Oil and gas production at Petroleo Brasileiro SA is on the rise, executives said on Wednesday, telling analysts that the company was on course to hit its annual production target despite lagging output in the first three months of the year. In a call with analysts following the release of first-quarter results, Petrobras Exploration and... Continue Reading →

U.S. oil major Chevron will not be increasing its initial bid for the takeover Anadarko and expects the previously agreed deal to be terminated as Anadarko has entered into takeover talks with Oxy which recently submitted a superior offer. Chevron on Thursday said that “under the terms of its previously announced Merger Agreement with Anadarko... Continue Reading →

DNV GL is urging offshore oil and gas operators to implement a new solution using floating wind turbines to power water injection for oil recovery. ‘WIN WIN’ (WINd powered Water INjection) was conceived in 2013 by DNV GL and is now ready for prototype development after two joint industry projects have shown the concept to... Continue Reading →

Petroleo Brasileiro SA’s shares rallied on Wednesday as investors disregarded weaker-than-expected first-quarter results and bet on robust oil production growth and debt reduction going forward. Shares rose as much as 4.3 percent in Sao Paulo, the biggest intraday gain in almost three weeks. While production stoppages hurt production in the first quarter, the state-controlled company... Continue Reading →

(Reuters) - Royal Dutch Shell PLC has plans to invest about $2 billion per year in Brazil through 2025, CEO Ben van Beurden told newspaper Valor Econômico in an exclusive interview. Its investment plans could be increased to allow the company to bid in three upcoming oil and gas auctions, Valor reported in its Thursday... Continue Reading →

  08/05/2019 Porto Açu and the Chinese port of Guangzhou today signed a Cooperation Agreement that aims to share best practices and knowledge on port operation and management, as well as strengthening cooperation in investment and business development. The agreement enables the creation of a strategic relationship between ports, contributing to the exchange of innovative... Continue Reading →

Petrobras has halved well construction time in the Búzios field, with a 25% reduction in underwater costs. The Company presented efficiency gains with the use of new technologies in the pre-salt Petrobras presented to the market its plans for the use of new technologies and digital transformation to increase efficiency in the production of oil... Continue Reading →

The worldwide offshore rig count in April 2019 increased by 5 units sequentially and by 62 rigs year-over-year, according to monthly rig count reports by Baker Hughes, a GE company (BHGE). BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. Baker Hughes said in on... Continue Reading →

Oceaneering International has ordered hybrid navigation systems from Sonardyne for its subsea resident vehicles Freedom and E-ROV.  The two resident vehicle systems are to be fitted with Sonardyne’s SPRINT-Nav an all-in-one navigational instrument. SPRINT-Nav combines a SPRINT INS sensor, Syrinx 600 kHz DVL (Doppler velocity log) and a high accuracy intelligent pressure sensor in a... Continue Reading →