Norwegian oil major Statoil has booked a bigger loss for the third quarter 2017 compared to the one posted a year ago while its revenues and production increased during the period. Statoil on Thursday reported adjusted earnings of $2.3 billion in the third quarter, up from $0.6 billion in the same period in 2016. After... Continue Reading →
Ensco books quarterly loss as revenues slip on fewer rig days
Offshore drilling contractor Ensco booked a loss in the third quarter of this year, after reporting a profit in the same period last year. The driller’s revenues were impacted by fewer rig days and lower dayrates. The UK-based driller, which recently completed its acquisition of Atwood Oceanics, on Wednesday reported a loss of $25.4 million for... Continue Reading →
Upstream firms expect digital investments to bring faster first oil
What do upstream oil and gas companies expect to gain from investing in digital initiatives? They expect faster first oil time, and better decision making, a research conducted by Accenture and Microsoft on 300 upstream leaders in 18 countries has shown. Read more
Wartsila tests remote control vessel from 8,000 km away
Finland’s Wärtsilä has successfully tested the remote control of ship operations using a combination of dynamic positioning (DP) and manual joystick control. Wartsila, in collaboration with vessel provider for the project Gulfmark Offshore, carried out the test on August 21 off the North Sea coast of Scotland. Even though the test vessel was in the... Continue Reading →
Tullow comes up dry off Suriname
Oil and gas company Tullow Oil has failed to make a commercial discovery at its Araku-1 well, offshore Suriname. The Araku-1 exploration well in Suriname has been drilled to a total depth of 2,685 meters and penetrated the objectives of the Araku prospect, Tullow informed on Friday. Read more
First oil from Libra on November 15
First oil production from the giant Libra oil field offshore Brazil is expected to be achieved on November 15, 2017. According to Brazil’s O’Globo news paper, the new date has been shared by the Petrobras Libra Project Manager, Orlando Ribeiro. O’Globo reports that the new date marks a four month delay compared to the last... Continue Reading →
Big Oil Is Heading to Rio With $50 Crude No Longer a Nightmare
Output is surging at Brazil’s so-called pre-salt region. This decade it has gone from nothing to 1.3 million barrels a day. Better yet for international oil majors, the country is opening its prized region to foreign operators as part of a wider move to reduce the state’s role in the economy and boost competition. Majors... Continue Reading →
Petrobras expects bidding for all pre-salt oil blocks on Friday
The world’s top energy companies will compete fiercely for deepwater oilfields Brazil will auction on Friday and all eight pre-salt blocks are likely to be awarded, according to the head of state-run oil giant Petroleo Brasileiro SA. Read more
Petrobras Board of Directors Approves the application for membership to B3’s Level 2 special listing segment of Corporate Governance
Rio de Janeiro, October 26, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the press release disclosed to the market on June 5, 2017, reports that its Board of Directors approved, at a meeting held yesterday, the company's application for membership to the Level 2 special listing segment of Corporate Governance of B3 (Level... Continue Reading →
Petrobras eyes second Libra charter
25.10.2017 - 23:51:54 Petrobras eyes second Libra charter Petrobras eyes second Libra charter. Brazilian state player to launch tender early next year for Libra 2 floater
Brazil Energy Insight 