Brought to you by Quest Offshore & Southern Cone Consultants
Aug 2, 2019 Petrobras President Roberto Castello Branco said that the company is reviewing its strategic plan and expects to announce to the market the new strategy in November. He pointed out that the plan will focus on cost reduction. "We want to bridge the gap that separates us from our peers," he said in... Continue Reading →
Exxon Mobil Corp (XOM.N) reported a 21% drop in quarterly profit on Friday, hit by weaker natural gas prices, lower refining profits and a loss in its U.S. chemicals business. The largest U.S. oil producer’s net income fell to $3.13 billion, or 73 cents per share, in the second quarter, from $3.95 billion, or 92... Continue Reading →
RigNet, a global provider of communications solutions for the offshore oil and gas industry, has signed two multi-year agreements with offshore drilling contractor Transocean. Under the two agreements, RigNet will provide rig analytic applications through Intelie Live, the company’s real-time analytics platform, to help improve operational integrity and efficiency. The company also introduced its first... Continue Reading →
Deepwater oil and gas developments can compete with shale, energy intelligence groups Wood Mackenzie has said following Shell’s FID for the PoweNap project in the Gulf of Mexico on Thursday. As Offshore Energy Today reported on Thursday, Shell will develop the PowerNap deepwater oil development as a subsea tie-back to its Olympus production hub, which... Continue Reading →
Offshore drilling contractor Noble Corporation reduced its quarterly loss as its revenues grew during the second quarter of 2019, but the company was affected by a charge related to the Paragon Offshore spinoff. Noble on Thursday reported a net loss attributable to the company for the second quarter 2019 of $152 million, on total revenues... Continue Reading →
Oil major Chevron Corporation saw an increase in its quarterly earnings boosted by record production volumes driven by growth in the Permian Basin and at Wheatstone in Australia. Chevron on Friday reported earnings of $4.3 billion for second quarter 2019, compared with $3.4 billion in the second quarter of 2018. Included in the current quarter... Continue Reading →
August 2, 2019 - Tokyo MODEC, Inc. is pleased to announce that it has developed the "MODEC NOAH" and "M350", next generation new built hulls for Floating Production Storage and Offloading (FPSO) vessels utilizing its extensive knowledge, experience and proven successes in engineering, construction, operations and maintenance of FPSOs as a leading company in... Continue Reading →
August 1, 2019 Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held today, approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total gross amount of R$ 2,608,840,252.20, corresponding to R$ 0.20 per outstanding common and preferred share. The payment will be made on... Continue Reading →
Petrobras had a good financial performance in 2Q19, although we benefited from external factors beyond our control, such as oil prices, the BRL/USD exchange rate and crack spreads, and non-recurring events, such as assets divestments. Accounting net income excluding non-recurring factors was R$ 5.2 billion and operating cash flow reached R$ 20.5 billion. Advances in... Continue Reading →
July 31, 2019 The Comptroller General of the Union (CGU) and the Attorney General of the Union (AGU) signed a leniency agreement with Camargo Corrêa, investigated by the Lava Jato. The company will have to pay the injured entities and the Union the amount of R $ 1,396 billion by January 2038. The amount involves... Continue Reading →
