Brought to you by Quest Offshore & Southern Cone Consultants
Feb 21, 2020 Petrobras' oil workers decided to suspend the strike. The announcement was made by the Single Petroleum Federation (FUP), which represents 13 unions of the category in the country. It is scheduled for this Friday, an audience between representatives of the category and Petrobras with Minister Ives Gandra, of the Superior Labor Court... Continue Reading →
February 21, 2020, The ANP Board approved yesterday (2/20) the first reduction in the royalty rate on the incremental production of a mature field, as provided for in ANP Resolution No. 749/2018. The incentive was granted to Campo de Polvo, in the Campos Basin, operated by the company PetroRio, within the scope of the approval... Continue Reading →
Feb 21, 2020 Petrobras plans to invest US $ 9 billion in exploration and production in 2020, said the company's production and technology development director, Rudimar Lorenzatto. According to him, of this total, half will be allocated to new projects, including Sépia, Mero, Búzios 5 and Atapu. Petrobras, as a whole, plans to invest US... Continue Reading →
Oil exports by Brazilian state-run Petrobras should fall slightly in the first quarter, thanks to scheduled maintenance stoppages at offshore platforms, executives said on Thursday. On a conference call to discuss the firm's fourth-quarter results, the executives added that January production was little changed from December. On Wednesday evening, Petroleo Brasileiro SA, as the firm... Continue Reading →
Singaporean rig builder Sembcorp Marine Ltd said on Friday a former consultant to the company had been convicted by a federal court in Brazil for corruption, money laundering and participation in a criminal organization. The conviction of Guilherme Esteves de Jesus is part of one of the largest corporate corruption probes in history, Brazil’s wide-ranging... Continue Reading →
Aker Energy has entered into a Letter of Intent (LOI) with Yinson to award a bareboat charter and an operations and maintenance contract for a floating, production, storage and offloading (FPSO) vessel at the Pecan field, offshore Ghana. The LOI follows a competitive tender and demonstrates Aker Energy’s intention to award the forthcoming bareboat charter and... Continue Reading →
Offshore drilling contractor Valaris booked a bigger quarterly loss as its revenues declined due to fewer rig operating days. Valaris on Thursday reported a net loss attributable to the company of $216 million for fourth quarter 2019 compared to a net loss of $197 million in the third quarter 2019. Revenues declined to $512 million... Continue Reading →
Singapore’s offshore rig builder Sembcorp Marine posted a bigger loss for 2019 when compared to 2018. Quarterly, the company went from black to the red as its revenues dropped by 32% amid low activity levels. Sembcorp Marine on Thursday posted a net loss of S$137 million for the 12 months ended December 31, 2019, compared... Continue Reading →
Feb 20, 2020 PetroRio, the largest independent oil and gas company in the country, recorded record financial results in 2019, a year marked by important acquisitions, with a strong positive impact on the company's production and reserves. For the year, net income reached R$ 688.4 million, an increase of 236% compared to 2018. Net revenue,... Continue Reading →
February 20, 2020 Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, at a meeting held yesterday, approved dividends to shareholders, in the amount of R$ 1.7 billion to common shares (R$ 0.233649 per share) and R$ 2.5 million to preferred shares (R$0.000449 per share), based on the 2019 annual results. The adjusted... Continue Reading →
Brazil Energy Insight 