companies' long-term strategic priorities..Subsea 7 remains committed to the Asia Pacific region, with offices located in Malaysia, Australia, Indonesia and Singapore.In 2016 Subsea 7's share of net income from SapuraAcergy was USD 6 million and at 31 December 2016 the carrying amount of the investment was USD 129 million.‍as a result of discontinuation of joint venture and sale of sapura 3000, subsea 7 expects to receive approximately usd 100 million in cash dividends, and recognise a loss of approximately usd 10 million in q3​.

Subsea to book $10 mln loss as SapuraAcergy venture ends

Tuesday, 17 Oct 2017 05:30am EDT

Oct 17 (Reuters) - Subsea 7 Sa :Discontinuation of SapuraAcergy joint venture.SapuraAcergy's heavy-lift and pipelay vessel, Sapura 3000, has been sold to a subsidiary of Sapura Energy Berhad.The decision by Subsea 7 and Sapura Energy Berhad to discontinue the joint venture reflects the evolution of both companies' long-term strategic priorities..Subsea 7 remains committed to the Asia Pacific region, with offices located in Malaysia, Australia, Indonesia and Singapore.In 2016 Subsea 7's share of net income from SapuraAcergy was USD 6 million and at 31 December 2016 the carrying amount of the investment was USD 129 million.‍as a result of discontinuation of joint venture and sale of sapura 3000, subsea 7 expects to receive approximately usd 100 million in cash dividends, and recognise a loss of approximately usd 10 million in q3​.

GI Technologies Group unit to set up asset management joint ventures

Tuesday, 17 Oct 2017 04:10am EDT

Oct 17(Reuters) - GI Technologies Group Co Ltd <300309.SZ>:Says co's Xinjiang-based wholly owned unit plans to set up asset management JV with Qingdao-based asset management firm.Says unit and the Qingdao-based firm will invest 5.1 million yuan and 4.9 million yuan in the JV respectively.Says co's Xinjiang-based wholly owned unit plans to set up asset management JV with Xinjiang-based venture management firm.Says unit and the Xinjiang-based firm will invest 5.1 million yuan and 4.9 million yuan in the JV respectively.

GI Technologies Group to set up asset management JV

Tuesday, 17 Oct 2017 03:50am EDT

Oct 17(Reuters) - GI Technologies Group Co Ltd <300309.SZ>:Says co plans to set up asset management JV with a Chongqing-based management consulting firm (partner).Says co and partner will invest 15.3 million yuan and 14.7 million yuan in the JV respectively.

Tong Oil Tools sees Q1 to Q3 FY 2017 net profit down 8.5 pct to up 14.4 pct

Monday, 16 Oct 2017 09:43am EDT

Oct 16(Reuters) - Tong Oil Tools Co Ltd <300164.SZ>:Sees Q1 to Q3 FY 2017 net profit to decrease by 8.5 percent to increase by 14.4 percent, or to be 8 million yuan to 10 million yuan .Says Q1 to Q3 FY 2016 net profit was 8.7 million yuan .

Tidewater announces executive leadership changes

Monday, 16 Oct 2017 08:35am EDT

Oct 16 (Reuters) - Tidewater Inc :Tidewater announces executive leadership changes.Tidewater Inc - ‍Jeffrey M. Platt has elected to retire effective October 15, 2017 from his roles as ceo, president, and a director of Tidewater​.Tidewater Inc - ‍Board of directors has appointed Larry T. Rigdon as its interim chief executive officer and president, effective immediately​.Tidewater Inc - ‍Board has formed a search committee to identify a permanent successor CEO and President​.

Sino Geophysical to swing to loss in Q1 to Q3 of FY 2017

Monday, 16 Oct 2017 05:40am EDT

Oct 16 (Reuters) - Sino Geophysical Co Ltd <300191.SZ>:Says it expected Q1 to Q3 of FY 2017 net loss to be 17.5 million yuan to 20.6 million yuan versus net profit of 10.3 million yuan year ago .

Hiap Seng Engineering wins three contracts totalling S$52 million​

Monday, 16 Oct 2017 05:21am EDT

Oct 16 (Reuters) - Hiap Seng Engineering Ltd :‍Hiap Seng wins three contracts totalling S$52 million​.‍Expects positive contribution on earnings from contracts for FY ending 31 March 2018.

China Oil HBP Science & Technology sees Q1~Q3 FY 2017 net profit to down up to 30 pct

Monday, 16 Oct 2017 02:47am EDT

Oct 16 (Reuters) - China Oil HBP Science & Technology Co Ltd <002554.SZ> ::Sees net profit for Q1~Q3 FY 2017 to decrease by as much as 30 percent, compared to net profit of Q1~Q3 FY 2016 (105.5 million yuan).Says decrease in order volume and gross margin, exchange loss and increase in financial cost as main reasons for the forecast.

Markets

  • Sectors
  • U.S.
  • Europe
  • Asia

Sector Summary