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Brazilian state-owned oil company Petrobras said on Thursday that some of its costs in a key oil-producing region plunged in the third quarter, a positive sign given that the company is making a huge bet on the region. In a securities filing announcing its third-quarter results, Petroleo Brasileiro SA, as the company is formally known,... Continue Reading →
Oct 24, 2019 With an eye on the development of the Carcará and Carcará Norte areas in the Santos Basin, Equinor engaged Seabed Geosolutions to run its first 3D seismic campaign with ocean-bottom nodes in the country. The campaign will cover an area of 410 km², in deep water. Mapping will begin in the second... Continue Reading →
The company’s net profit for the quarter was 523 million euros, down 66 percent from 1,5 billion euros in the third quarter of 2018. Adjusted net profit was 776 million euros, a 44 percent fall compared to 1,38 billion euros in the corresponding quarter of last year. Explaining the profit drop, Eni cited lower oil... Continue Reading →
Oct 24, 2019 (Reuters) - Germany’s Siemens expects revenue from its oil and gas division in Brazil in 2020 to double compared to 2018 levels, an executive said on Thursday, citing upcoming oil auctions that could total around $26 billion. The company does not disclose revenues by division but in 2018 it hit 4.1 billion... Continue Reading →
Oct 24, 2019 Petrobras, following up on the press release issued on September 13, 2019, reports the beginning of the non-binding phase related to the sale of downstream assets, which includes: Isaac Sabbá Refinery (REMAN) in Amazonas, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) in Ceará, and the Shale Industrialization Unit (SIX) in Paraná,... Continue Reading →
Oct 24, 2019 MESSAGE FROM THE CEO The company's performance in 3Q19 is already starting to reflect the implementation of our value creation strategy. Oil and gas production reached a record level of 3.0 MMboed in August, when a daily record of 3.1 MMboed was also reached. The ramp-up of the new platforms significantly influenced... Continue Reading →
Oct 24, 2019 Karoon will raise AUD 284 million (US $ 194.42 million) to complete financing for the acquisition of the Bauna field, located in block BM-S-40, in the Santos Basin. The operation also aims to support future projects of the company. According to Karoon director Robert Hosking, the measure represents the final stage of... Continue Reading →
Oct 23, 2019 Unionized workers at Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, said they will start a general strike on Saturday to press for higher wages as they negotiate a new contract. A group representing 12 oil worker unions said in a statement on Wednesday they were fighting for their rights and... Continue Reading →
GlobalData revealed that a total of 38 oil and gas discoveries were made globally in Q3 2019. South America and Europe led globally with the highest number of oil and gas discoveries during the third quarter (Q3) of 2019, with eight discoveries each during the quarter, according to GlobalData. Out of eight discoveries in South... Continue Reading →
Italian oil service group Saipem is pressing ahead with plans to find a partner for its drilling unit to focus on its core business of building offshore installations and pipelines, the company's chief said on Thursday. Saipem makes most of its revenues from its engineering and construction (E&C) unit but wants to keep exposure to... Continue Reading →
