Brought to you by Quest Offshore & Southern Cone Consultants
July 31, 2019 Petrobras and Equinor plan to reach the pre-salt of the Espírito Santo Basin with the drilling of the Monai prospect in block ES-M-669. According to the companies, the campaign will be fundamental for them to evaluate the exploration of other concessions acquired in the 11th round of the ANP, which, so far,... Continue Reading →
July 31, 2019 Brazil is on track to be one of the world's leading oil producers over the next 10 years, Felipe Kury, director of the National Petroleum, Natural Gas and Biofuels Agency. The challenge "is to have this plurality of actors and various environments," said Kury. For him, this is "an incredible moment" for... Continue Reading →
In a one-sentence statement issued on Wednesday, CHC said: “We have retained the services of Paul, Weiss, Rifkind, Wharton & Garrison LLP to explore merger and acquisition opportunities across the space.” Apart from looking at mergers and acquisitions, CHC is looking for a new CEO. Namely, the current CEO Karl Fessenden last week announced his... Continue Reading →
Siemens (SIEGn.DE) said on Thursday deteriorating demand from automotive and machine building firms hit its third-quarter profit, becoming the latest industrial company to warn about a weaker environment hitting its business. The company’s flagship factory automation unit saw orders and revenue fall as customers in Europe and the Americas held back on investments as economies... Continue Reading →
Royal Dutch Shell’s second-quarter profit slumped to a 30-month low due to weaker gas prices and refining margins, falling far short of expectations and denting a steady recovery in recent years. Shares of the Anglo-Dutch company fell 4.2% as trading opened in London, compared with a 0.3% decline in London’s FTSE 100 index. Shell, the... Continue Reading →
Brazil’s central bank cut its benchmark interest rate to a new low of 6.00% on Wednesday, an aggressive first move in a widely anticipated easing cycle to inject life into a moribund economy and prevent inflation from slipping too far below target. The reduction from 6.50% was the central bank’s first rate cut since March... Continue Reading →
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 →
Brazil Energy Insight 