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The company’s net profit for the quarter was 523 million euros, down 66 percent from 1,5 billion euros in the third quarter of 2018. Adjusted net profit was 776 million euros, a 44 percent fall compared to 1,38 billion euros in the corresponding quarter of last year. Explaining the profit drop, Eni cited lower oil... Continue Reading →
Oct 24, 2019 Karoon will raise AUD 284 million (US $ 194.42 million) to complete financing for the acquisition of the Bauna field, located in block BM-S-40, in the Santos Basin. The operation also aims to support future projects of the company. According to Karoon director Robert Hosking, the measure represents the final stage of... Continue Reading →
Equinor’s (EQNR.OL) third-quarter profit fell by more than expected on Thursday after a significant decline in the volume and price of natural gas sold to Europe, although the Norwegian firm reiterated its forecast for flat 2019 production. Shares in Oslo-listed Equinor were up 2.2% by 0730 GMT after it also confirmed plans to reach Phase... Continue Reading →
CNOOC Ltd (0883.HK), the listed arm of China’s largest offshore oil and gas producer, on Thursday reported a 27.9% jump in capital spending in the third quarter amid Beijing’s push to boost oil and gas exploration and production. Capital expenditure at CNOOC reached 19.53 billion yuan ($2.76 billion) during July-September, up from 15.27 billion yuan... Continue Reading →
Following its recent two oil discoveries, Tullow Oil and its partners in the Orinduik block located offshore Guyana are reviewing multiple prospects on the block and working to approve the budget for the 2020 drilling campaign. Tullow is the operator of the Orinduik block with a 60% Working Interest while Total and Eco Atlantic have... Continue Reading →
The Peregrino C jacket, built by Heerema Fabrication Group for Equinor, has left a fabrication yard in the Netherlands and sailed away to Brazil. Equinor awarded Heerema Fabrication Group the procurement & construction contract for the Peregrino II WHP C Jacket in May 2017. The construction started in November 2017 at Heerema’s Vlissingen yard. In a social media post... Continue Reading →
Mexican industrial group Carso, owned by the billionaire Carlos Slim, has said it has been awarded a contract to build two offshore platforms for the Mexican oil company Pemex. The company said the contract for the engineering, procurement, and construction of two offshore platforms named MALOOB-E and MALOOB-I. The platforms are destined to be deployed... Continue Reading →
Portugal’s Galp Energia earmarked between 1 billion euros ($1.11 billion) and 1.2 billion euros in annual investment until 2022 in an increase from up to 1 billion under a previous plan, seeking to expand its natural gas and renewable energy business. The oil company’s chief executive, Carlos Nuno Gomes da Silva, said on Tuesday it... Continue Reading →
Norway's Equinor ASA is scouting locations on Brazil's coast to install new natural gas infrastructure, the company's Brazil chief said, as the firm's gas-heavy offshore fields come on-line in the coming years. Natural gas is considered both a promising opportunity and a vexing problem in Brazil. The Latin American oil powerhouse is rapidly developing a... Continue Reading →
October 21, 2019 The National Agency of Petroleum, Natural Gas and Biofuels (ANP) published this Monday (21) a project summary of Brasil Refinarias to build a unit with capacity to process 735 barrels / day (117 m³ / day) in Bahia. According to information sent by the company to ANP, the unit is designed to... Continue Reading →
Brazil Energy Insight 