KUALA LUMPUR (Aug 10): National oil firm Petroliam Nasional Bhd (Petronas) is among the first batch of oil majors approved by the the licensing committee of Brazil's hydrocarbons regulator ahead of the country’s 14th licensing round for oil and gas concessions, scheduled for 27 September. Energy portal Upstreamonline this morning reported that the 14-strong list... Continue Reading →

When former Brazilian President Dilma Rousseff's government repeatedly missed its fiscal targets, investors fled the country. Now that her successor, Michel Temer, seems poised to do the same, financial markets appear unperturbed. Finance Minister Henrique Meirelles is expected to announce in the coming weeks a wider budget deficit goal for 2017 as a slower-than-expected economic... Continue Reading →

  09/08/2017 Odebrecht is changing the names and logos of all its companies this month as part of a strategy to distance itself from corruption with Petrobras, which revealed that the company paid billions in bribes. The name of the group will not change, but will be removed from all companies, such as "Odebrecht Oil... Continue Reading →

Nicolas Maduro was in his element, flanked by an enormous Venezuelan flag, beneath a portrait of Simon Bolivar on horseback, in front of a statue of Hugo Chavez, praising foreign companies wise enough to make deals with what he called “our beloved PDVSA.” That would be Petroleos de Venezuela SA, the state-owned oil giant struggling to... Continue Reading →

BY MANOEL VENTURA /Globo The Repetro program suspends the collection of federal taxes on the importation of equipment destined to the petroleum sector. Under the new rules, similar domestic products will undergo the same tax treatment. The provisional measure is being finalized by the federal government, according to sources accompanying the lawsuit. Created in 1999,... Continue Reading →

Prosafe, an owner and operator of semi-submersible accommodation rigs known as flotels, will lay up another one of its units, following contract completion with Petrobras.  In its operational update for 2Q 2017 on Monday, Prosafe said that its 2005-built flotel Safe Concordia was fully contracted in the second quarter for Petrobras at a market adjusted dayrate.... Continue Reading →

U.S. oil and gas company Marathon Oil tightened its net loss for the second quarter and reduced capex for the year.  On Wednesday, the oil company reported a second quarter 2017 net loss of $139 million, compared to $170 million net loss in the prior-year quarter. The result for this year’s quarter includes the impact of certain... Continue Reading →

U.S. independent Noble Energy’s net loss the second quarter of 2017 deepened to $1,5 billion, versus a loss of $315 million a year ago. The company explained the loss was driven by the impact of the Marcellus upstream asset exit in the U.S. Total Company sales volumes for the second quarter of 2017 were 408... Continue Reading →

After experiencing a tough first half of the year, the Dutch geotechnical, survey, subsea and geoscience services provider, Fugro, has made plans to further cut costs to counter the continued challenging market conditions.  In its Thursday report for the first half of the year, Fugro said it reduced its net result for the period to... Continue Reading →