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U.S. oil major ExxonMobil has outlined an aggressive growth strategy to more than double earnings and cash flow from operations by 2025 at today’s oil prices. “We’ve got the best portfolio of high-quality, high-return investment opportunities that we’ve seen in two decades,” Darren W. Woods, chairman and chief executive officer, said at the company’s annual... Continue Reading →
Odebrecht SA agreed in August to sell the Chaglla hydroelectric project to China Three Gorges Corp. The deal was supposed to close by Feb. 23 but has been on hold for months as the government decides how much of the proceeds to keep as a penalty and how much will go to Odebrecht, the Brazilian builder that’s embroiled in... Continue Reading →
March 7, 2018 The P-33 FPSO completes, in December, 20 years of production in the field of Marlim Petrobras has updated the timeline for the Marlim field revitalization project in the Campos Basin and is anticipating the decommissioning of the FPSO P-33. The facility, which has the capacity to produce 50,000 barrels per day of... Continue Reading →
Canadian oil and gas exploration company CGX Energy has appointed a project operations manager for an exploration well on the Corentyne block offshore Guyana. CGX said that drilling engineer Michael P. Stockinger was appointed to the position of project operations manager on the Corentyne block exploration well. Read more
Brazil’s top appeals court on Tuesday denied a request by former President Luiz Inacio Lula da Silva that he not be sent to prison on a corruption conviction before he has exhausted his appeals. Read more
Oil major Chevron Corporation plans to maintain its discipline in spending during 2018 with a budget of $18 billion for the year. Chevron on Tuesday, March 6 hosted its annual security analyst meeting in New York, where executives highlighted the company’s plans to excel in any market environment. Read more
Total SA’s chief executive officer may be one of the few major oil heads who isn’t salivating over the booming Permian Basin shale oil field. “Total today is the most profitable major company without any shale,” Patrick Pouyanne said in an interview Monday on Bloomberg Television. Instead, Pouyanne said his company is focused on five... Continue Reading →
It will be the first system to operate in the area of onerous assignment The P-74 platform ship arrived on Saturday (3/3), at the Búzios field in the Santos Basin pre-salt. The operation is expected to start in the first half of this year. This project has a design similar to the ones already in... Continue Reading →
The National Petroleum Agency closed the list with companies that will participate in the 15th Round of Bids, which will take place on the 29th. There are 17 companies registered for offshore and four for onshore projects. All companies work or have already worked in Brazil. From the list of 17 companies registered to... Continue Reading →
Italian contractor Saipem has ended 2017 with a smaller annual net loss than it ran up in 2016, but new orders were down year on year too. CEO Stefano Cao said: “Despite the persistence of a challenging market context, the results for 2017 confirm the solid operational and managerial performance, underscored on more than one... Continue Reading →
Brazil Energy Insight 