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Italian oil company Eni saw an increase in its first quarter 2019 net profit when compared to the last year’s performance. In 2019, Eni expects its production to grow fueled by ramp-up at new fields. Eni’s adjusted operating profit in 1Q 2019 was €2.35 billion, slightly down from the profit of €2.38 billion in the... Continue Reading →
Brazil’s jailed former leftist president, Luiz Inacio Lula da Silva, could gain partial freedom within five months following a court decision on Tuesday to reduce his sentence in one of two corruption convictions. The popular politician began serving a 12-year prison sentence a year ago on a corruption and money-laundering conviction for accepting a luxury... Continue Reading →
April 24, 2019 Total bonus of Búzios, Sepia, Atapu and Itapu exceeds in more than three times the amount collected in the sharing rounds Last week, the National Energy Policy Council (CNPE) approved the technical and economic parameters of the auction of surplus volumes of the Transfer of Rights contract, scheduled for October 28. The... Continue Reading →
Equinor ASA is the latest large oil company to bow to a major investor group that is pushing corporations to take more robust action on climate change. The Norwegian state oil giant has agreed to align its business model with the goals of the 2015 Paris climate accord, and will review its corporate lobbying policy and... Continue Reading →
The U.S. oil firm Occidental Petroleum has entered a race with Chevron to buy Anadarko Petroleum. Oxy on Wednesday said the 50-50 cash and stock transaction was valued at $57 billion. The news follows last week’s Chevron’s bid to buy Anadarko, also in stock-cash combination, valued at $50 billion. Occidental Petroleum on Wednesday said it... Continue Reading →
Brazil’s government reached a deal with lawmakers on Tuesday paving the way for a congressional committee to vote on its key pension reform bill later in the day, boosting investor sentiment and lifting local financial markets. The benchmark Bovespa stock market index rose 1.8 per cent to above 96,000 points, its best day in three... Continue Reading →
Angola plans to auction nine blocks this year and is seeking to build new refineries as Africa’s second-biggest oil producer looks to benefit from a surge in crude prices that could boost companies’ appetite for investments. The tenders for the offshore areas are part of efforts to lure back global explorers that cut spending after... Continue Reading →
Murphy Oil Corporation has entered into a definitive agreement to acquire deepwater Gulf of Mexico assets from LLOG for $1.37 billion. Murphy said on Tuesday that accretive, cash flow providing Gulf of Mexico assets being acquired currently produce approximately 38,000 barrels of oil equivalent per day net (Boepd) and are expected to add approximately 66... Continue Reading →
Helix Energy Solutions has reported net income of $1.3 million, or $0.01 per diluted share, for the first quarter of 2019 compared to a net loss of $2.6 million for the same period in 2018. Sequentially, results improved from net loss of $13.7 million, or $(0.09) per diluted share. Helix reported Adjusted EBITDA of $30.2... Continue Reading →
TechnipFMC’s Subsea School was delivered for the first time in Trinidad & Tobago to the Offshore Innovators ROV Team. The training was hosted by Subsea Specialist at the Deepwater Hub in Chaguaramas, Trinidad. The Subsea School is TechnipFMC’s global training program developed specially for everyone who is new to the subsea industry, or wants to have... Continue Reading →
