Offshore installation and construction company Subsea 7 has reported a rise in the third quarter revenue, but a drop in profit. The company’s revenue for the quarter ended September 30, 2017, was $1,06 billion, up from $928 million a year ago. Net income came in at $111 million, down from last year’s third quarter $149 million.... Continue Reading →
Brazil: Statoil hires two platform suppliers for Carcara work
Statoil Brasil Óleo e Gás Ltda., Statoil’s Brazilian subsidiary, has awarded contracts to a pair of Solstad Farstad’s platform supply vessels for operations off Brazil. Statoil said on Wednesday that it awarded Solstad Farstad with deals for the 2012-built Far Scotsman and the eight-year-old Far Serenade. The six-month firm deals for the two vessels will... Continue Reading →
U.S. to export large ethanol volume to Brazil despite tax
The United States will export a large volume of ethanol to Brazil in 2018 despite the 20 percent import tax implemented by the Brazilian government this year, analyst Platts Kingsman said on Wednesday. Platts estimates the United States will ship around 1.7 billion liters of ethanol to Brazil in 2018, compared to a projected 1.8... Continue Reading →
Petrobras Revision of the Transfer of Rights Agreement – Negotiation Committee
Rio de Janeiro, November 8, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that it has created an internal committee to negotiate the Revision of the Transfer of Rights Agreement with representatives of the Federal Government (Ministry of Mines and Energy, Ministry of Finance, and National Agency of Petroleum, Natural Gas and Biofuels - ANP).... Continue Reading →
Brazil rejects Saudi Arabia’s overtures on oil output cuts
Brazil has rejected an informal effort by Saudi Arabia to coax Latin America’s top oil producer into joining OPEC-led production cuts aimed at boosting prices that have been hit by oversupply, a Brazilian official said on Tuesday. Read more
Brazil’s Petrobras says court lifted injunction blocking stake sales to Total
NOVEMBER 7, 2017 / 9:45 AM / Reuters Staff SAO PAULO (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA (PETR4.SA) said a federal court lifted an injunction related to the sale of its stakes in projects on the Iara and Lapa oil exploration areas, according to a statement on Tuesday. The injunction was blocking... Continue Reading →
Sale of 100% equity interest in Petrobras Oil & Gas B.V.: Opportunity Disclosure – Teaser
Rio de Janeiro, November 7, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has initiated the opportunity disclosure stage (“Teaser”) related to the sale of 100% equity interest in Petrobras Oil & Gas B.V. (“POGBV”), a joint venture formed by Petrobras (50%), BTG Pactual E&P B.V. (40%) and Helios Investment Partners (10%). Petrobras... Continue Reading →
Nabors-Tesco deal gains anti-trust clearance in two key markets
Oil and gas drilling contractor Nabors Industries and oilfield services company Tesco Corporation have received approvals for the previously announced acquisition of Tesco by Nabors from two key regulators. Nabors announced the deal to acquire all of the issued and outstanding common shares of Tesco Corporation, with each outstanding share of common stock of Tesco being exchanged for... Continue Reading →
Reuters: Petrobras asks Odebrecht to stop drillship operation after fatal accident
Brazilian oil company Petrobras has reportedly asked offshore drilling contractor Odebrecht to stop operations of the Norbe VIII drillship, on which three workers died in June after an explosion. According to a Reuters report on Tuesday, Petrobras carried out an investigation into the causes of the accident that happened on the Marlim field in June.... Continue Reading →
Here Are Brazilian Presidential Hopeful Joao Doria’s Economic Proposals
Doria supports "gradually" selling off state-run oil giant Petrobras. “There is no need for Petrobras to keep being a state-owned company. Brazil is isolated in the world. We can’t be afraid to do what’s necessary to insert Brazil in the global and liberal economy,” he said. He is also in favor of privatizing Brazil’s electricity utility... Continue Reading →
Brazil Energy Insight 