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Occidental Petroleum Corp, which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% fall in core profit on Wednesday, as higher crude prices and volumes were offset by adjustments to derivatives contracts and lower natural gas prices. Core income fell to $729 million, or 97 cents per... Continue Reading →
The Federal Reserve cut interest rates on Wednesday to shore up the economy against risks including global weakness, but the head of the U.S. central bank said he did not view the move as the start of a lengthy series of rate cuts. Continue reading
Oilfield services provider Halliburton has announced the execution of an integrated services contract with Petrobras for Libra pre-salt development in the Santos Basin offshore Brazil. Halliburton said on Wednesday that the two-year and six month contract would provide drilling and completion services to drive greater efficiency by applying pre-salt expertise and integrating multiple product offerings... Continue Reading →
Singapore’s vessel and rig builder Sembcorp Marine reported a net loss of $9.3 million in the second quarter of 2019, citing continued low overall business volume, and posting a disappointing order intake in the first half of the year. While posting a quarterly loss, this is an improvement compared to a loss of $56,5 million... Continue Reading →
The Wilson Sons Group completed another tugboat of its escort tug series on the 19th of July, the WS Aries, which now joins the WS Sirius as the most powerful in Brazil. Built by Wilson Sons Estaleiros and designed by Damen Shipyards, the vessel has a LOA of 32 meters and a beam of 12 meters. “This... Continue Reading →
Baker Hughes, General Electric Co's oilfield services arm, reported a better-than-expected quarterly profit on Wednesday, helped by higher activity in LNG markets and rise in international demand for oilfield services. Revenue from the company's oilfield services segment, which constitutes a majority of its operations, rose 14% to $3.26 billion in the second quarter. Continue reading
July 30, 2019 BP Energy is taking a cautious approach to the Transfer of Rights Surplus auction. Speaking to analysts on Tuesday, CEO Robert Dudley said the company has not yet decided whether to try to bid for any of the four areas to be offered in November. “[Assets] seem very expensive, and we will... Continue Reading →
Fugro is looking to sell its stake in Seabed Geosolutions, a joint venture company with French seismic player CGG. The Dutch subsea and survey specialist said it has stepped up its efforts, in consultation with its co-shareholder, to divest its 60 per cent interest in ocean bottom seismic specialist formed in 2013. Continue reading
July 30, 2019 The ANP sees no reason for the 2019 bidding calendar to be revised, regulator Felipe Kury director said Tuesday during the 6th round of sharing and 16th round of concessions technical seminars. The statement was made in reference to questions from the Federal Court of Account (TCU) about this year's auction schedule.... Continue Reading →
Surging numbers of orders for floating production, storage and offloading vessels (FPSO) may already be straining the supply chain, including shipyards in Asia, a report out of the United States suggests. Around two dozen FPSO contracts are about to enter “decision gate”, and final investment decisions (FID) on these could yield more contracts than the... Continue Reading →
Brazil Energy Insight 