Brazilian Supreme Court justice Gilmar Mendes ordered the release from jail of former mining and oil magnate Eike Batista, once the country's richest man, ahead of his trial on corruption charges, the court said on Friday. Batista has been jailed since Jan. 30 when he voluntarily returned to Rio from New York after four days... Continue Reading →

The board of Mexico's state-owned oil company Pemex on Thursday approved its second-ever deep water joint venture covering the Nobilis-Maximino block in the country's territorial Gulf waters. Pemex, which is looking for a partner to develop the block, estimates it to hold reserves of some 500 million barrels of oil equivalent (boe) based on data... Continue Reading →

By Ernest Scheyder | HOUSTON Rising crude prices helped Chevron Corp (CVX.N) and Exxon Mobil Corp (XOM.N) easily beat analysts' quarterly profit expectations on Friday, setting an upbeat tone as the two companies press ahead with shale oil and liquefied natural gas expansions. While cost cuts and asset sales provided a boost to both companies,... Continue Reading →

Exxon Mobil Corp.’s profit more than doubled in the first quarter of the year as the oil and gas giant signaled a strengthening in business amid a reprieve in commodity price depression. The results from Exxon, the largest U.S. oil company, indicate this could be the best quarter for energy companies in some time, with the... Continue Reading →

Houston-based oil and gas services company Helix Energy Solutions managed to narrow its net loss in the first quarter of 2017 and boost revenues compared to the same period in 2016. The oil services company on Sunday reported a net loss of $16.4 million for the first quarter of 2017 compared to a net loss... Continue Reading →

UK drilling contractor Ensco went from black to red during the first quarter of 2017 as its revenues dropped by 42 percent due to decline in rig utilization and dayrates.  The driller on Wednesday posted a net loss of $25.7 million, compared to $175.3 million profit in the year-before period. Read more

Subsea engineering, construction and services company Subsea 7 increased its revenues during the first quarter 2017 by 20 percent while its net profit remained in line with the prior-year period.  The subsea company on Thursday posted a profit of $146 million for the first quarter 2017, versus a $147 million profit in the corresponding period of... Continue Reading →

Newly-formed oil and gas services firm TechnipFMC reported Thursday a $190.8 million net profit in its first quarter following the merger between the French oilfield services provider Technip and the U.S. company FMC Technologies. Announced last year, the merger between two giants was completed in January. The company reported first quarter 2017 revenues of $3.4 billion, versus $2.4 billion... Continue Reading →

French oil major Total posted a hefty increase in its adjusted net income for the first quarter of 2017, when compared to the first quarter of 2016. Presenting its results on Thursday, Total said its 1Q adjusted net income was $2.6 billion, a 56 percent increase compared to $1.6 billion a year ago. Read more