Decal do Brasil co-founder Mariano Marcondes Ferraz was found guilty on corruption charges and sentenced to over 10 years in prison on Monday for bribing a former executive at state-run oil company Petroleo Brasileiro to win contracts for Ferraz’s own firm. Judge Sergio Moro found Ferraz guilty of paying $868,450 to Petrobras’ ex-director of refining... Continue Reading →

The government of oil-rich Guyana is reviewing an ‘Oil and Gas Master Plan’ for Guyana, which was developed and submitted by Mitsubishi Corporation and Chiyoda Corporation in collaboration with the government of Japan. Just last week ExxonMobil reported its seventh oil discovery located offshore Guyana. Exxon said it had encountered approximately 65 feet (20 meters) of... Continue Reading →

  This year should see Brazil's recovery deepen, but also holds the risk of a presidential election derailing it Petroleum Economist After a promising 2017, this year looks set to be a busy and productive one for Brazil's oil industry. The market re-opening will be consolidated with new acreage offers, important pre-salt projects are coming... Continue Reading →

05/03/18   Petrobras has found evidence of oil from drilling a deepwater well in the Marlim Leste field in the Campos Basin. Well 9-MLL-79D-RJS was started on January 20, at a water depth of 1,691 m. Still no data on completion. The well was drilled by Norbe IX, from Ocyan. The company has invested in... Continue Reading →

Total submitted to IBAMA an update on the schedule for the nine-well drilling project in the area of ​​the five exploration blocks that it has acquired in the Basin of Foz do Amazonas in the 11th round of the ANP held in 2013. The company plans to start mobilizing the DS- 9, of Ensco, in... Continue Reading →

Rio de Janeiro, March 2, 2018 - Petróleo Brasileiro S.A. – Petrobras reports that it received today, Official Letter no. 312/2018-SAE, which requests the following clarifications: Official Letter no. 312/2018-  SAE “Dear Gentlemen, The news article published on the website of the newspaper Folha de São Paulo, on 3/2/2018, under the headline "Petrobras decide vender... Continue Reading →

Rio de Janeiro, March 5, 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 February 28, 2018 it manages share interests... Continue Reading →

U.S.-based Oceaneering has acquired Scotland’s Ecosse Subsea, a provider of offshore engineering, seabed preparation, route clearance and trenching services to the renewable energy and oil and gas industries, for approximately 50 million pounds sterling (about $70 million). Headquartered in Aberdeen, Scotland, Ecosse builds and operates seabed preparation, route clearance and trenching tools for submarine cables... Continue Reading →

   Maersk on Friday won a key approval to sell its energy unit to Total S.A., with the Danish Energy Agency giving the green light to the $8 billion deal. But the authority made it a condition that Maersk pay for the eventual decommissioning of North Sea infrastructure (such as platforms and pipes), if Total... Continue Reading →

“The U.S. is set to put its stamp on global oil markets for the next five years,” IEA Executive Director Fatih Birol said in a report published Monday. OPEC’s surging rivals, which also include Brazil and Canada, will leave little space for the cartel to expand even after its production curbs expire this year. Read... Continue Reading →