As the world's top oil companies diversify and expand their presence in the petrochemicals and renewables segments, Petrobras is craving to be a less verticalized company.As partner to the Brazilian government in one of the industry's most coveted…
Brazilian oil company Petroleo Brasileiro SA has priced global notes worth $3 billion due in 2029 and in 2049 as it seeks to repurchase shorter-term debt obligations, according to a securities filing late Tuesday.Petrobras, as the state-run company is known…
Offshore drilling contractor Transocean announced Monday that two of its ultra-deepwater drillships have been contracted by Petrobras for work offshore Brazil.The two drillships, Ocean Rig Corcovado and Ocean Rig Mykonos, are expected to commence…
Colombia's government on Monday said it signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments of $100 million.Colombia recently modified contractual…
Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, announced plans to cut $8.1 billion from its operational costs in the period from 2019 through 2023, according to a securities filing released on Friday.Petrobras said…
When BW Offshore agreed at the weekend to pay Brazilian oil company Petrobras $90 million for 70 percent of the Maromba field offshore Brazil, the company was launching in earnest a strategy to buffer itself from lulls in spending on floating production storage and offloading vessels (FPSO)…
Petrobras has faced multiple challenges in exploring deepwater pre-salt reservoirs since 2006. These large reservoirs located under massive salt domes are extremely difficult to drill because of low penetration rates and the nature of the salt formations that can be over 2…
Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron, according to a statement in the official gazette on Wednesday.Petrobras has a 70 percent stake in the field, while Chevron has a 30 percent stake…
Exxon Mobil Corp plans to boost capital spending for several years, CEO Darren Woods said on Wednesday, and the largest U.S. oil company's shares fell after he laid out a strategy to 'lean in' while the rest of the industry cuts back.Exxon shares fell more than 1…
Norway's BW Offshore is considering whether to buy Brazil's Maromba oilfield from Petroleo Brasileiro (Petrobras) and Chevron, for an undisclosed price, the Oslo-listed company said on Monday.A final deal is subject to board approvals and other conditions…
Petroleo Brasileiro SA is expanding its ambitious divestment program and has 'bold' plans for future sales, the Brazilian state-run oil company's chief executive said after the firm reported its first annual profit in five years.On a post-results conference call with analysts on Thursday…
Anyone who works in business knows the importance of following processes to achieve successful outcomes. When it comes to the oil and gas industry, one misstep, change or delay can throw the entire process off, rendering resources useless and costing a company thousands…
The Brazilian government will offer in an auction in October production sharing contracts for companies to explore areas that it says hold 'significant volumes of oil and gas', the country's energy council CNPE said on Thursday.After a meeting in Brasilia…
Brazilian state-run oil firm Petroleo Brasileiro SA reported its first annual profit in five years on Wednesday as it swung to a net profit in the fourth quarter, although one-time provisions and writedowns led it to miss estimates.In a securities filing…
Exxon Mobil Corp has resumed seismic exploration for oil and gas off of the coast of Guyana after halting work in December due to a run-in with the Venezuelan navy, a Guyanese government official said on Tuesday.Vessels have been able to travel unimpeded since the incident…
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