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 →

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 →