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zoom Multi-client seismic data specialist Spectrum has completed the 17,700 km Santos Campos Phase Two 2D seismic survey offshore Brazil. Spectrum said on Friday that the new acquisition program was an outboard extension of its 2012 Santos Campos Phase One survey, and tied other programs in the Santos, Campos, and Espirito Santo Basins According to... Continue Reading →
zoomPetrobras worker (For illustration only) Earlier this week, a helicopter had a rough landing and crashed into the heliport of the Petrobras-operated P-37 FPSO, offshore Brazil. Brazilian state-owned oil giant reported on Wednesday that a S76C model helicopter, owned by Omni Taxi Aereo, crashed laterally into the heliport. The aircraft had taken off from the São Tomé... Continue Reading →
With electricity demand in Brazil slashed by the harshest recession in a century, the government is evaluating an innovative kind of power auction - to allow companies to bid for the right to cancel licenses to build plants. Firms had rushed to bid for licenses to supply the power needed to fuel growth as a... Continue Reading →
Thu Mar 2, 2017 Brazilian oil exports hit their second consecutive record in February, with shipments almost double the level of the same period in 2016, as new offshore production continues to come on stream, government data showed on Thursday. Oil exports rose to 6.23 million tonnes (roughly 45.7 million barrels), 94 percent higher than... Continue Reading →
zoomSubsea 7's new vessel Seven Kestrel Subsea services contractor Subsea 7 narrowed its net loss for the fourth quarter 2016 and returned to profit for the full year 2016. Subsea 7 on Thursday reported a $13 million net loss for the last quarter of 2016, a significant reduction compared to a $421 million loss... Continue Reading →
The local content policy that was in force between 2005 and 2016 did not reach its objectives. The assessment by the Brazilian Court of Auditors last year, showed how the accumulation of fines, delays in the delivery of equipment and high costs affected the oil and gas industry in Brazil, concluding that "the national content... Continue Reading →
Carnival revelers were still dancing in the streets of Brazilian cities on Wednesday but for President Michel Temer's government it was back to the reality of mounting corruption allegations that threaten its survival. "Out with Temer" was a frequent chant against the unpopular president during the annual celebrations across a country hit by record unemployment... Continue Reading →
Chilean police raided the offices of Brazil's Odebrecht in capital Santiago on Wednesday, as part of a widening investigation into bribes paid by the conglomerate on construction projects across Latin America. A Chilean prosecutor will travel to Brasilia this month to work with Brazilian colleagues questioning Odebrecht executives, national public prosecutor Jorge Abbott told journalists.... Continue Reading →
Mexico's state-run energy giant Pemex, which has not posted a profit since 2012, reports losses of $14.3 billion for 2016 Mexico's state-run energy giant Pemex reported losses of $14.3 billion for 2016 on Monday, halving its losses from the previous year and saying "austerity" measures were starting to pay off. Pemex, which has not posted... Continue Reading →
Norway-based FPSO provider BW Offshore narrowed its net loss during the fourth quarter 2016 amid impairments of $223 million. Net loss for the fourth quarter 2016 was $114.4 million, a negative movement of $103.2 million compared to the net loss of $11.2 million in the third quarter of 2016. However, the company’s net loss was smaller... Continue Reading →
Brazil Energy Insight 