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CNOOC Ltd (0883.HK), the listed arm of China’s largest offshore oil and gas producer, on Thursday reported a 27.9% jump in capital spending in the third quarter amid Beijing’s push to boost oil and gas exploration and production. Capital expenditure at CNOOC reached 19.53 billion yuan ($2.76 billion) during July-September, up from 15.27 billion yuan... Continue Reading →
Following its recent two oil discoveries, Tullow Oil and its partners in the Orinduik block located offshore Guyana are reviewing multiple prospects on the block and working to approve the budget for the 2020 drilling campaign. Tullow is the operator of the Orinduik block with a 60% Working Interest while Total and Eco Atlantic have... Continue Reading →
The Peregrino C jacket, built by Heerema Fabrication Group for Equinor, has left a fabrication yard in the Netherlands and sailed away to Brazil. Equinor awarded Heerema Fabrication Group the procurement & construction contract for the Peregrino II WHP C Jacket in May 2017. The construction started in November 2017 at Heerema’s Vlissingen yard. In a social media post... Continue Reading →
October 23, 2019 -Petróleo Brasileiro S.A. - Petrobras, in addition to the press release issued on May 21, 2019, reports that its Board of Directors has ratified the signature and approved adjustments to the draft Amendment to the Transfer of Rights Agreement. Such ratification occurs after the issuing of MME Ordinance No. 265 of June... Continue Reading →
Italian energy services provider Saipem reported a rise in 2019 Q3 revenue and profit. The company’s revenue for the quarter grew to 2,36 billion euros, up from 2,22 billion a year ago. Net profit was 30 million euros, compared to a net loss of 34 million a year ago. Saipem’s offshore and engineering and construction division reported... Continue Reading →
Thursday, October 24th, 2019 (after B3’s trading hours) Conference Call and Webcast Date: Friday, October 25th, 2019 Time: In English: 11:30 am (Rio de Janeiro) | 10:30 am (New York) | 3:30 pm (London) In Portuguese: 10 am (Rio de Janeiro) | 9 am (New York) | 2 pm (London) Participants calling from: Brazil: +55... Continue Reading →
Oct 23, 2019 After nearly five months of negotiations, Petrobras signs contract to replace lost shipwrecked equipment Siemens and Petrobras signed a contract to supply four generators for the P-71, replacing those lost in the shipwreck in mid-May. According to sources, the removal of the new equipment will be made until January by the winner... Continue Reading →
Mexican industrial group Carso, owned by the billionaire Carlos Slim, has said it has been awarded a contract to build two offshore platforms for the Mexican oil company Pemex. The company said the contract for the engineering, procurement, and construction of two offshore platforms named MALOOB-E and MALOOB-I. The platforms are destined to be deployed... Continue Reading →
Expanding output from the pre-salt province starts to bear fruit for the Brazilian company Petrobras, the Brazilian state-owned oil company, recorded strong production performance across the third quarter, as record figures in the pre-salt region helped boost the firm’s upstream portfolio. Total hydrocarbon output for the quarter reached 2.88mn bl oe/d, a 9.3pc increase over... Continue Reading →
Oct 23, 2019 (Reuters) - Brazilian police conducted raids on Wednesday in a new phase of the sweeping “Car Wash” corruption probe targeting alleged bribery by Italo-Argentine group Techint to secure contracts from state-run oil firm Petroleo Brasileiro SA. Federal police and prosecutors said local Techint units Techint Engenharia e Construção SA and Confab Industrial... Continue Reading →
Brazil Energy Insight 