Brazilian state-controlled oil firm Petróleo Brasileiro SA has reduced prices for the gasoline it sells in Brazil to below parity with the fuel imported from the United States, reducing profit margins to regain market share. Petrobras, as the company is commonly known, has sharply reduced the price gap between the value of gasoline sold at... Continue Reading →
Petrobras – Advance payment of bank debt and new financing with The Bank of Tokyo-Mitsubishi UFJ and Banco Safra
Rio de Janeiro, August 3, 2017 – Petróleo Brasileiro S/A. – Petrobras reports that it has effected today a transaction with The Bank of Tokyo-Mitsubishi UFJ, Ltd., member of MUFG, for prepayment of debt in the amount of US$ 333 million, with expected maturity in 2018, while simultaneous hiring new financing in the amount of... Continue Reading →
Spanish Repsol indicates interest in the 14th round of bidding, says ANP
The oil company Repsol Exploración indicated interest in participating in the 14th Round of bidding for exploratory blocks of oil and natural gas in partnership with other bidders, the National Oil, Natural Gas and Biofuels Agency (ANP) said on Thursday. According to the regulatory agency, Repsol's areas of interest are in the Campos, Espírito Santo,... Continue Reading →
Marathon Oil narrows loss, cuts capex
U.S. oil and gas company Marathon Oil tightened its net loss for the second quarter and reduced capex for the year. On Wednesday, the oil company reported a second quarter 2017 net loss of $139 million, compared to $170 million net loss in the prior-year quarter. The result for this year’s quarter includes the impact of certain... Continue Reading →
Jack-up rigs lift Vantage Drilling revenues
zoom U.S. offshore driller Vantage Drilling saw an increase in revenues in the second quarter of the year lifted by jack-up rig contributions. Earlier this week, Vantage reported a net loss of approximately $36.6 million for the three months ended June 30, 2017 as compared to a net loss of $35.7 million for the... Continue Reading →
Noble’s net loss deepens
U.S. independent Noble Energy’s net loss the second quarter of 2017 deepened to $1,5 billion, versus a loss of $315 million a year ago. The company explained the loss was driven by the impact of the Marcellus upstream asset exit in the U.S. Total Company sales volumes for the second quarter of 2017 were 408... Continue Reading →
Fugro in further cost-cutting push after ‘tough first half’
After experiencing a tough first half of the year, the Dutch geotechnical, survey, subsea and geoscience services provider, Fugro, has made plans to further cut costs to counter the continued challenging market conditions. In its Thursday report for the first half of the year, Fugro said it reduced its net result for the period to... Continue Reading →
Oil at $50 Boosts Sea Drillers’ Hopes of Vying With Shale
The “magic” of $50 oil is now in the sights of deep-sea drillers as they try to lure customer spending from shale wells on land. And after more than three years of pain, that prospect has some investors excited. Transocean Ltd. rose the most in more than eight months after the world’s biggest provider of offshore rigs... Continue Reading →
Scheduled shutdown of the P-58 platform in the Campos Basin is completed by Elfe
08/03/2017 Parque das Baleias in the Campos Basin. Petrobras held a scheduled 20-day shutdown on the P-58 platform, the largest unit of the oil company in production volume. According to technicians from Elfe, the company responsible for the shutdown, the services of improvements in the design of the platform were carried out successfully. The P-58 is installed in... Continue Reading →
Brazil’s Temer Escapes Corruption Trial to Focus on Economy
Brazil President Michel Temer has survived a massive corruption scandal with a victory in the lower house that allows him to cling to power and focus back on the economy. Temer allies on Wednesday defeated the motion that would have put him on trial and forced him to step aside, with 263 against 227 votes.... Continue Reading →
