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U.S. engineering firm McDermott has entered into an agreement with lenders under which the company will have access to up to $1.7 billion of additional financing, including a letter of credit capacity. McDermott said on Monday that the company would have immediate access to $650 million of financing comprised of $550 million under a term... Continue Reading →
Halliburton Co reported a bigger-than-expected 10% drop in quarterly revenue on Monday, as the oilfield services provider battled lower demand from shale oil producers in North America, its biggest market. Revenue from North America, which accounts for more than half of the company’s total, fell 21% in the third quarter, primarily due to lower pressure... Continue Reading →
October 18, 2019 Petróleo Brasileiro S.A. – Petrobras informs that, within its ongoing process of contingencies assessment, it will provision R$ 3.2 billion as a result of: (i) litigation involving the company Sete Brasil, (ii) environmental process in the state of Paraná; and (iii) disputes on special participation and royalties involving the National Agency of... Continue Reading →
Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America. The international business has been a bright spot for the world's largest oilfield services provider since last year... Continue Reading →
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, 2019 (“3Q2019”). All figures are expressed in US Dollars and... Continue Reading →
October 18, 2019 Further to the announcement dated September 30, 2019 confirming its participation in the public sale auction of the equity ownership of Serviços de Petróleo Constellation S.A. (“Constellation”) in the lease and operating companies related to five Brazilian FPSOs (“the entities”), SBM Offshore confirms it has been formally designated as the... Continue Reading →
Singapore Keppel Corporation’s Offshore & Marine business division saw its revenue and profit increase in the third quarter of 2019. While the division is famous for its rig building capabilities, the company has so far this year secured one rig order, and 60 percent of contracts in the first nine months arrived from gas and... Continue Reading →
Oilfield services provider Baker Hughes, a GE company, has announced its name change to Baker Hughes Company. The company will be known as Baker Hughes and, on Friday, October 18, 2019, its Class A common stock will begin trading on the New York Stock Exchange under the symbol “BKR”, Baker Hughes said on Thursday. Baker... Continue Reading →
Oct 17, 2019 (Reuters) - Brazil’s auction of oil prospecting rights may reduce the government deficit in 2019 to below 100 billion reais ($24.10 billion), Treasury secretary Mansueto Almeida told GloboNews TV channel on Thursday. According to Mansueto, the Brazilian government expects to receive 48 billion reais from the transfer of rights oil auction. Mansueto... Continue Reading →
Norwegian seismic services provider Petroleum Geo-Services (PGS) returned to profit in the third quarter of the year from a loss in the corresponding quarter of 2018 as its revenues received a boost amid improving market environment. In its report for the third quarter of 2019, PGS on Thursday reported total revenues of $276.5 million, compared to... Continue Reading →
Brazil Energy Insight 