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Halliburton Co posted its fourth-straight quarterly loss on Monday, as the world's second-largest oilfield services provider struggles with a plunge in demand and lower oil prices. Even though oil prices have recouped some of their losses from the historic lows of March and April, fresh lockdowns in some parts of the world due to a... Continue Reading →
(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced its operational update for the three-month period ended September 30, 2020 (“3Q2020”). All figures are expressed in US Dollars.... Continue Reading →
The oil majors’ retreat from frontier plays limits future drillship demand with deepwater, investment looks limited to Brazil and Guyana, writes Gregory Brown, Maritime Strategies International. The future of offshore deepwater investment is under the microscope. In a world where oil demand may have peaked and Opec and its allies have at least 7 Mn... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the pricing of an offering of additional notes of its 5.600% Global Notes due 2031 (CUSIP No. 71647NBH1/ ISIN No. US71647NBH17) (the “Notes”) to be issued by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”). The Notes will be unsecured obligations of PGF and will be... Continue Reading →
A strange thing happened last Wednesday: Chevron’s market cap briefly exceeded Exxon’s cap, at $142 billion versus $141.6 billion. It was particularly remarkable given that Exxon’s market cap was just under $300 billion at the start of the year. Now, one analyst thinks it is time for drastic action. Paul Sankey of Sankey Research argued in a note last week... Continue Reading →
An analysis by Norwegian energy intelligence firm Rystad Energy shows that Chinese yards will outcompete Asian rivals on costs in an expected rebound in offshore oil and gas spending from 2021. Offshore investments are expected to rebound from 2021 and oil and gas operators will be looking for yards to build new facilities, with 40... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary, Petrobras Global Finance B.V. (“PGF”), has commenced (i) an offering of additional notes of its 5.600% Global Notes due 2031 (CUSIP No. 71647NBH1/ ISIN No. US71647NBH17) (the “New Notes”), subject to market and other conditions (the “New Notes Offering”), and (ii) cash tender... Continue Reading →
The state-affiliated Japan Bank for International Co-operation (JBIC) has agreed to loan $352mn to a Japanese consortium developing a floating production, storage and offloading (FPSO) unit, which will be chartered to Brazil's state-controlled Petrobras for use at the Marlim oil field in the Campos basin offshore Brazil. The loan will be co-financed by private banks... Continue Reading →
(Bloomberg) - Petroleos Mexicanos returned to capital markets Thursday for its first debt sale since January as the embattled oil producer seeks to tap improved demand from investors. Pemex sold $1.5 billion in five-year bonds with a 6.95% yield, up from the $1 billion originally offered with a guidance price in the mid-to-high 7% range.... Continue Reading →
(Reuters) - Brazil has had a boom in oil and gas auctions since 2017, before the pandemic postponed new bids, but the first wells drilled by the winners of these disputes have disappointed, which sparks alerts for the government in relation to the next rounds, Wood Mackenzie analysts told Reuters. The initial results considered "disappointing"... Continue Reading →
