A fire broke out in the engine room of the P-32 floating production storage and offloading (FPSO) vessel operated by Brazilian oil giant Petrobras on Thursday, February 8. Read more
Brazil: Petrobras FPSO catches fire
Exploration success helps ExxonMobil add 2.7 billion barrels to reserves
U.S. oil and gas major ExxonMobil has added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017, the company said on Thursday. Liquids represented 57 percent of the reserves, up from 53 percent in 2016. ExxonMobil’s... Continue Reading →
SBM Offshore 2017 Full Year Earnings
Financial Highlights Underlying[1] Directional[2] 2017 EBITDA of US$806 million, an increase of c. 4% compared to last year Underlying Directional 2017 Earnings per share of US$0.39, a decrease of US$0.18 year-on-year Directional 2017 revenue of US$1,676 million, a decrease of 17% year-on-year Directional year-end pro-forma backlog of US$16.8 billion, stable compared with US$17.1 billion at year-end 2016... Continue Reading →
Brazil Cuts Key Rate to Record Low, Signaling End of Cycle
Brazil’s central bank cut its key interest rate by 25 basis points to a record low as it signaled the end of the most aggressive easing cycle in the last decade amid risks that reforms could falter and push up prices. All but two of the 40 analysts surveyed by Bloomberg expected the central bank... Continue Reading →
CADE approval of the sale of PetroquímicaSuape and Citepe
Rio de Janeiro, February 7, 2018 - Petróleo Brasileiro SA - Petrobras, pursuant to the Press Release disclosed on 12/18/2017, informs that the Court of the Administrative Council for Economic Defense (CADE) has approved the sale of Companhia Petroquímica de Pernambuco (PetroquímicaSuape) and Companhia Integrada Têxtil de Pernambuco (Citepe), Petrobras wholly-owned subsidiaries, to Alpek, subject... Continue Reading →
Total 2017 Results
Please see attached presentation. Total 2017 results
Five FPSOs in bidding process in Brazil
Feb. 7, 2018 Petrobras will launch next week a tender for the contracting of the FPSO that will be part of the Integrated Project of the Parque das Baleias in the Campos Basin. The information is from the director of Corporate Affairs of the company, Eberaldo de Almeida Neto. Proposals for the unit should be... Continue Reading →
Searcher Seismic builds up Argentinian seismic database ahead of bidding round
Searcher Seismic, an independent seismic data acquisition company, has expanded its Argentinian multi-client library by offering over 97,000 km of seismic data and an analysis of offshore wells. Searcher Seismic said on Wednesday that the release of its technical dataset comes in preparation for the highly anticipated Argentina Offshore Bidding Round 1, expected to be... Continue Reading →
Aker Solutions lands four-year services contract in Brazil
Norwegian oil services company Aker Solutions has won a contract to provide maintenance and modifications services for three platforms at Petrobras-operated oil and gas fields offshore Brazil. The four-year contract is valued at about NOK 800 million ($101.1 million) and includes an option for a one-year extension, the oil services company said on Thursday. Read... Continue Reading →
STATOIL 2017 fourth quarter & year end results
Statoil reports adjusted earnings of USD 4.0 billion and USD 1.3 billion after tax in the fourth quarter of 2017. IFRS net operating income was USD 5.2 billion and the IFRS net income was USD 2.6 billion. The fourth quarter was characterised by: Strong earnings and underlying cash flow. Net debt ratio at 29.0% [5]... Continue Reading →
Brazil Energy Insight 