PARIS (Bloomberg) — Total SA raised its dividend by 1.6% and said it may give the go-ahead for almost a dozen new projects in the next 18 months after fourth-quarter profit beat analysts’ estimates. “We’re going to propose to increase the dividend as we have confidence in the future,” CEO Patrick Pouyanne told reporters in Paris. “My goal is to launch ...

SPRING, Texas — Exxon Mobil has awarded to Pason Systems, Inc. the first global license of its patented Drilling Advisory System, a key component of the company’s Fast Drill technology suite. The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in drilling data and Exxon Mobil’s experience in drilling surveillance and optimization. Fast Drill combines high-end modeling of ...

RIO DE JANEIRO (Bloomberg) — Petroleo Brasileiro SA’s $5.2-billion sale of a natural gas distribution unit to Brookfield Asset Management Inc. and other investors has just hit a legal snag. A Brazilian federal judge granted an injunction against the acquisition of Nova Transportadora do Sudesteon Friday on grounds that the sale wasn’t sufficiently publicized to foster competition, according to a copy ...

HOUSTON — Saudi Aramco and Baker Hughes announced today the first installation of the TransCoil rigless-deployed electrical submersible pumping (ESP) system, which is designed to help operators bring wells on production faster and lower the costs associated with installing and replacing ESPs. Because they can eliminate the need for a rig in fields where rig availability is a concern or ...

The second session of Policy Council for 4th International Iran drilling congress & exhibition 2017 was held at prime meeting room of ministry of petroleum on January 21st 2017. Thirty two delegates from Iranian clients and contractors of upstream oil industry attended the meeting, as per invitation. Rokneddin Djavadi, deputy of petroleum minister and head of the council applauded the ...

TEHRAN, Feb. 12 (Shana) — Iran would welcome cooperation with Swedish companies in projects concerning optimization of energy consumption and reduction of greenhouse emissions, Iranian Minister of Petroleum Bijan Zangeneh said. Following a meeting with a Swedish delegation headed by Sweden’s Minister of EU Affairs and Trade Ann Linde here in Tehran on Saturday, Zangeneh said discussion regarding cooperation between ...

TEHRAN, Feb. 08 (Shana) — The National Iranian Oil Company (NIOC) and Malaysia’s Bukhary International Ventures (BIV) have signed a memorandum of understanding (MoU) for carrying out studies over Iran’s Golshan and Ferdowsi fields. The two sides inked the deal in Tehran on Wednesday. Based on the document BIV will submit the result of its studies to NIOC over the ...

TEHRAN, Feb. 08 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh met his Venezuelan counterpart Nelson Pablo Martinez in Tehran to discuss oil market conditions and OPEC’s production cut. Following the meeting, Martinez said the decision made by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers to cut their output has positively influence the market. Implementation of ...

LONDON (Bloomberg) — BP Plc is falling behind competitors in one crucial measure of its resilience to oil’s slump. The UK company now needs benchmark Brent crude to rise to $60/bbl this year to be able to fund investments and dividends without borrowing, up from a previous estimate of $50 to $55. That means BP is moving in the opposite ...

OSLO (Bloomberg) — Statoil ASA reported an unexpected loss in the fourth-quarter after deepening writedowns on its U.S. shale assets. The adjusted net loss, which excludes financial and other items, was $40 million in the fourth quarter compared with a profit of $185 million a year earlier, the Stavanger-based company said in a report Tuesday. That missed the average forecast ...