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petro-king oilfield svcs ltd (2178) Details

Petro-king Oilfield Services Limited, an investment holding company, provides oilfield technology and oilfield services. It primarily offers technical consultation, project management, well drilling, completion, stimulation, production, surface equipment, and testing equipment in oilfield. The company’s oilfield project services include oilfield development plan, procurement advice, and installation of tools and equipment; and on-site project management services for drilling, well completion, and production enhancement. It also provides integrated project management services that include engineering and designing overall development plan for an oilfield project; assisting and providing advice on sourcing; oilfield project management services in technical areas, including drilling, well completion, downhole operation, oilfield equipment installation, and production enhancement; and providing on-site operational management, supervision, support, and advice. In addition, the company offers supervisory services that comprise management, supervision, and technical support in technical areas in various stages of the oilfield project. Further, it researches, develops, manufactures, sells, and trades tools and equipment; and manufactures and repairs oilfield and gasfield machinery and equipment. Additionally, the company engages in oilfield technology promotion; research and development of petroleum engineering equipment; and repair and maintenance of drilling and well completion equipment. It provides its products and services in China, the Middle East, Russia, Australia, Canada, South America, Singapore, Indonesia, Taiwan, Kazakhstan, Kyrgyzstan, Turkmenistan, the Republic of Trinidad and Tobago, and the Gabonese Republic. The company was formerly known as Termbray Petro-king Oilfield Services Limited and changed its name to Petro-king Oilfield Services Limited in May 2014. Petro-king Oilfield Services Limited was founded in 2002 and is headquartered in Shenzhen, China.

364 Employees
Last Reported Date: 09/21/16
Founded in 2002

petro-king oilfield svcs ltd (2178) Top Compensated Officers

Total Annual Compensation: $850.0K
Executive Director
Total Annual Compensation: $743.0K
Compensation as of Fiscal Year 2015.
petro-king oilfield svcs ltd
Petro-king Oilfield Services Limited Announces Executive Changes

The board of directors of Petro-king Oilfield Services Limited announced that with effect from December 1, 2016, Mr. Zhao Jindong, has resigned as the chief executive officer of the Company due to health reasons, but will remain as an executive Director. The Board announced that Mr. Zeng Weizhong has been appointed as the CEO with effect from December 1, 2016. Before joining the Group, Mr. Zeng was a vice president of Schlumberger China S.A.

Petro-King Oilfield Services Limited Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2016

Petro-king Oilfield Services Limited reported unaudited consolidated earnings results for the six months ended June 30, 2016. For the period, revenue was HKD 266,057,000 against HKD 416,351,000 a year ago. Operating loss was HKD 43,486,000 against profit of HKD 30,598,000 a year ago. Loss before income tax was HKD 56,751,000 against profit of HKD 14,249,000 a year ago. Loss for the period attributable to owners of the company was HKD 56,723,000 against profit of HKD 8,175,000 a year ago. Basic and diluted loss per share was 4 cents against earnings of 1 cent a year ago. Net cash used in operating activities was HKD 32,964,000 against cash generated from operating activities of HKD 5,877,000 a year ago. Purchases of property, plant and equipment was HKD 17,507,000 against HKD 36,077,000 a year ago. The Group's revenue has decreased by approximately 36% as compared to same period of 2015. The decrease in revenue was mainly due to the decline of business activities as a result of postponing investments, delaying in project execution by major E&P operators in Middle East and the substantial downsizing of the business operations in Venezuela.

Petro-king Oilfield Services Limited to Report First Half, 2016 Results on Aug 25, 2016

Petro-king Oilfield Services Limited announced that they will report first half, 2016 results on Aug 25, 2016


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