Maria Moræus Hanssen has started as the new chief executive officer of DEA Deutsche Erdoel AG, an oil and gas company based in Germany and owned by LetterOne. Following her appointment in September 2017, Maria Moræus Hanssen on Thursday, January 4 succeeded Thomas Rappuhn who spent eight years as DEA CEO. Read more
Diamond, Petrobras settle lawsuit over early rig contract termination
Offshore driller Diamond Offshore and Brazilian oil company Petrobras have settled a lawsuit related to an early rig contract termination back from 2016. In August 2016, Diamond Offshore Drilling received notice of termination from Petrobras of its drilling contract on the Ocean Valor semi-submersible drilling rig. The drilling contract was originally estimated to conclude in... Continue Reading →
Wilson Sons Ultratug Offshore clinches three long term charters with Petrobras
Wilson Sons Ultratug Offshore has secured long term work for three of its vessels with the Brazilian oil giant Petrobras. The offshore shipping company is a joint venture (JV) between the Brazilian shipbuilding company, Wilson Sons and Chilean services provider Ultramar. Read more
Global oil exploration spend to drop further in 2018. Big wells mainly in deepwater
Global oil exploration investments in 2018 are expected to be lower than in 2018, despite the rise in oil prices. Energy intelligence group Wood Mackenzie expects most oil companies will stay cautious and "well counts will remain stubbornly low.“ “Competition for the best opportunities will be fierce. However, the industry’s focus on reducing costs in... Continue Reading →
Fiscal notification on remittances abroad for payments of vessel charters
Rio de Janeiro, January 2, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that received today a fiscal notification by the Federal Revenue of Brazil, requiring payment of withholding income tax (IRRF), contribution of intervention in the economic domain (CIDE) and social contributions (PIS and COFINS) on remittances abroad for payment of vessel charters, regarding... Continue Reading →
Petrobras to pay $2.95 billion to settle U.S. class action over corruption
Brazil’s state-controlled oil company, Petroleo Brasileiro SA (PETR4.SA), said Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors seeking to recoup money they claim to have lost as a result of a corruption scandal. Read more
Solstad Farstad lands long-term contract in Argentina
Norwegian offshore shipping company Solstad Farstad has been awarded a charter contract in Argentina for one of its construction support vessels (CSVs). Solstad Farstad informed on Tuesday it has entered into a bareboat contract with Bahia Grande LN S.A for the CSV Normand Commander for operation in Argentina. Read more
Bassoe: Everything you need to remember about the offshore drilling market in 2017
Dayrate and utilization trends for offshore drilling rigs have only improved marginally this year, but a lot has still happened in the market. Here's our overview of 2017's highlights. See Report: 2017-offshore-market-review-bassoe-offshore-paginated
Blackstone’s Byron Wien’s List of 2018 Surprises Includes a Stock Correction and $80 Oil
Stock speculation will get ahead of itself in 2018, leading to a short correction for the S&P 500, while oil will vault above $80 as “populism, tribalism and anarchy spread around the world,” according to Byron Wien’s annual list of surprises. Read more
DOF Subsea/ROV contracts in Brazil
DOF Subsea, a subsidiary of DOF ASA has been awarded two new ROV contracts by Petrobras in Brazil for ROVs to be installed on board Skandi Angra and Skandi Paraty. The new contracts start in April 2018 and end in September and November 2020, respectively. Further, Petrobras has extended two ROV contracts for the ROVs... Continue Reading →
Brazil Energy Insight 