Singapore’s industrial conglomerate Keppel Corporation posted a revenue of S$1,6 billion for the third quarter of 2017, an increase S$158 million or 11% above that of 3Q 2016. However, revenue from the Offshore & Marine Division, Keppel is mostly famous for, declined by S$136 million to S$380 million, 25 percent down from last year’s S$516 million because... Continue Reading →
After E&P, Engie now in talks to sell LNG business?
French energy company Engie has said it has launched a strategic review of its upstream and midstream LNG activities. The company confirmed this on Monday, following press speculation that it is in talks to sell its LNG business to its rival and compatriot, Total. Engie, formerly known as GDF Suez, on Monday confirmed it had launched... Continue Reading →
Oil majors set to compete for pre-salt acreage in Brazil
Brazil’s oil and gas agency ANP has defined the criteria for winning blocks in the 2nd and 3rd Pre-Salt Bidding Rounds set to be held on Friday in Rio de Janeiro. The two rounds will offer blocks for exploration and production of oil and natural gas, on a production sharing basis. According to the ANP,... Continue Reading →
Brazil’s Biofuel Push Is Threatened by Too Much Cheap Oil
Brazil is positioning itself as a global biofuels ambassador, fighting climate change by spurring demand for ethanol. It will be a tough sell in a world awash with cheap oil. Brazil is one of the leaders of the Biofuture Platform, a group of 20 nations that also includes the U.S., China and France. The organization was formed... Continue Reading →
Halliburton CEO Defends Fracking Business as Margins Disappoint
Fracking isn’t looking so great for the world’s biggest fracker, but the CEO of Halliburton Co. says he can pull some levers to improve profits. After lackluster margins for the company’s main business sent shares tumbling, casting a cloud over third-quarter earnings that otherwise beat estimates, Chief Executive Officer Jeff Miller said there are three things he... Continue Reading →
Saetre to remain CEO of Statoil after he turns 62
Eldar Sætre, CEO of the Norwegian oil company Statoil, will continue as CEO after he turns 62 in February 2018, and will not use his contractual right to retire at the age of 62. Read more
Aker Solutions to deliver largest umbilical system ever. Client unknown
Norway’s Aker Solutions has won an order valued at more than NOK 1.6 billion to deliver the largest umbilicals system ever. The contract entails delivery of 250 kilometers of steel-tube umbilicals linking a subsea development to an existing offshore platform. “We are honored to have been selected to work on this project, which is groundbreaking... Continue Reading →
Baker Hughes books loss in first report following GE merger
Oilfield services provider Baker Hughes, a GE company (BHGE), posted a loss for the third quarter 2017 despite seeing an increase in orders. This is BHGE’s first quarterly report following the closure of the previously announced combination of Baker Hughes with General Electric’s oil & gas business, GE Oil & Gas, on July 3, 2017. According to... Continue Reading →
Schlumberger records profit and revenues boost in third quarter
Schlumberger, the world’s largest oilfield services provider, saw an increase in profit and revenues during the third quarter of 2017 compared to the prior-year period. The company on Friday posted a profit of $545 million for the third quarter of this year, compared to a $176 million profit recorded in the same period of 2016. Read more
Brazil’s Temer says pension reform might not pass this year
President Michel Temer said on Friday that a bill overhauling Brazil’s costly pension system might not clear Congress this year as planned, the first time that he has indicated that such a delay might happen. Read more
