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The “magic” of $50 oil is now in the sights of deep-sea drillers as they try to lure customer spending from shale wells on land. And after more than three years of pain, that prospect has some investors excited. Transocean Ltd. rose the most in more than eight months after the world’s biggest provider of offshore rigs... Continue Reading →
08/03/2017 Parque das Baleias in the Campos Basin. Petrobras held a scheduled 20-day shutdown on the P-58 platform, the largest unit of the oil company in production volume. According to technicians from Elfe, the company responsible for the shutdown, the services of improvements in the design of the platform were carried out successfully. The P-58 is installed in... Continue Reading →
Brazil President Michel Temer has survived a massive corruption scandal with a victory in the lower house that allows him to cling to power and focus back on the economy. Temer allies on Wednesday defeated the motion that would have put him on trial and forced him to step aside, with 263 against 227 votes.... Continue Reading →
The company filed the recovery process on October 30, 2013, with debts in excess of R $ 13.8 billion OGPAR ( OGXP3 ), formerly OGX Petróleo, reported on Wednesday that the 4th Business Court of the District of Rio de Janeiro has ordered the closure of the company's judicial recovery process. The company filed the recovery process on... Continue Reading →
Thursday, 03 August 2017 Queiroz Galvão Exploration and Production (QGEP) plans to start its first deep-water oil production in early 2018 at the Atlanta Field, in the post-salt area of the Santos Basin. The delay in the project, according to QGEP CEO Lincoln Guardado, is due to the delay in the execution of the... Continue Reading →
ION Geophysical Corporation on Tuesday announced a new 3D multi-client broadband reimaging program offshore Brazil. Supported by industry funding, the Picanha program provides a regional 3D framework that delivers fresh insights into the complex Campos and Santos basins’ petroleum systems ahead of upcoming license rounds, the company said. By using ION’s latest broadband processing and... Continue Reading →
Brazilian President Michel Temer is widely expected to avoid a corruption trial by winning a congressional vote Wednesday. But the final tally could signalwhether he still has enough support to push through economic measures that have been championed by investors. Read more
Galp is studying the upcoming auctions for the attribution of oil exploration areas in Brazil. By 2019, there will be nine auctions in Brazil with the next bids in September and October this year. "We are preparing for the next bids in Brazil," Galp's chief executive said Monday in a meeting with analysts. "We now have... Continue Reading →
Rio de Janeiro, July 31, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that the Board of Directors of its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR) approved today the reelection of Mr. Ivan de Sá Pereira Júnior to the position of CEO of BR for a two-year term. The Board of Directors also approved the... Continue Reading →
Oil majors are raking in more cash now than they did in the heyday of $100 oil, according to Goldman Sachs Group Inc. Integrated giants like BP Plc and Royal Dutch Shell Plc have adapted to lower prices by cutting costs and improving operations, analysts at the bank including Michele Della Vigna said in a research note Wednesday.... Continue Reading →
Brazil Energy Insight 