The Oil and Gas Climate Initiative (OGCI) has announced its first three investments, moving forward the organization’s commitments into concrete action to spur the growth of promising low carbon technologies. Launched in 2014, OGCI is currently made up of ten oil and gas companies that pool expert knowledge and collaborate on action to reduce greenhouse... Continue Reading →
Transocean’s new drillship starts ten-year contract with Shell
Transocean-owned newbuild ultra-deepwater drillship Deepwater Pontus has started operations for Shell in the U.S. Gulf of Mexico. Transocean said in its fleet status report on Thursday that the Deepwater Pontus drillship began its ten-year contract with Shell in late October. The drillship is operating under a $519,000 dayrate and the contract end date is set for... Continue Reading →
Eni back to black in third quarter
Italian oil company Eni returned to profit in the third quarter of this year thanks to recovery in oil prices and increase in production. In the third quarter of 2017 the Italian oil company recorded a profit of €344 million compared to a loss of €562 million in the prior-year quarter. Read more
ExxonMobil to Acquire Interest in Block Containing Brazil’s Carcara Oil Field from Statoil
October 27, 2017 12:26 PM Eastern Daylight Time IRVING, Texas--(BUSINESS WIRE)--ExxonMobil announced today that it has completed an agreement to purchase half of Statoil’s interest in the BM-S-8 block offshore Brazil, which contains part of the pre-salt Carcara oil field. The Carcara field contains an estimated recoverable resource of 2 billion barrels of high-quality oil.... Continue Reading →
Brazil Draws Broad Interest in Offshore Oil Drilling Rights
In a sign of confidence in Brazil as a worthy place to invest, several international oil companies on Friday successfully bid for deepwater drilling rights in some of the richest oil fields of the Western Hemisphere. Read more
Petrobras 3rd Quarter 2017 Results Release Date
Rio de Janeiro, October 27, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it will release its 3rd quarter 2017 results on November 13, 2017, after the market is closed. Therefore, between 10/29/2017 and 11/13/2017, the company will be in quiet period, during which it will not be able to comment or provide clarifications... Continue Reading →
Petrobras Result of the Second and Third Bidding Rounds – Production Sharing Regime
Rio de Janeiro, October 27, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on May 25, 2017, reports that it has acquired, in partnership with other companies, three offshore blocks in the 2nd and 3rd bidding rounds under the production sharing regime, held today by the National Agency of Petroleum,... Continue Reading →
Factbox: Winners of Brazil’s pre-salt oil round
The Brazilian government awarded on Friday rights for companies to explore high-potential oil blocks in Brazil’s pre-salt offshore region. Six out of eight blocks offered received bids. The pre-salt blocks offered to investors will be governed by production-sharing contracts. Companies had to agree to pay a fixed signing bonus and offer the government a share... Continue Reading →
Chevron Joins the Oil Party as Cuts, Sales Spur Outsized Results
Chevron Corp. joined the widening array of oil explorers trampling analysts’ profit forecasts with outsized results fed by climbing crude prices and uncharacteristic frugality. Chevron posted third-quarter per-share net income that exceeded the 99-cent average of 19 estimates in a Bloomberg survey. The outcome validated Chief Executive Officer John Watson’s sweeping job cuts, project cancellations... Continue Reading →
Shell wins three oil blocks in Brazil’s deepwater
Oil major Royal Dutch Shell Plc RDSA.L won half the blocks awarded in Brazil’s deepwater oil auction on Friday, while rival BP (BP.L) took two blocks and Exxon Mobil Corp (XOM.N) took one in a historic opening of the pre-salt play to foreign operators. Read more
Brazil Energy Insight 