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Oil exports by Brazilian state-run Petrobras should fall slightly in the first quarter, thanks to scheduled maintenance stoppages at offshore platforms, executives said on Thursday. On a conference call to discuss the firm's fourth-quarter results, the executives added that January production was little changed from December. On Wednesday evening, Petroleo Brasileiro SA, as the firm... Continue Reading →
Singaporean rig builder Sembcorp Marine Ltd said on Friday a former consultant to the company had been convicted by a federal court in Brazil for corruption, money laundering and participation in a criminal organization. The conviction of Guilherme Esteves de Jesus is part of one of the largest corporate corruption probes in history, Brazil’s wide-ranging... Continue Reading →
Feb 20, 2020 PetroRio, the largest independent oil and gas company in the country, recorded record financial results in 2019, a year marked by important acquisitions, with a strong positive impact on the company's production and reserves. For the year, net income reached R$ 688.4 million, an increase of 236% compared to 2018. Net revenue,... Continue Reading →
February 20, 2020 Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, at a meeting held yesterday, approved dividends to shareholders, in the amount of R$ 1.7 billion to common shares (R$ 0.233649 per share) and R$ 2.5 million to preferred shares (R$0.000449 per share), based on the 2019 annual results. The adjusted... Continue Reading →
19/02/2020 Highlights of the 2019 result: • Adjusted EBITDA was US$ 32.7billion, an increase of 3.8% in relation to 2018, due to lower production costs and lower contingencies. • Net income reached US$ 10.2 billion, mainly reflecting gains with asset sales. • The adjusted net debt / LTM Adjusted EBITDA ratio increased to 2.41x, applying... Continue Reading →
Feb 20, 2020 MESSAGE FROM THE CEO THE FIRST YEAR OF THE IMPLEMENTATION OF A NEW STRATEGY I am pleased to share the results of a year of hard work, with the implementation of a new strategy for Petrobras, based on a transformational agenda supported by five pillars: maximization of the return on capital employed,... Continue Reading →
The market for floating production, storage and offloading units (FPSO) is heating up. Séverine Baudic, SBM Offshore’s Managing Director for Floating Production Solutions, weighs in on the strategic initiatives and technological innovations helping the company to secure contracts for some of the world’s most complex deepwater projects. When it comes to reducing lead times and... Continue Reading →
Oil companies produced 3.17 million barrels per day (bpd) on average in Brazil in January, a volume 20.4% larger than seen in the same month a year earlier and an output record for the country, oil regulator ANP said on Wednesday. Natural gas production increased 22% over January 2019 to 138.7 million cubic meters per... Continue Reading →
Feb 19, 2020 Total started last Tuesday (18) the environmental licensing in Ibama of five wells, two exploratory and three for evaluation, in the area of exploratory block C-M-541, in the Campos Basin pre-salt. The company signed the concession contract for the area, where it has a partnership with Petronas and QPI, last Friday with... Continue Reading →
February 19, 2019 According to an executive of the JV with Petrobras, goal is to increase the recovery factor of the largest field in the country Petrobras should drill at least ten new wells in the Lula field, in the Santos Basin, said Galp's Upstream Operations director, Thore E. Kristiansen, during a conference with analysts... Continue Reading →
