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 to maintain record low rates, debate turns to more easing: Reuters poll
Brazil’s central bank will keep its benchmark interest rate anchored at a record low later this week, and probably keep it there for the rest of this year, according to a Reuters poll of economists. The central bank’s policy-setting committee (Copom) has held its Selic interest rate at 6.50 percent since March last year, and... Continue Reading →
Oil production in Brazil up 4.8% in December
January 4, 2019 In December 2018, Brazil's oil and gas production totaled 3.406 million barrels of oil equivalent per day, with 2,691 million barrels of oil per day and 114 million cubic meters of natural gas per day. Oil production in the period increased by 4.8% compared to the previous month and 3%... Continue Reading →
Woodmac: Five offshore wells to watch in 2019 (Peroba)
Latin America and southern and western Africa are the regions to keep a close eye on when in comes to offshore exploration, energy intelligence group Wood Mackenzie said in its analysis on Monday, also sharing the top five offshore exploration wells expected to be drilled in 2019. One of them could potentially hold 5 billion... Continue Reading →
Plan for Alto de Cabo Frio Oeste approved/Shell plans to drill this year an exploratory well in the pre-salt area of the Santos Basin
2/4/19 The ANP approved the Shell's exploration plan in Alto de Cabo Frio Oeste, in the pre-salt of the Santos Basin. The oil company informed BE Petróleo that it plans to drill this year an exploratory well in the asset, acquired in the third round of production sharing, in 2017. The company's expectations for Brazil... Continue Reading →
