Finance News

Exxon Mobil Corporation has announced estimated second-quarter 2021 earnings of $4.7 billion, or $1.10 per share assuming dilution, compared with a loss of $1.1 billion in the second quarter of 2020. Second-quarter capital and exploration expenditures were $3.8 billion, bringing the first half of 2021 to $6.9 billion, which is consistent with planned lower activity in the first half of the year.

Despite projected demand recovery post-2020, the global offshore support vessel (OSV) market continues to face a utilization challenge – this is according to collaborative research from Braemar ACM Shipbroking (Braemar), one of the world’s largest chartering, derivative and S&P shipbroking companies and Westwood Global Energy Group (Westwood), the specialist energy market research and consultancy firm.

JP Morgan emerged as the top financial adviser for mergers and acquisitions (M&A) by both value and volume in the oil & gas sector for H1 2021, having advised on 18 deals worth US$66.7bn. A total of 802 M&A deals were announced in the sector during H1 2021, according to GlobalData, a leading data and analytics company.

America’s marine economy contributed about $397 billion to the nation’s gross domestic product in 2019 and grew faster than the nation’s economy as a whole, according to the most current results of the first official Marine Economy Satellite Account released today by two Department of Commerce agencies.

Kraken Robotics Inc. has signed a definitive share purchase agreement (the “PanGeo Agreement”) whereby Kraken Robotics Systems Inc., a wholly-owned subsidiary of Kraken, will acquire all of the issued share capital of PGH Capital Inc. (“PGH Capital”) on substantially similar terms to those set out in the non-binding letter of intent dated April 8, 2021, and disclosed in the Company’s press release dated April 9, 2021 (the “PanGeo Transaction”).

The global liquefied natural gas (LNG) market, which was set to be constantly loose in the second part of this decade, is instead set to get tighter and could even see annual supply deficits as a result of likely delays in the development of LNG projects in Mozambique due to the country’s worsening security situation, a Rystad Energy report reveals.

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