Oilfield services provider Baker Hughes, a GE company, has recorded a loss for the fourth quarter of 2017, the company said on Wednesday in its second quarterly report following a merger with GE’s oil and gas unit. Baker Hughes’ orders of $5.8 billion for the fourth quarter 2017 were up 1% sequentially and down 2% year-over-year on... Continue Reading →
Petrobras’ Turnaround CEO Could Consider Staying Past Elections
The man responsible for Petrobras’ recovery from scandal and rout could consider staying in the job after presidential elections, as long as the state-controlled producer keeps its independence under the next government. Pedro Parente has won praise for trimming the biggest debt load in the oil industry even amid the price rout, settling a class... Continue Reading →
BP Is ‘Scanning’ for Renewables Deals to Plan for a Life Beyond Oil
BP Plc, the oil major that sold a third of its assets after a disastrous rig accident in 2010, said it won’t be left behind as the industry boosts investment in new energy. “We haven’t made really big bets but we’re scanning and screening everything” to assess renewables opportunities, Chief Executive Officer Bob Dudley said... Continue Reading →
Big Oil Plans Tenfold Expansion of Cost-Cut Collaboration/Davos
The world’s largest energy companies plan to significantly widen a two-year effort to standardize the kit they use to pump oil and gas, hoping they can deliver significant cost savings, said people familiar with the matter. The discussions, scheduled on Wednesday for a closed-door meeting at the World Economic Forum in Davos, are the latest... Continue Reading →
ANP 2018 Bidding Round Road Show
ANP Executive Director, Decio Oddone and director Dirceu Amorelli will hold a series of meetings in Calgary (Canada) and New York (USA) this week (22-26/1) to announce the bidding rounds scheduled for this year and the permanent offer areas. In Calgary, meetings are planned with industry players and a presentation to members of the Canadian... Continue Reading →
Big Oil Projects Start to Get Off the Ground as Prices Surge
The global oil industry’s backlog of big drilling projects is starting to shrink as prices improve. From production vessels tapping Brazil’s deep-water reserves to pipes connecting rigs to underwater wells in China, the number of ventures delayed since the oil crash that finally got approval to get off the ground totaled 18 last year, according... Continue Reading →
Fitch Ratings affirmed Petrobras’ risk rating
Rio de Janeiro, January 22, 2018 - Petróleo Brasileiro SA - Petrobras informs that Fitch Ratings issued, today, a report to the market reaffirming the risk level of the company’s corporate debt at BB and maintaining the negative outlook. Fitch considers that the company’s risk level is strongly correlated with the sovereign risk, due to... Continue Reading →
ExxonMobil wins 2017 Explorer of the Year award
Oil major ExxonMobil has been named the 2017 Explorer of the Year by the World Oil and Gas Council in recognition of excellence and innovation in the global energy industry. During the year, ExxonMobil announced a number of discoveries, acquisitions and other activities in various countries, including Brazil, Cyprus, Equatorial Guinea, Guyana, Mauritania, Papua New... Continue Reading →
Dyna-Mac starts building Liza FPSO topside
Dyna-Mac has kicked off the construction of the topsides for the Liza FPSO, destined for Exxon’s Liza field in Guyana. News of the first steel cutting for the topside was shared on Monday by SBM Offshore, a Dutch FPSO specialist which in June 2017 secured the contract to construct, install, lease and operate the FPSO... Continue Reading →
Court gives nod for Seacor-Montco liftboat JV
A U.S. bankruptcy court has approved Seacor Marine’s stalking horse bid to form a joint venture company with Montco Offshore, a liftboat specialist that has earlier filed for Chapter 11 bankruptcy protection. Seacor, a U.S. offshore vessel owner, said on Friday, the United States Bankruptcy Court for the Southern District of Texas, Houston Division had... Continue Reading →
