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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 →
July 29, 2019 ANP estimates Brazil could triple daily output over next decade and double proven reserves In addition to including new areas for oil and gas exploration in the auctions to be held in the coming years, the government wants to accelerate the ongoing bids to increase investments in the sector. According to estimates... Continue Reading →
YPF announced today that a preliminary agreement was reached with Excelerate Energy for the charter of an LNG carrier, which will export Argentina’s excess LNG to the global natural gas market. Both parties will be executing the final agreement in the coming days, with the objective of starting operations the first week of September. "We... Continue Reading →
Dutch Heerema Fabrication Group has performed the last roll-up of the jacket structure for Equinor’s Peregrino C platform – to be installed at a location offshore Brazil – at its Vlissingen yard in the Netherlands. The Equinor-operated Peregrino oil field is located in licenses BM-C-7 and BM-C-47, approximately 85km offshore Brazil, in the Campos basin,... Continue Reading →
Anadarko Petroleum Corp (APC.N), in its last earnings report before shareholders vote on its sale to Occidental Petroleum (OXY.N), on Friday reported a quarterly profit that topped analysts’ estimates, as higher production offset lower prices for its oil. It reported a net loss on a $1 billion breakup fee paid to Chevron Corp (CVX.N). Anadarko... Continue Reading →
Weatherford announced a contract win with a Colombia, South America operator to migrate seven LOWIS sites, comprising 3,000 wells, to the Company's ForeSite Production Optimization software platform. Under the newly signed contract, the company will provide all maintenance and services for the software platform for five years, as well as all technical and production services... Continue Reading →
Brazil Energy Insight 