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According to Wood Mackenzie’s analysis, the oil price crash wiped US$1.6 trillion off the valuation of the global upstream industry. Andrew Pearson, vice president, upstream, said: "This figure captures the impact of Wood Mackenzie’s downgraded long-term Brent price assumption – now US$50/bbl (2020 terms), rather than the previous US$60/bbl – and much more. Continue reading
Rio de Janeiro, June 24, 2020 - Petróleo Brasileiro S.A. - Petrobras reports that its Board of Directors, in a meeting held today, approved the appointment of Mr. Ruy Flaks Schneider for the position of member of the company's Board of Directors. Mr. Ruy Schneider's appointment will be submitted to Petrobras' 2020 Annual General Meeting, called for... Continue Reading →
Brazilian oil major Petrobras has prolonged the deadline for certain conditions of an agreement and settlement with Sete Brasil related to a charter of four and termination of contracts for 24 drilling rigs. Petrobras said on Wednesday that its executive board pushed back the deadline for the agreement between the two companies from 30 June... Continue Reading →
Rio de Janeiro, June 24, 2020 – Petróleo Brasileiro S.A. – Petrobras, regarding to the news published in the media, clarifies that the date to receive the binding proposals for the divestment project of the Landulpho Alves refinery (RLAM) in Bahia is tomorrow, June 25, 2020. Facts deemed relevant on the matter and other portfolio... Continue Reading →
Brazil’s economic growth and fiscal outlook this year are shaping up to be worse than official government forecasts, making a return to austerity and reforms next year all the more pressing, Treasury Secretary Mansueto Almeida said on Wednesday. Almeida said the public sector primary deficit this year excluding interest payments could reach 800 billion reais... Continue Reading →
The US District Court of Texas has rejected a $250 million damage claim filed by Petrobras America against South Korean shipbuilder Samsung Heavy Industries (SHI). Samsung Heavy said on Monday in a stock exchange filing that the damage claim was submitted back in March 2019. Continue reading
The Norwegian Ministry of Petroleum and Energy has announced its plans to offer up to 136 new oil exploration blocks in Norway’s 25th licensing round. The Ministry said on Wednesday that the 25th licensing round in Norway would open eight new regions of the Barents Sea that were unavailable for exploration and one region of the... Continue Reading →
The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms. A collapse of the offshore industry will have broad impact. Drillers and their suppliers have... Continue Reading →
Jun 23, 2020 Brazilian oil giant Petrobras has launched a quartet of tenders aimed at contracting a variety of helicopters to provide transportation services to support exploration and production efforts in the Campos and Santos Basins.
Quest FWE will moderate a podcast with Oil & Gas Majors July 2nd on the opportunities ahead in Floating Wind. Paul Hillegeist of Quest FWE will set the stage with a Market Overview and moderate a panel discussion with Aker Solutions, Equinor and Shell to gain their key insights on the burgeoning opportunities and challenges... Continue Reading →
Brazil Energy Insight 