Wed Jun 14, 2017 The logo of Petrobras, state-controlled Petroleo Brasileiro SA, is seen at their President Bernardes Refinery in Cubatao, Brazil June 8, 2017. REUTERS/Paulo Whitaker Brazil's state-controlled oil company Petroleo Brasileiro SA reduced on Wednesday its average prices at refineries by 2.3 percent for gasoline and 5.8 percent for diesel, the company said... Continue Reading →
Norway’s oil production: ‘Almost 50 years in and still not halfway done’
Norway has been producing oil and gas for almost half a century, since the first production at the Ekofisk field in 1971. According to the Norwegian Petroleum Directorate, when it comes to oil and gas production, the Scandinavian country is not halfway done yet. Since 1990, total resources, including the estimate for undiscovered resources in... Continue Reading →
Shareholders say Yes! to Wood Group-Amec FW merger
Wood Group and Amec Foster Wheeler have approved Wood Group’s recommended all-stock offer for Amec Foster Wheeler. The offer was launched by Wood Group back in March, under which each Amec Foster Wheeler shareholder will receive for each Amec Foster Wheeler share 0.75 new Wood Group shares. Read more
Benthic’s PROD Aces Libra
Houston, June 14, 2017 - On Friday, February 24th Benthic Brasil Ltda., a wholly owned subsidiary of Benthic Geotech Pty Ltd, successfully completed the offshore phase of a major geotechnical site investigation on the Libra Consortium’s ultra-deepwater Libra project. Utilizing Benthic’s proprietary PROD (Portable Remotely Operated Drill) seabed founded drill rig, the fieldwork phase... Continue Reading →
Petrobras – Approval of Deputy Officer for Governance and Compliance Post
Rio de Janeiro, June 13, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors approved, in a meeting held yesterday, the creation of the non-statutory position of Deputy Officer for Governance and Compliance. The measure is yet another step forward in the company’s governance system, considering that the Deputy Officer will... Continue Reading →
Brazil’s CVM fines Eike Batista $6.3 mln for insider trading
Brazil's securities regulator on Tuesday ordered former billionaire Eike Batista to pay 21 million reais ($6.3 million) for stock trading based on insider information about his shipbuilding company OSX Brasil SA . The regulator, known as the CVM, said Batista had sold OSX shares before public release of information that triggered a sharp selloff on... Continue Reading →
TechnipFMC buys remaining Kanfa stake from Sevan
Sevan Marine, a Norwegian designer of offshore oil and gas facilities, has sold its shares in the topside specialist Kanfa to TechnipFMC. Technip, now TechnipFMC, initially acquired a 49 percent stake from Sevan, back in 2014 for an undisclosed amount. Under the agreement Sevan has agreed to sell its remaining 51% shareholding in Kanfa to Technip Norge... Continue Reading →
Brazil graft probe targets former head of Petrobras
A judge in Brazil has ordered a corruption investigation against Aldemir Bendine, the former head of state-run oil company Petrobras, according to a court document released Tuesday. Federal judge Sergio Moro also found Sergio Cabral, a former governor of Rio de Janeiro state, guilty on corruption and money laundering charges and sentenced him to over... Continue Reading →
Without new contracts, EAS shipyard may close in 2019
The Atlântico Sul Shipyard (EAS) runs the risk of having to close the doors after mid-2019, when it has finished delivering the ships to its sole client, Transpetro, the Petrobras logistics subsidiary. "This risk [of paralyzing activities from the end of 2019] is high," says Harro Burmann, president of EAS. Controlled by Queiroz Galvão and Camargo... Continue Reading →
COMPERJ’S NATURAL GAS PROCESSING UNIT (NGPU) TENDER RESULT WILL BE ANNOUNCED IN JULY.
June 13, 2017 The result of the bidding that will complete the NGPU works of the Rio de Janeiro Petrochemical Complex (Comperj) , will be announced in July. Of the 34 foreign companies invited to participate, only four submitted proposals with the required certifications: Toyo, Fluor, Cobra and Kervi. The basic price that Petrobras has... Continue Reading →
Brazil Energy Insight 