Rio de Janeiro, July 26, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it signed today a leniency agreement with the Ministry of Transparency and the Office of the Comptroller General (CGU), the Attorney-General of the Union (AGU), SBM Offshore N.V. and SBM Holding Inc S.A. The agreement provides for the payment of R$... Continue Reading →

The oil and gas industry in Brazil, which is emerging from an economic crisis and recession caused in part by low oil prices and  reduced investment by Petrobras, is showing signs of recovery. Companies from across the world are settling in the country, eyeing opportunities, and some analysis indicates a hiring pickup is around the... Continue Reading →

UK driller Ensco saw its net loss for the second quarter of the year more than triple as its drilling expenses spiked due to costs associated with 11 Atwood rigs.  According to the driller’s report on Wednesday, net loss attributable to Ensco was $151 million compared to a $45.5 million loss in the same period of... Continue Reading →

Seismic services player Polarcus managed to cut its loss in the second quarter 2018 when compared to the same period last year. The Oslo-listed geophysical company said on Thursday that it recorded a net loss of $8.8 million for this year’s second quarter as opposed to a $33.7 million loss in the same period of... Continue Reading →

Brazil’s five-party centrist coalition has united behind business-friendly presidential candidate Geraldo Alckmin, boosting the chances of a reformist winning the October election. Read more

07/25/2018 Preventive measures have already been taken to maintain supply of natural gas during Mexilhão platform shutdown Petrobras is increasing its gas flow capacity in the pipeline system of Route 1 of the pre-salt to meet the future production of the Santos Basin and improve the natural gas supply conditions for the Brazilian market. To... Continue Reading →

Repsol's net income was 1.546 billion euros between January and June 2018, representing an increase of 46% compared with the same period of the previous year, and the highest profit recorded for this period in the last decade. Adjusted net income, which specifically measures the performace of the company’s businesses, increased by 12% to 1.132... Continue Reading →

Italian oilfield services player Saipem has reported loss in the first half of 2018 of €323 million ($377.5 million), on revenues of €3.8 billion ($4.4 billion). This result compares to net loss of €110 million ($128.6 million) on revenues of €4.6 billion ($5.4 billion) for the first six months of 2017. For the second quarter... Continue Reading →

Oslo-listed Subsea 7 has seen profit cut by close to 50 percent in the quarter ended June 30, 2018 on fewer large projects, lower margins and lower activity levels in some of its business units. The subsea engineering and construction specialist posted quarterly profit of $74 million, or $24 cents per diluted share, on revenue... Continue Reading →

Royal Dutch Shell Plc finally gave investors the share buybacks they’ve been demanding, even as profit fell short of expectations despite resurgent crude prices. The Anglo-Dutch energy producer said Thursday that it is starting a $25 billion share-repurchase program, initially buying up $2 billion of stock over three months. That should soothe investors who have grown... Continue Reading →