Rio de Janeiro, February 28, 2018 - Petróleo Brasileiro S.A. - Petrobras, further to the Press Releases disclosed on 6/30/2017, 8/28/2017 and 11/22/2017, reports that the Court of the Administrative Council of Economic Defense (CADE) evaluated the Act of Concentration no. 08700.002155/2017-51, related to the sale of Liquigás Distribuidora S.A., a wholly-owned subsidiary of Petrobras,... Continue Reading →
Subsea 7 to take over Siem’s cable lay business
UK engineering, construction and services company Subsea 7 has signed an agreement to acquire Siem Offshore Contractors and two vessels, subject to competition clearance in Germany. The acquisition will include the entire issued share capital of Siem Offshore Contractors, the inter-array cable lay vessel Siem Aimery and the support vessel Siem Moxie. The acquisition will... Continue Reading →
Borders & Southern gets Darwin estimate. Hopes to attract partners for further drilling
Borders & Southern, a UK-based oil and gas exploration company with offshore assets in the Falkland Islands, is optimistic about its Darwin assets following an independent resource review. Namely, the company on Wednesday said the independent evaluation of the Darwin East discovery and the adjacent Darwin West untested fault block lead to a substantial increase... Continue Reading →
Guyana: Exxon confirms Pecora find. Plans to link it to Payara FPSO
ExxonMobil has officially confirmed making the Pecora-1 oil discovery in the Starbroek block, offshore Guyana, and it already has plans on how it wants to develop the latest find. To remind, Guyanese authorities issued a brief report of the discovery earlier today without providing much detail on the size of it. In a subsequent announcement... Continue Reading →
Petrobras one step closer to sale of two shallow water fields
Brazilian oil company Petrobras is making headway with plans to sell its entire interest in two shallow water fields located in the Campos Basin off the coast of Rio de Janeiro as part of a wider divestment program. Petrobras revealed its intention to divest its interests in seven sets of shallow-water fields (total of 30... Continue Reading →
Total enters the Brazilian marine lubricants market
2/28/18 To grow up to 20% in 2018, Total - the fourth largest oil and gas company in the world - begins to compete in the market for marine lubricants in Brazil. With a range of premium products focused on fleets of local and international vessels and power plants, Total Lubmarine will initially service more... Continue Reading →
Which Companies Have Changed Brands Because of the Car Wash Scandal
Odebrecht Oil and Gas is now called Ocyan. The strategy is a measure to try to disassociate the company's image from the Car Wash investigations. The Odebrecht Group is undoubtedly the one whose brand was most affected by the corruption scandals reported by the operation. Its former president, Marcelo Odebrecht, was imprisoned for two... Continue Reading →
Petrobras Divestment Opportunities in Shallow Water Fields: Start of the binding phase for Enchova and Pampo Clusters
Rio de Janeiro, February 27, 2018 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on July 28, 2017 and press release disclosed on October 4, 2017, informs the start of the binding phase regarding the assignment of all of its exploration, development and production rights in Enchova and Pampo Clusters, located... Continue Reading →
Fitch Ratings reviews Petrobras’ risk rating
Rio de Janeiro, February 27, 2018 - Petróleo Brasileiro SA - Petrobras informs that Fitch Ratings reviewed the company's corporate debt rating from BB, with a negative outlook, to BB-, with a stable outlook. This revision is due to the downgrading of the sovereign risk level, announced by the agency on 02/23/2018.
Fitch cuts Brazil rating, cites failure to vote on pension reform
Fitch Ratings cut Brazil’s credit rating further into junk territory on Friday, saying the country’s failure to put a social security overhaul to a vote undermines public finances. The cut to BB-minus from BB, with a stable outlook, mirrors rival rating agency S&P’s downgrade in January. Read more
Brazil Energy Insight 