EnergyWatch

Oil & Gas

Higher revenue didn't save Subsea 7 from bottom-line loss

Subsea 7 increased its revenue with 59 percent compared to 2020, however, it was not enough to keep the balance sheet in the black on the bottom line. The offshore company states that delays and Covid-19 impacted business in the second quarter.

The 'new' Seadrill estimated to be worth USD 1.2bn

SEB evaluates that the recently restructured Seadrill will have a fair equity value of about USD 1.2bn. Since the news of the restructuring broke over the weekend, the Seadrill stock price has only plummeted.

Equinor continues advance in Q2

After a year of seeing deficits in several quarters, Equinor now maintains the fine form the company came into during the first quarter 2021.

Shipping companies raise huge sums in sustainability-linked credit facilities

Seaspan, Hafnia, Hapag-Lloyd, Euronav and Odfjell have all secured financing of approximately USD 1.5bn that is linked to meeting climate targets. This opens up for more access to capital, but also comes with increased reputation risks, the head of investor relations at Odfjell tells EnergyWatch's sister media ShippingWatch.

Seadrill secures comprehensive restructuring deal

John Fredriksen's strained drilling company Seadrill has settled a comprehensive restructuring agreement with a majority of its lenders, which among other things reduced the company's debt liabilities by almost USD 5bn.

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