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Russia cuts February output deeper to comply with OPEC pact

2 months ago DieselGasoil Comments Off on Russia cuts February output deeper to comply with OPEC pact
By Dina Khrennikova and Olga Tanas on 3/3/2019 MOSCOW (Bloomberg) — Russia’s oil producers cut their output deeper in February as the nation strives to implement an agreement with OPEC following criticism that it was moving too slowly. The country produced 43.3 MMt of oil last month, according to preliminary data from the Energy Ministry’s Read More

SandP lowers Mexico soverign outlook to negative on AMLO oil plan

2 months ago DieselGasoil Comments Off on SandP lowers Mexico soverign outlook to negative on AMLO oil plan
By Nacha Cattan on 3/3/2019 MEXICO CITY (Bloomberg) — S&P Global Ratings lowered its outlook for Mexico’s sovereign debt to negative from stable, saying the nation’s shift to limit private sector involvement in energy could lower economic growth prospects. Other developments that have shifted investor confidence – such as the cancellation of a $13 billion Read More

Bidders said to emergy in BP's $7 billion U.S. shale asset sale

2 months ago DieselGasoil Comments Off on Bidders said to emergy in BP's $7 billion U.S. shale asset sale
By Kiel Porter, Kelly Gilblom and Dinesh Nair on 3/3/2019 LONDON (Bloomberg) — BP Plc’s sale of a portfolio of U.S. onshore shale assets worth a combined $7 billion is progressing, with suitors  preparing bids for parts of the portfolio, according to people with knowledge of the matter. The London-based energy conglomerate has received interest Read More

Aker BP has awarded platform supply vessel agreements

2 months ago DieselGasoil Comments Off on Aker BP has awarded platform supply vessel agreements
3/3/2019 STAVANGER — The following suppliers signed the agreements in Stavanger.   Simon Møkster Shipping ASA Eidesvik Offshore ASA Solstad Offshore ASA The duration of the frame agreements is initially for three years, with the option of two additional periods of two years each. “We will together with the tree suppliers work towards a more integrated Read More

ABB, Dassault Systèmes enter global software partnership for digital industries

2 months ago DieselGasoil Comments Off on ABB, Dassault Systèmes enter global software partnership for digital industries
3/3/2019 ZURICH — SwitzerlandABB and Dassault Systèmes have announced a wide spanning global partnership to offer customers in digital industries a unique software solutions portfolio ranging from product life cycle management to asset Health solutions. The two companies will provide customers an end-to-end offering of advanced open digital solutions, enhancing competitiveness of industrial companies, while Read More

Petrobras Posts $6.84 billion net income in 2018

2 months ago DieselGasoil Comments Off on Petrobras Posts $6.84 billion net income in 2018
3/3/2019 RIO DE JANEIRO — Petrobras posted $6.84 billion (R$25.8 billion) net income in 2018. The first positive annual result in five years is also the highest since 2011. The company posted two financial records: Adjusted EBITDA of $30.44 billion) R$ 114.9 billion and, for the fourth year in a row, a positive free cash Read More

Africa Oil reports 2018 fourth-quarter, full-year results

2 months ago DieselGasoil Comments Off on Africa Oil reports 2018 fourth-quarter, full-year results
3/3/2019 Editors Note: Included below is an edited view of Africa Oil’s report, referencing upstream related results. For the full report, please visit the company’s website. VANCOUVER — Africa Oil Corp. is pleased to announce its financial and operating results for three months and year ended Dec. 31, 2018. Highlights The company ended the year Read More

Faroe appoints new directors

2 months ago DieselGasoil Comments Off on Faroe appoints new directors
3/3/2019 ABERDEEN — Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has announced that Mr. Bjørn Dale has been appointed as chairman of the company and Mr. Ørjan Gjerde has been appointed as non-executive director of the company with immediate effect. John Read More

Emerson opens Permian basin service center

2 months ago DieselGasoil Comments Off on Emerson opens Permian basin service center
3/3/2019 ODESSA, Texas — Emerson has announced the opening of a new $4 million Permian Basin Service Center to bring enhanced oil and gas technologies and services to the fast-growing region. The technology center is the latest investment in Emerson’s efforts to guide customers on their path to digital transformation and train the workforce of Read More