Mammoet has successfully completed the process of weighing, transporting and lifting the modules of the P-76 FPSO platform for the Technip-Techint consortium at the Techint Offshore Unit in Pontal do Paraná - Brazil. FOR THIS JOB MAMMOET DEPLOYED ITS PTC 200 DS CRANE, ONE OF THE LARGEST CRANES IN THE WORLD The consortium was contracted... Continue Reading →
End of local content is harmful, says Fiesp study
2/15/17 A study by the Competitiveness Department of the Federation of Industries of the State of São Paulo (Fiesp) argues that the change from the current rules of local content for exploration and production of oil and gas to a single global index would reduce production, number of jobs and tax revenues generated by the... Continue Reading →
Economists turn bullish on Brazil 2017 growth as interest rates fall
Several economists are turning bullish on a return to growth in the Brazilian economy following months of downward revisions to forecasts as slowing inflation fuels bets on aggressive interest rate cuts. The upswing in confidence suggests Latin America's largest economy may finally be heading for a recovery from a brutal two-year recession after frustrated expectations... Continue Reading →
Petrobras Clarification on News: Arbitration and legal proceedings – Sete Brasil
Rio de Janeiro, February 13, 2017 – Petróleo Brasileiro S.A. – Petrobras responds to Official Letter no. 83/2017/CVM/SEP/GEA-1 which requests clarifications, as follows: Official Letter no. 83/2017/CVM/SEP/GEA-1 “Dear Officer, 1. I refer to the article published by O Globo newspaper, under the headline “Todos contra a Petrobras” [“All against Petrobras”], regarding reparation for investments in... Continue Reading →
China’s Sinohydro in talks for Odebrecht stake in Colombia river project
Chinese construction company Sinohydro is negotiating with Odebrecht to take over the Brazilian company's stake in Colombia's Magdalena River navigability project, a deal that could save the $873 million contract, a government official said. Power China is interested in becoming involved through its Sinohydro unit, Luis Fernando Andrade, president of Colombia's National Infrastructure Agency, told... Continue Reading →
Nova Transportadora do Sudeste Sale Process
Rio de Janeiro, February 10, 2017 – Petróleo Brasileiro S.A. – Petrobras, in addition to the material fact disclosed on November 30, 2016, when the Extraordinary General Meeting approved the sale of 90% of Petrobras stake in Nova Transportadora do Sudeste (NTS), informs that today was officially notified by a Regional Federal Court of... Continue Reading →
Standard & Poor’s improves Petrobras’ rating
Rio de Janeiro, February 10, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that credit rating agency Standard & Poor’s announced that it raised the rating for the Company’s corporate debt to 'BB-' from 'B+' and altered its outlook to stable from negative. The agency noted on its report that the improvement in Petrobras’ rating... Continue Reading →
Petrobras announces final tender results and final settlement for cash tender offers
RIO DE JANEIRO, BRAZIL – FEBRUARY 9, 2017 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that holders of US$4,899,100,000 and €631,753,000 principal amount of the outstanding notes of the series set forth in the table below (all such notes, collectively, the “Old Notes” and each a “series” of Old Notes), issued by... Continue Reading →
Aker Solutions: 4Q net loss deepens. No dividend for 2016
Image source: Aker SolutionsAker Solutions’ revenue fell, and net loss deepened in the fourth quarter of 2016, amid the global market slowdown in demand for oil services. The company expects more of the challenging market conditions ahead and will pay no dividend for 2016. The Norwegian offshore oilfield services provider said its revenue fell to... Continue Reading →
An Energy Giant Bigger Than Exxon in the Shadow of Saudi Aramco
Qatar Petroleum is the hidden giant of the global energy industry, overshadowed by its neighbor Saudi Aramco. Yet, the country’s colossal natural gas resources allow the state-run company to pump more oil and gas than Rosneft PJSC or Exxon Mobil Corp. After almost two decades of breakneck growth, the company needs to change tack. QP... Continue Reading →
Brazil Energy Insight 