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February 27th, 2019 - FINANCIAL REPORT ANNUAL RESULTS OF 2018 - Consolidated financial information revised by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Net income R$ 2.1 billion Production 2,628 mil boed Adjusted EBITDA R$ 29.2 billion See attached financial reports Release-de-Resultado-4T18-US$-Ingles Release-de-Resultado-4T18-R$-Ingles
Most requests refer to auctioned blocks in the sixth and seventh rounds of the ANP The ANP is reviewing 56 requests for local content additions. Almost half of them (26) were submitted by Petrobras, while 22 by Petra Energia, three by Parnaíba Natural Gas (PGN), two by Niko Brasil E & P and one by... Continue Reading →
2/27/19 The maritime support fleet in Brazilian waters closed January with 367 vessels, of which 328 were Brazilian flag and 39 were foreign flag. The quantity remained stable in relation to December 2018, when 363 vessels (324 Brazilian flag and 39 foreign flag) were in operation or available pending hiring. In all, about 31 vessels,... Continue Reading →
Offshore drilling contractor Rowan Companies sank to a loss in the fourth quarter of 2018 from a profit in the year-before period. The driller says it is cautiously optimistic when it comes to improvements in overall offshore rig demand. For the quarter ended December 31, 2018, Rowan Companies reported a net loss of $14.3 million compared to... Continue Reading →
February 27, 2019 Petrobras postponed the tender submission deadline to charter up to three anchored drilling rigs to March 25, more than a month after the original deadline, which ended Feb. 20. With the new schedule, the tender of the 750 m water depth rigs will be held on March 26, while the 450 m... Continue Reading →
Seismic player Polarcus has reduced quarterly loss when compared to fourth-quarter 2017 as revenues increased close to 80 percent. The Oslo-listed company reported net loss for the quarter ended December 31, 2018 of $18.1 million, versus loss of $91.7 million in Q4 2017. However, Polarcus’ loss widened close to $10 million sequentially, as revenues fell... Continue Reading →
U.S oil major ExxonMobil has said it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production. ExxonMobil’s proved reserves totaled 24.3 billion oil-equivalent barrels at year-end 2018. Liquids represented 64 percent of the reserves, up from 57 percent in 2017. Exxon’s reserves were boosted by... Continue Reading →
Rio de Janeiro, February 26, 2019 - Petróleo Brasileiro S.A. - Petrobras, following up on the release dated 01/21/2019, reports that its Board of Directors, in a meeting held today, approved the nomination of Mr. Nivio Ziviani as member of the Board of Directors of the company. This nomination will be submitted to the upcoming... Continue Reading →
Prosecutors raided locations across the Netherlands on Tuesday as part of an investigation into the alleged use of shell companies to distribute $100 million in bribes on behalf of Brazilian conglomerate Odebrecht SA. Data and financial records were seized from half a dozen homes and businesses, the Dutch financial prosecutors said. A 48-year-old man was... Continue Reading →
After more than a decade of declining production, wasteful spending and a higher tax burden than any other driller in Latin America, it’s little wonder Mexico’s Petroleos Mexicanos is the world’s most indebted oil company. Pemex’s oil output has plunged by almost half since a 2004 peak, and its proven reserves are just a quarter of what... Continue Reading →
Brazil Energy Insight 