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(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today reported second quarter 2022 results. President and Chief Executive Officer Anton Dibowitz said, “I would like to thank the Valaris team for their continued focus on delivering the safe, reliable and efficient operations that our customers have come to expect from us, in particular the... Continue Reading →
(Reuters) - BP's (BP.L) second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins and trading prompted it to boost its dividend and spending on new oil and gas production. The strong performance caps a blowout quarter for the top Western oil and gas companies on the back of soaring energy... Continue Reading →
Petrobras' board is working on the possibility of bringing forward the start of production on the P-71 platform to this year. The information was revealed by the company's production development director, João Henrique Rittershaussen, during a conference call with investors. As a reminder, the P-71 will be installed in the Itapu field and is part... Continue Reading →
Dril-Quip achieved revenue of $94 million in second-quarter 2022, up $10.8 million from the first quarter, and driven by improved subsea equipment and downhole products and services results. President and CEO Jeff Bird said the figures reflect the improving offshore drilling market and a focus on controlling costs while improving margins Downhole Tools experienced broad growth across all geographies,... Continue Reading →
(Reuters) - Petrobras' Brazil-listed shares jumped more than 6% on Friday, approaching a 12-year high, after the state-run oil company smashed quarterly profit estimates and announced a record dividend payment. The company announced on Thursday afternoon an 87.8 billion-real ($17 billion) dividend payout, the largest ever, sending the firm's shares up some 3.3% in intraday... Continue Reading →
(Reuters) - Petroleos Mexicanos (Pemex) is ready to invest billions of dollars in a disputed major Gulf of Mexico oil field once its U.S. partner Talos Energy accepts Pemex will run the project, the chief executive of the Mexican state oil company said. The 850-million-barrel Zama field has become a bone of contention under President... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, informs that its Board of Directors, at a meeting held today and in line with the continuous improvement of its governance, approved the Guideline for Price Formation in the Domestic Market (Guideline). The Guideline reiterates the Executive Board's competence in executing pricing policies, preserving and prioritizing the Company's economic result,... Continue Reading →
(Reuters) Italy's Saipem on Wednesday confirmed its 2022 guidance and the targets in its business plan after the energy services group reported a first-half adjusted core profit of 321 million euros ($325 million). Investors this month agreed to fund only 1.4 billion euros of a life-saving 2 billion euro cash call, leaving the underwriting banks... Continue Reading →
Mexican national oil and gas company Pemex has taken over the ownership and operation of the FPSO operating on the second largest offshore oil complex in Mexico from Norway’s FPSO operator BW Offshore. BW Offshore revealed on Sunday that Pemex has assumed the ownership and operation of the FPSO Yúum K’ak’náab – known as El Señor del Mar (The Lord of the Sea) – with effect... Continue Reading →
Offshore drilling contractor Valaris has revealed that one of its drillships has started its new assignment offshore Brazil with the country’s state-owned giant, Petrobras. Back in October 2021, Valaris won a deal for the stacked drillship Valaris DS-4 with Petrobras for operations offshore Brazil. The contract was for a minimum term of 548 days. At the time, the Valaris DS-4 rig... Continue Reading →
Brazil Energy Insight 