Impaired: NOV Q3 results stuck in red Luke Johnson/Upstream 27 October 2016 04:16 GMT Eoin O'Cinneide  27 October 2016 07:58 GMT Huge impairments and a halving in revenues sent US services outfit National Oilwell Varco (NOV) to a large loss in the third quarter. Sales were unsurprisingly down in all market segments, but impairments close... Continue Reading →

Rise in profits: Technip chief executive Thierry Pilenko Anthony Guegel/Upstream Josh Lewis  27 October 2016 07:41 GMT Rise in net income comes despite a drop in revenue French engineering company Technip booked a 12.4% rise in third quarter net income while also increasing its full-year revenue guidance for its subsea division. Technip’s net income for... Continue Reading →

ANP director Chambriard: co-operation 'fundamental' to agency Reuters/Scanpix By Gareth Chetwynd in Rio de Janeiro  26 October 2016 20:26 GMT Brazil's National Petroleum Agency (ANP) has signed a memorandum of understanding with the UK Oil & Gas Authority aimed at promoting greater co-operation on regulatory questions. The MoU was signed during Rio Oil & Gas... Continue Reading →

Business friendly: head of Brazil's Investment Partnership Programme,"rio oil" Wellington Moreira Franco Agencia Ponto/IBP By Kathrine Schmidt in Rio de Janeiro  26 October 2016 20:39 GMT A key official in the administration of Brazilian President Michel Temer took the stage at Rio Oil & Gas to pledge support for oil and gas investment in Brazil... Continue Reading →

Subsea work: in sight for Aker DNV GL Steve Marshall  27 October 2016 07:20 GMT Aker Solutions has inked a pair of global framework agreements with BP to supply subsea production systems at new field projects to be developed by the British supermajor worldwide. The first five-year deal covers potential engineering, procurement and construction contracts... Continue Reading →

Statoil ASA, the first of the major oil producers to report third-quarter earnings, posted an unexpected loss for a second quarter in a row as maintenance and exploration expenses compounded the impact of lower crude and gas prices. The company also deepened spending cuts. The adjusted loss, which excludes financial and other items, was $261 million, compared... Continue Reading →

GE Oil & Gas: opportunities 'for the taking' in Brazil By Fabio Palmigiani in Rio de Janeiro  25 October 2016 22:32 GMT GE Oil & Gas has unveiled its next generation of flexible risers using carbon fibre thermoplastic materials, as the company continues to invest in the development of new technologies and applications for ultra-deep... Continue Reading →

Stena Carron: is still on location at Liza 3 Noah Brenner  26 October 2016 13:54 GMT A key appraisal of ExxonMobil’s large Liza oil discovery offshore Guyana was successful, further boosting the resource estimate for what was already the largest oil discovery of 2015, as the partners eye a project sanction next year. The drillship... Continue Reading →