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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 →
In an analysis of the oilfield service industry, sector intelligence firm Rystad Energy noted that the main driver of employment was shifting from shale to offshore. Rystad said on Tuesday that increased activity in onshore shale basins such as the Permian in the U.S. held employment in the oilfield service industry steady from 2016 to... Continue Reading →
July 29, 2019 The Special Bidding Commission approved international oil companies ExxonMobil, CNOOC, Petrobras and Shell, as well as Brazilian Enauta and PetroRio, to participate in the permanent offer of exploration and production areas. There are a total of 47 registered and 12 under review. The ANP also received five area nominations, all onshore. In... Continue Reading →
Transocean (RIG) came out with a quarterly loss of $0.34 per share versus the Zacks Consensus Estimate of a loss of $0.33. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.03%. A quarter ago, it was expected... Continue Reading →
July 29, 2019 – Petróleo Brasileiro S.A. - Petrobras announces the closing, on this date, of the secondary public offering of 393,187,500 common shares issued by Petrobras Distribuidora S.A (“BR”) and held by Petrobras (“Shares” and “Offer”), in the total amount of R$ 9,633,093,750.00. The value of the Offer already includes the full exercise of... Continue Reading →
U.S.-based EPCI company McDermott International booked a loss of $146 million for the second quarter of 2019, but the company is encouraged by its record-setting level of backlog. McDermott on Monday reported revenues of $2.1 billion for the second quarter of the year. In the same period last year, McDermott recorded revenues were $1.7 billion.... Continue Reading →
July 29, 2019 Between the end of this year and the first quarter of 2020, Enauta will launch the tender for the charter of the definitive Atlanta FPSO, a deepwater field located in the Santos Basin. The oil company has not yet decided on the size of the production unit, which will have between 50,000... Continue Reading →
Exxon Mobil Corp’s (XOM.N) plan to accelerate asset sales, a way of delivering needed cash to finance shareholder returns and major projects, is getting off to a slow start as oil companies pull back on big deals. On Friday, the largest U.S. oil company is expected to report a 79-cents-a-share profit, down from 92 cents... Continue Reading →
(Reuters) - Brazil’s closely-watched auction of offshore oil blocks looks “very expensive” and BP (BP.L) has yet to decide if it will take part in it, Chief Executive Officer Bob Dudley said on Tuesday. “These transfer of rights, the terms are not all out there, they look very expensive,” Dudley said on an analyst call.... Continue Reading →
A strong rise in oil and gas production helped BP (BP.L) offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares. BP’s second quarter contrasts with Total (TOTF.PA) and Norway’s Equinor (EQNR.OL), which posted sharp earnings drops, and builds on a steady recovery after deep cost cuts since... Continue Reading →
Brazil Energy Insight 