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Police in Brazil on Thursday arrested Eike Batista, the charismatic mining and oil magnate who was once Brazil’s richest man, on suspicion of money laundering and “capital market manipulation.” In a statement, police said they arrested the eccentric former billionaire at his home in Rio de Janeiro. They were also seeking to arrest one other... Continue Reading →
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador reports its consolidated financial results for the three-month period ended June 30, 2019 (“Second Quarter” or “2Q2019”). A conference call to discuss... Continue Reading →
SBM Offshore 2019 Half-Year Earnings August 8, 2019 Highlights US$6.3 billion order intake year-to-date, driving a 36% backlog increase Contracted cash flow from Lease and Operate fleet provides visibility up to 2045 Four major projects under execution in Turnkey, including three FPSOs, of which two based on Fast4Ward® 2019 Directional[1] revenue guidance increased to “above... Continue Reading →
Saipem and SEKO have signed a collaboration agreement aimed at the design and industrialization of an innovative subsea metering pump. According to Saipem’s social media update, the subsea metering pump will operate in extreme working conditions. Continue reading
Oil services company Archer returned to profit in the second quarter of this year from a loss in the same period last year. Archer posted a net income of $3.5 million for the second quarter of 2019 compared to a loss of $7.4 million in the prior-year quarter. The company’s revenues increased to $235.6 million... Continue Reading →
U.S.-based oil and gas company Talos Energy bounced back to the black in the second quarter of 2019 on the back of higher revenues boosted by record production levels. Talos on Wednesday posted a net income of $94.8 million for the second quarter of 2019 compared to a loss of $75 million in the same... Continue Reading →
Valves (PJV), the specialist manufacturer and supplier of valves for the global energy industry, has been awarded three significant FPSO valve contracts for projects in Brazil, Mexico and Nigeria. In Brazil, PJV will manufacture and supply valves to a project located in the Santos Basin. The company will deliver a range of globe and check... Continue Reading →
Brazil’s lower house of Congress early on Wednesday approved the text of a far-reaching pension reform bill in a second round of voting, and eyed finalizing all deliberations on the bill by the end of the day, as the central economic reform of President Jair Bolsonaro’s administration steadily advances. The text had already been approved... Continue Reading →
Aug 7, 2019 The ANP approved the extension of the drilling decision point deadline and the deadline of the Discovery Evaluation Plan (DEP) of well 1-BRSA-1175-CES (Tango), in the POT-M-665 block, in deep waters in the Potiguar Basin, on the Brazilian equatorial margin. The discovery well drilling was conducted by Diamond Offshore's semi-submersible Ocean Courage.... Continue Reading →
Aug 7, 2019 The state-owned Pre-Salt Oil company, PPSA, has made available three more modules of the Oil Production Sharing Expenditure Management System for pre-salt field operators. The digital system allows online tracking of all documentation concerning a series of information on the operation of the contracts, which provides for the transfer of part of... Continue Reading →
