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The Norwegian competition authorities have rejected the proposed merger between offshore accommodation companies Prosafe and Flotel. The proposed combination would create the world’s largest owner of semi-submersible accommodation rigs with Prosafe currently owning and operating a total of nine offshore accommodation units, and has options for delivery of two newbuilds, while Floatel’s fleet counts five... Continue Reading →
Oil and gas company Cairn Energy has completed the first well in its drilling program offshore Mexico, but failed to prove hydrocarbons. Cairn expects to start drilling its second well off Mexico in November. In an update on Monday, Cairn said that the exploration target of the Alom-1 well on Block 9 was to prove... Continue Reading →
This is certainly a surprising change of posture. Oct 25, 2019 (Reuters) - Brazilian oil worker’s federation FUP said on Friday it has recommended the unions representing workers at state-controlled oil company Petrobras call off a planned general strike after receiving a new contract proposal. Several unions had called for a general strike at Petrobras... Continue Reading →
A thick sludge of crude oil has been washing up on vast stretches of Brazil’s coast for nearly two months, and authorities and experts have been baffled by its origin. This is what is known about the environmental disaster and what remains a mystery. Continue reading
Oct 25, 2019 Baixada Santista has the potential to become a new center of goods and services for the oil and gas sector, along the lines of Macaé (RJ), says São Paulo State Finance and Planning Secretary Henrique Meirelles. “There is no doubt that the Santos Basin's share of pre-salt production is growing. Along with... Continue Reading →
Oct 25, 2019 The first Mero 2 oil in the Santos Basin pre-salt was delayed by one year. Petrobras' business plan was scheduled for FPSO Sepetiba to start operating in 2022, but the company's financial report released on Thursday (10/24) projects its start of production in 2023. The construction and operation of the unit, which... Continue Reading →
(Reuters) - Brazilian fuel distributor Petrobras Distribuidora SA is considering creating energy trading units as it seeks to reposition itself after its privatization last July, Brazilian newspaper Valor Economico reported on Thursday. The company is considering creating ethanol, electricity and natural gas trading businesses, Rafael Grisolia, BR Distribuidora’s chief executive, told the Thursday edition of... Continue Reading →
Brazilian state-owned oil company Petrobras said on Thursday that some of its costs in a key oil-producing region plunged in the third quarter, a positive sign given that the company is making a huge bet on the region. In a securities filing announcing its third-quarter results, Petroleo Brasileiro SA, as the company is formally known,... Continue Reading →
Oct 24, 2019 With an eye on the development of the Carcará and Carcará Norte areas in the Santos Basin, Equinor engaged Seabed Geosolutions to run its first 3D seismic campaign with ocean-bottom nodes in the country. The campaign will cover an area of 410 km², in deep water. Mapping will begin in the second... Continue Reading →
The company’s net profit for the quarter was 523 million euros, down 66 percent from 1,5 billion euros in the third quarter of 2018. Adjusted net profit was 776 million euros, a 44 percent fall compared to 1,38 billion euros in the corresponding quarter of last year. Explaining the profit drop, Eni cited lower oil... Continue Reading →
Brazil Energy Insight 