Houston-based offshore driller Diamond Offshore has sunk to a net loss for the third quarter 2018, more than $60 million away from the $10.8 million profit the company reported in 3Q 2017. Diamond Offshore reported a $51 million loss in its 3Q financial report on Monday which was far from the $10.8 million profit posted... Continue Reading →

U.S. oil company Kosmos Energy saw its net loss double over the third quarter of 2018 despite a significant increase in revenues when compared to the prior-year period. Kosmos Energy on Monday posted a net loss of $126.1 million as compared to net loss of $63.4 million in the same period last year. Read more

The country faces key downstream and infrastructure challenges Efforts to reform Brazil's downstream fuels market illustrate the tension between trying to move away from over-arching state control, but also placate a populace angry after corruption scandals and economic austerity. Under existing law, Petrobras plays the role of the country's sole supplier, but this no longer... Continue Reading →

Offshore driller Vantage Drilling has reduced its quarterly net loss on the back of higher revenues as its rig utilization went up compared to the prior-year period.  Vantage Drilling on Friday reported a net loss of approximately $26.1 million for the three months ended September 30, 2018 as compared to a net loss of $40.1... Continue Reading →

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 →