02/26/2016 Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro S.A. – Petrobras, concerning the news items published in the media regarding the sale of its assets of Nova Transportadora do Sudeste (NTS), hereby announces that it began negotiations for the sale of this company. Nevertheless, until now, there are no deals signed securing the... Continue Reading →
Exxon’s Downgrade Threats Mount as Oil Rebound Prospects Dim
Exxon Mobil Corp. may lose its top-notch credit rating from Moody’s Investors Service as the oil-market collapse imperils cash flow needed to cover debt payments and investment in new discoveries. Seven of the other largest U.S. energy explorers also were put on notice or downgraded by Moody’s Thursday after the rating company concluded crude prices will... Continue Reading →
Fluor Consortium Delivers Natural Gas Development Project in Brazil
Project completed safely, on time and on budget The Gavião Branco facility in the state of Maranhão, Brazil (Photo: Business Wire) February 25, 2016 IRVING, Texas & SÃO PAULO--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that its consortium has met substantial completion on the Gavião Branco facility in the state of Maranhão, Brazil, turning it... Continue Reading →
Halliburton Cuts Another 5,000 Workers to Cope with Oil Downturn
David Wethe February 25, 2016 Halliburton Co. said it’s cutting another 5,000 workers, or 8 percent of its global workforce, to cope with the worst crude market downturn in 30 years. The world’s second-largest oilfield services provider said last month it cut nearly 4,000 jobs in the final three months of 2015. With the latest... Continue Reading →
Brazil’s January Primary Budget Surplus Beats Analyst Estimates
The central government’s primary budget surplus exceeded analyst estimates last month, as a jump in tax revenue pulled Brazil out of deficit territory for the first time since April 2015. The surplus, which excludes interest payments as well as municipalities and government-run companies, was 14.8 billion reais ($3.8 billion) in January, the Treasury said Thursday. The... Continue Reading →
Technip Shares Post Record Gain as Oil-Services Orders Increase
Technip SA climbed the most on record in Paris trading after orders received by Europe’s largest oilfield-services provider exceeded analyst expectations. The order intake was 2.8 billion euros ($3.1 billion) in the fourth quarter, bringing its backlog to 17 billion euros at the end of the year, Paris-based Technip said Thursday in a statement. The... Continue Reading →
Petrobras may get $6 billion in sale of gas pipeline system
Feb 25, 2016 Reuters The Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil, January 28, 2016. REUTERS/SERGIO MORAES Brazil's state-led oil company Petrobras is expected to fetch as much as $6 billion from the sale of a natural gas pipeline unit in Brazil's industrialized Southeast, the Valor Economico daily newspaper... Continue Reading →
Seadrill Jumps as Profit Beats Estimates Amid Deeper Cuts
Seadrill Ltd., the oil-rig company controlled by billionaire John Fredriksen, beat profit estimates as it deepened cost cuts to counter a slump in demand for offshore drilling. The stock rose as much as 10 percent in Oslo. The company, which is struggling with debt in a dismal rig market, said it would announce a funding... Continue Reading →
Pemex, Badly in Need of Cash, Works on Plan to List Some Assets
With oil prices stuck near a 12-year low and output in free-fall, speculation is mounting that Petroleos Mexicanos will seek to raise cash by selling stakes in pipelines and oil terminals that might have otherwise been off limits. The state-owned oil company will probably take advantage of new rules creating master limited partnerships in Mexico,... Continue Reading →
Brazil Senate Votes to Limit Petrobras Role in Deep Waters
Brazil’s Senate approved legislation that relieves Petrobras of its role as sole operator and mandatory stakeholder in so-called pre-salt deepwater oilfields, potentially allowing the state-run company to direct resources to more profitable operations. Legislators on Wednesday night voted 40 to 26 in favor of the bill, which was introduced by opposition Senator Jose Serra and now goes... Continue Reading →
