SBM Offshore Wins Order for New Exxon Mobil FPSO

AMSTERDAM, July 3 (Reuters) - Dutch marine engineer SBM Offshore has won a contract to supply a new production vessel for oil major Exxon Mobil in Guyana, setting its shares on track for their biggest gain in nearly two years. Under the terms of the deal, SBM will engineer and design a second floating production, storage and offloading vessel (FPSO) for the Liza oil and gas … [Read more...]

SBM Offshore to Pay $238 Million in Bribery Case Spanning Five Countries

Netherlands-based offshore company SBM Offshore and its U.S. subsidiary SBM Offshore USA have reached an agreement to pay a criminal penalty of $238 million to resolve criminal charges in the U.S. in connection with schemes involving the bribery of foreign officials in Brazil, Angola, Equatorial Guinea, Kazakhstan and Iraq, the Justice Dept. announced Wednesday. SBM Offshore … [Read more...]

SBM Offshore Expects Revenue to Fall for Third Straight Year

Feb 8 (Reuters) - SBM Offshore expects 2017 revenue to fall 15 percent as the world's top oil production ship leasing company said it sees early signs of stabilisation in the offshore industry, but warned that the recovery was slow. "2017 is not going to be a good year in terms of order intake ... we're still in a phase of slow recovery in the industry," Chief … [Read more...]

SBM Offshore Axing More Jobs Due to Weak Oil

By Alan Charlish Aug 10 (Reuters) - SBM Offshore's first-half results lagged analysts' expectations on Wednesday as challenging conditions persisted in the oil industry and the Dutch oil services company announced an additional 250 job cuts. It said it did not expect a full recovery in its business until 2018, after its revenues slid 40 percent in January-June. Oil and … [Read more...]

SBM Offshore Reaches Leniency Deal in Brazil

By Elco van Groningen (Bloomberg) -- SBM Offshore NV, a Dutch oil-services provider, rose the most in nine months in Amsterdam trading after reaching a leniency deal with Brazilian authorities following a corruption investigation. SBM climbed as much as 15 percent Monday, the biggest intraday gain since Sept. 28 and the most among companies on the Stoxx Europe 600 Oil … [Read more...]