Rio de Janeiro, February 1, 2019 - Petróleo Brasileiro S.A - Petrobras, following up on the notice to the market released on 10/30/2018, informs that it has initiated the mothballing process of the fertilizer plant  located in Sergipe (Fafen-SE) and that it continues with the lease bidding process for this unit and for the unit... Continue Reading →

Oil giant ExxonMobil saw its fourth quarter 2018 earnings drop 28 percent compared to the fourth quarter of 2017 as last year’s result was boosted by tax reform. ExxonMobil on Friday reported earnings of $6 billion, down from $8.3 billion realized in the fourth quarter of 2017. The 4Q 2017 result included a gain of... Continue Reading →

  Chevron has reported an increase in earnings for the fourth quarter 2018, posting a net income of $3.7 billion, up from $3.1 billion billion in the fourth quarter 2017. The difference in earnings would have been even bigger in comparison, as 4Q 2017 result included $2.02 billion in tax benefits related to U.S. tax... Continue Reading →

  Brazilian oil major Petrobras has said it has paid $682.6 million as part of the non-prosecution settlements entered into last year with the U.S. and Brazilian authorities over the investigation into violations of the Foreign Corrupt Practices Act (FCPA). Petrobras has this week said that it paid “the Commitment Assumption Agreement (“Agreement “), made with the... Continue Reading →

1/31/19 The National Council for Energy Policy (CNPE) published Resolutions 17 and 18 of 12/17/2018, which authorize the National Petroleum, Natural Gas and Biofuels Agency (ANP) to carry out Bid Rounds for exploration and production of oil and natural gas on the Brazilian coast. Resolution No. 17 authorizes the holding of the 16th Bidding Round,... Continue Reading →

Royal Dutch Shell said to would stick to spending discipline this year after 2018 profits jumped by more than a third to $21.4 billion, their highest since 2014. The Anglo-Dutch oil company also reported a sharp rise in cash generation, in a further sign that cost savings since the 2014 oil market downturn are filtering... Continue Reading →

1/31/2019 IRVING, Texas -- ExxonMobil Corporation will streamline its upstream organization and centralize project delivery across the company to support previously announced plans to double operating cash flow and earnings by 2025. “We’re simplifying and integrating our upstream organization to better capitalize on the industry-leading portfolio we’ve assembled through acquisitions and exploration success in the... Continue Reading →