The definitive regulation of the waiver for contracts awarded since 2005 is going to follow the rules suggested by the ANP in December. At the time, the suggestion made by the agency was 50% local content for E & P in onshore projects, 18% in offshore blocks and three stages for offshore development, 25%... Continue Reading →
Temer’s failure on Brazil pension reform leaves tricky task to successor
President Michel Temer’s decision to throw in the towel on reforming Brazil’s loss-making pension system leaves the unpopular measure as a campaign issue for October’s elections and a major headache for his successor. Read more
Petrobras Oil and natural gas production in January
Rio de Janeiro, February 21, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in January was 2.70 million barrels of oil equivalent per day (boed), with 2.60 million boed produced in Brazil and 97 thousand boed produced abroad. Total production operated by the company (portions of Petrobras... Continue Reading →
BP Sees Electric Future With Oil Demand Peaking in 2030s
The future is electric for BP Plc, though it’s not giving up on oil just yet. The British company bumped up its forecast for electric vehicles by 80 percent to 180 million by 2035, according to an energy outlook released Tuesday. It expects a third of the miles driven in 2040 will be powered by electricity.... Continue Reading →
Natural Gas Industry Surprised It Could Be So Much Cleaner
The natural gas industry may be one of its own worst enemies. Most energy executives underestimate how much they can cut emissions as they extract and transport natural gas, according to a survey by the Energy Institute. Producers can reduce greenhouse gas flows by 75 percent simply by improving practices in the supply chain of the fuel, which consists... Continue Reading →
Shell develops water collection system for FPSOs
Focused on creating and developing new technologies to reduce costs and increase productivity, Shell has entered into an agreement with the University of São Paulo (USP) and SBM Offshore on a deep water cooling system for floating platforms of the FPSO type, with a planned investment of up to US $ 2 million. The... Continue Reading →
ExxonMobil takes Bristow helicopters for Guyana ops
Offshore helicopter services provider Bristow has secured a multi-year contract to provide helicopter offshore crew change and search and rescue (SAR) services to support ExxonMobil in Guyana. The five-year deal, which is a renewal of an existing contract, started on January 1, 2018, Bristow said on Monday. Read more
Karoon gains nod to change work program off Brazil
Australia’s Karoon Gas has received an approval from Brazilian authorities to change the work program on its blocks offshore Brazil in favor of progressing Echidna and Kangaroo projects to a future development phase. Karoon has a 100% equity interest in Blocks S-M-1037, S-M-1101, S-M-1102, S-M-1165 and S-M-1166 in the Santos Basin located approximately 200 kilometers... Continue Reading →
Helix Energy back to profit in 4Q
Houston-based offshore energy services company Helix Energy Solutions Group returned to profit in the fourth quarter 2017 from a loss in the prior-year period boosted by higher revenues and tax benefits. Helix Energy on Monday reported net income of $50.6 million for the fourth quarter of 2017 compared to a net loss of $54.4 million for the... Continue Reading →
Brazil Energy Insight 