Oilfield services provider TechnipFMC recorded a decrease in quarterly profit and revenues but saw an increase in orders.  Total company revenue in 1Q 2019 was $2.9 billion compared to $3.1 billion in the corresponding quarter of 2018. Net income dropped to $20.9 million in the first quarter 2019 from $95.1 million in the same period... Continue Reading →

Rio de Janeiro, April 25, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that it received the Official Letter No. 141/2019/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No 141/2019/CVM/SEP/GEA-1 "Dear Executive Officer, We refer to the Relevant Fact published by the issuer on 09-27-2018, the Market Communication of 01-30-2011, and the report published on... Continue Reading →

Rio de Janeiro, April 25, 2019 – A Petróleo Brasileiro S.A. – Petrobras informs that today it executed three sale and purchase agreements to sell assets in the total amount of US$ 10.3 billion (about R$ 40 billion). In 2019, considering the signed transactions and the closed one, the total amount of asset sales is... Continue Reading →

Mexican President Andres Manuel Lopez Obrador said that oil output from private companies hasn’t risen to a level that would justify restarting auctions that his administration put on hold. Lopez Obrador said private companies are only producing 4,000 barrels of crude per day, based on the information he has from state-owned oil company Petroleos Mexicanos. As... Continue Reading →

Rio de Janeiro, April 25, 2019 –  Petróleo Brasileiro S.A. – Petrobras informs, within its ongoing process of assessment of contingencies, that it will provision R$ 1.3 billion as a result of the current stage of litigation involving the company Sete Brasil. The company, which is a victim of the facts verified by Operation Car... Continue Reading →

By World Oil staff on 4/24/2019 HOUSTON -- The third and latest offer (this time publicly) on Wednesday by Occidental Petroleum for Anadarko Petroleum has prompted a discussion among analysts as to whether the large independent’s assets are a better fit with Oxy or Chevron. Less than two weeks ago, Chevron announced that it had... Continue Reading →

Oil and gas company Tullow Oil’s output during the first quarter of the year was below expectations due to issues on its operated fields located offshore Ghana. As a result, Tullow has lowered its 2019 production forecast range. In an operational update on Thursday Tullow said that its working interest production for the first quarter... Continue Reading →

U.S. oil and gas company Hess Corporation booked a profit for the first quarter of the year as opposed to a loss in the same period last year driven by higher production from the Gulf of Mexico, Bakken, and North Malay Basin. Hess Corporation on Thursday reported revenues of $1.57 billion compared to $1.35 billion... Continue Reading →