November 01, 2017, 10:23 AM Pre-salt production in September totaled approximately 1.677 million barrels of oil equivalent per day, an increase of 6.6% over the previous month. The production, from 82 wells, was 1.351 million barrels of oil per day and 52 million cubic meters of natural gas per day and corresponded to 49.8%... Continue Reading →
Engie and Pátria are among those interested in Petrobras pipeline
01/11/2017 | 08:45 France's Engie and Brazil's Pátria Investimentos are among the 20 groups interested in a controlling stake in Petrobras' pipeline network in the Northeast. Petrobras will receive the first round of non-binding proposals for a 90 percent stake in the Associated Gas Company, known as TAG, by the end of November. Other competitors... Continue Reading →
Anadarko narrows quarterly loss
U.S.-based oil and gas company Anadarko Petroleum Corporation narrowed its net loss for the third quarter of this year. Anadarko on Tuesday reported a net loss attributable to common stockholders of $699 million for the third quarter of 2017. This compares to a $830 million net loss in the third quarter of 2016. Read more
Sembcorp Marine sees signs of recovery in offshore drilling market
Singapore’s Sembcorp Marine returned to profit in the third quarter 2017, posting a net profit of $2.7 million, versus a net loss of $21.8 million a year ago. The offshore rig builder’s turnover was $316.9 million, down from $888 million a year ago. The lower revenue was due to lower rig building revenue, fewer floater and... Continue Reading →
Rolls-Royce pays $25 million to Petrobras in bribery settlement
Brazilian oil giant Petrobras has received R$81 million as part of Rolls-Royce’s settlement with the Brazilian authorities related to the Lava Jato bribery scandal. Petrobras said on Monday that it received the R$81 million ($24.7M) settlement from the British company last Friday, October 27. According to multiple sources, Rolls-Royce entered into settlements with authorities in... Continue Reading →
PETROBRAS CONCLUDES WELL IN THE LIBRA FIELD
Petrobrás completed the 3BRSA1350RJS well in the Libra field in the pre-salt Santos Basin. The drilling activity was performed on a water depth of 2,098 meters, using the West Carina drill ship. In September, the oil company had already notified the National Petroleum Agency (ANP) about the discovery of hydrocarbon traces in the well.... Continue Reading →
Petrobras begins negotiation with BP towards a Strategic Alliance
Rio de Janeiro, October 31, 2017 – Petrobras informs that has signed a Letter Of Intent (LOI) with BP to jointly identify and evaluate business opportunities involving assets or ventures in Brazil and abroad, which include cooperation on upstream, downstream, gas transportation and marketing, LNG, oil trading, lubricants, aviation fuel, power generation and distribution, renewables,... Continue Reading →
BP Signals Confidence With Share Buyback as Profit Jumps
The company, which doubled third-quarter earnings from a year earlier on robust refining margins and rising production, also pared net debt for the first time in two years. The decision to initiate buybacks, which may cost as much as $400 million a quarter, underscores BP’s improving fortunes after seven tough years dominated first by the... Continue Reading →
Diamond Offshore sees profit fall, bags two new rig deals
U.S.-based offshore drilling contractor Diamond Offshore booked a smaller profit for the third quarter of the year despite increase in revenues. During the quarter, the driller won two one-well contracts. The driller on Monday posted a net income of $10.8 million for the third quarter 2017, a decrease compared to $13.9 million in the prior-year... Continue Reading →
Sinopec’s Oil Refining Overcomes Continued Upstream Losses
China Petroleum & Chemical Corp., the world’s biggest refiner, said third-quarter profit advanced 13 percent as earnings from refining offset upstream and impairment losses. Net income at the state-owned energy producer increased to 11.5 billion yuan ($1.7 billion) in the three months to Sept. 30, the Beijing-based company known as Sinopec said in a statement... Continue Reading →
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