British oil major BP has appointed the first woman chairman and president of BP America Inc., BP’s chief representative in the United States. BP said on Tuesday that Susan Dio would take the positions of BP America’s chairman and president on May 1, 2018. Read more

March 21, 2018 By Edmar de Almeida In March Petrobras announced the financial result for the year 2017. The company reported a loss of R$ 446 million. Although small compared to the losses of previous years, this new loss is discouraging. This is the company's fourth year of losses. The accumulated losses in the last... Continue Reading →

Rio de Janeiro, March 20, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in February was 2.69 million barrels of oil equivalent per day (boed), with 2.59 million boed produced in Brazil and 99 thousand boed produced abroad. Total production operated by the company (portions of Petrobras... Continue Reading →

Rio de Janeiro, March 19, 2018 - Petróleo Brasileiro S.A. – Petrobras reports to have received the Official Letter no. 424/2018-SAE, from B3,  which requests the following clarification: Official Letter no. 424/2018-SAE “Dear Sirs, In an article published on 03/16/2018 by the newspaper Valor Econômico, under the heading ‘Petrobras could pay dividends in the 1st... Continue Reading →

Mergers & acquisitions activity in the UK oil and gas sector is expected to continue in 2018, however it is not expected to match the levels reached in 2017. In its 2018 Business Outlook released on Tuesday, Oil & Gas UK looked at the big mergers and acquisitions in the past year. Oil and Gas... Continue Reading →

Bank of America Corp, Itau Unibanco Holding SA and Banco Bradesco SA are arranging financing for a consortium led by Macquarie Group Ltd. so it can bid for Petroleo Brasileiro SA’s natural gas pipeline network in northeastern Brazil, said three people with knowledge of the matter. The bridge-loan, which could reach $6 billion, will probably be... Continue Reading →

Rio de Janeiro, March 20, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that it has decided to mothball its fertilizer plants located in Sergipe ("Fafen-SE") and Bahia ("Fafen-BA"). The decision to mothball these units is aligned with the company’s strategic position to fully withdraw from fertilizer production activities, pursuant to its 2018-2022 Business and... Continue Reading →

The need to rebuild and revitalize the supply chain of goods and services for the oil sector in Brazil dominated the debates of an event promoted by IBP. The president of BP in Brazil, Adriano Bastos, stressed the importance of rebuilding the supply chain in Brazil. According to him, with the oil crisis and the... Continue Reading →

Brazil could have up to 40 deepwater rigs by 2021; manufacturers look to Latin America with optimism.   Brazil may have up to 40 deepwater rigs working in offshore concessions in 2021. The forecast is from consultancy Bassoe Offshore, which provides that Petrobras will demand at least 30 units at the beginning of the next... Continue Reading →

A battle for big data is brewing in the oil patch. The service companies that map underground pockets of oil, drill the wells and lift crude from miles below are generating vast new amounts of data they never before realized could be valuable. But their exploration customers are essentially saying hands off to anything coming... Continue Reading →