Petro Rio S.A. ("Company" or "PetroRio") (B3: PRIO3) announces its 3Q18 earnings. Quarter Highlights Net Revenue of R$ 224.6 million, over twice that of 3Q17 Highest Operating Results in Company history: R$ 130.1 million Highest ever adjusted EBITDA: R$ 107.1 million in 3Q18, vs. R$ 22.8 million in 3Q17 Highest contribution margin for Polvo since 2014... Continue Reading →

Rio de Janeiro, October 31, 2018 - Petróleo Brasileiro SA - Petrobras reports that today it prepaid a debt with Banco Santander in the amount of US$ 1 billion, due 2023. Simultaneously, it signed with the same institution a new line of credit worth US$ 750 million, due October 2028 and with more competitive financial... Continue Reading →

Rio de Janeiro, October 31, 2018 - Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 3/8/2018, announces that its subsidiary Petrobras International Braspetro B.V. (“PIBBV”) signed today a Sale and Purchase Agreement - “SPA”, related to the full sale of its 50% interest in Petrobras Oil & Gas B.V. (“PO&GBV”) to... Continue Reading →

Oil giant Shell posted a jump in earnings on the current cost of supply basis, boosted by higher oil and gas prices, in what Shell CEO said was one of the company’s strongest ever quarters. The company’s CCS earnings attributable to shareholders excluding identified items were around $5.62 billion, 37% higher compared to 2017 3Q... Continue Reading →

Norwegian seismic services company Magseis will acquire Fairfield’s seismic technology business in a deal valued $233 million. Based in Houston, Fairfield is specializing in Ocean Bottom Node surveys, and it has approximately 230 full-time employees and 250 contracted personnel. The transaction entails Magseis acquiring data acquisition, nodal and system sale & rental activities including all... Continue Reading →

10/30/18 The drilling of the first well in Peroba, in the pre-salt, is expected to continue until February next year. Scheduled to reach the final depth of 6.1 thousand m, well 1-RJS-752 is being drilled by the Ocyan ODN-II drill ship, in the northern part of the block, in a water depth of 2.2 thousand... Continue Reading →

U.S. offshore drilling company Rowan, expected to be acquired by it UK rival Ensco, sees improvement in the offshore drilling space. Rowan, which owns a fleet of 25 offshore rigs, on Wednesday, posted a net loss of $144 million for the third quarter, compared to a loss of $20.9 million in the corresponding quarter of... Continue Reading →

Repsol posted net income of 2.171 billion euros in the first nine months of the year, an increase of 37% over the same period of the previous year, and the highest 9-month result in the last decade. Adjusted net income, which specifically measures the performance of the company’s businesses, increased by 11% to 1.720 billion... Continue Reading →

McDermott International has reviewed its portfolio as part of the integration process resulting from its combination with CB&I earlier this year and decided to divest two of its businesses and use the proceeds to reduce debt.  McDermott said on Tuesday that this decision reaffirmed the company’s commitment to its core capabilities as a vertically integrated... Continue Reading →