Airborne Oil & Gas has named Renato Bastos as vice president Brazil. Renato will be responsible for delivering the company’s roadmap to qualify the Thermoplastic Composite Pipeline (TCP) riser for dynamic application in deepwater Brazil. Continue reading
ION in Farofa reimaging program offshore Brazil
ION Geophysical, a Houston-based geoscience company, will expand its multi-client data through a new 2D multi-client re-imaging program offshore Brazil. ION said on Tuesday that the first phase of the Farofa program covered acreage in the deepwater Campos basin that would be available for licensing this October in Brazil’s upcoming Round 16. The program will... Continue Reading →
Brazil to maintain leadership in deep water
February 6, 2019 Brazil will continue to dominate global oil and gas production in deep waters, accounting for 40% of the total oil and gas production in this environment by 2025, predicts the Westwood Global Energy Group. Maintaining the Brazilian position is mainly associated with Petrobras' business plan, which forecasts production of 2.84 million bopd... Continue Reading →
GeoPark Announces 2018 Certified Oil and Gas Reserves
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil and Chile, today announced its independent oil and gas reserves assessment, certified by DeGolyer and MacNaughton Corp. (D&M), under PRMS methodology, as of December 31,... Continue Reading →
TechnipFMC Awarded a Large EPCI Contract for the Petrobras Mero 1 Pre-Salt Field in Brazil
TechnipFMC has been awarded by Petrobras, on behalf of the Libra Consortium, comprised of Petrobras, Shell, Total, CNOOC Limited, CNPC and Pré-Sal Petróleo (PPSA), a large engineering, procurement, construction and installation (EPCI) contract for the Mero 1 pre-salt field, located in the Santos Basin, at 2,100 meters of water depth offshore Brazil. The contract covers... Continue Reading →
Oil Giants Are Pumping Out Torrents of Cash
The world’s biggest oil companies are pumping out cash like crude’s at $100 a barrel again, and investors love it. Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp.and BP Plc smashed analysts’ earnings estimates for the fourth quarter, giving investors assurance that their dividends and buybacks are secure even with oil trading near $60. Continue reading
Prosafe sinks to loss despite highest fleet utilization since 2015
Prosafe, an operator of semi-submersible accommodation vessels, sank to the red in the fourth quarter of 2018 despite the highest quarterly fleet utilization since the third quarter of 2015. Prosafe on Tuesday reported a net loss of $25.8 million for the fourth quarter of 2018 from a net profit of $40 million in the same... Continue Reading →
BP’s profit swells. Output highest since 2010
British oil major BP reported a rise in both fourth quarter and full year profits of 2018. The company said on Tuesday its underlying replacement cost profit for the full year 2018 was $12.7 billion, more than double that reported for 2017. The fourth quarter underlying replacement cost profit result was $3.5 billion, compared to... Continue Reading →
Armada of tankers with Venezuelan oil forms in U.S. Gulf: sources, data
A flotilla loaded with about 7 million barrels of Venezuelan oil has formed in the Gulf of Mexico, some holding cargoes bought ahead of the latest U.S. sanctions on Venezuela and others whose buyers are weighing who to pay, according to traders, shippers and Refinitiv Eikon data. The Trump administration’s move to impose sanctions last... Continue Reading →
Petrobras – Disclosure of Reduction in Relevant Shareholding Interest
Rio de Janeiro, February 4, 2019 – Petróleo Brasileiro S.A. – Petrobras, in compliance with article 12 of CVM Instruction 358 of January 3, 2002 and Circular Letter CVM/SEP/No001/2017, informs that it was notified by the National Bank for Economic and Social Development (“BNDES”) and BNDES Participações SA ("BNDESPAR"), a wholly-owned subsidiary of BNDES, that... Continue Reading →
Brazil Energy Insight 