Rio de Janeiro, September 25, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it entered into an amendment to Braskem Shareholders' Agreement with Odebrecht S.A., altering clause 7.12 related to tag along rights. With the amendment, the preferred shares issued by Braskem owned by Petrobras, which were already subject to a Public Offering in... Continue Reading →
Jumbo in FSRU mooring gig offshore Brazil
Malaysia’s Sapura has hired Dutch Jumbo to perform the transportation and installation of an FSRU Mooring System including riser and umbilical, off the coast of Aracaju, Sergipe, Brazil. The mooring system comprises an anchor base and a rotating yoke arm filled with water and barite ballast. The structures will be loaded in Batam, Indonesia, and... Continue Reading →
ANP approves 17 additional local content additives
9/24/18 The ANP approved 17 new additive terms to the concession contracts for reduction of local content. The approvals were published in the Federal Official Gazette. There were six contractual additions to Maha; six for the Geopark (and one for Geopark with GeoparGeosol); three for Imetame and G3OG and one for Great Oil with Alvopetro.... Continue Reading →
Total to have new director-general in Brazil
9/24/18 The command of Total E & P do Brasil will change hands after three years. Maxime Rabilloud will leave the oil company's General Directorate in October, and will be replaced by Philippe Blanchard, a French executive with a 25-year career in the group. Blanchard runs the Total E & P office in Papua New... Continue Reading →
Flotel Safe Concordia in Brazil
9/24/18 Prosafe's Safe Concordia arrived in Brazil to start a 200-day campaign for Modec. The unit will support two FPSOs in operation in the Campos and Santos Basins under contract with Petrobras. The unit will be anchored off the Guanabara Bay, where it will be submitted to the release procedures by the Brazilian authorities. The... Continue Reading →
Petrobras Oil and natural gas production in August
Rio de Janeiro, September 24, 2018 - Petróleo Brasileiro SA - Petrobras informs that in August its total production of oil and gas, including natural gas liquids (NGL), was 2.47 million barrels of oil equivalent per day (boed), with 2.35 million boed produced in Brazil and 116 thousand boed abroad. Total production operated by the... Continue Reading →
Deepwater Oil Rigs on Brink of Recovery After Years in Doldrums
Deep-sea oil drillers are once again riding the wave of investor enthusiasm that next year will be better for profits. But this time there seems to be a bigger chance it will actually happen, according to analysts at Credit Suisse Group AG and Morgan Stanley. Read more
Big Oil readies Brazil offshore bets, fearing election result
Exxon Mobil Corp (XOM.N), Royal Dutch Shell Plc (RDSa.AS) and other companies will gather on Friday in possibly their last crack at Brazil’s coveted offshore oil for another four years, as a wide-open election spurs fears about barriers to foreign investment. The auction in Rio de Janeiro for four blocks in the Santos and Campos... Continue Reading →
Petrobras: Receipt of payment of the 2nd phase of the Diesel Price Subvention Program
Rio de Janeiro, September 21, 2018 - Petróleo Brasileiro SA – Petrobras, following up on the Material Fact released on 06/08/2018, and in addition to the information presented in the financial statements (ITR) for the 2nd quarter of 2018, in explanatory note 17.7.1, confirms the receipt of the payment related to the diesel sale economic... Continue Reading →
Karoon, Tullow to spud first well in Z-38 block off Peru in 2020
Australian oil and gas explorer Karoon has lifted force majeure from its Block Z-38 offshore Peru, and is looking to drilling the first well at the block in early 2020. Karoon on Friday said the company had been positively impacted by recent changes to the hydrocarbon law in Peru, which has resulted in force majeure... Continue Reading →
Brazil Energy Insight 