Oil majors Royal Dutch Shell RDSA.L and Exxon Mobil (XOM.N) won blocks in Brazil’s coveted pre-salt oil region in an auction on Friday. Shell was part of consortia that won two of the four blocks on offer in the first part of an eight block auction. Exxon, in a consortium with Norway’s Statoil (STL.OL) and... Continue Reading →
Consortia with Shell, Total win pre-salt block in Brazil
RIO DE JANEIRO (Reuters) - A consortia led by Royal Dutch Shell Plc (RDSa.L) and including French major Total SA (TOTF.PA) won the right to explore Brazil’s pre-salt oil block, named Sul de Gato do Mato, during an auction on Friday. The companies pledged 11.53 percent of the oil after costs to the government, oil... Continue Reading →
Delay in Brazil’s pre-salt oil auction overturned
A suspension of the biggest oilfield auction in Brazil for years was overturned on Friday two hours after bidding was to start, as the government successfully appealed a federal judge’s ruling that stopped the sale of blocks in the country’s coveted pre-salt region. Read more
Exxon, Chevron third-quarter profits jump on rising commodity prices
Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), two of the world’s largest oil producers, said on Friday their quarterly profits each jumped about 50 percent, helped by rising commodity prices and lower costs. Read more
Total’s Profit Jumps as Big Oil Shows Rebound From Deep Slump
Total SA posted the highest earnings from pumping oil and gas in more than two years, illustrating the improving fortunes of an industry that’s endured the deepest downturn in a generation. Read more
Brazil confident of oil auction, appeals injunction
Brazil’s government has appealed an injunction suspending a pre-salt oil auction and expects the bidding to go ahead as planned on Friday, the Mining and Energy minister Fernando Coelho Filho told Reuters. Read more
Big Oil executives jet to Rio for deepwater oil sale
Brazil will auction eight blocks in its coveted deepwater oil region on Friday, a prospect that has attracted top executives from the world’s biggest oil companies to Rio de Janeiro for the bidding round. The oil companies and Brazilian officials expect to see aggressive bidding for the more than 12 billion barrels of estimated oil... Continue Reading →
Statoil loss widens in 3Q
Norwegian oil major Statoil has booked a bigger loss for the third quarter 2017 compared to the one posted a year ago while its revenues and production increased during the period. Statoil on Thursday reported adjusted earnings of $2.3 billion in the third quarter, up from $0.6 billion in the same period in 2016. After... Continue Reading →
Ensco books quarterly loss as revenues slip on fewer rig days
Offshore drilling contractor Ensco booked a loss in the third quarter of this year, after reporting a profit in the same period last year. The driller’s revenues were impacted by fewer rig days and lower dayrates. The UK-based driller, which recently completed its acquisition of Atwood Oceanics, on Wednesday reported a loss of $25.4 million for... Continue Reading →
Upstream firms expect digital investments to bring faster first oil
What do upstream oil and gas companies expect to gain from investing in digital initiatives? They expect faster first oil time, and better decision making, a research conducted by Accenture and Microsoft on 300 upstream leaders in 18 countries has shown. Read more
Brazil Energy Insight 