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 →
Halliburton posts bigger 4Q loss
Oilfield services provider Halliburton recorded a bigger loss for the fourth quarter of 2017 compared to the prior-year period despite an increase in revenues. Halliburton on Monday posted a net loss attributable to company of $824 million for the fourth quarter of 2017 compared to a loss of $149 million in the fourth quarter of... Continue Reading →
Aker Solutions wraps up one of its deepest subsea installations for Petrobras
Oilfield services provider Aker Solutions has installed its first subsea manifold for Petrobras’ deepwater pre-salt fields. Aker Solutions said via social media last Friday that it had installed the manifold at the Iracema Sul field in the Santos Basin offshore Brazil. Read more
Oil’s Rout Is Over, Hail the Return of $100 Crude! Maybe
After three years of gloom, the number 100 is finally starting to resurface in the forecasts of market analysts. A slump in new production outside the U.S. shale patch in 2019 could help to send Brent crude briefly back above $100 a barrel next year, according to London-based consultancy Energy Aspects. Read more
Big Decision to Shape Lula’s Future, and Brazil’s
Brazil’s economic and political future will be shaped by what happens in a courtroom in the southern city of Porto Alegre on Jan. 24. That’s the day a three-judge panel of the Fourth Federal District Court will decide whether to uphold former President Luiz Inacio Lula da Silva’s nine-and-a-half year sentence for graft and money... Continue Reading →
Oil comeback attracts foreigners – Brazil
The oil and gas sector in Brazil has been attracting new players. Companies from countries such as the United States, Netherlands, Switzerland, Denmark, France and China are settling in the country and, mainly, partnering with national companies with a view to resuming the activity of the oil industry. This movement began to gain momentum last year and... Continue Reading →
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