Rio de Janeiro, February 23, 2018 - Petróleo Brasileiro SA - Petrobras informs that it signed today, with the Brazilian federal Environmental Agency (Ibama), Term of Commitment that establishes the necessary actions and measures, during the transition period of two years, to adjust the water disposal process produced from some of Petrobras’ offshore production platforms... Continue Reading →
Schlumberger and Subsea 7 in talks to create joint venture
Schlumberger and Subsea 7 have entered into exclusive negotiations to form a joint venture that builds on the success of Subsea Integration Alliance, which was established in 2015. Subsea Integration Alliance currently combines the subsurface expertise, subsea production systems (SPS) and subsea processing systems of OneSubsea with the subsea umbilical, riser and flowline systems (SURF)... Continue Reading →
MME admits evaluating Local Content review for Round 4 Bidding
Representatives of the national industry charged on Thursday, 22, in a public hearing of the National Petroleum, Natural Gas and Biofuels Agency (ANP), that the announcements of the 4th Round of Production Sharing Bid and the 15th Round of Bidding for Concessions include more local content than in the rounds held last year. They... Continue Reading →
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
Sembcorp Marine posts loss. Doesn’t expect quick pick-up in rig orders
Singapore’s rig builder Sembcorp Marine has warned it might take some time for offshore rig orders to recover, despite the increase in the global exploration and production (E&P) capex, boosted by higher oil prices. The company has this week posted a net loss of $33.8 million in the fourth quarter of 2017, compared to a profit... Continue Reading →
McDermott back to black as revenues increase
Houston-based engineering, procurement, construction and installation company McDermott International wrapped up 2017 with a fourth-quarter profit of $25.5 million. According to McDermott’s financial report announced on Wednesday, the company returned to the black with earnings of $25.5 million in the last quarter of 2017, compared to a net loss of $0.5 million for the same... Continue Reading →
Petrobras 10000 rig to resume work after fatal incident in December
Transocean’s Petrobras 10000 drillship on which an offshore worker died after sustaining a fatal injury in an incident in December 2017 is set to resume work soon. At the time of the incident, the drillship, owned by Transocean, working for Petrobras, was located in an area of the Gulf known as Walker Ridge 469, about 172... Continue Reading →
Petrobras seeks ultra-deepwater drilling rigs
Petrobras has launched a market inquiry to verify the availability of a drilling rig for 3,900 m of water depth. The RFI (request for information) was released earlier in the year, without the oil company indicating the deadline for delivery, charter time or destination lease of the unit, and was due for delivery by February... Continue Reading →
Majors registered for the 15th Round
Some of the biggest majors present in Brazil have signed up to bid for offshore areas in the 15th Round. BP, Chevron, Exxon, Repsol, Shell and Total are already qualified for the auction, as well as Petrobras. The ANP released a list with the approval of 13 of the 17 companies that have registered to... Continue Reading →
Petrobras announces redemption prices for three series of notes
RIO DE JANEIRO, BRAZIL – February 22, 2018 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices to holders in connection with its redemption of the outstanding 3.000% Global Notes due 2019 (“3.000% Notes”), 3.25% Global Notes due 2019 (“3.25% Notes”) and... Continue Reading →
Brazil Energy Insight 