More than 200 people have been charged by the crusading local federal judge, Sergio Moro. For more than a decade, Moro has been working closely with the same police officers and prosecutors who have made up part of the Carwash task force since 2014. That group of young investigators, some of whom specialized in financial-crime... Continue Reading →
Transocean to sell entire jack-up fleet to new offshore driller
zoom Norwegian offshore drilling contractor Borr Drilling, formerly known as Magni Drilling, is planning to buy 15 jack-up drilling rigs from Swiss-based Transocean for $1.35 billion. Borr Drilling announced on Monday the signing of a letter of intent with Transocean for the acquisition of 15 high-specification jack-up rigs. The transaction consists of Transocean’s entire jack-up fleet, including ten... Continue Reading →
Brazil’s inflation likely eases to 4.7 percent in mid-March
Brazil's inflation rate probably approached the center of the official target in mid-March as food prices continued to ease and a long recession curbed the increase of services prices, according to a Reuters poll of economists on Monday. Consumer prices probably rose by 4.73 percent in the 12 months through mid-March, slowing from an increase... Continue Reading →
Rival Drilling Tycoons Place Bets on Offshore Oil-Rig Recovery
Billionaire John Fredriksen and his former top adviser Tor Olav Troim may not see eye to eye anymore, but they agree on this: it’s time to buy offshore rigs again. Foreseeing a boom in oil drilling a decade ago, the shipping tycoon and his right-hand man built one of the biggest offshore-rig companies before they... Continue Reading →
Suspension of Petrobras’ asset sale to Karoon still in force
zoomFPSO Cidade de Itajaí, located on the Baúna field. Image source: Teekay Oil and gas company Karoon Gas Australia has informed that a suspension of Petrobras’ process to sell two of its assets offshore Brazil to the Australian company is still in force. Earlier this week, the Brazilian Federal Accounting Court (TCU) allowed Petrobras to... Continue Reading →
Diamond Offshore wins court case against Petrobras
zoomPhoto by: Andy Grzymala ATGphotos.com Offshore driller Diamond Offshore has made a step forward in a court case against Petrobras, stemming from an early rig contract termination last year. Petrobras terminated the contract for the Ocean Valor rig in August 30, 2016. The drilling contract was originally estimated to conclude in October 2018. Diamond Offshore then, a... Continue Reading →
Brazil’s Camargo selling cement unit
Camargo Correa SA, the Brazilian family-owned conglomerate that exited several businesses over the past year, has put a cement unit up for sale, a column in newspaper O Globo said on Sunday. According to Globo columnist Lauro Jardim, Camargo Correa values the unit known as InterCement SA at around 20 billion reais ($6.47 billion). The... Continue Reading →
Sevan Marine to pay ANP fines for Piranema Spirit FPSO
zoomPiranema Spirit cylindrical FPSO Sevan Marine, a designer of a cylindrically shaped floating platforms, has agreed on a settlement with Piranema LLC for the payment of “ANP fines incurred to date.” ANP or Agência Nacional do Petróleo, Gás Natural e Biocombustíveis is the Brazilian federal government agency regulating the oil and gas sector. Sevan... Continue Reading →
CORRECTED-Petrobras resorts to top court to free divestment plan
Brazil's state-run oil company Petrobras has asked the Supreme Court to lift an injunction obtained by an oil workers' union that froze sales of its assets, including its fuels distribution unit, a court official said on Friday. Petrobras filed the request on Thursday in a bid to lift the injunction that blocked a divestment plan... Continue Reading →
Petrobras has put up for sale at a minimum bid of US $ 40 million two drilling rigs that cost US $ 720 million at the beginning of the decade.
Petrobras has put up for sale at a minimum bid of US $ 40 million two drilling rigs that cost US $ 720 million at the beginning of the decade. The units are part of a package of seven probes that will be auctioned by the state-owned company in May. The P-59 and P-60 rigs... Continue Reading →
Brazil Energy Insight 