OPEC agreed to extend its oil-production cuts to the end of next year as the job of rebalancing the market is not yet done, according to delegates at a ministerial meeting in Vienna.  Talks have now moved on to the mechanism that will be used to review the agreement in mid-2018, the delegates said, asking... Continue Reading →

  The board of the ANP approved on November 28 the beginning of the process of permanent supply of areas for exploration and production of oil and natural gas. The process, provided for in article 4 of CNPE Resolution 17/2017, provides for the continuous supply of fields returned (or in the process of being returned),... Continue Reading →

Norwegian shipping company Siem Offshore has ended negotiations to sell its cable lay business at the same time revealing the identity of the interested party. The shipping company revealed it was in negotiations with an unnamed potential buyer for its cable lay business Siem Offshore Contractors GmbH earlier in November. However, these talks have now been terminated,... Continue Reading →

Brazil’s lower house of Congress on Wednesday approved the basic text of a decree that extends for 20 years a preferential customs regime for the oil industry, a measure that has helped make Brazil attractive again to major global oil companies. The chamber must still vote next week on several amendments to the presidential decree,... Continue Reading →

The ANP presents the publication of the booklet "Oil and Gas Opportunities in Brazil 2017 - 2019 Bidding Rounds" that provides information on the areas for exploration and production to be offered in the 14th, 15th and 16th Bidding Rounds in the concession regime and also the areas of the 2nd, 3rd, 4th and 5th... Continue Reading →

Norway’s Statoil ASA will focus exploration on its home turf next year as it seeks more oil and gas to run through existing platforms rather than gigantic deposits in frontier areas.  While global plans aren’t yet complete, it’s clear that the bulk of efforts will be in the company’s own backyard, exploration head Tim Dodson said Tuesday.... Continue Reading →

Cie. Maritime Belge SA has built the first commercial ship that runs on hydrogen and produces zero pollution, taking the world a step closer to cargo without emissions. Read more

Credit ratings agency Standard and Poor’s has revised its outlook for oil major Total from negative to stable. S&P affirmed its ‘A+’ long-term and ‘A-1’ short-term corporate credit ratings on the company. “The outlook revision reflects our view of Total’s strengthening cash flow generation. The strengthening reflects robust downstream performance, moderating capital expenditures (capex), and... Continue Reading →