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AfricaItaly s Saipem warns on outlook after Mozambique uncertainty ReutersStephen Jewkes 3 minutes read A staff member is seen on the Saipem 10000 deepwater drillship in Genoa s harbour, Italy, November 19, 2015. REUTERS/Alessandro Garofalo/File Photo Italian energy service group Saipem (SPMI.MI) said it was unable to update its outlook for the year due to uncertainty over a project in Mozambique as it missed first-quarter expectations. Earlier this week French energy group Total (TOTF.PA) declared force majeure on its $20 billion liquefied natural gas (LNG) project in Mozambique following insurgent attacks. read more Evaluations in close cooperation with the client are underway to preserve the value of the project, Saipem Chief Executive Stefano Cao said on Wednesday, during a conference call on results. ....
By Reuters Staff 2 Min Read A staff member is seen on the Saipem 10000 deepwater drillship in Genoa s harbour, Italy, November 19, 2015. REUTERS/Alessandro Garofalo/File Photo MILAN (Reuters) - Italian energy services group Saipem said on Wednesday it was unable to confirm or update its outlook for the year because of uncertainty surrounding a project in Mozambique. Earlier this week French energy group Total declared force majeure on its $20 billion liquefied natural gas (LNG) project in Mozambique following insurgent attacks. “Evaluations in close cooperation with the client are under way to preserve the value of the project,” Saipem said in a statement on first-quarter results, which showed a net loss of 120 million euros, better than the loss a year earlier but below a Refinitiv consensus estimate for a loss of 75 million euros. ....
Saipem cuts first-quarter loss despite revenue slump upstreamonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from upstreamonline.com Daily Mail and Mail on Sunday newspapers.
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Italy's Saipem warns on outlook after Mozambique uncertainty reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.