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Rio de Janeiro, February 1, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that it received today, Official Letter no. 148/2018-GEA, which requests the following clarification: Official Letter no. 148/2018- SAE “Dear Gentlemen, A news article published by the Valor Econômico newspaper, on 2/1/2018, under the headline “Petrobras Leverage", states, among other information, that if... Continue Reading →
Exxon Mobil Corp. and Chevron Corp., failing to capitalize on a more than 50 percent rise in oil prices since June, spurred the wrath of investors by missing fourth-quarter estimates on both earnings and output. Exxon took the worst hit, plunging 5.8 percent to $83.86 in New York trading at 1:00 p.m., making them the second-worst performer... Continue Reading →
Chevron Corp. had its best year of oil and natural gas discoveries in more than half a decade as rebounding energy prices lifted drillers out of the worst slump in a generation. Chevron found enough untapped fields to replace 155 percent of the crude and gas it pumped last year, the highest reserves replacement since 2011.... Continue Reading →
A new and important contract for the Omni Air Taxi, which has just won a contract from France's Total for passenger transportation and 24-hour aeromedical coverage for Campo de Lapa, in the Santos Basin. Two H225 aircraft will be used, with a capacity to carry up to 19 passengers. The agreement between the two... Continue Reading →
Feb. 1/2018 Petrobras, operator of the Libra Consortium, started the competitive process to contract the charter of the second definitive production system of Campo de Mero. Campo de Mero is located in the northwest area of the Libra block, about 180 km off the coast of Rio de Janeiro, in the pre-salt of the... Continue Reading →
U.S. oil major ConocoPhillips returned to quarterly profit helped by higher oil prices and increased its dividend and share buyback. ConocoPhillips on Thursday reported fourth-quarter 2017 earnings of $1.6 billion, compared with a fourth-quarter 2016 net loss of $35 million. Excluding special items, fourth-quarter 2017 adjusted earnings were $0.5 billion, compared with a fourth-quarter 2016... Continue Reading →
Mexico has awarded 19 offshore blocks to 11 companies at its bidding round for deepwater acreage held on Wednesday. The country will get $525 million from the winning offers submitted for acreage in Perdido Belt, Cordilleras Mexicanas and Salina Basin. Read more
Rio de Janeiro, February 1, 2018 – Petróleo Brasileiro S.A. - Petrobras announces that it has closed today a US$ 2 billion issuance of 2029 notes in the international capital markets. The notes were issued by Petrobras’ wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) and constitute general senior unsecured and unsubordinated obligations of PGF that... Continue Reading →
Cnooc Ltd. plans to raise capital spending to the highest since 2014 and revised upward its oil and gas output targets as China’s biggest offshore producer recovers from crude’s crash. The Beijing-based explorer sees capital expenditures at 70 billion to 80 billion yuan ($11.1 billion to $12.7 billion) for 2018, it said in a statement to the Hong... Continue Reading →
Goldman Sachs Group Inc. hiked its short-term crude oil price forecast by as much as 33 percent, saying the market is now likely balanced. The bank now estimates Brent will reach $75 a barrel over the next three months and will climb to $82.50 within six months, analysts including Damien Courvalin wrote in an emailed report.... Continue Reading →
Brazil Energy Insight 