Norwegian seismic giant TGS is set to acquire its rival Spectrum. The deal would, TGS says, create a leading provider of 2D and 3D seismic data. The two companies have agreed on the terms of the transaction which is s expected to be completed as a statutory merger pursuant to Norwegian corporate law between TGS... Continue Reading →

Norwegian oil and gas giant Equinor recorded an increase in its first quarter 2019 profit as its production remained on par with the same period in 2018. Equinor on Friday reported adjusted earnings of $4.19 billion in the first quarter 2019, down from $4.41 billion in the same period in 2018. Adjusted earnings after tax... Continue Reading →

Several major Occidental Petroleum Corp shareholders have voiced opposition to the oil company’s $38 billion bid for rival Anadarko Petroleum Corp that now includes a pricey financing deal with billionaire Warren Buffett Occidental and Chevron Corp are battling for Anadarko and its holdings of nearly a quarter million acres in the Permian Basin, the top... Continue Reading →

C-Kore Systems has welcomed Diego Baraldi to the company to represent C-Kore as sales manager – South America. Diego has over 15 years of experience in the offshore oil & gas sector, starting his career with Halliburton as field engineer and then working for Lupatech as business development manager. For the past 6 years Diego... Continue Reading →

UK subsea engineering, construction and services company Subsea 7 recorded a loss during the first quarter of the year while its revenues increased driven by its SURF and Conventional business unit. Subsea 7’s net loss remained nearly flat totaling $19 million in the first quarter 2019 compared to the net loss of $18 million in... Continue Reading →

Oil major Shell on Thursday reported $5.4 billion earnings on a CCS basis, excluding identified items for the first quarter of 2019. This is a two percent drop compared to the first quarter of 2018, but still, a better result than analysts expected. Shell said the result reflected lower realized chemicals and refining margins, decreased... Continue Reading →

Rio de Janeiro, May 1, 2019 - Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 01/30/2019, informs that it has completed, through its subsidiary Petrobras America Inc. (PAI), the sale to Chevron USA Inc. (Chevron) of 100% of its shares in the companies that encompass Pasadena's entire refining operations system in... Continue Reading →

Petroleos Mexicanos swung to a 35.7 billion peso ($1.84 billion) net loss during the first quarter as revenues and crude output at the heavily-indebted Mexican state oil company fell, results posted to the stock exchange showed on Tuesday. Revenues at Pemex were 356.3 billion pesos during the January-March period, down 10.4 percent from 397.4 billion... Continue Reading →

Norwegian oilfield services provider Aker Solutions recorded an increase in its quarterly profit and revenues driven by high activity levels. Looking ahead, Aker Solutions expects an increase in energy demand. Aker Solutions recorded an increase in its first quarter 2019 net income which totaled NOK 149 million ($17.2M) compared to NOK 105 million ($12.1M) in... Continue Reading →

Oil and gas companies DEA and Wintershall have completed the previously announced merger agreement, creating Wintershall Dea, a company deemed the largest independent exploration and production company in Europe. In a joint statement on Wednesday, BASF (parent company of Wintershall) and LetterOne (parent company of DEA) said that Wintershall Dea would be managed by an Executive... Continue Reading →