European Union climate policy negotiations are not really moving forward. A compromise regarding the carbon reduction target seems tough to strike and puts pressure on the EU Commission, which is supposed to present a series of legislative proposals this summer to help achieve the goal.
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.
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.