U.S. oil major ConocoPhillips reported an increase in its quarterly earnings on the back of higher output when compared to the prior-year period.  ConocoPhillips on Tuesday reported first-quarter 2019 earnings of $1.8 billion compared with first-quarter 2018 earnings of $0.9 billion. Excluding special items, first-quarter 2019 adjusted earnings were $1.15 billion compared with first-quarter 2018... Continue Reading →

Offshore driller EnscoRowan has nabbed eight rig contracts and contract extensions with the likes of Total, Kosmos, NAM, Neptune Energy and others. In a fleet status update on April 29, the company, formed earlier this month after a merger between Ensco and Rowan, said it had secured work for three floaters and five jack-ups. In... Continue Reading →

 4/28/2019 World Oil HOUSTON (Bloomberg) -- It’s becoming increasingly difficult for Anadarko Petroleum Corp. to justify sticking with Chevron Corp.’s $30.9 billion takeover as its shares gain following Occidental Petroleum Corp.’s higher offer. On Friday -- a day when most U.S. oil companies dropped amid a selloff in the crude market -- Anadarko extended its... Continue Reading →

Rio de Janeiro, April 26, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that the Board of Directors, in a meeting held today, approved  new guidelines for the management of  its asset portfolio. The guidelines are in line with the Resilience Plan, released on 03/08/2019, being part of the preparation process of the 2020-2024 Business... Continue Reading →

State governments in Brazil have agreed to work toward fulfilling the country’s Paris Agreement climate change commitments, despite far-right President Jair Bolsonaro’s ambivalence over the pact. Bolsonaro said on his campaign trail he would withdraw Brazil from the accord, although later walked back those remarks. The country remains party to the agreement, with a commitment... Continue Reading →

Chevron Corp on Friday pushed back at the potential for a rival to break up its $33 billion deal for Anadarko Petroleum Corp, saying the two companies had already begun meetings on a merger plan. Occidental Petroleum on Thursday sought to scuttle the proposed deal, submitting a higher, $38 billion cash-and-stock offer for Anadarko. Anadarko’s... Continue Reading →

Exxon Mobil Corp is studying a possible purchase of production rights in Brazil’s so-called transfer-of-rights area - one of the world’s most promising offshore oil areas - although no decision has yet been made on the matter, an executive said on Friday. Speaking at an event in Sao Paulo, Exxon’s Brazil chief Carla Lacerda said... Continue Reading →

4/24/2019 Petrobras has produced its first batch of VLSFO sulfur bunker fuel that is compatible with International Maritime Organization (IMO) regulations for 2020 according to Argus and reported by Ship & Bunker. Although not the first oil company to do so, it is one of the first to have published some specifications for the fuel.... Continue Reading →