Brought to you by Quest Offshore & Southern Cone Consultants
McDermott said on Friday it was formally notified by the NYSE that the average closing price of the company’s shares of common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average share price for continued listing on the NYSE. McDermott’s stock last closed above... Continue Reading →
Announcing the delivery on Friday, Keppel said that, as part of the deal, Grupo R had entered into a sale and leaseback arrangement for the rig with a wholly-owned subsidiary of Keppel O&M. Keppel O&M will purchase the rig from Grupo R for about $190m which is the balance contract value of the rig. Keppel... Continue Reading →
As the world transitions to a less carbon-intensive future, Norwegian energy intelligence firm Rystad Energy forecasts that the global inventory of already discovered oil fields with a breakeven oil price of below $60 Brent (real) is sufficient to meet demand growth and offset declines from maturing fields until around 2027. From that point on, however,... Continue Reading →
Dec 6, 2019 The chief executive of Brazilian state-run oil firm Petroleo Brasileiro SA said on Friday it was too early to commit to a climate target and that energy companies had a range of thoughts on the matter. Asked if the firm would match a pledge similar to Spanish energy group Repsol's this week... Continue Reading →
Barring additional oil production cuts by OPEC in 2020, Norwegian energy intelligence company, Rystad Energy, forecasts a substantial build of global crude stocks and a corresponding drop in oil prices. A showdown is taking place in Vienna as OPEC countries plus Russia will gather in the Austrian capital on 5-6 December to discuss oil output... Continue Reading →
December 2, 2019 – Petróleo Brasileiro S.A. – Petrobras announces that it has started the opportunity disclosure stage, referring to the sale of its interest in the onshore fields of Dó-Ré-Mi and Rabo Branco, belonging to the BT-SEAL-13 Concession, located in the SergipeAlagoas Basin. The teaser, which contains key information about the opportunity, as well... Continue Reading →
The U.S. solidified its status as an energy producer by posting the first full month as a net exporter of crude and petroleum products since government records began in 1949. The nation exported 89,000 barrels a day more than it imported in September, according to data from the Energy Information Administration Friday. While the U.S.... Continue Reading →
Brazil has experienced a tremendous spurt in crude oil production, propelled by the development of its pre-salt resources. However, taking Brazil’s oil production to its current level certainly didn’t come cheap. Petrobras has paid over 78% of Brazil’s $396 billion bill for exploration (excluding dry well costs), development and operations from 2010 to 2018. This,... Continue Reading →
Brazilian oil company Petroleo Brasileiro SA on Thursday trimmed its oil and gas production outlook for next year, weighing on its shares despite more ambitious long-term output forecasts in its new five-year strategic plan. Petrobras, as the state-run firm is known, aims to produce 2.2 million barrels of oil per day (bopd) next year, below... Continue Reading →
Malaysia's state energy firm Petroliam Nasional Bhd said on Tuesday its third-quarter profit nearly halved due to lower demand and impairment charges, and warned of further risks to demand. Profit for the July-September period at Petronas, as the company is better known, dropped to 7.4 billion ringgit ($1.77 billion) from 14.3 billion ringgit a year... Continue Reading →
Brazil Energy Insight 