Hunting for an oil service group cautions that the global energy industry would recover more slowly than projected because Covid’s infection rate interferes with clients’ investment decisions.
According to Hunting, full-year EBITDA will be around $ 10 million lower than last year. That contradicts June’s forecast that EBITDA would exceed $ 26 million in full-year 2020. Hunting reported an EBITDA loss of $ 3.6 million for the six months ending June, compared to a profit of $ 28.4 million the previous year. Revenue for the first half of the year was $ 244.4 million, a 35% decrease.
Haze stated that he would resume dividend payments after the rapid rebound of the global labor market increased commission income. The dispatching firm said that its cash balance was adequate to pay a special dividend of 8.93 Pennsylvania shares in November, in addition to the regular annual payout of 1.22 Pennsylvania shares per share. Following a 13% increase in fees in the second half, full-year pre-tax profit grew 2% to GBP 88.1m by June, countering a 24% fall in the first half.
CRH Building Materials Group We increased payouts following a 25% increase in half-year base profit. The Dublin-based company reported $ 2 billion in interim EBITDA on $ 14 billion in revenue, a 14 percent increase. According to the CRH, strong trading patterns in the US and Europe resulted in a rise in EBITDA year on year in the second half, despite input cost inflation.
Russian bull miners have approved the Prognoz Silver project’s rapid development, claiming to meet their full-year output targets. The company’s six-month results showed a net profit of $419 million, an 11% year on year, with revenues climbing 13% to $1.3 billion due to rising metal prices.
Financial Conduct Authority of Newfoundland and Labrador stated that Binance is “incapable” of being effectively supervised, despite the “significant risk” posed by cryptocurrency exchanges with no established headquarters.
Oil and gas producers
A new law requiring big oil and gas companies to pay for the expense of removing their offshore rigs from the water passed through Parliament this week. With federal Resources Minister Keith Pitt telling business that taxpayers will not foot the tab.
The Offshore Petroleum and Greenhouse Gas Storage Amendment Bill impose a trailing responsibility on offshore petroleum firms beginning on January 1, this year. It gives the government the authority to compel past owners of an asset to pay for decommissioning if the current owner cannot do so. Industry and environmental organizations have cautiously welcomed the rule controlling Australia’s offshore oil and gas fields on the North West Shelf in Western Australia and the Bass Strait.
According to a representative, the Australian oil and gas industry is dedicated to conserving the maritime environment and safely decommissioning its assets. The sector widely welcomes this new decommissioning policy framework, which includes solid financial guarantees.
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