Statoil ASA, Norway’s state-controlled oil producer, will cut as many as 2,000 more jobs by the end of next year as it reacts to lower crude prices by slashing costs. Read More

Joseph Sigelman, the founder and former chief executive of a Colombian oil field-services provider called PetroTiger, pleaded guilty to conspiring to pay bribes to an official of the Colombian national oil company in violation of the Foreign Corrupt Practices Act (FCPA). Or that's what the Justice Department emphasized in a triumphant-sounding press announcement listing no... Continue Reading →

OSX Brasil, currently in Chapter 11, surprises and reports a first quarter, 2015,  profit of R$ 168.9 million against a loss of R$ 2.42 billion for same period last year. Net operating revenue was R$ 275.1 million, a leap of approximately 133% in comparison to last year. Big surprise.

Sikorsky’s operating profit will be down as much as $125 million on lower deliveries to the oil-and-gas industry. “We’ll have the decision on spin versus sale done, I think, in about 60 days -- probably by the end of July,” Chief Executive Officer Gregory Hayes told investors on a conference call at the Paris Air... Continue Reading →

Brazil's ANP plans to publish the 13th Oil Rights Auction Tender by Aug 6th. The oil authority plans to keep present local content rule but some politicians and the oil industry are hoping that the authority will rethink the issue and be more flexible. The fear is that if the local content rule is not... Continue Reading →

June 12, 2015 Latest local press report says that a group of Asian investors are negotiating a U$1.2 billion capital infusion. Not clear whether this will dilute existing shareholders but creditors have agreed. Since some shareholders are also large creditors gives some credibility but still the news are tenuous at best. The report says that... Continue Reading →

Senator Jose Serra of the opposition PSDB party. Photographer: Amauri Nehn/News Free/LatinContent/Getty Images Senators of Brazil’s largest party expect the upper house to approve a bill that relieves state-controlled Petrobras of its role as sole operator and compulsory stakeholder in so-called pre-salt oilfields. Read More

09/06/2015 The National Energy Policy Council (CNPE) published on JUNE 9, 2015 in the Official Gazette, Resolution No. 1/2015, which authorizes ANP, National Petroleum Agency, to hold the 13th Bidding Round of Exploratory Blocks . There will be offered 266 exploration blocks, totaling an area of 125,045.9 square kilometers. The Council also approved the inclusion... Continue Reading →

Low oil prices and economic growth have helped drive up consumer demand for energy across the world in 2015. The IEA said world demand for oil would increase 1.4 million barrels a day this year, 300,000 barrels a day faster than it previously forecast, to a daily average of 94 million barrels this year. Read... Continue Reading →

Pemex discovered four new fields in shallow water in the Gulf of Mexico with the potential for daily production of at least 200,000 barrels of oil and 170 million cubic feet of gas. Read More