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 →

Brazilian state-run oil firm Petroleo Brasileiro SA posted quarterly results that missed expectations on Tuesday, although management flagged a potential production boost in the second quarter as new platforms ramp up output. Petrobras, as the firm is known, posted a quarterly profit of 4.03 billion reais ($1.02 billion), down 42 percent from the same period... Continue Reading →

German engineering giant, Siemens AG, is carving out and listing its flagging gas and power division and cutting more than 10,000 jobs in a sweeping overhaul. The unit will be spun off into a separately managed company and listed by September 2020, according to a statement Tuesday. Siemens will retain “somewhat less than 50%” of... Continue Reading →

May 7, 2019 Company estimates to produce up to 500,000 barrels per day in Brazil in 2030 Equinor estimates it will produce between 300,000 and 500,000 barrels per day of oil and gas in Brazil by 2030. The information was released this Tuesday (7) by Equinor's vice president of Supply Chain in Brazil, Mauro Andrade,... Continue Reading →