Offshore drilling contractor Seadrill is seeing continuous signs of improvement in offshore drilling market with increased tendering activity and better contract economics. Seadrill on Tuesday posted revenues of $292 million for the fourth quarter of 2018, which is a 17% increase when compared to revenues of $249 million in the third quarter of 2018. Continue reading

Is the fragile market cracking under pressure? Despite some ambitious growth-oriented investments, some of the continent's traditional big guns will be facing challenges in 2019 Despite rising crude prices in 2018, many Latin American countries are still grappling with considerable debt and declining production rates. However, recent discoveries and licensing rounds have attracted a strong... Continue Reading →

Sluggish consumer and business spending, uncertainty surrounding the country’s new far-right president and slowing global growth led to a sharp slowdown in Brazilian economic growth in the fourth quarter, a Reuters poll of economists showed on Monday. The extent to which Latin America’s biggest economy rebounds this year depends largely on the scale, scope and... Continue Reading →

U.S.-based engineering, procurement, construction, and installation company McDermott International reported a large loss for the fourth quarter of 2018 due to a $2.2 billion impairment. McDermott on Monday reported revenues of $2.1 billion and net loss of $2.8 billion for the fourth quarter of 2018. In the fourth quarter 2017, McDermott’s revenues totaled $718 million... Continue Reading →

A new managing director of Wintershall’s Argentinian entity will be named after the closing of the merger between Wintershall and compatriot DEA. German company Wintershall said on Monday that Gustavo Albrecht, managing director of the company’s Argentinian subsidiary Wintershall Energía for the last nine years, would be leaving the company on February 28. Albrecht will... Continue Reading →

22 February 2019 The ANP Board approved on Friday (22/2) the draft bidding documents for the amended Permanent Offer to include 472 areas that obtained a positive manifestation from the competent environmental agencies (458 blocks with exploratory risk and 14 areas with accumulations). With the inclusions, the Permanent Offering now has 630 areas, of which... Continue Reading →

02/25/2019 Brasco, the offshore support company of the Wilson Sons Group, has entered into an agreement with Total E & P do Brasil to provide logistical support to production activities in the Lapa field, located in the Santos Basin pre-salt. "We have been working with Total since 2013, when the exploration campaign began in the... Continue Reading →

Rio de Janeiro, February 22, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that in January its total production of oil and gas, including natural gas liquids (NGL), was 2.61 million barrels of oil equivalent per day (boed), of which 2.54 million boed produced in Brazil and 73 thousand boed abroad. The company's total operated... Continue Reading →

When the giant P-67 floating oil production vessel lit its flare tower earlier this month, it marked the start of a Brazilian supply boom that’s poised to challenge OPEC’s efforts to balance the global market. The mammoth facility -- long and wide enough to fit an American football field -- is the first of four similar platforms to begin... Continue Reading →