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The worldwide offshore rig count in July 2019 went up by 10 units compared to June, and 45 year over year, according to monthly rig count reports by Baker Hughes, a GE company. BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. The worldwide offshore... Continue Reading →
Occidental Petroleum is selling bonds to help finance its $38 billion acquisition of Anadarko, as debt issuers show faith in Tuesday’s market rebound. Occidental is selling bonds in as many as 10 parts, according to a person with knowledge of the matter. The longest portion of the offering, a 30-year security, may yield 2.7 percentage... Continue Reading →
Saipem-Sonsub’s Hydrone-R underwater intervention drone was recently launched in water to start the endurance and qualification tests prior to its commercialisation by year’s end. The Hydrone Program is the key workstream of Saipem’s Technology Development Plan within subsea robotics; a strategic move aimed at changing the paradigm of underwater inspections and interventions via a fleet... Continue Reading →
Aug 6, 2019 Rio de Janeiro's new natural gas regulatory framework is expected to be "fully in place" within a few days, state oil and gas deputy secretary Cristina Pinho said on Monday. “We have been surgical at some points to make a strong connection with the changes being made by the federal government. In... Continue Reading →
August 5, 2019 Petróleo Brasileiro S.A. - Petrobras reports that its Executive Board has approved revision of its LPG pricing policy for residential use, sold for bottling in cylinders of up to 13 kg, including smaller capacity cylinders, such as 5 kg and 8 kg, which meet the demand for lower volumes. Prices charged by... Continue Reading →
Aug 5, 2019 Diamond Offshore Drilling (DO) came out with a quarterly loss of $0.99 per share versus the Zacks Consensus Estimate of a loss of $0.89. This compares to loss of $0.33 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -11.24%. A... Continue Reading →
San Jose-based Deep Ocean Engineering (DOE) has announced the addition of a new type of remotely operated vehicle (ROV) to its product line, the Phantom X8. This electric, light work-class, vehicle is the largest and most heavy-duty ROV manufactured by DOE and packs a robust design for deep sea maneuverability and power. Deep Ocean Engineering... Continue Reading →
The world’s biggest oil companies have been steadily shifting investments toward natural gas, driven by an emerging globally traded market and environmental concerns. But right now they’re taking a hit as prices tank. Supermajor energy producers -- Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., Total SA and BP Plc -- saw a steep... Continue Reading →
Exxon Mobil Corp (XOM.N) reported a 21% drop in quarterly profit on Friday, hit by weaker natural gas prices, lower refining profits and a loss in its U.S. chemicals business. The largest U.S. oil producer’s net income fell to $3.13 billion, or 73 cents per share, in the second quarter, from $3.95 billion, or 92... Continue Reading →
Offshore drilling contractor Noble Corporation reduced its quarterly loss as its revenues grew during the second quarter of 2019, but the company was affected by a charge related to the Paragon Offshore spinoff. Noble on Thursday reported a net loss attributable to the company for the second quarter 2019 of $152 million, on total revenues... Continue Reading →
Brazil Energy Insight 