Oilfield services provider Baker Hughes, a GE company, recorded a profit during the third quarter of 2018 driven by a 7% increase in revenues when compared to the prior-year period. According to its financial report published on Tuesday, Baker Hughes’ revenue for the third quarter was $5.7 billion, up $118 million or 2% sequentially and up... Continue Reading →

Senate leader Fernando Bezerra (MDB / PE) will try to include on Tuesday's House of Representatives session an urgent request to vote on PLC 78/2018, which frees Petrobras to sell up to 70 % of the areas of onerous assignment and provides guidelines for the auction of the excess. The senator, with a request with... Continue Reading →

Teekay Offshore Partners L.P. (NYSE:TOO) (Teekay Offshore or thePartnership) announced today that certain of its subsidiaries have entered into a settlement agreement with Petróleo Brasileiro S.A. and Petroleo Netherlands B.V. – PNBV S.A. (together Petrobras) with respect to various disputes relating to the previously-terminated charter contracts of the HiLoad DP unit and Arendal Spirit unit for maintenance and safety (UMS). As part... Continue Reading →

  October 29, 2018 Petro Rio has just increased its stake in the Frade field, in the Campos Basin, after the purchase of Frade Japan Petroleum - which holds a 18.26% stake in the concession. The announcement of the acquisition was made on the 29th, but the value of the deal was not disclosed. After... Continue Reading →

Rio de Janeiro, October 29, 2018 - Petróleo Brasileiro SA - Petrobras, following up on the release disclosed on 09/28/18, informs that, due to the methodology determined in the National Petroleum Agency (ANP) Resolution nº 743, of 08/27/18, the average price of diesel established by the company in its refineries and terminals will be R$... Continue Reading →

Petroleo Brasileiro SA is close to announcing a sale of its stake in an African oil and gas exploration business to a group of investors led by Vitol Group, people familiar with the matter said. The state-run oil company’s partners in the African operations, Brazil’s Banco BTG Pactual and the U.K.’s Helios Investment Partners, have... Continue Reading →

RIO DE JANEIRO (Bloomberg) -- Brazil’s President-elect Jair Bolsonaro is staring at an oil windfall. After a decade of stagnant production, Brazil’s offshore mega-projects are about to deliver a double whammy with exports set to surge and Brent prices comfortably above $70/bbl. This means more revenue for a country beset with fiscal deficits, and more... Continue Reading →

Noble Tom Madden drillship has reportedly arrived in Guyana where it will be used by ExxonMobil for offshore drilling works. As per the previous fleet status report by Noble, the 2014-built drillship Noble Tom Madden’s contract with ExxonMobil should’ve started in mid-October 2018 with an end date in December. Read more

10/29/18 Agency will organize a workshop to discuss benchmarking, best practices and lessons learned   The ANP will organize, possibly in the second half of November, an event with the oil and gas operators to discuss local content inspection, the milestone of the development stage, lessons learned and good practices. After this event, agency will... Continue Reading →