Total’s Board of Directors met on October 25, 2018, to close the Group’s third quarter 2018 accounts. Commenting on the results, Chairman and CEO Patrick Pouyanné said: “Total’s third quarter adjusted net income increased by 48% from last year to $4.0 billion, while oil prices increased by 44% to 75 $/b supported by supply tensions... Continue Reading →
Petrobras Reduction of Relevant Shareholding Interest
Rio de Janeiro, October 25, 2018 – Petróleo Brasileiro S.A. – Petrobras, in compliance with article 12 of CVM Instruction Nº358 of January 3, 2002 and Circular Letter CVM/SEP/Nº002/2018, informs that it was notified by Caixa de Previdência dos Funcionários do Banco do Brasil (“PREVI”) that PREVI sold preferred shares issued by Petrobras, so that... Continue Reading →
Equinor third quarter 2018 and first nine months results
26/10/2018 Equinor reports adjusted earnings of USD 4.8 billion and USD 2.0 billion after tax in the third quarter of 2018. IFRS net operating income was USD 4.6 billion and the IFRS net income was USD 1.7 billion. The third quarter was characterised by: • Strong results and cash flow from operations. Net debt ratio... Continue Reading →
Brazil’s presidential front-runner would keep country in Paris Agreement
RIO DE JANEIRO (Reuters) - Brazil’s leading presidential candidate, right-wing Jair Bolsonaro, said on Thursday that he would not pull his country out of the Paris Agreement on climate change, reversing his earlier statements that he would exit the accord. About 60 percent of the Amazon rainforest lies within Brazil’s borders, and scientists have said... Continue Reading →
Oceaneering Posts Q3 Loss
Oceaneering International has reported a net loss of $66.0 million, or $(0.67) per share, on revenue of $519 million for the three months ended September 30, 2018. Adjusted net loss was $13.9 million, or $(0.14) per share, excluding the impact of $56.5 million of certain tax adjustments, the after-tax effects of a $9.3 million gain realized... Continue Reading →
TechnipFMC posts higher profit despite lower revenues
Oilfield services provider TechnipFMC has recorded an increase in its third quarter profit despite lower revenues as its orders exceeded revenues for the fourth consecutive quarter. In its 3Q 2018 report on Wednesday TechnipFMC said that total company revenue was $3.1 billion, a 24.1% decrease when compared to the last year’s quarter and revenues of $4.1 billion. The company’s... Continue Reading →
Aker Solutions Sees Profit and Orders Increase
Aker Solutions has strengthened earnings in the third quarter of 2018 as orders more than doubled from a year earlier amid increasing signs of a market recovery. Aker Solutions has seen its profit go up in the third quarter 2018 at NOK 155 million, versus net income of NOK 124 million same time last year. Orders in... Continue Reading →
Shell asks Ibama license to drill block in Santos pre-salt
Shell requested IBAMA to operate the offshore drilling activity in the Alto Cabo Frio Oeste block in the pre-salt of the Santos Basin. The area was acquired by the company in the 3rd Round of the Pre-salt in October last year. The Anglo-Dutch consortium (55%), China's CNOOC (20%) and QPI (25%) from Qatar won the... Continue Reading →
After converting Bolsonaro, free-market guru must convince Brazil
After making his fortune with contrarian bets in financial markets, Brazilian economist and investor Paulo Guedes is making his boldest wager yet. He says presidential front-runner Jair Bolsonaro - who spent decades as a congressman fighting to raise public-sector pay and railing against privatizations - will usher in a golden age of orthodox, market-friendly policy... Continue Reading →
Shell adds new, deep-water production in Brazil
Oct 24, 2018 New, deep-water production is underway today at Lula Extreme South in the Brazilian Santos Basin. Royal Dutch Shell plc, through its subsidiary Shell Brasil Petróleo Ltda. (Shell) and consortium partners, announces that the FPSO P-69 is now producing. Read more
Brazil Energy Insight 