Noble warns of Q4 loss of US$1.7-1.9 billion

Singapore

NOBLE Group has warned of a net loss surpassing the billion-dollar mark for the three months ended Dec 31, 2017 - the group's fourth consecutive quarterly net loss - and also for the full year.

In its profit guidance issued on Monday, the group said it is expecting a fourth-quarter net loss in the range of US$1.7 billion to US$1.9 billion, bringing full-year net loss to between US$4.8 billion and US$5 billion.

Noble's Q4 loss comprises an adjusted net loss from its continuing hard commodities, freight and LNG operations between US$50 million and US$100 million; net loss from its discontinued global oil liquids and North American gas and power operations in the range of US$225 million to US$275 million; and exceptional items - including significant non-cash mark to market losses due to reserves and…