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Petrobras has signed the first contract to acquire undersea equipment to start implementing the Atapu 2 and Sépia 2 projects. The equipment will be installed in the Santos Basin's pre-salt layer and the Campos Basin Roncador field. The commercial agreement was closed with the SLB OneSubsea group, and the equipment will start being built in... Continue Reading →
(Reuters) - Chevron reported second-quarter earnings on Friday that missed Wall Street estimates due to industry-wide pressure from lower refining margins and natural gas prices, sending its shares down 1.5% in premarket trading. The company earlier had warned oil output this quarter would slip and refining would suffer from turnarounds at two refineries in California. Refining... Continue Reading →
(OE) RWE has appointed Kevin Kroll to serve as Chief Operating Officer (COO) of its U.S. renewables business, RWE Clean Energy. Starting August 1, under the lead of Andrew Flanagan, CEO of RWE Clean Energy, Kroll will complete the Executive Leadership Team of the company which also includes Chief Financial Officer (CFO) Ingmar Ritzenhofen and... Continue Reading →
(Reuters) Exxon Mobil on Friday posted a better-than-expected $9.2 billion second-quarter profit based on rising output from its purchase this year of shale oil firm Pioneer Natural Resources. Exxon delivered a $2.14 a share profit that beat analysts' estimates on oil production and pricing gains that offset refining weakness. Results mirrored profit beats by rivals... Continue Reading →
(Source: The Conversation) Offshore winds have the potential to supply coastlines with massive, consistent flows of clean electricity. One study estimates wind farms just offshore could meet 11 times the projected global electricity demand in 2040. In the U.S., the East Coast is an ideal location to capture this power, but there’s a problem: getting electricity... Continue Reading →
Production from the Golfinho license in the Espírito Basin offshore Brazil has been impacted recently by reduced gas-lift compressor uptime from the GLF-28 well, operator BW Energy said in an update. However, the well is now back online following ROV intervention, with a program underway to improve reliability. During August, the company plans a 12-day shutdown on... Continue Reading →
(OE) Oilfield services firm Archer has entered into an agreement with Air Drilling Associates to acquire its managed pressure drilling (MPD) subsidiary ADA Argentina. ADA provides MPD services to Archer's largest customers in the Vaca Muerta basin in Argentina. MPD is an adaptive drilling process used to precisely control the annular pressure profile throughout the... Continue Reading →
(Reuters) - Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months as refining margins and oil and gas trading weakened, though still beating analysts' forecasts. The results were lifted by strong performances in the oil and gas production and retail marketing businesses and the profit was nearly 25% higher... Continue Reading →
(PN) FPSO Almirante Tamandaré began its journey to Brazil. The unit left the CMHI shipyard in China today (31) and is headed for the Buzios field, in the pre-salt layer of the Santos Basin. The new platform will be the first with high capacity to be installed in the field, with the potential to produce... Continue Reading →
(Reuters) - Petrobras as well as Chinese oil firms CNOOC and Petrochina were the winners of a Wednesday oil auction that is expected to bring record revenue for Brazil's Pre-Sal Petroleo (PPSA). State-run oil firm Petrobras won two bids, acquiring 12 million barrels from the Mero field and another 2.5 million from Buzios field, while... Continue Reading →
Brazil Energy Insight 