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DOF Subsea, a subsidiary of DOF Group, reported profit in the second quarter of 2019 of NOK 14 million ($1.5 million), compared to loss of NOK 292 million ($32.4 million) in the corresponding period in 2018. Year-to-date result for 2018 came out negative, with loss of NOK 10 million ($1.1 million), against loss of NOK... Continue Reading →
Brazil’s federal police on Friday raided the headquarters of Latin America’s largest independent investment bank, Banco BTG Pactual SA (BPAC3.SA), and the addresses of its founder Andre Esteves, federal prosecutors said in a statement. Maria das Gracas Foster, former chief executive of state-controlled oil company Petroleo Brasileiro SA (PETR4.SA), was also a target, the statement... Continue Reading →
August 22, 2019 Reate 2020, which will be launched today, the goal is to increase production from 270,000 to 500,000 barrels per day by 2030. The shock of cheap energy promised by the Minister of Economy, Paulo Guedes, will include the revitalization of oil and gas production in land fields. Reate 2020 - Program for... Continue Reading →
Gas Natural Açu, Prumo’s subsidiary, draws on US$750 million project financing for 1.3GW first phase of LNG-to-power complex Second phase of project underway, making the GNA complex the largest infrastructure project in Brazil and a key enabler of the Brazilian new gas market (“Novo Mercado de Gás”) Pedro Parente, Ieda Gomes and Franklin Feder join... Continue Reading →
The UK-based oil firm is operating the project with a 60 percent stake, with the remaining 40 percent currently held by Rockhopper exploration. The company has been in talks to secure a loan to fund the development of the first phase of the 250 mmboe (gross) of resource in Phase 1 of the Sea Lion... Continue Reading →
Rosneft PJSC’s second-quarter net income fell as the Russian giant suffered the effects of weaker oil prices and production cuts, but the decline was less severe than analysts expected. While the results show the impact on Rosneft of the Druzhba crisis, in which millions of barrels of exports to central Europe via the Soviet-era pipeline... Continue Reading →
Offshore drilling contractor Seadrill posted a net loss of $206 million in the second quarter of 2019, compared to a net loss of $432 million in the second quarter of 2018. Adjusted EBITDA for the second quarter was $69 million which was higher than Seadrill’s guidance of $55 million primarily due to the timing of... Continue Reading →
Offshore services firm Subsea 7 is calling for experienced engineers from all sectors to apply for the company’s Engineering Conversion Programme and potentially earn a job in the offshore oil and gas industry. According to Subsea 7, since 2005, the company’s Engineering Conversion Programme has enabled experienced engineers from aerospace to automotive, and onshore construction... Continue Reading →
Aug 20, 2019 Eneva and Alvopetro began drilling new wells last week, according to the ANP. Both campaigns are carried out in blocks contracted in the 13th round of bids of the agency. Eneva drills the 1ENVBL69GMA with the Great Solutions Oil 120 rig in the PN-T-69 block in the Parnaíba Basin. The company plans... Continue Reading →
Aug 20, 2019 Abespetro is preparing the election of its new board. There will be six members, one CEO and five directors, with a two-year term starting January 1, 2020. Unlike in previous elections, this time most current directors should not attempt reelection. Sources in the association anticipate that of the six executives, five have... Continue Reading →
Brazil Energy Insight 