See attached OTC Brasil 2017 presentation by Petrobras CEO, Pedro Parente. OTC Brasil 2017 - Pedro Parente
Big Oil Learns to Squeeze Cash From Every Barre
Crude may still be languishing near $50, but Big Oil is on track to rejoin the world’s corporate elite by squeezing more cash from each barrel. The five biggest oil producers generated about $34 billion of cash from operations in the third quarter, according to estimates from Jefferies LLC. That puts each of them at... Continue Reading →
Brazil auction tests oil major appetite for deepwater fields
Top global oil companies will compete on Friday in Brazil’s billion-dollar auction for some of the world’s most prolific deepwater oilfields, a test of their appetite for capital intensive offshore projects after three years of low oil prices. Competition between firms such as Exxon Mobil, Royal Dutch Shell and Total> is expected to be fierce... Continue Reading →
Shell says can pump oil from Brazil’s pre-salt fields below $40/bbl
Royal Dutch Shell will participate in Brazil’s deepwater oilfield auction on Friday and is confident it can pump oil from the fields on offer for less than $40 a barrel, a top Shell executive said. Read more
IHS Markit: Lack of deepwater asset inventory challenges operators who seek M&A deals
Reduced spending for oil and gas exploration is limiting availability of quality deepwater assets for merger and acquisition (M&A) deals, according to a new report by IHS Markit, a UK-based provider of information, analytics and solutions. This lack of deepwater asset inventory is challenging E&P (exploration and production) operators who seek to acquire assets in order to... Continue Reading →
Brazil central bank set to taper rate cuts near record low
Brazil’s central bank is set to slow the pace of interest rate cuts on Wednesday, taking its benchmark rate just above an all-time low as the economy finally starts to emerge from recession. Read more
Hess Is Building a War Chest to Fund Its $4.4 Billion Guyana Find
With $2.7 billion in oilfield sales this week, Hess Corp. is making a calculated bet, giving up steady production today to help fund what could be one of the world’s biggest discoveries into the next decade. The oil explorer with operations on five continents said Tuesday that it’s selling North Sea assets off of... Continue Reading →
Helix Energy posts lower third quarter profit
Offshore energy services company Helix Energy Solutions recorded a lower profit for the third quarter 2017 impacted by operational downtime and idle time for some of its vessels. On Sunday, the company reported net income of $2.3 million for the third quarter of 2017 compared to net income of $11.5 million for the same period in 2016 and... Continue Reading →
Keppel profitable. Offshore division breaks even
Singapore’s industrial conglomerate Keppel Corporation posted a revenue of S$1,6 billion for the third quarter of 2017, an increase S$158 million or 11% above that of 3Q 2016. However, revenue from the Offshore & Marine Division, Keppel is mostly famous for, declined by S$136 million to S$380 million, 25 percent down from last year’s S$516 million because... Continue Reading →
After E&P, Engie now in talks to sell LNG business?
French energy company Engie has said it has launched a strategic review of its upstream and midstream LNG activities. The company confirmed this on Monday, following press speculation that it is in talks to sell its LNG business to its rival and compatriot, Total. Engie, formerly known as GDF Suez, on Monday confirmed it had launched... Continue Reading →
