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 →
Petrobras approves revision of LPG pricing policy
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 →
Diamond Offshore Drilling (DO) Reports Q2 Loss, Lags Revenue Estimates
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 →
Deep Ocean Engineering Rolls Out New Work-Class ROV
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 →
Big Oil’s Big Bet on Natural Gas Has Been a Big Headache
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 profit sinks on weakness in natural gas, chemicals, refining
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 →
Noble Corporation narrows second quarter loss
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 →
Record production volumes lift Chevron profit
Oil major Chevron Corporation saw an increase in its quarterly earnings boosted by record production volumes driven by growth in the Permian Basin and at Wheatstone in Australia. Chevron on Friday reported earnings of $4.3 billion for second quarter 2019, compared with $3.4 billion in the second quarter of 2018. Included in the current quarter... Continue Reading →
MODEC Develops “MODEC NOAH™” and “M350™” Next Generation New Built FPSO Hulls
August 2, 2019 - Tokyo MODEC, Inc. is pleased to announce that it has developed the "MODEC NOAH" and "M350", next generation new built hulls for Floating Production Storage and Offloading (FPSO) vessels utilizing its extensive knowledge, experience and proven successes in engineering, construction, operations and maintenance of FPSOs as a leading company in... Continue Reading →
Brazil’s Camargo Correa inks 1.4 bln reais leniency deal with government
July 31, 2019 The Comptroller General of the Union (CGU) and the Attorney General of the Union (AGU) signed a leniency agreement with Camargo Corrêa, investigated by the Lava Jato. The company will have to pay the injured entities and the Union the amount of R $ 1,396 billion by January 2038. The amount involves... Continue Reading →
