Rio de Janeiro, January 21, 2019 - Petróleo Brasileiro S.A - Petrobras informs that it received a communication from its controlling shareholder with the appointment of the Professor Nivio Ziviani to exercise the position of member of its Board of Directors. The indication shall be submitted to the internal corporate governance procedures, including the conformity... Continue Reading →
Petrobrás – Bureaucracy blocks platform dismantling
1/21/19 The lack of definition of environmental rules that must be adopted to retire thousands of kilometers of pipelines and machinery launched in the ocean to explore oil, has blocked the dismantling of platforms in the country. Earlier this year, a Petrobras platform that should have been dismantled since last year ended up leaking off... Continue Reading →
Petrobras will no longer have differentiated interest-rate public bank loans, says CEO
1/21/19 Petrobras President Roberto Castello Branco said the company no longer plans to seek "differentiated interest" loans from public banks, according to the state press's press office on Friday. The speech comes after president Jair Bolsonaro publish on Twitter a list of the National Bank for Economic and Social Development (BNDES) with the 50 largest... Continue Reading →
More pre-salt in international waters
1/21/19 New pre-salt reservoirs may be waiting for the industry beyond the limits of Brazil's Exclusive Economic Zone (EEZ). João Correa, country manager of Spectrum, said as they are conducting a 3D seismic campaign in international waters, in the Santos Basin, in partnership with TGS. "We see an absurd potential, equivalent to Sapinhoá and Peroba.... Continue Reading →
PetroRio extends Polvo FPSO contract
1/21/19 PetroRio signed with BW Offshore a one-year extension of the FPSO contract for lease and operation in the Polvo field. The contract will be valid through the third quarter of 2020, with options to remain in force until 2022. Production and assets PetroRio produced 13,356 bopd / day in December, an increase of 3%... Continue Reading →
Schlumberger Posts $1.53 Full-Year EPS
Schlumberger has bounced back in black in the fourth quarter of 2018, against last year’s Q4 loss of $2.25 billion that was booked following restructuring and asset writedown charges. The oilfield services giant generated quarterly profit of $538 million, or 39 cents per share, on relatively flat Q-on-Q revenue of $8.2 billion. Continue reading
Petrobras, 2019 a year of definitions
January 21, 2019 The year 2019 promises to be of many definitions for Petrobras. The new president of the company, Roberto Castello Branco, will have to deal in the coming months with important guidelines for the future of the state. Transfer of rights Agreement, refining and deciding whether or not to continue in the petrochemical... Continue Reading →
Wood Mackenzie expects sluggish year in upstream M&A
Upstream dealmakers start 2019 facing an uphill battle. Volatile oil prices and bearish equity markets impede deal flow by creating uncertainty, widening the bid-ask spread, altering financial conditions and making companies re-think near-term strategies, Wood Mackenzie has said. In Q4 2018, as these factors emerged, deal count dropped to its lowest level since Q1 2015,... Continue Reading →
Ensco postpones general meeting as Rowan evaluates new bid
Offshore drilling company Ensco has decided to postpone its general meeting originally scheduled for January 23, 2019. The meeting was scheduled to approve resolutions related to the proposed all-stock merger between Ensco and Rowan, as announced on October 7, 2018. Under the arrangement from October last year, Rowan shareholders were to receive 2.215 Ensco shares... Continue Reading →
After billion-barrel bonanza, BP goes global with seismic tech
Buoyed by the success of seismic imaging that found an extra billion barrels of oil in the Gulf of Mexico, BP is looking to take its latest technology to Angola and Brazil. The software used in the Gulf, based on an algorithm created by Xukai Shen, a geophysicist straight out of Stanford University, led to... Continue Reading →
Brazil Energy Insight 