Monday, 31 July 2017 In June 2017 oil production in the pre-salt totaled 1,352,957 barrels of oil per day, surpassing that of the post-salt, which totaled 1,321,813 bbl / d. Overall, oil production in Brazil was 2.675 million barrels per day (bbl / d), a growth of 0.8% in comparison with the previous month and... Continue Reading →
Brazil’s Temer Rallies Allies for Congress Vote on Graft Trial
Brazil President Michel Temer is rounding up allies for this week’s lower house vote on whether he’ll stand trial, marking a shift from a previous strategy to stall the congressional decision. Temer wants to hold the session rather sooner than later to return attention on economic bills needed to kick-start a sluggish economy, according to... Continue Reading →
Eni turns profitable in 2Q. Lifts oil and gas output
Italy’s Eni posted a net profit of EUR 18 million in the second quarter of 2017, an improvement from a loss of EUR 446 million reported in the second quarter of 2016. The company’s oil and gas production grew to 1.77 million barrels of oil equivalent a day, a three percent rise versus the corresponding... Continue Reading →
CGG faces uncertainties to carry on ‘as a going concern’
In the Friday report, the company posted revenues for the second quarter 2017 of $350 million, up 21% year-on-year and revenues of $290.2 million and up 40% sequentially. The company’s multi-client sales were boosted by Mexican and Brazilian licensing rounds. On the other hand, the company’s net loss for the 2Q 2017 deepened to $170... Continue Reading →
National Oilwell Varco cuts loss as revenues grow
U.S. oilfield equipment provider National Oilwell Varco (NOV) narrowed its net loss for the second quarter 2017 as revenues grew by 2 percent year-over-year. The company on Thursday reported a second quarter 2017 net loss of $75 million compared to $217 million net loss in 2Q 2016. Excluding other items, net loss for the quarter... Continue Reading →
Pre-merger Baker Hughes sees smaller loss in 2Q
Oilfield services provider Baker Hughes reduced its loss for the 2Q 2017 while recording a small decrease in revenues. Baker Hughes, which is now a GE company, noted that these results did not include GE Oil and Gas’ operations as the merger between the two was closed in early July, creating the world’s only fullstream company. Baker... Continue Reading →
Weatherford expects medium-for-longer prices to stay for some time
Houston-based oil and gas services company Weatherford tightened its net loss for the year’s 2Q while expecting medium-for-longer oil price level to remain for some time. The company on Friday reported a net loss of $171 million, compared to $565 million loss in the second quarter of the prior year. On a non-GAAP basis, net loss was... Continue Reading →
Petrobras – Divestment Opportunity Disclosure – Teasers
Rio de Janeiro, July 28, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that it has started the divestment opportunity disclosure phase (Teasers) for the full sale of its exploration, development and production rights in seven sets of shallow-water fields (total of 30 concessions) located in the States of Ceará, Rio Grande do Norte, Sergipe,... Continue Reading →
Chevron Follows Exxon With Earnings Miss on Stagnating Oil Prices
Chevron Corp. swung to a second-quarter profit as the second-largest U.S. oil explorer lifted production from oil and gas wells by the most in more than 7 years. The shares rose. The San Ramon, California-based driller earned 77 cents a share in the quarter, a dime less than the average of 21 estimates relying on... Continue Reading →
Chevron and ExxonMobil suggest changes in pre-salt round bidding
US-based Chevron and ExxonMobil are among the oil companies monitoring business opportunities in the second and third rounds of pre-salt sharing scheduled for October 27. The two companies were the only multinationals in the industry to submit individual proposals for changes to the bidding document and contract model of bidding processes during the public... Continue Reading →
Brazil Energy Insight 