SUGAR LAND, Texas -- FairfieldNodal’s project to acquire and process high-resolution 3D marine seismic for the Libra consortium has left port for deeper waters to begin work. This consortium is led by Petrobras, and includes Total SA, Royal Dutch Shell Plc, China National Petroleum Corp and CNOOC. The Libra project, FairfieldNodal’s first such project offshore... Continue Reading →
Petrobras – Oil and natural gas production in September
Rio de Janeiro, October 18, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in September was 2.79 million barrels of oil equivalent per day (boed), with 2.68 million boed produced in Brazil and 106 thousand boed produced abroad. The average oil production in the country was 2.17... Continue Reading →
Sins of Past to Haunt Petrobras Worker Paychecks 18 Years Into Future
The sins of the past are about to follow 80,000 active and retired Petrobras workers 18 years into the future. That’s the time frame for a plan, nearing approval, that will trim their monthly paychecks by as much as 40 percent to keep their private pension fund solvent. The cutbacks proposed by Petroleo Brasileiro SA target a... Continue Reading →
Oil’s Biggest Rigs Head to the Junkyard
Transocean Ltd. is finally sending Pathfinder to its grave, after two years in a Caribbean purgatory that cost about $15,000 a day. The move by the world’s biggest offshore-rig operator signals just how bleak the future looks for deepwater drilling. Pathfinder is the most famous of six floating rigs the company is scrapping in burials that... Continue Reading →
Sale process of Iara and Lapa fields to Total
Rio de Janeiro, October 17, 2017 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the press release disclosed on October 11, 2017, informs that it was summoned yesterday of the decision of the 3rd Federal Court of Sergipe that granted an injunction, in a class action, establishing the suspension of the transfer of 22.5% of... Continue Reading →
Moody’s upgrades Petrobras ratings to Ba3 and stable outlook
Decision is made on improvement of liquidity, deleveraging, administrative discipline and strengthening of corporate governance By Marta Nogueira, Reuters Posted on Oct 17 2017, 12h38 Rio de Janeiro - Risk rating agency Moody's upgraded Petrobras' credit rating to Ba3, ahead of B1, and changed its outlook from positive to stable, according to a statement released on Tuesday. The... Continue Reading →
US oil major Chevron expected to participate in the auction of block ‘Norte de Carcará’
US oil major Chevron is expected to participate in the auction of the block "Norte de Carcará", the biggest jewel of the ANP auction, on the 27th of October. The oil reserves are estimated at 2 billion barrels and has a signing bonus of R$ 3 billion or approx. U$1 billion.
Maersk oil unit purchase by Total approved unrestricted by Brazilian authorities
The acquisition by the French oil company Total of the oil and gas assets of the Danish Maersk was approved unrestricted by the Administrative Council for Economic Defense (Cade), according to a Brazilian antitrust notice published in the Official Gazette on Tuesday. The companies announced an agreement at the end of August, under which Total... Continue Reading →
Gulf of Mexico Oil Spill May Be Largest Since 2010 BP Disaster
The Delta House floating production facility about 40 miles (64 kilometers) southeast of Venice, Louisiana, released 7,950 to 9,350 barrels of oil from early Wednesday to Thursday morning, according to closely held operator LLOG Exploration Co. That would make it the largest spill in more than seven years, data from the U.S. Bureau of Safety and Environmental Enforcement... Continue Reading →
Public offering of Petrobras Distribuidora (BR) Shares
Rio de Janeiro, October 16, 2017 - Petróleo Brasileiro S.A. - Petrobras, further to the Material Fact disclosed on September 28, 2017, reports that the following were filed with the Securities and Exchange Commission of Brazil ("CVM"), on this date: 1) by Petrobras Distribuidora S.A. (BR), the request for registration as a publicly-held company pursuant... Continue Reading →
Brazil Energy Insight 