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Pioneira de Libra FPSO: integration work 80% complete By Fabio Palmigiani in Rio de Janeiro 27 October 2016 19:27 GMT Brazil’s Petrobras has unveiled plans to install four large floating production, storage and offloading vessels at the giant Libra field in the Santos basin pre-salt province by 2023, as it looks to speed up development... Continue Reading →
A long-anticipated plea bargain deal with the construction firm at the center of Brazil's largest graft scheme is at least "months" away and could fall apart due to interference by fearful politicians, a top prosecutor told Reuters. Construction firm Odebrecht SA [ODBES.UL], the largest in Latin America, is accused of being the main corporate driver... Continue Reading →
Months after General Electric Co. considered a potential deal for Baker Hughes Inc. assets, the pair are in talks to form unspecified “partnerships” as oilfield equipment makers and service providers grapple with an extended rout in energy prices. The discussions are ongoing but GE isn’t weighing “an outright purchase,” spokeswoman Deirdre Latour said Thursday in a statement. GE... Continue Reading →
Exxon Mobil Corp. warned it may be facing the biggest reserves revision in its history as production sank to a seven-year low and profit slid amid a prolonged slump in energy markets. About 3.6 billion barrels of reserves in the Canadian oil sands and the equivalent of another 1 billion barrels of oil in other... Continue Reading →
Chevron Corp. posted its first profit in a year as a recovery in energy prices halted a string of writedowns that have depressed the oil explorer’s results since late 2015. The company’s third-quarter per-share profit of 68 cents exceeded the expectations of all 21 analysts in a Bloomberg survey. Even as Chevron’s U.S. wells lost... Continue Reading →
Gas target: Statoil's Brazil country manager Paal Eitrheim By Gareth Chetwynd in Rio de Janeiro 26 October 2016 23:19 GMT Statoil believes its two pre-salt projects will be capable of supplying between 10% and 15% of the natural gas to a growing Brazilian market in the future. Statoil's acquisition of operating stakes on Carcara in... Continue Reading →
Impaired: NOV Q3 results stuck in red Luke Johnson/Upstream 27 October 2016 04:16 GMT Eoin O'Cinneide 27 October 2016 07:58 GMT Huge impairments and a halving in revenues sent US services outfit National Oilwell Varco (NOV) to a large loss in the third quarter. Sales were unsurprisingly down in all market segments, but impairments close... Continue Reading →
Rise in profits: Technip chief executive Thierry Pilenko Anthony Guegel/Upstream Josh Lewis 27 October 2016 07:41 GMT Rise in net income comes despite a drop in revenue French engineering company Technip booked a 12.4% rise in third quarter net income while also increasing its full-year revenue guidance for its subsea division. Technip’s net income for... Continue Reading →
ANP director Chambriard: co-operation 'fundamental' to agency Reuters/Scanpix By Gareth Chetwynd in Rio de Janeiro 26 October 2016 20:26 GMT Brazil's National Petroleum Agency (ANP) has signed a memorandum of understanding with the UK Oil & Gas Authority aimed at promoting greater co-operation on regulatory questions. The MoU was signed during Rio Oil & Gas... Continue Reading →
Business friendly: head of Brazil's Investment Partnership Programme,"rio oil" Wellington Moreira Franco Agencia Ponto/IBP By Kathrine Schmidt in Rio de Janeiro 26 October 2016 20:39 GMT A key official in the administration of Brazilian President Michel Temer took the stage at Rio Oil & Gas to pledge support for oil and gas investment in Brazil... Continue Reading →
Brazil Energy Insight 