Dutch FPSO specialist SBM Offshore has awarded TMC Compressors of the Seas (TMC) a contract to supply the marine compressed air system for the FPSO destined for the Liza project off Guyana. TMC said on Monday that the contract would entail a large compressed air system consisting of 3 x 400 kW frequency-controlled instrument air... Continue Reading →

Petrobras intends to begin seismic activities in offshore areas from the 14th Round of bidding in 2017 this year. According to E & P director Solange Guedes, this was a commitment with the partners in the blocks. "One of the very positive side effects of these strategic partnerships are alignments of interest. We are committed... Continue Reading →

RIO DE JANEIRO, BRAZIL – March 15, 2018 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the commencement of offers by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) to purchase for cash PGF’s notes of the series set forth in the table below for an aggregate purchase price, excluding accrued and unpaid... Continue Reading →

Oil majors aren’t famed for their pranks, but Statoil ASA had analysts checking it wasn’t April Fool’s Day when it announced a new name that turned out to have been acquired from an Oslo veterinary practice specializing in horses. “We checked the calendar,” SpareBank 1 Markets analyst Teodor Sveen Nilsen said in a note to clients. “It’s... Continue Reading →

Subsea engineering and construction company Subsea 7 has been awarded a sizeable contract for a conventional project, in shallow water.  Subsea 7 defines a sizeable contract as being between $50 million and $150 million. The company said on Thursday that the offshore execution of the awarded conventional project, in shallow water, is planned for 2019. However,... Continue Reading →

Rio de Janeiro, March 15, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it has published today, for the first time, its Integrated Report. The document consolidates Petrobras’ key information for the year 2017. The Integrated Report consists of: (i) Annual Report, which provides comprehensive information about the company, previously disclosed in the Management... Continue Reading →

Rio de Janeiro – March 15, 2018 - FINANCIAL REPORT FOURTH QUARTER OF 2017 RESULTS - Derived from consolidated interim financial information audited by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Loss R$ 446 million Production 2.767 mil boed Adjusted EBITDA R$ 76.557 million Results Petrobras reported a loss of... Continue Reading →

Statoil ASA, Norway’s biggest petroleum company, will change its name to Equinor as it seeks to broaden its energy reach beyond oil and gas production. “The world is changing, and so is Statoil,” said Chairman Jon Erik Reinhardsen in a statement. “The biggest transition our modern-day energy systems have ever seen is underway, and we... Continue Reading →