A new and important contract for the Omni Air Taxi, which has just won a contract from France's Total for passenger transportation and 24-hour aeromedical coverage for Campo de Lapa, in the Santos Basin. Two H225 aircraft will be used, with a capacity to carry up to 19 passengers. The agreement between the two... Continue Reading →
Libra consortium starts process of contracting new FPSO for Mero
Feb. 1/2018 Petrobras, operator of the Libra Consortium, started the competitive process to contract the charter of the second definitive production system of Campo de Mero. Campo de Mero is located in the northwest area of the Libra block, about 180 km off the coast of Rio de Janeiro, in the pre-salt of the... Continue Reading →
ConocoPhillips swings to profit, raises dividend
U.S. oil major ConocoPhillips returned to quarterly profit helped by higher oil prices and increased its dividend and share buyback. ConocoPhillips on Thursday reported fourth-quarter 2017 earnings of $1.6 billion, compared with a fourth-quarter 2016 net loss of $35 million. Excluding special items, fourth-quarter 2017 adjusted earnings were $0.5 billion, compared with a fourth-quarter 2016... Continue Reading →
Mexico awards 19 offshore blocks. Hopes for $93B investment
Mexico has awarded 19 offshore blocks to 11 companies at its bidding round for deepwater acreage held on Wednesday. The country will get $525 million from the winning offers submitted for acreage in Perdido Belt, Cordilleras Mexicanas and Salina Basin. Read more
Petrobras Issues US$ 2 billion in Global Notes
Rio de Janeiro, February 1, 2018 – Petróleo Brasileiro S.A. - Petrobras announces that it has closed today a US$ 2 billion issuance of 2029 notes in the international capital markets. The notes were issued by Petrobras’ wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) and constitute general senior unsecured and unsubordinated obligations of PGF that... Continue Reading →
Cnooc Aims for Highest Spending in Four Years as Oil Recovers
Cnooc Ltd. plans to raise capital spending to the highest since 2014 and revised upward its oil and gas output targets as China’s biggest offshore producer recovers from crude’s crash. The Beijing-based explorer sees capital expenditures at 70 billion to 80 billion yuan ($11.1 billion to $12.7 billion) for 2018, it said in a statement to the Hong... Continue Reading →
Goldman Says Oil to Surpass $80 With Market Likely Balanced
Goldman Sachs Group Inc. hiked its short-term crude oil price forecast by as much as 33 percent, saying the market is now likely balanced. The bank now estimates Brent will reach $75 a barrel over the next three months and will climb to $82.50 within six months, analysts including Damien Courvalin wrote in an emailed report.... Continue Reading →
Utility Giant CEO Sees Clear Path to Privatization in Brazil
The chief executive officer of Brazil’s state-owned utility Eletrobras remains confident that a controversial plan to take the company private will succeed this year despite opposition from lawmakers and an upcoming presidential election. Congress is well positioned to approve a bill by July to privatize Latin America’s largest power company, months in advance of October’s presidential election,... Continue Reading →
Petrobras making ‘interesting discoveries’ in Campos basin: CEO
Brazil’s state-controlled oil company Petroleo Brasileiro SA is making “interesting discoveries” in blocks in the Campos basin, off the Rio de Janeiro coast, where it is drilling deeper to reach the pre-salt layer, Chief Executive Pedro Parente said on Wednesday. Read more
Chevron Boosts Quarterly Dividend For First Time Since Late 2016
Chevron Corp. raised its quarterly dividend as the world’s third-largest oil explorer by market value emerges from the worst crude market collapse in decades. Chevron will pay investors $1.12 a share, the San Ramon, California-based driller said Wednesday in a statement. Chevron has been expected to boost the dividend by 3 cents to $1.11, according to a... Continue Reading →
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