Seadrill lost NOK 5.5 billion in the first half of the year

Seadrill lost NOK 5.5 billion in the first half of the year

Seadrill, John Fredriksen’s crisis-stricken deepwater drilling company, reported gloomy results for the first half of 2021 – a net loss of NOK 5.5 billion.

On Friday morning, the company presented the figures for the first half of the year. The figures show a net loss of USD 605 million or NOK 5.5 billion.

The company is undergoing an extensive restructuring process to get rid of debt and hopes to complete the process in November. Seadrill is one of the world’s largest drilling contractors with a fleet consisting of semi-submersible rigs, jack-up rigs, drilling vessels, and barge rigs.

“Seadrill has continued to operate efficiently and safely throughout the first half of the year, despite the fact that disruptions as a result of COVID-19 have challenged the logistics in this industry,” Seadrill CEO Stuart Jackson stated in the quarterly report that was presented on Friday morning, according to newspaper Finansavisen.

In February this year, the company applied for bankruptcy protection in the United States. It was the second time in four years that Seadrill had to apply for bankruptcy protection. The last time was in 2017.

Shipowner John Fredriksen is the largest shareholder in Seadrill through the company Hemen Holding. 

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

Internet Explorer Channel Network
News Related


Norway in numbers: A snapshot of the nation in 2021

As an eventful year draws to a close, with a sense of normality slowly creeping back into life and society, now is a good time to take a snapshot of ... Read more »

Anne McElvoy: We've wasted 25 we need real climate policies, not just hot air

© Natasha Pszenicki AnneMcelvoyByline21.jpg Cop26 is nearly upon us: and the diplomatic prelude kicks off today as the Government published its Net Zero transformation plans. You can’t fault the va-va-vroom ... Read more »

Mortgage alert: Homeowners may have to fork out thousands to improve homes in new rules

Under new Government plans to decarbonise Britain’s housing stock, ministers are planning to encourage mortgage lenders to lend more on top of the price of the property to cover the ... Read more »

Boris Johnson tax cut plans: PM hints at future tax cuts but how will it impact YOU?

Tax rises are expected in a bid to recover costs spent throughout the pandemic. Polls by Kekst CNC shows 90 percent of people expect to feel strapped by higher costs ... Read more »

[Herald Interview] ‘For durable recovery, S. Korea's monetary policy can remain accommodative'

Krishna Srinivasan, deputy director of the IMF’s Asia and Pacific Department The Bank of Korea’s August decision to raise its key rate has sent a market signal that the pandemic-triggered ... Read more »

Martin Lewis tells MPs how woman lost £15,000 to scammers who impersonated him

Martin Lewis has told MPs how one woman lost £15,000 to scammers who were pretending to be him. The MoneySavingExpert described how people’s lives were being “destroyed” as he gave ... Read more »

Martin Lewis issues urgent final warning to anyone with a Tesco Clubcard

Martin Lewis has issued a warning to Tesco Clubcard users not to miss out on a ‘free boost’ to their points. The Money Saving Expert has revealed how shoppers can ... Read more »

'That makes you STUPID!' - Dave Ramsey shares 5 tips for building wealth in epic rant

On a video posted on The Ramsey Show – Highlights YouTube channel in 2019, Dave Ramsey ranted to his viewers that things he teaches is “proven” and “not a theory”. ... Read more »

Op-ed: Should you use extra cash to invest or pay off debt? Here are some options

eyetoeyePIX | E+ | Getty Images A frequent question that I get asked as a financial advisor revolves around paying off debt versus investing when the opportunity arises. Typically, someone ... Read more »

A short introduction to the 2021 Nobel Literature Prize winner: Refugee-turned-novelist Abdulrazak Gurnah

Author Abdulrazak Gurnah (72) received this year’s Nobel Prize in Literature. The former refugee writes, among other things, about colonialism and the fate of refugees. From Tanzania to the UK ... Read more »

Several men charged with aggravated home robbery in Bergen

Four men have been charged with a number of robberies in Bergen, including a home robbery where the robbers took several hundred thousand kroner. Two of the men will be ... Read more »

Stocks making the biggest moves in the premarket: Procter & Gamble, Johnson & Johnson, Travelers and more

Take a look at some of the biggest movers in the premarket: Procter & Gamble (PG) – The consumer products giant beat estimates by 2 cents a share, with quarterly ... Read more »

Man charged with NAV murder in Bergen agrees to extended custody

The man accused of killing an employee at a NAV office in Bergen in September agreed to eight weeks in custody. On Tuesday morning, the accused man’s defense counsel, lawyer ... Read more »

Market bull Jim Paulsen downplays inflation fears, sees rising prices contributing to an economic boom

A long-term bull believes inflation shouldn't scare investors. According to Jim Paulsen of the Leuthold Group, rising prices should boost the market and economy. “If we just end up elevating ... Read more »

No more cheap debt for landlords as buy-to-let rates rise

The threat of a rate rise by the Bank of England has spooked lenders into increasing prices and pulling deals for landlords sooner than expected.  © Provided by The Telegraph ... Read more »

Nortura: 147 employees in Steinkjer and Stavanger lose jobs

A total of 79 Nortura employees in Steinkjer and 68 in Stavanger will lose their jobs. They will be offered a new job, but only if they move. The background ... Read more »

UK strikes £400m green investment deal with Bill Gates - live updates

© Leon Neal – WPA Pool /Getty Images Bill Gates Boris Johnson Global Investment Summit – Leon Neal – WPA Pool /Getty Images Johnson seeks upper hand over Macron with ... Read more »

Buy-to-let mortgage rate rises mark end of cheap debt boom for landlords

The threat of a rate rise by the Bank of England has spooked lenders into increasing prices and pulling deals for landlords sooner than expected.  © Provided by The Telegraph ... Read more »

Electricity production in Norway fell by more than 6% in the third quarter

Less water in the reservoirs resulted in significantly lower power production in the third quarter of this year – compared to the same period last year. The decrease amounted to ... Read more »

Rishi Sunak warned Britons' incomes hit by £1,000 cut - and that's BEFORE new tax rises

Households are set to see their real incomes hit by two percent in 2022. The Resolution Foundation said “there will be major headwinds to families’ spending power” in the months ... Read more »

Banks pull cheapest mortgage deals off market as interest rates set to rise

© PA Wire Interest rates and unemployment BANKS are poised to pull their cheapest mortgage deals off the market as interest rates rise, sending the cost of home loans sharply ... Read more »

Boris Johnson addresses global investment summit - live updates

Johnson seeks upper hand over Macron with flurry of green deals Soaring inflation deals £1,000 blow to household finances FTSE 100 falters Matthew Lynn: Three reasons to scrap the online ... Read more »

Dave Ramsey explains five things that will help people ‘win with money'

On a video posted on The Ramsey Show – Highlights YouTube channel in 2019, Dave Ramsey ranted to his viewers that things he teaches is “proven” and “not a theory”. ... Read more »

HSBC and 18 other banks can now sell wealth investment products in the Greater Bay Area

The HSBC Holdings Plc building, left, and the Standard Chartered Plc building stand in Hong Kong, China, on Thursday, June 4, 2020.Roy Liu | Bloomberg | Getty Images HSBC and ... Read more »

Oslo Labor Party criticized for absence of women in top leadership

Abdullah Alsabeehg has been elected deputy mayor of the Oslo Labor Party. Thus, men hold all of the five top positions. “It is strange that the Oslo Labor Party does ... Read more »

CrossFirst Bankshares (CFB) Beats Q3 Earnings Estimates

CrossFirst Bankshares (CFB) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.15 per share a ... Read more »

Will ETFs Suffer as US Consumer Sentiment Falls in October?

Concerns about coronavirus cases, inflationary levels and supply-chain challenges finally took a toll on the U.S. consumer sentiment. The University of Michigan’s preliminary consumer sentiment declined to 71.4 in October from ... Read more »

CDW (CDW) Surges 4.8%: Is This an Indication of Further Gains?

CDW CDW shares soared 4.8% in the last trading session to close at $186.23. The move was backed by solid volume with far more shares changing hands than in a ... Read more »

Vernacular Edtech Platform Vidyakul Raises Funding From Dholakia Ventures

Dholakia Ventures, an investment arm of Dholakia Family Office has invested an undisclosed amount in Vidyakul, a vernacular after-school e-learning platform. The investment arm of Diamond King of Surat Savji ... Read more »

Agri Supply Chain Startup Onato Raises $2.2 Mn Seed Round Led By Vertex Ventures And Omnivore

Bengaluru-based Onato, a data-driven B2B platform for fresh produce, emerged out of stealth and announced a seed financing of USD 2.2 million. This round was led by Vertex Ventures Southeast ... Read more »

Cardano Use Cases Will Boost Its Value Moving Forward

InvestorPlace – Stock Market News, Stock Advice & Trading Tips – InvestorPlace Cardano (CCC:ADA-USD) looks like a hot commodity again following its move past significant resistance. Source: Stanslavs / Shutterstock There ... Read more »

Changing Fintech Landscape And Customer Expectations

Digital lending is emerging as a viable alternate for reaching those who have not been able to access financial services in the past. Innovative products are capable of overcoming geographical ... Read more »

Will Netflix Continue to Silence Its Doubters With a Strong Earnings Report?

Netflix (NASDAQ:NFLX) will report earnings on October 19 after the market closes. The company is expected to deliver earnings per share (EPS) of $2.56 on revenue of approximately $7.5 billion. contributor/ ... Read more »

Seoul halves recommended agency fees to relieve housing price burden

Seoul apartments are seen from Namsan. (Yonhap)Legally suggested brokerage fees were lowered around 50 percent starting Tuesday, over implementation of the related law revised to reduce burden on soaring housing ... Read more »

Norway's Energy Minister promises to put in place measures to help those struggling to pay electricity bills

Electricity prices in Norway are at a record high level. The new Minister of Petroleum and Energy promises to put in place measures to help those who are struggling to ... Read more »

Politics latest news: Replacing gas boilers with heat pumps will be compulsory in long-term, suggests minister

© Evgen_Prozhyrko /iStockphoto Plumber repairing a gas boiler of a heating home system in the boiler room.  – Evgen_Prozhyrko /iStockphoto Boiler upgrade scheme limited to just 90,000 households Sir David Amess suspect ... Read more »

Watch CNBC's Sustainable Future Forum Asia: Providing Energy

[The stream is slated to start at 2 a.m. ET. Please refresh the page if you do not see a player above at that time.] Click on the stream above ... Read more »

Foreign investors pile into London, making it Europe's 'cleantech' capital

© Provided by City AM London was the leading city in Europe for ‘cleantech’ projects last year, with investors piling into the cause as the UK chases its net zero ... Read more »

How to help your children buy a property without giving away cash

© Provided by The Telegraph illo This is a four-part series about helping your family on to the property ladder – without unnecessarily shelling out to the taxman. In the ... Read more »

Soaring inflation deals £1,000 blow to household finances

Rocketing prices will deal a £1,000 blow to household finances next year as higher inflation also slashes an expected Budget windfall for the Chancellor. © Provided by The Telegraph Rishi ... Read more »