James Fisher Offshore (JFO) and First Subsea have joined forces to launch a cut and lift product that reportedly promises to streamline decommissioning projects worldwide. Over the last year, First Subsea and JFO, part of James Fisher and Sons, have explored how they could combine their water abrasive jet cutting technology and ball and taper... Continue Reading →

  Canada’s CGX Energy and Frontera Energy have executed a farm-in joint venture agreement covering CGX’s two shallow water offshore Petroleum Prospecting Licenses in Guyana, the Corentyne and Demerara Blocks. These agreements remain subject to Guyanese government approval, Frontera said last Friday. Continue reading

Rio de Janeiro, February 1, 2019 - Petróleo Brasileiro S.A. - Following the Material Facts disclosed on December 26 and 28, 2018 and January 8, 2019, Petrobras informs that the bookbuilding of the sixth (6th) issuance of simple, non-convertible, unsecured debentures of the Company (“Issuing” and “Debentures”), for placement under best efforts, pursuant to CVM... Continue Reading →

Rio de Janeiro, February 1, 2019 - Petróleo Brasileiro S.A - Petrobras, following up on the notice to the market released on 10/30/2018, informs that it has initiated the mothballing process of the fertilizer plant  located in Sergipe (Fafen-SE) and that it continues with the lease bidding process for this unit and for the unit... Continue Reading →

Oil giant ExxonMobil saw its fourth quarter 2018 earnings drop 28 percent compared to the fourth quarter of 2017 as last year’s result was boosted by tax reform. ExxonMobil on Friday reported earnings of $6 billion, down from $8.3 billion realized in the fourth quarter of 2017. The 4Q 2017 result included a gain of... Continue Reading →

  Chevron has reported an increase in earnings for the fourth quarter 2018, posting a net income of $3.7 billion, up from $3.1 billion billion in the fourth quarter 2017. The difference in earnings would have been even bigger in comparison, as 4Q 2017 result included $2.02 billion in tax benefits related to U.S. tax... Continue Reading →

  Brazilian oil major Petrobras has said it has paid $682.6 million as part of the non-prosecution settlements entered into last year with the U.S. and Brazilian authorities over the investigation into violations of the Foreign Corrupt Practices Act (FCPA). Petrobras has this week said that it paid “the Commitment Assumption Agreement (“Agreement “), made with the... Continue Reading →

1/31/19 The National Council for Energy Policy (CNPE) published Resolutions 17 and 18 of 12/17/2018, which authorize the National Petroleum, Natural Gas and Biofuels Agency (ANP) to carry out Bid Rounds for exploration and production of oil and natural gas on the Brazilian coast. Resolution No. 17 authorizes the holding of the 16th Bidding Round,... Continue Reading →