NABORS INDUSTRIES: TOMORROW NEVER DIES
NABORS published 4th Quarter and Full Year 2013 results:
• Q4-2013 to Q4-2012: growth from $ 1.607 B to $ 1.57 B, $ 37 M, 2.3%;
• Q4-2013 to Q3-2013: growth from $ 1.67 B to $ 1.55 B, $ 56 M, 3.5%;
• 2013 to 2012: down from $ 6.152 B to $ 6.843 B, $ 691 M, 11.2%.
INCOME BEFORE TAXES:
• Q4-2013 to Q4-2012: down with $ 102.88 M to $ 137.78 M, $ 34.9 M, 25.3%;
• Q4-2013 to Q3-2013: growth from $ 102.88 M to $ (134.44) M, $ 237.32 M, 230%;
• 2013 to 2012: down with $ 106.16 M to $ 262.76 M, $ 156.6 M, 59.6%;
• Q4-2013 to Q-4 2012: growth from $ 151.63 M B to $ 28.15 M, $ 123.48 M, 440%;
• Q4-2013 to Q3-2013: grouth from $ 151.63 M to $ (104.94) M, $ 237.32 M, 230%;
• 2013 to 2012: down from $ 147.16 M to $ 164.66 M, $ 17.5 M , 10.6%.
The Company's financial position continues to improve, with fourth-quarter free cash flow further reducing net debt by $148 million. Net debt now is less than $3.5 billion, with liquidity approximating $1.5 billion. Further progress is anticipated in the near term notwithstanding the capital requirements associated with numerous new rigs under construction.
More information here.
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AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.