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Exxon Mobil Corp is studying a possible purchase of production rights in Brazil’s so-called transfer-of-rights area - one of the world’s most promising offshore oil areas - although no decision has yet been made on the matter, an executive said on Friday. Speaking at an event in Sao Paulo, Exxon’s Brazil chief Carla Lacerda said... Continue Reading →
4/26/2019 The government took another step in the preparations for the mega-auction of the surplus of the Transfer of Rights assignment and defined the premises that will be used to calculate the financial compensation owed to Petrobras for the investments made by the state company in the areas that will be offered in the bid,... Continue Reading →
4/24/2019 Petrobras has produced its first batch of VLSFO sulfur bunker fuel that is compatible with International Maritime Organization (IMO) regulations for 2020 according to Argus and reported by Ship & Bunker. Although not the first oil company to do so, it is one of the first to have published some specifications for the fuel.... Continue Reading →
4/26/2019 New opportunities in the Brazilian subsea segment may generate contracts surpassing the US $ 4.5 billion in the next two years. The estimate is from TechnipFMC, one of the leading global suppliers of goods and services in the area. In a press release published on the 25 of April, the company lists five projects... Continue Reading →
Ibama rejected Total's request for reconsideration to unseal the licensing process for exploratory drilling in the area of blocks FZA-M-57, 86, 88, 125 and 127, in Foz do Amazonas, won in the 11th round of the ANP. Now, according to information confirmed by the Ministry of the Environment, the company must restart the licensing with... Continue Reading →
Anadarko Petroleum Corp, the target of a bidding war between Occidental Petroleum Corp and Chevron Corp, beat analysts’ estimates for quarterly profit on Thursday, fueled by higher sales volume and lower costs. Occidental made a counterbid for Anadarko’s vast shale holdings in the prolific Permian Basin of West Texas and New Mexico on Wednesday, offering... Continue Reading →
(Reuters) - U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses. Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31,... Continue Reading →
Exxon Mobil Corp on Friday reported first-quarter profit fell sharply on lower oil and gas prices and weakness in its refining and chemicals businesses that offset modest production gains. The largest U.S. oil producer’s first quarter earnings fell to $2.35 billion, or 55 cents a share, from $4.65 billion, or $1.09 a share, a year... Continue Reading →
Total SA boosted cash flow in the first quarter as record hydrocarbon output and soaring sales of liquefied natural gas compensated for a drop in crude prices. The French energy giant’s earnings are the latest sign of the industry’s recovery from a deep downturn, with Total benefiting from the start of giant LNG projects from Australia... Continue Reading →
Dutch subsea and survey specialist Fugro has seen its revenue increased some 9 per cent from €350 billion in Q1 2018 to €395 million in Q1 2019. Fugro’s marine division, with revenue at €244 billion in Q1 2019, generated some 10 per cent more than in Q1 2018. Marine division backlog for the next 12... Continue Reading →
