U.S. oil company has reported fourth-quarter 2018 earnings of $1.9 billion, an increase compared with fourth-quarter 2017 earnings of $1.6 billion. Excluding special items, fourth-quarter 2018 adjusted earnings were $1.3 billion compared with fourth-quarter 2017 adjusted earnings of $0.5 billion. Continue reading
Rystad: Guyana makes Exxon leader of 2018 exploration pack
U.S. oil major ExxonMobil was the leader of the pack among the top oil and gas explorers of 2018, boosted by its string of offshore oil discoveries in the Latin American country. “ExxonMobil was exceptional, both in terms of discovered volumes and value creation from exploration,” said Rystad Energy head of upstream research Espen Erlingsen. Continue... Continue Reading →
Baker Hughes: 4Q orders reach 3-year high. Revenue, adjusted income rise
Oilfield services giant Baker Hughes GE posted an increase in orders, revenue, and adjusted net income for the fourth quarter of 2018. The company’s 4Q revenue came in in at $6.3 billion, up from $5.8 billion, boosted by its oilfield services business which generated $3,06 billion in revenue. Overall, revenue was up 8 percent. Oilfield... Continue Reading →
PetroRio among the largest producers in Brazil
1/31/19 With the acquisition of Chevron's subsidiaries in the Frade field, PetroRio will increase its production in Brazil by more than 60%, reaching almost 30 thousand boed. In the ranking of the concessionaires, the company should jump to the seventh position, behind Petrobras and big multinationals like Shell, Petrogal, Repsol, Equinor Energy and Equinor Brasil.... Continue Reading →
ROXTEC PERFORMS SERVICES AT PETROBRAS P-68 PLATFORM
January 30, 2019 Petrobras has contracted Roxtec to carry out the quality verification of cables and pipelines on board the FPSO P-68, scheduled to start operating this year. The state company also requested that Roxtec's specialists instruct engineers and installers at Jurong Shipyard on how their sealing solutions work. Roxtec introduced the new inspection... Continue Reading →
BRAZIL HAS 145 OFFSHORE PLATFORMS IN ACTIVITY AND ANOTHER 48 INACTIVE
January 30, 2019 The most recent data from the Navy's Ports and Coasts Board help to draw a map of the offshore platforms in operation today in Brazil as well as those that are inactive. In all, there are 193 platforms, both production and drilling, of which 145 are in operation and 48 are idle.... Continue Reading →
Petrobras Board of Directors Approves Election of Directors and Officers
Rio de Janeiro, January 31, 2019 - Petróleo Brasileiro S.A. - Petrobras, following up on the Press Releases of 4th, 7th and 14th of January of 2019, reports that its Board of Directors approved the appointments of Admiral Eduardo Bacellar Leal Ferreira as Chairman of the Board of Directors of the company, and João Cox... Continue Reading →
Proved Reserves of Petrobras 2018
Rio de Janeiro, January 30, 2019 - Petróleo Brasileiro S.A. - Petrobras discloses the volume of its proved petroleum reserves (oil, condensate and natural gas), estimated as of the end of 2018, according to ANP/SPE (National Agency of Petroleum, Natural Gas and Biofuels/Society of Petroleum Engineers) and SEC (US Securities and Exchange Commission) criteria. Proved... Continue Reading →
Petrobras America signs agreement for sale of the Pasadena Refinery to Chevron
Rio de Janeiro, January 30, 2019 - Petróleo Brasileiro S.A. - Petrobras, following the press released on 05/04/2018, informs that its subsidiary Petrobras America Inc (PAI) signed today with Chevron U.S.A. Inc., a Share Purchase Agreement - SPA relating to the sale of all the shares held by PAI in the companies that encompass Pasadena's... Continue Reading →
Petrobras – Approval of the agreement with the Federal Public Prosecutor’s Office
Rio de Janeiro, January 30, 2019 - Petróleo Brasileiro SA - Petrobras, following up to the Press Release of 09/27/2018, informs that, today, it paid the Commitment Assumption Agreement ("Agreement "), made with the Federal Public Prosecutor's Office (" MPF ") and judicially approved on January 25, 2019, in the amount of US$ 682.6 million,... Continue Reading →
Brazil Energy Insight 