World’s largest FPSO supplier SBM Offshore will shut down its Brasa yard in Brazil where it integrates FPSO units’ hulls and modules, taking a $20 million impairment. Apart from this, SBM also took a $25 million impairment on its Floating Production Unit business. The Dutch company said that despite Brazil being its key market, with... Continue Reading →

Brazilian oil company Petroleo Brasileiro SA could receive some 30 billion reais ($7.9 billion) from the government in a renegotiation of the “transfer of rights” oil contract, a person following the process told Reuters on Wednesday. The money to pay state-controlled Petrobras, as the company is known, would come from a potential auction of excess... Continue Reading →

Rio de Janeiro, November 14, 2018 – Petróleo Brasileiro S.A. – Petrobras, in compliance with article 12 of CVM Instruction no. 358, dated of 1/3/2002, reports that it was notified by BlackRock, Inc. ("BlackRock") that the latter has acquired preferred shares issued by the company and as of November 9, 2018 it manages share interests... Continue Reading →

Rio de Janeiro, November 14, 2018 – Petróleo Brasileiro S.A – Petrobras informs that yesterday it received the payment of the diesel economic subvention, in the total amount of R $ 1.051 billion, related to the 1st period of the 3rd phase of the program (from 08/01/2018 to 08/30/18) and the monetary adjustment of amounts... Continue Reading →

11/13/18 Announcement issued by Petrobras foresees acquisition of approximately 60 km of lines for the field of Mero, in Libra Petrobras has launched a tender to contract steel umbilicals (STUs) for the Mero field in the Libra area of ​​the Santos Basin pre-salt. The announcement provides for the purchase of approximately 60 km of lines,... Continue Reading →

11/13/18 Qualifying process enters the final stretch and price opening is expected for this week The Libra consortium will open commercial bidding proposals this week to charter two drilling rigs for the Mero project, operated by Petrobras, in partnership with Shell, Total, CNPC and CNOOC. The expectation is that it will happen this Wednesday and... Continue Reading →

Baker Hughes, a GE company, and General Electric have signed a series of agreements meant to accelerate the orderly separation of BHGE from GE. BHGE said on Tuesday that the agreements focus on long-term collaboration on critical rotating equipment, including aero-derivative and heavy-duty gas turbine technology as well as access to GE Digital’s software and... Continue Reading →

November 13, 2018 ExxonMobil has initiated two environmental licensing fronts for the areas it has won in the 14th and 15th rounds and in the 3rd, 4th and 5th pre-salt auctions held since September 2017. There are up to 22 exploratory wells to be drilled, two of which are firm , one on the CM-789... Continue Reading →

DOF Subsea, a subsidiary of DOF Group, reported loss in the third quarter of 2018 of NOK 98 million ($11.5 million), compared to profit of NOK 138 million ($16.2 million) in the corresponding period in 2017. Year-to-date result for 2018 also came out negative, with loss of NOK 182 million ($21.4 million), against profit of... Continue Reading →