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WFS Technologies has expanded into Houston and Brazil as the company continues to meet its growth objectives for 2019. Molly Reyes, Energy Industry sales director, joins the WFS senior leadership team to lead the new office and explore opportunities in the Gulf of Mexico and North American territories. Continue reading
Police in Rio de Janeiro arrested 43 people on Thursday for allegedly taking part in a murderous gang that extorted companies providing services to state-run oil company Petrobras and established a secret cemetery where it disposed of rivals. The arrests underline the growing power of militias in and around South America’s third largest city, comprised... Continue Reading →
Oil companies are under increasing pressure to bring fuel to market faster and cheaper, leading BP to conclude some of its resources “won’t see the light of day,” according to its head of strategy. Some of the “more complicated to extract” resources in the British oil major’s portfolio may have to be sold or stay... Continue Reading →
With nearly 60 offshore rigs, China is doing everything it can to boost oil and gas production. And the country’s energy independence policy is keeping rig supply out of the global market. Sudden demand from a wide range of places has driven up offshore rig utilization. Continue reading
UK-based offshore drilling contractor EnscoRowan announced that it will change its name to Valaris, effective July 31, 2019. The London-headquartered firm said in a stock exchange announcement that its ordinary shares will trade under the new ticker symbol VAL following its name change. Continue reading
Brazilian police have raided offices of Estaleiro Jurong Aracruz Ltda (“EJA”), a Brazilian subsidiary of Singapore’s offshore rig builder Sembcorp Marine. n a Singapore Exchange filing, SembCorp Marine said the search warrant the Brazilian authorities were executing was related to the “Operacao Lava Jato” (Operation Car Wash) in Brazil, which is a years-long investigation into... Continue Reading →
The worldwide offshore rig count in June 2019 dropped by 9 units compared to May, but it was up 56 compared to June 2018, according to monthly rig count reports by Baker Hughes, a GE company. BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count.... Continue Reading →
For the oilfield services industry, it’s no longer about merely navigating a downturn. It’s now about survival. Five years after crude began its plunge to less than US$30 a barrel from more than US$100, the companies that drill and frack wells are living in a new world. The producers they work for have become increasingly... Continue Reading →
The oilfield services company Weatherford International filed for Chapter 11 bankruptcy protection Monday, after struggling to assimilate the companies it bought during a quest for growth, taking on too much debt and fighting to recover from falling oil prices in 2014 that hammered the energy industry. Weatherford, which got its start in 1941 and had... Continue Reading →
U.S. oil giant ExxonMobil has been named the upstream industry’s most admired explorer, according to Wood Mackenzie. The energy intelligence group said that the accolade was awarded in conjunction with its annual Exploration Survey. Mike Cousins, ExxonMobil’s SVP of exploration and new ventures, accepted the award at the second Wood Mackenzie Exploration Awards ceremony, held... Continue Reading →
Brazil Energy Insight 