A Supreme Court justice dealt President Michel Temer and Brazil's political elite a heavy blow on Tuesday by ordering investigations into eight cabinet ministers and dozens of lawmakers allegedly linked to the country's biggest corruption scandal. The list of names under investigation released by Justice Edson Fachin read like a Who's Who of Brazilian politics,... Continue Reading →
BHP CEO Rejects Oil Spinoff for Third Time After Singer Demand
The previous two times BHP Billiton boss Andrew Mackenzie ran his ruler over the company’s $29 billion oil unit he decided it was still a good fit for the world’s biggest miner. A fresh review following the urging of billionaire activist Paul Singer came up with the same answer. Read more
Speedcast Secures Two Systems Integration Contracts with Leading Fabricator for Offshore E&P Assets
/js/libs/html5shiv-printshiv.js SYDNEY--(BUSINESS WIRE)--Speedcast International Limited (ASX: SDA), the world’s most trusted provider of highly reliable, fully managed, remote communication and IT solutions, today announced it has won two new systems integration projects with a leading fabricator for the oil and gas industry. In both contracts, Speedcast has been named telecoms systems integrator, responsible for all... Continue Reading →
Petrobras – Moody’s upgrades Petrobras’ rating
Rio de Janeiro, April 10, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that the rating agency Moody’s upgraded the company’s corporate debt rating to B1 from B2 and changed the outlook to positive from stable. Moody’s highlighted the continuous improvement of Petrobras’ liquidity profile and financial metrics over the last quarters on its report,... Continue Reading →
Damen to buy Keppel Verolme shipyard
Dutch offshore shipbuilder Damen has agreed to buy the Keppel Verolme shipyard from Singapore’s largest rig builder, Keppel Offshore & Marine. Keppel said the proposed sale comes after a strategic review and as part of the company’s efforts to optimize its operations and rationalise its global network of yards. “Keppel O&M continues to see opportunities in... Continue Reading →
Brazil to get data for revision of large Petrobras contract in May
Brazil's oil industry regulator ANP will submit next month the calculations to base the revision of a large contract with Petrobras known as the Transfer of Rights, the Energy Minister Fernando Coelho Filho said on Monday. The contract, through which the government exchanged in 2010 exploratory rights over some oil areas in its coast for... Continue Reading →
Moody’s upgrades Petrobras’ ratings to B1; changes outlook to positive
New York, April 10, 2017 -- Moody's Investors Service upgraded all ratings of Petroleo Brasileiro S.A. (Petrobras)'s and ratings based on Petrobras' guarantee, including the company's senior unsecured debt and corporate family rating (CFR), to B1 from B2 given lower liquidity risk and prospect of declining debt leverage. At the same time, Moody's raised the... Continue Reading →
Bassoe: After years of plummeting activity, offshore Brazil is looking better again
Bassoe: After years of plummeting activity, offshore Brazil is looking better again | Offshore Energy Today http://www.offshoreenergytoday.com/wp-content/themes/navingo20/js/html5.js http://www.offshoreenergytoday.com/wp-content/themes/navingo20/js/respond.min.js For nearly a decade, Petrobras had more offshore drilling rigs under contract than any other operator in the world. With ambitions to grow their late-cycle offshore oil discoveries into an empire that would fund the country for... Continue Reading →
Petrobras says it has no use for P-71 from the Ecovix shipyard
The situation has been critical at the Rio Grande naval complex for some time, but the horizon does not bring good news. The resumption of the construction of P-71, which was one of the local hopes, is not in Petrobras' plans, according to President Pedro Parente, who alleged "no use" for the platform -... Continue Reading →
HIGH PRESSURE OF CARCARÁ INFLUENCED SALES OF THE AREA TO STATOIL
Apr 6, 2017 The Carcará field is considered one of the jewels of the pre-salt, due to huge estimates of oil reserves, and left the hands of Petrobras recently to be controlled by the Norwegian Statoil, which bought 66% of the asset for $ 2.5 Billion, but according to the president of Petrobras, Pedro Parente,... Continue Reading →
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