December 7, 2017 The ANP board approved the transfer of 35% of Petrobras' stake and the operation of the Lapa field, in the pre-salt Santos Basin, to Total. The agency's board decided to segregate the Lapa development area into a new concession agreement. The acquisition of 35% of the field of Lapa is part of... Continue Reading →
China’s $160 Billion Energy M&A Binge Was Bad for Most Investors
If history is any guide, investors in China’s biggest oil companies may lose out as a record $35 billion in cash is tapped for a fresh round of deals, according to Sanford C. Bernstein & Co. LLC. Most of their $160 billion-plus worth of M&A during the past two decades has destroyed rather than added to... Continue Reading →
Brazil cuts rates to all-time low, hints at smaller Feb cut
Brazil’s central bank cut interest rates to an all-time low on Wednesday and hinted at a smaller reduction early next year, although it said it would be extra cautious going forward. The bank’s nine-member monetary policy committee, known as Copom, cut the benchmark Selic rate by 50 basis points to 7.00 percent, capping a 725... Continue Reading →
Samsung Heavy Has Record Plunge on Share Sale, Loss Forecast
Samsung Heavy Industries Co. plunged the most on record in Seoul trading after forecasting surprise losses and announcing a share sale plan, underscoring the bleak outlook for the global shipbuilding industry. Read more
Worker dies aboard Petrobras 10000 drillship in Gulf of Mexico
A worker died in an incident aboard the Petrobras 10000 drillship in the U.S. Gulf of Mexico last week. Brazilian oil company Petrobras said the crewmember passed away early Saturday, December 2, 2017, “as a result of an incident. Read more
Historic Rate Cut to Record Low Shows Brazil Return to Normalcy
Brazilian central bank governor Ilan Goldfajn is getting the thumbs-up from investors to cut the country’s benchmark interest rate to a record low on Wednesday. With inflation well within the target range, idle capacity, and fewer price distortions, Goldfajn can bring the country’s Selic rate to 7 percent, around half of the level just over... Continue Reading →
Pre-payment of debt and New Financing with China Development Bank
Rio de Janeiro, December 5, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has signed yesterday with China Development Bank (CDB) a financing agreement of US$ 5 billion with maturity in 2027. On the same date, Petrobras also signed a commercial agreement with Unipec Asia Company, establishing a preferential supply of 100 thousand... Continue Reading →
SUBSEA 7 BECOMES AIRBORNE OIL & GAS SHAREHOLDER
Subsea 7 became a shareholder in Airborne Oil & Gas (AOG), which manufactures Thermoplastic Composite Tube (TCP) for oil and gas applications. And Brazil was a key player in completing the deal, according to Airborne CEO Marnix Boorsma. "The significant presence of Subsea 7 in Brazil, a key region for AOG's activities, supports our... Continue Reading →
Brookfield sees very large appreciation of assets in Brazil in 5 to 10 years
RIO - The assets that Brookfield acquired in Brazil, such as the Nova Transmissora do Sudeste (NTS), or in other investments in the country, such as new transmission lines, should have a "very large" appreciation in five to ten years, according to the company's head of operations in Latin America and executive director of Brookfield... Continue Reading →
Argentina: ION adds 30,000km of multi-client seismic data
ION Geophysical will put on offer over 40,000 kilometers of 2D multi-client data offshore Argentina in advance of the 2018 licensing round. The seismic data company said on Monday it had delivered a regional framework consisting of approximately 30,000 kilometers of data over the Austral and Malvinas basins, considered a relatively under-explored petroleum region. Read... Continue Reading →
Brazil Energy Insight 