Maersk Oil lifts profit on higher oil price, lower costs

first_imgMaersk OIl-operated Culzean development in the UK North SeaDanish oil company Maersk Oil increased its profit and revenues for the second quarter of 2017 helped by higher oil prices and lower costs. According to a financial report on Wednesday by Maersk Oil’s parent company, A.P. Moller – Maersk, Maersk Oil recorded an underlying profit of $184 million in the second quarter of 2017, compared to $130 million in the prior-year period.This result was driven by a higher average oil price of $50 per barrel versus $46 per barrel in 2Q 2016, lower costs and one-off income totaling $66 million related to tax and provisions. The result was partly offset by the lower entitlement production.The company’s revenues also increased totaling $1.37 billion in the second quarter of this year compared to $1.29 billion in the prior-year period.Maersk Oil reduced operating expenses excluding exploration costs and costs related to purchase of oil and gas for resale, by 3%, to $452m versus $468m in 2Q 2016.Cash flow used for capital expenditure was $259m, versus $330m in 2Q 2016, primarily directed at the Culzean, UK and Johan Sverdrup, Norway developments.The reduced entitlement production of 284,000 boepd, versus 331,000 boepd in 2Q 2016, was due to Qatar, where cost reduction and higher oil price led to fewer entitlement barrels for cost recovery in addition to unplanned production losses lowering the gross production.Maersk Oil exited Qatar in July after 25 years, having produced more than 1.75bn barrels of oil from the Al Shaheen field. The company said the exit from Qatar by mid-July progressed as planned. The economic finalization of the exit is still subject to review; however, Maersk Oil does not expect any adverse impact from this.Lower year-on-year production from mature assets in the UK also contributed. In Denmark, Kazakhstan, US, Algeria and Iraqi Kurdistan, production was in line with or slightly higher than same period last year due to good operational performance offsetting natural decline.The oil price is impacted by the prolonged OPEC production cuts agreed in May 2017 and was within a range of $44-55 per barrel in 2Q 2017 compared to $40-50 in the same period last year. Global supply surplus appears to extend also into 2018, however, significant uncertainty remains in the oil price outlook, the company concluded.Offshore Energy Today Stafflast_img read more

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Asian Games Asian Games 2018, Day 2: Vinesh Phogat wins gold in 50 kg freestyle wrestling

first_img For all the Latest Sports News News, Asian Games News, Download News Nation Android and iOS Mobile Apps. # BADMINTON – India lose in Quarters to Indonesia 1-3# VOLLEYBALL: Indian men’s volleyball players opens their campaign with a 3-0 win over Hong Kong in Pool F# KABADDI: Men’s Kabaddi team lose to Korea by a narrow margin of 23-24.# WRESTLING: Sumit Malik enters the bronze medal match# SHOOTING: Lakshay bags Silver medal in Men’s Trap Final!# WRESTLING: Vinesh Phogat in Women’s Freestyle 50kg Finals after a 10-0 win over Uzbekistan’s Yakhshimuratova Dauletbike.# WRESTLING: Sakshi Malik loses to Kyrgyztan’s Tynybekova Aisuluu in Women’s Freestyle 62kg by 7-8.# SHOOTING: Manavjit Singh Sandhu and Lakshay qualify for Men’s Trap Final.# WRESTLING: Pooja Dhanda loses to North Korea’s Jong Myong Suk by 0-10 in what was a total domination in Women’s Freestyle 57kg category.# WRESTLING: Sakshi Malik reaches semi-finals by thumping Kazakhstan’s Kassymova Ayaulym 10-0 in Women’s Freestyle 62kg category.# BADMINTON: Kidambi Srikanth loses to Indonesia’s Anthony Sinisuka Ginting by 21-23, 20-22, 10-21 in Men’s Team Quarter-Finals.# TENNIS: Kamran Kaur Thandi defeats Altansarnai Jargal of Mongolia by 6-1, 6-0 in Women’s single round of 32.# WRESTLING: Pooja Dhanda enters Women’s Freestyle 57kg semi-finals with a 12-1 win over Uzbekistan’s Esenbaeva Nabira.# SHOOTING: Seema Tomar ends in last position in Women’s Trap Final.# WRESTLING: Pooja Dhanda absolutely mauls Thailand’s Sookdondyor Orasa by 10-0 to advance to Women’s Freestyle 57kg quarter-finals.# SHOOTING: Seema Tomar qualifies for Women’s Trap Finals. While Shreyasi Singh failed got eliminated# SHOOTING: Vinesh Phogat enters quarter-finals by defeating China’s Sun Yanan 8-2 in Women’s Freestyle 50kg.# SHOOTING: Apurvi Chandela finished fifth in the Women’s 10m Air Rifle event.# HANDBALL: India defeats Malaysia by 45-19 in Men’s Handball main round# SEPAKTAKRAW: India defeats Iran# ROWING: Team India advance to Men’s 4x200m Freestyle Relay Final# TENNIS: Ankita Raina defeats Indonesia’s Gumulya Beatrice to reach Women’s singles Last 16.# BADMINTON: Saina Nehwal has been beaten by Nozomi Okuhara by 21-11, 23-25, 21-16 in the third match. Japan now leads 2-1.# SHOOTING: Apurvi Chandela qualifies for 10m Air Rifle Women Finals.# BASKETBALL: India were defeated by Unified Korea 54-104 in their second Group A match.# KABADDI: Indian women team beat Thailand 33-23 in Group A match.# MEDAL TALLY:  India-3 (1 gold, 1 silver, 1 bronze)# SHOOTING: Deepak Kumar bags the silver medal in Men’s Shooting 10m Air Rifle.# SHOOTING: Deepak Kumar confirms Silver medal as Chinese Taipei shooter gets eliminated, he is fighting for the GOLD now!# #Badminton: Japan levels India 1-1 as Yuki Fukushima and Sayaka Hirota defeat N Sikki Reddy and Arathi Sara by 15-21, 6-21.# SWIMMING: Advait Page finishes third in Men’s 800m Freestyle swimming event # BADMINTON: PV Sindhu defeats Akane Yamaguchi by 21-18, 21-19 in the first match of the Women’s Team Quarter-final.# SHOOTING: Ravi Kumar and Deepak Kumar finish fourth and fifth in the qualification and qualify for the 10m Air Rifle Men Finals.# ROWING: Dushyant qualifies for Men’s Lightweight Single Sculls Finals New Delhi: On day 2 of the Asian Games 2018, Vinesh Phogat created history by becoming the first Indian woman wrestler to win a gold medal at the Asiad. Vinesh defeated her Japanese rival Yuji Irie 6-2 in the 50 kg category. This was India’s second Gold medal at 2018 Asian Games after Bajrang Punia, who won yellow metal in the 65 kg Freestyle wrestling event on day 1.Asian Games 2018, Day 2: India’s complete Schedule, TimingsEarlier on Sunday, India had a decent start in the Asian Games 2018 and bagged two medals – a gold by Punia and bronze by the duo of Apurvi Chandela and Ravi Kumar.  Asia’s biggest sporting extravaganza also witnessed some big upsets for India as Sushil Kumar got knocked out in the qualifying round and the duo of Manu Bhaker and Abhishek Verma failed to qualify for the medal round.Day 2 has many exciting matches lined up and the fans are definitely in for a treat as Indian athletes eye for more medals!ALSO READ: Who is Bajrang Punia? 5 facts about India’s first gold medallistUpdates of Asian Games 2018:# India assured of first ever medal in Sepak Takraw: India has assured itself of a maiden Asian Games medal in Sepak Takraw by progressing to the semifinals with a win over Iran. India defeated Iran 21-16, 19-21, 21- 17 in the first match to make a winning start to their campaign.# Another GOLD: Vinesh Phogat wins gold in 50 kg freestyle wrestlinglast_img read more

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Amel Tuka won the first place in Bar

first_imgBiH athlete Amel Tuka won the first place in the 400 metres race at the International competition in Montengrin town Bar, reports sportsport.baTuka’s result was 47.19 which is the new record of BiH for athletes up to 23 years in this athletic discipline.He is the member of the athletic club ‘Zenica’ and he defeated best ranked athletes of Europe, representative of Ireland and representative of Spain.(photo:wikimedia)last_img

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