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July 25, 2019 In an interview, the company's CEO Tim Hosking details plans for Bauna, Neon and Goia and confirms intention to expand presence in the country. Almost three years after the injunction that suspended Karoon's purchase of the Baúna field, the Australian oil company was finally able to acquire its first production asset in... Continue Reading →
Italian oil and gas company Eni saw its profit drop by 66% in the second quarter 2019 when compared to the same period last year. Eni reported on Friday that its adjusted operating profit for 2Q 2019 was €2.28 billion, down by 11% q-o-q and adjusted operating profit of €2.56 billion. Excluding the impact of... Continue Reading →
July 25, 2019 Compared to other countries and other infrastructure sectors (such as electricity, for example), the oil and gas sector makes little use of project finance and other domestic capital market instruments to finance itself, making capital investment more common by the shareholders of the concessionaires. However, this reality may change. After years... Continue Reading →
July 24, 2019 Wellbore Integrity Solutions (WIS) has applied to the CADE for authorization to acquire three Schlumberger businesses: Drilco (pipeline), Thomas Tools & Tubular Rental (tool rental and drill pipe) and Fishing & Remedial (equipment for debris removal in wells). The merger was published on Wednesday (24/7) in the Official Gazette. In the amount... Continue Reading →
July 24, 2019 ExxonMobil began the first technical visits to some of the rigs offered in its bid for chartering a drilling unit. The oil company's preliminary list includes at least five drillships: Ensco's DS-9, Constellation's Amaralina Star and Brava Star, and Seadrill's West Tellus and West Saturn. The vessels were offered at the best... Continue Reading →
July 24, 2019 The ANP is working to include deepwater assets in the permanent offer regime, the agency's managing director, Dedio Oddone, said on Wednesday. Among them are the Piranema field, which is part of Petrobras' divestment plan, and Moréia, returned by the state company to the ANP. During the inauguration of a robot for... Continue Reading →
Oceaneering has reported a net loss of $35 million, or 36 cents per share, for the three months ended June 30, 2019. The result compares with net loss of $33 million same time last year. During the prior quarter ended March 31, 2019, Oceaneering reported a net loss of $25 million, or 25 cents per... Continue Reading →
Italian oilfield services player Saipem has reported first-half 2019 profit of €14 million on revenues of €4.5 billion. This result compares to net loss of €323 million on revenues of €3.8 billion for prior-year comparable period. Adjusted result was net profit of €60 million, against €6 million in 1H 2018. Saipem reported first-half 2019 EBITDA... Continue Reading →
Helix Energy Solutions has reported net income of $16.8 million, or $0.11 per diluted share, for the second quarter of 2019 compared to $17.8 million of $0.12 for the same period in 2018. Quarterly revenues fell from $205 million in Q2 2018 at $202 million. Net income for the six months ended June 30, 2019... Continue Reading →
Engineering and construction specialist Subsea 7 has seen its profit cut in the quarter ended June 30, 2019 as activity drop continues in renewables and heavy lift business units. The Oslo-listed firm posted quarterly profit of $24 million, or $9 cents per diluted share, on revenue of $958 million, versus profit of $74 million, or... Continue Reading →
Brazil Energy Insight 