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zoomAnadarko's Marco Polo platform (Image source: Anadarko) Anadarko has reported a net loss $452 million, an improvement when compared to the $1.52 billion net loss in the same quarter of 2015. Revenues for the quarter rose to $2.4 billion, an increase from 4Q 2015 when it reported revenues of around $2 billion. Fourth-quarter 2016 sales... Continue Reading →
January, 2017 Petrobrás has divested itself of valuable areas in the pre-salt, such as stakes in the fields sold to Statoil (Carcará) and Total (Iara and Lapa), but still maintains great plans for the pre salt region, with 15 new platforms for the Santos Basin. The estimate is part of Petrobras' 2017-2021 Business and... Continue Reading →
U.S. East Coast refiners are on a Brazilian crude buying spree, market sources say, displacing West African cargoes as producers such as Royal Dutch Shell and Norway's Statoil sell rising output from fields off Brazil's coast. The uptick in Brazilian imports into the region comes as the only Latin America producer to increase output in... Continue Reading →
Royal Dutch Shell Plc’s $3.8 billion sale of North Sea oil and gas fields creates a model for further transactions in a region where the question of who pays to remove decades-old offshore platforms has been an obstacle for other deals. Shell’s agreement with Chrysaor Holdings Ltd. included the condition that Europe’s largest oil company... Continue Reading →
Crude prices may have stabilized, but it’s still not a great time to be Big Oil. Investors eliminated about $53 billion in market value for producers over three days as the twin titans of U.S. oil posted their worst annual financial outcomes in decades. With Royal Dutch Shell Plc, Total SA and BP Plc due to... Continue Reading →
Exxon Mobil Corp.’s biggest profit miss in at least a decade is the starkest sign yet that major oil explorers remain mired in the deepest market slump in a generation. After resisting the industry trend of discounting the value of oil and natural gas fields that turned into money-losers amid the 2 1/2-year market slump,... Continue Reading →
Brazilian regulator ANP plans to present a list of subsalt offshore exploration areas by early February for the government to consider auctioning at the end of the year as part of what the agency's new head called a historic opening of the nation's oil sector. Décio Oddone, who took the job this month, said in... Continue Reading →
January 31, 2017 - Petróleo Brasileiro SA - Petrobras, in continuation of the relevant fact disclosed on 12/28/2016, informs that it was served on the decision of the 2nd Federal Court of Sergipe, which granted an injunction, in a public sale of "PetroquímicaSuape" and Companhia Integrada Têxtil de Pernambuco ("Citepe"). Petrobras is taking appropriate legal... Continue Reading →
JANUARY 30, 2017 — Toisa Limited and 23 of its affiliated vessel-owning companies announced today that it has filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. Reuters reports that Toisa, owned by Greek shipping magnate Gregory Callimanopulos, has... Continue Reading →
Brazilian construction firm Odebrecht, under investigation for paying hundreds of millions in bribes across Latin America, withdrew its bid to build a bridge over the Panama canal, the president of the Central American nation said on Monday. Last week, Panama prosecutors said they had charged 17 people, including several businessmen and former government officials, with... Continue Reading →
Brazil Energy Insight 