Energy Business Review: Fluor WINS I-95, Chevron BANNED In Brazil

Eni S.p.A. (NYSE:E) is increasing its interim dividend by 3.8 percent, in the face of sharply falling second quarter net profit, on the exclusion of regulated assets the Italian government has mandated that it divest. Separately, the firm discovers another natural gas site offshore of Mozambique, which adds another 10 trillion cubic feet to the potential of the area.

Triangle Petroleum Corporation (AMEX:TPLM) reports that Natural Gas Partners is buying $120 million worth of its convertible notes, and that it is running two operated rigs while five gross operated wells in McKenzie County are presently producing. In addition, Triangle’s fiscal year 2013 capital expense budget is raised to $173 million from $131 million.

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Fluor Corporation (NYSE:FLR) has been awarded a $925 million contract by the State of Virginia to build new lanes on Interstate 95. The company will book $691 million from that contract in the third quarter, and has also won a contract worth about $75 million to supply engineering, procurement and construction management services for an automotive sheet factory in Saudi Arabia.

Chevron Corporation (NYSE:CVX) and Transocean Ltd. (NYSE:RIG) face more fallout from the November oil spill in the former’s offshore Frade Field. The two companies are now banned by a court in Brazil from the extraction and transport of oil in that country, and have been given 30 days in which to halt activities or be subject to daily fines of 500 million reais, or approximately $245 million.

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