ONGC Videsh, the wholly-owned subsidiary and international arm of Oil and Natural Gas Corporation Limited (ONGC), India’s national oil company, and GeoPark, the Latin American oil and gas explorer, operator and consolidator, are pleased to announce the formation of a new long-term strategic partnership to jointly acquire, invest in, and create value from upstream oil... Continue Reading →

  February 27, 2018   The engineer Felipe Matoso is the new executive manager of Subsea Systems of Petrobras. Matoso, who was the general manager of Subsea Engineering, temporarily replaced Cristina Pinho, who recently retired. Petrobras also officially appointed Antônio Carlos Capeleiro Pinto as the first executive manager of the company's newly created Reservoir Management,... Continue Reading →

Rio de Janeiro, Brazil – February 26, 2018 - Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), further to the announcement released in February 22, 2018, has concluded the redemption of its USD 3.000% Global Notes due 2019, EUR 3.25% Global Notes due 2019 and... Continue Reading →

February 27, 2018 The Plenary of the Court of Auditors of the Union (TCU) declared the ineligibility of MPE Montajes e Projetos Especiais (MPE). With the decision, the company is prohibited from contracting with the federal public service for three years. MPE had contracts with several areas of Petrobras, ranging from maintenance of platforms to... Continue Reading →

The governor of Sao Paulo and likely centrist presidential candidate Geraldo Alckmin said on Monday that he would privatize Brazil’s state-run oil company Petroleo Brasileiro SA if he wins the elections in October. Read more

Offshore driller Seadrill has managed to reach a global settlement with an ad hoc group of bondholders, the official committee of unsecured creditors, and other major creditors in its chapter 11 cases. According to Seadrill, some 70% of the company’s bondholders by principal amount have now signed an agreement to support Seadrill’s restructuring. To remind, the... Continue Reading →

Rio de Janeiro, February 26th, 2018 – Petróleo Brasileiro S.A. – Petrobras, in compliance with article 12 of CVM Instruction 358 of January 3, 2002 and Circular Letter CVM/SEP/No001/2017, informs that it was notified by the National Bank for Economic and Social Development (“BNDES”) and BNDES Participações SA ("BNDESPAR"), a wholly-owned subsidiary of BNDES, that... Continue Reading →

Oil demand will remain strong through at least 2020, pushing spot costs for crude above futures pricing. That’s the message from Francisco Blanch, Bank of America’s head of commodities and derivative research. Electric vehicles won’t start biting into oil demand until at least 2020,  he said in a Bloomberg Television interview Monday. Blanch expects China to... Continue Reading →

The arrival of international oil companies (IOCs) is expected to change the market for drill rigs in Brazil. Transocean believes that increasing the participation of these companies in the country will help raise prices of daily rates, as well as create demand for new types of assets, different from the units usually demanded by Petrobras.... Continue Reading →