BP saw the largest increase in profit in the first quarter of 2021 compared to the same period of 2020, the agency’s calculations showed.
BP reported a profit attributable to shareholders of $4.7 billion in Q1 2021, compared to a loss of $4.4 billion for the first quarter of 2020. The supermajor resumed share buybacks this quarter after more than tripling its first-quarter earnings from a year ago on the back of rising oil prices and “exceptional gas marketing and trading performance.” BP reported underlying replacement cost profit—its proxy for net profit—of $2.63 billion, up from $791 million for the first quarter of last year and from just $115 million for the fourth quarter of 2020.
In terms of revenues, Anadolu Agency’s estimates show that combined revenues of the top ten oil firms increased by 6.6 percent annually to around $387 billion. Saudi Aramco’s revenues rose the most—by 20 percent to $80 billion.
The Saudi giant also reported a 30-percent jump in net income for the first quarter of the year to $21.7 billion.
New York: Oil prices reached fresh multi-year highs on Friday, closing out a third straight week of gains on an improve outlook for worldwide demand as Covid-19 vaccination rate help lift pandemic curbs. Brent crude futures settled at US$72.69 a barrel, rising 17 cents after reaching their highest since May 2019. For the week Brent was up 1%
After 5 am tomorrow, all activities will be allowed except some activities that will be prohibited and some activities that will be done in a restricted manner. A detailed order will be issued,” Kejriwal said.
India further ease covid restriction, finally, China, USA , India and Euro are reopen except border..
... If oil price increases, ppl are buying Sapura Energy for future potential. With oil price increase, operators will increase CAPEX later on, which involves Sapura's EPCIC business. Increase CAPEX means more drilling program, which will increase rig utilization. Sapura OMV has 30,000 Barrel Oil Equivalent that can get direct revenue from the oil price increase, as well as additional revenue from gas sales since oil price & gas price usually in tandem.
If buying into future growth, I can relate.
But buying for contra is dangerous/risky/unpredictable.....very difficult to move this counter as it's very heavy with 15.9 billion shares, not to mention 1.1 gearing ratio.
PNB owns 39% of the Sapura Energy shares...so, at least we can say PNB won't let this company go down without supporting it.
@driller.... Sapura OMV has 30,000 Barrel Oil Equivalent that can get direct revenue from the oil price increase, as well as additional revenue from gas sales since oil price & gas price usually in tandem.
Can enlighten more info on this? I was looking for info on how much Sapura can be benefited from the oil hike...
Does this mean, with SAPURA produce 30,000 barrel equavalent a day from its joint ventures...and every increase in 1USD per barrel will add 30,000 USD extra profit to Sapura daily?
SapuraOMV's fields are all gas field. But, as you produce gas, you'll get oil condensate (BOE - Barrel Oil Equivalent) on surface.
From their recent Annual Report, they are producing 30,000 BOE per day. So, rough calculation, every day USD70 per barrel x 30,000 bbl of revenue, roughly USD 2.1 Mil per day. Need to deduct the cost of production...which I don't know what is the number.
... If you refer in the link below... SapuraOMV's total BOE is 37,000 barrel per day. Then sold the PM Asset to Jadestone Energy..lost 6000 bbl BOE per day.
... Don't forget, whenever SapuraOMV sell that BOE barrel of oil....government receives royalty, government receives tax money, JV partners get their portion, deduct production cost some more....so, the value will be smaller.....I don't know the actual numbers. But definitely as the oil price increase, the revenue from Barrel oil Equivalent BOE/day will increase.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Godofgambler
5,307 posts
Posted by Godofgambler > 2021-06-12 01:18 | Report Abuse
Cashflow.. I don't buy your story