07/02/2017 The federal government postponed a vote that would be taken on Monday to decide on a change of rules in local content of the oil and natural gas sector, while there is still no consensus on the degree of flexibility that will be applied. The impasse, according to the representative of the Brazilian... Continue Reading →
P-66 leaves the Brasfels Shipyard heading to the Lula field in the Santos Basin
06/02/2017 Petrobras Agency The FPSO P-66 left the Brasfels Shipyard, in Angra dos Reis (RJ). The P-66, which will be based in the Lula field, Lula Sul module in the pre-salt Santos Basin, is expected to reach the field in the next few days. The beginning of the operation of the production system unit will... Continue Reading →
Brazil prosecutor seeks probe into former president, senators
Brazil's top prosecutor on Monday asked the Supreme Court for permission to investigate an ex-president, two senators and the former head of a unit of the state oil company for alleged efforts to thwart the country's largest corruption probe. Prosecutor General Rodrigo Janot accused ex-President Jose Sarney, who now sits in the Senate, along with... Continue Reading →
BP Profit Misses Estimates as Oil’s Rally Hurts Refining
BP Plc reported fourth-quarter earnings that missed analyst estimates after higher oil prices failed to fully compensate for lower income from refining. Profit adjusted for one-time items and inventory changes totaled $400 million, falling short of the $567.7 million average estimate of analysts. Unlike peers Royal Dutch Shell Plc and Exxon Mobil Corp., which... Continue Reading →
Brazil’s inflation seen falling to 2012 low in January
Brazil's inflation probably fell to its lowest annual rate since September 2012 in January, a Reuters poll showed on Monday, adding to investors' confidence about steep interest rate cuts by the central bank this year. Consumer prices probably rose 5.41 percent in the 12 months through January, slowing from an increase of 6.29 percent in... Continue Reading →
Offshore Drillers Are Still Seeking Recovery Enjoyed by Shale
While oil drillers in U.S. shale basins are starting to see business come back, their offshore brethren will have to wait for prices to surge well above $60 a barrel. U.S. offshore operators like Diamond Offshore Drilling Inc. and Atwood Oceanics Inc. are down more than 15 percent in the last month, as companies focus... Continue Reading →
U.S. East Coast Has a Growing Appetite for Foreign Oil
“Brazilian production has increased quite a lot because of offshore production,” he said. “We should see these supplies keep coming.” Tankers carrying 2.5 million barrels of Brazilian oil are on their way for delivery to East Coast refineries, ship-tracking data show. This would be the most since at least 2002, according to data from the... Continue Reading →
U.S. Oil and Gas Prices May Tumble On Trump’s ‘Energy Revolution’
President Trump’s vow to “unleash an energy revolution” by reversing regulations may send oil and natural gas prices tumbling in 2018, according to Bank of America Merrill Lynch. Domestic oil and gas prices will likely suffer as the U.S. continues to increase its output, analysts including Francisco Blanch, head of commodities research, wrote in a note... Continue Reading →
Petrobras faces challenges to reach leverage target, says Fitch
Despite making progress, Petrobras remains highly leveraged and likely to rely on external financing to refinance maturities, according to a report by rating agency Fitch Ratings. "While Petrobras has reported very positive progress in its divestment plan, achieving its 2018 deleveraging targets can be challenging. Petrobras' business plan aims to significantly reduce net debt to... Continue Reading →
Oceana Shipyard Launches First of CBO’s 6 AHTS Series
The CBO Group launched the first vessel of type AHTS 18,000 produced at the Oceana shipyard, in Itajaí (SC). The unit is the first in a series of six vessels of this model being built at the shipyard. The Bossa Nova CBO began to be built in 2015 and is contracted by Petrobras, with delivery... Continue Reading →
Brazil Energy Insight 