Halliburton Co reported a smaller quarterly loss from a year earlier, when the oilfield service provider recorded $2.77 billion in charges. Net loss attributable to Halliburton narrowed to $32 million, or 4 cents per share, in the first quarter ended March 31, from $2.41 billion, or $2.81 per share, a year earlier. The year-ago quarter... Continue Reading →
ANP GIVES GREEN LIGHT FOR DEVELOPMENT PLAN OF THE SAPINHOÁ SHARED RESERVOIR
April 23, 2017 The Board of the National Agency for Petroleum, Natural Gas and Biofuels (ANP) decided to approve, during a collegiate meeting, the Integrated Development Plan (PD) of the Sapinhoá Shared Reservoir. In its decision, the agency has determined that Petrobras apply "the best practices of the oil industry in its operations" in the... Continue Reading →
Brazil may boost corruption fine against Odebrecht
The Brazilian government may increase the corruption fine that engineering conglomerate Odebrecht agreed to pay in a multi-billion dollar leniency deal signed last year, newspaper Folha de S.Paulo reported on Sunday. Odebrecht, once Latin America's biggest builder, struck a deal with Brazil, the United States and Switzerland in December designed to allow the company... Continue Reading →
Petrobras – Clarification on News: New bidding rules for the production sharing regime
Rio de Janeiro, April 20, 2017 – Petróleo Brasileiro S.A. – Petrobras responds to Official Letter no. 166/2017/CVM/SEP/GEA-1 which requests clarifications, as follows: Official Letter no. 166/2017/CVM/SEP/GEA-1 “Dear Sir, We refer to the news article published on 04.14.2017 in the newspaper Folha de S. Paulo, under the headline “Petrobras pode desistir de áreas do pré-sal... Continue Reading →
Bassoe: Forget rig oversupply, the offshore rig market presents opportunity
Certain trends which signify a rig market recovery have emerged insidiously over the past four months. Now they’re obvious enough to warrant attention. Rig contracting activity is up, utilization is up, asset values are up, and the oil price is relatively stable. Some “stranded” rigs are being acquired by new buyers, and purchase offers for... Continue Reading →
Schlumberger boosts 1Q revenues as profit falls
Schlumberger, the world’s largest oilfield services provider, increased its revenues by almost 6 pct during the first quarter of 2017 while its profit fell, compared to the year-before period. In the quarterly report on Friday, the company posted a $6.89 billion in revenues for the first quarter 2017, an increase compared to $6.52 billion in the... Continue Reading →
Saipem 1Q revenue, profit down
Italian oilfield services contractor Saipem recorded a drop in revenue and profit in the first quarter of 2017, however it said the drop was in line with expectations. Revenue fell to 2.26 million euros, from 2.84 million a year ago. Net profit was 47 million euros, a decrease from 61 million in the first quarter... Continue Reading →
Petrobras to raise Brazil diesel, gasoline prices on Friday
Brazil's state-controlled oil company Petroleo Brasileiro SA said on Thursday it would raise refinery prices for diesel by 4.3 percent and for gasoline by 2.2 percent on average, starting on Friday. Petrobras, as the company is known, said in a securities filing that a rise in global prices had more than offset a stronger local... Continue Reading →
Former Brazil minister Palocci offers details of bribery scheme
Former Brazilian Finance Minister Antonio Palocci told a court hearing on Thursday that he could provide details of a political kickback scheme, which could threaten former President Luiz Inácio Lula da Silva's chances of running in the 2018 election. In the video of the hearing released on Thursday, Palocci made the offer directly to Judge... Continue Reading →
BP Gulf Oil Spill Damage Valued at $17.2 Billion in New Study
BP Plc’s 2010 Gulf of Mexico oil spill caused damage to beaches, animals, fish and coral that the public values at $17.2 billion, according to a financial accounting released on the seventh anniversary of the disaster. The tally, published Thursday in the journal Science, is based on a survey of thousands of Americans that asked what they’d... Continue Reading →
Brazil Energy Insight 