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Brazilian oil and gas company Queiroz Galvão Exploração e Produção (QGEP), a Queiroz Galvão Group company, has hired one of Solstad Farstad’s anchor handling tug supply (AHTS) vessels for work off Brazil. Solstad Farstad said on Monday that the vessel in question was the AHTS BOS Turmalina. Namely, the company was awarded a two-year firm... Continue Reading →
After recording record levels of production in Brazil, with the help of important pre-salt areas, Repsol Sinopec, controlled by the Spanish company Repsol, plans to work on the consolidation of its assets in the coming years, maintaining the extraction between 90 and 100 thousand barrels of oil equivalent day by 2020. The president of the... Continue Reading →
Rio de Janeiro, August 14, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 7/7/2017, informs the start of the non-binding phase regarding the sale process of its assets in Paraguay. At this stage of the project, the descriptive memorandum is sent to interested parties qualified in the previous phase,... Continue Reading →
Former Petroleos Mexicanos Chief Executive Officer Emilio Lozoya denied media reports that he received $10 million in an alleged bribery scheme involving Brazilian construction company Odebrecht SA in Mexico. “I have never participated in acts of corruption. These publications have lied repeatedly on this and other issues, and have never proven their allegations,” Lozoya said... Continue Reading →
August, 2017 Petrobras acted fast and has already chosen the companies that will replace UTC in the maintenance work of platforms in the Campos Basin. The winners were G & E, Actmium, VINCI Energies Group and CSE, which had 70% of the company bought by Aker Solutions. What was only UTC was divided into... Continue Reading →
Rio de Janeiro - August 10, 2017 - SECOND QUARTER OF 2017 RESULTS - Derived from consolidated interim financial information reviewed by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Net income R$ 4,765 billion Production 2.791 Mbbl/d Adjusted EBITDA R$ 44,348 million Main financial highlights Net Income of R$ 4,765 million... Continue Reading →
Dutch provider of floating production systems to the international offshore oil and gas industry, SBM Offshore, has sold its previously demobilized FPSO Marlim Sul for recycling. SBM said in its 2017 half-year financial results this week that the FPSO, removed from the Petrobras-operated oil field, was sold for recycling and transferred off the balance sheet... Continue Reading →
Brazilian company GranInvestimentos and Dutch company Royal IHC are joining forces to deliver integrated life cycle solutions to customers in the oil and gas sector. Through this partnership, both companies are set to increase their operational and service activities, and expand their presence in Latin America, Royal IHC said in a statement on Thursday. The association... Continue Reading →
Petróleo Brasileiro SA missed second-quarter profit estimates by a large margin after joining a tax refinancing program, putting the brakes on efforts by Brazil's state-controlled oil producer to cut the largest debt burden among major global oil firms. Net income came in at 316 million reais ($99.54 million) last quarter, down from 4.449 billion reais... Continue Reading →
Rio de Janeiro, August 10, 2017 - Petróleo Brasileiro S.A. – Petrobras reports the discovery of oil accumulation in the Campos Basin’s pre-salt layer, in the area of Marlim Sul field. This is the first commercial discovery of oil in the pre-salt layer of the Marlim Sul area. The discovery occurred during drilling of well... Continue Reading →
Brazil Energy Insight 