U.S. oil major Chevron has doubled its third quarter earnings on the back of higher oil and gas prices.  Chevron on Friday reported earnings of $4 billion for third quarter 2018, compared with $2 billion in the third quarter of 2017. Included in the current quarter were a write-off, an asset impairment, and a non-recurring... Continue Reading →

Exxon reported earnings of $1.46 per share versus $1.23 per share forecast by Refinitiv. While Exxon's earnings have steadily improved, its profits had fallen short of the Street's expectations in four of the last five quarters. Exxon's refining operations are in focus after executives warned in July that investors should expect significant refinery maintenance in... Continue Reading →

  RIO DE JANEIRO (Reuters) - Brazil’s far-right president-elect Jair Bolsonaro said on Thursday that debt-ridden state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) is not in the position to afford new investments and will need to look for partnerships. Bolsonaro also said that a proposed deal between Embraer SA (EMBR3.SA) and Boeing Co (BA.N) that... Continue Reading →

Drilling campaign is the first of the oil company as operator in the pre-salt by epbr November 1, 2018 IBAMA issued an operating permit authorizing the drilling, completion and abandonment of four Total wells in the Lapa field, in the Santos Basin pre-salt. The license is valid for five years and will be the first... Continue Reading →

10/31/18 Brazil could get four private refineries in the next decade, increasing its processing capacity by 100,000 b / d. The new plants are being planned by Noxis Energy, a Rio de Janeiro-based company that intends to invest US $ 1.3 billion in the projects. The agreements to lease or buy the land are still... Continue Reading →

The current fundamentals in the market aren’t driving values; buyers are. As deepwater drillship transactions keep trickling in, values are likely to climb further. Golden Close Maritime Corp. announced [on Tuesday] the sale of their only drilling rig, the Deepsea Metro I, to an Asian buyer. The drillship, built in 2011 by Hyundai Heavy Industries and... Continue Reading →

Following Offshore Energy Today’s report this week that Ensco had won a drillship deal with France’s Total, the driller has shared more info on the deal. According to Ensco, the Ensco DS-9 was actually awarded a one-well, four-month, contract with Total offshore French Guiana. The contract, Ensco said, is expected to start in January 2019, and end... Continue Reading →

RIO DE JANEIRO (Reuters) - Brazilian federal judge Sergio Moro, a crusading anti-corruption judge, said on Thursday he had accepted an offer from far-right President-elect Jair Bolsonaro to lead the justice ministry, drawn by the chance to implement a broad agenda to combat graft and organized crime. Moro, who led the so-called “Operation Car Wash”... Continue Reading →