Dutch SBM Offshore sticks to outlook after settlement
AMSTERDAM Nov 13 (Reuters) - SBM Offshore NV, the Dutch oil platform leasing firm, on Thursday said it was sticking to its 2014 revenue guidance, even with tough short-term conditions in the oil and gas market.
SBM Offshore settled a long-running bribery investigation with Dutch authorities on Wednesday for $240 million (193 million euros) and said U.S. authorities had dropped their probe.
Brazil's comptroller general's office said late Wednesday that it too was considering penalising SBM Offshore, including a ban on futures contracts with state-run oil company Petroleo Brasileiro SA.
It did not give numbers and said it could be lenient because the company had cooperated with authorities.
In its outlook, SBM said in a statement the "short term market outlook remains challenging as we continue to see delays in final investment decisions and ultimately awards."
It reiterated that it expects 2014 directional1 revenue, or forward looking revenue on projects not yet in the books, of $3.3 billion, of which $2.3 billion is expected in the turnkey segment and $1 billion in the lease and operate segment.
SBM Offshore's year-to-date 2014 directional1 revenue was flat at $2.52 billion versus $2.51 billion in the year-ago period. (1 euro = 1.2444 US dollar) (Reporting by Anthony Deutsch; Editing by Biju Dwarakanath)
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