An aggressive turnaround helped Petroleo Brasileiro SA post a record operating profit in the first quarter and move ahead of schedule in reducing a debt burden that is the largest of any major oil firm. Petrobras, as the state-controlled company is known, reported net income of 4.449 billion reais ($1.42 billion), well above a consensus... Continue Reading →
Total’s plans for Brazil’s new oil frontier snagged on Amazon reef – Update
OIAPOQUE, Brazil - Deep beneath the waters of the Atlantic off Brazil's most northern coast, French major Total SA (TOTF.PA) is hunting for what it hopes will be Latin America's next big oil discovery. Metal drill bits, pipes and containers filled with equipment sit in the tropical port of Belém, near the mouth of the... Continue Reading →
Petrobras 1 Quarter Financial Report and Statements
Rio de Janeiro - May 11, 2017 - FIRST QUARTER OF 2017 RESULTS - Derived from consolidated interim financial information reviewed by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Please see attached PBR 1Q 2017 Fin.report PBR 1Q 2017 Fin. Statements PBR 1Q Fin. Report USD PBR 1Q Fin Statements... Continue Reading →
Waypoint Leasing Delivers S-92 and S-76C++ Helicopters to Omni in Brazil
May 11, 2017 05:07 PM Eastern Daylight Time LIMERICK, Ireland--(BUSINESS WIRE)--Waypoint Leasing (Ireland) Limited (“Waypoint”), the largest independent global helicopter leasing company, today announced that it has delivered a Sikorsky S-92 and S-76C++ to Omni Taxi Aero (OTA) to be used in support of charter contracts within the offshore oil and gas sector in Brazil.... Continue Reading →
Petrobras has a profit of R $ 4.45 billion in the first quarter
05/11/2017 Updated at 18h38 Despite the fall in sales and revenue, Petrobras recorded a profit of R $ 4,449 billion in the first quarter of 2017, reversing a loss of R $ 1,246 billion in the same period of the previous year. In the balance sheet released on Thursday (11), the company says its... Continue Reading →
Lula graft testimony fails to lift his Brazil presidential hopes
Former Brazilian President Luiz Inacio Lula da Silva's combative testimony before a federal judge this week did little to dismantle the graft case against him and improve his chances of securing a new term in office. Lula, a founder of the leftist Workers Party (PT) that controlled Brazil's presidency from 2003 until last year, can... Continue Reading →
Total oil says Brazil drilling poses no risk to rare Amazon reef
RIO DE JANEIRO (Thomson Reuters Foundation) - A French oil firm on Thursday rejected concerns that exploration off Brazil could damage a unique coral reef at the mouth of the Amazon river as it awaits final approval to start drilling. "Drilling activity will not impact the reef system," a spokeswoman for Total told the Thomson... Continue Reading →
Saipem lands Liza SURF award with Exxon
Italian company Saipem has been awarded a new EPCI contract for the SURF package of the proposed Liza project operated by Esso Exploration and Production Guyana Limited, an affiliate of ExxonMobil. Located approximately 120 miles offshore Guyana at a water depth of 1,800 meters, the Liza field is a subsea development with a recoverable resource... Continue Reading →
Oil price recovery brings Eni back to profit
Italian oil company Eni returned to profit during the first quarter of 2017, versus a loss in the year-before quarter, owing to the upward trend in crude oil prices. The oil company on Wednesday posted a net profit of €965 million, versus a loss of €383 million. According to Eni, this performance was driven by a recovery... Continue Reading →
SBM Offshore still in talks to resolve bribery case in Brazil
SBM Offshore has yet to resolve its status in Brazil following an alleged corruption scandal. To remind, the world’s largest FPSO vessel provider had in July 2016 signed a settlement agreement with the Brazilian authorities, and Petrobras, closing corruption probe over improper payments to Petrobras’ executives. SBM Offshore has been accused of bribing its way... Continue Reading →
Brazil Energy Insight 