April 27, 2018 Ancap did not receive any offers for the 3rd Round of Uruguayan Tenders, where 17 offshore blocks were offered in three different sedimentary basins. They were 7,600 km2 of exploratory area varying in water depth of 50 and 4,000 m. The Uruguayan government understands that the auction was frustrated by the fall... Continue Reading →
Petrobras Partnerships in Refining: Disclosure of Opportunities – Teasers
Rio de Janeiro, April 27, 2018 - Petróleo Brasileiro S.A. - Petrobras informs that it has started the disclosure stage of two divestment opportunities (Teasers) related to the sale of its interest in refining and logistics in two geographical regions in Brazil. The model provides for the creation of two subsidiaries, one including assets from... Continue Reading →
5th pre-salt auction scheduled for September 28. CNPE to approve auction next week
April 27, 2018 The Ministry of Mines and Energy (MME) scheduled for September 28 the 5th pre-salt auction, which will offer the two blocks removed from the 15th Round plus the Saturno, Pau Brasil and Tartaruga Verde Sudoeste areas. The auction should be approved at an extraordinary meeting of the National Energy Policy Council (CNPE)... Continue Reading →
Petrobras; Concession holders in Brazil face hefty bill
Companies from Brazilian state oil company Petróleo Brasileiro SA to commodities giant Louis Dreyfus Company and German car giant Volkswagen AG (VOWG_p.DE) could face hefty bills after Brazil’s Supreme Court this month allowed local governments to charge property taxes to operators of public concessions. The ruling settled an 18-year old spat between Petrobras (PETR4.SA), as... Continue Reading →
Statoil in top management shakeup ahead of name change
Norwegian oil and gas major Statoil is making changes in its corporate executive committee (CEC) and structure ahead of its name change to Equinor. One notable change will be establishing Brazil as a separate business. In mid-March Statoil proposed to change the name of the company to Equinor to support the company’s strategy and development... Continue Reading →
Aker Solutions profit jumps amid signs of market rebound
Norwegian oil services company Aker Solutions saw an increase in its quarterly profit and revenues driven by growth in North Sea work as its orders nearly doubled amid signs of a market rebound. Aker Solutions on Friday said that its net income jumped to NOK 105 million in the first quarter of this year from... Continue Reading →
Eni records slight dip in net profit. Production rises
Italian oil company Eni reported a slight drop in its first-quarter profit of 2018, compared to the first quarter of 2017. The company’s first-quarter profit was 946 million euros, two percent down from 965 million euros realized in the first quarter a year ago. Worth noting, 1Q 2017 included a gain recorded on the divestment... Continue Reading →
Bassoe: You’re not an idiot if you believe in deepwater drilling
One of the questions I get asked most often is: what do you think about the market for deepwater drillships? We’ve talked a lot previously about our sunny outlook for higher-specification jack-ups and midwater harsh environment semi-subs. And although we’ve had a few good things to say about deepwater here and there, the drillship market has... Continue Reading →
Total’s adjusted profit up by 13 pct on record output
French oil major Total saw its net profit fall by 7 percent for the first quarter of the year. However, in adjusted terms, Total’s profit rose by 13 percent as its production grew by 5 percent. According to its financial statements released on Thursday, the company’s net income decreased by 7% to a $2.6 billion... Continue Reading →
Subsea 7 slips into the red over lower activity levels
UK-based subsea engineering and construction company Subsea 7 sank to a loss during the first quarter of 2018 due to lower activity levels and foreign currency loss as its revenues fell by 10 percent. Subsea 7 on Thursday posted a net loss of $18 million for the first quarter of the year compared to a... Continue Reading →
