A Brazilian auction of rights to develop additional oil-producing areas in the country’s so-called transfer-of-rights region is unlikely this year, Brazil’s Deputy Mining and Energy Minister Marcio Felix said on Tuesday. The government in 2010 transferred to state-run oil company Petróleo Brasileiro S.A., known as Petrobras, rights to extract 5 billion barrels of oil and... Continue Reading →

08/21/18 Akastor AS (Akastor) intends to sell 50% of its stake in AKOFS Offshore 1 AS (AKOFS) to Mitsui & Co., LTD. (Mitsui) and Mitsui O.S.K. Lines, Ltd. (MOL). According to the purchase and sale agreement entered into in June of this year, each company will acquire 25% of AKOFS shares, which holds the remaining... Continue Reading →

The Brazilian real fell beyond 4 per dollar for the first time since February 2016 after new polls showed that market-friendly presidential candidates are lagging rivals in the runup to the nation’s most uncertain election in more than 30 years. The currency led losses among global peers after the latest polls underscored voter support for the Workers... Continue Reading →

Brazil has relaxed local content requirements for companies developing the Libra offshore oilfield, the government said on Monday, in a move it expects will unlock $16 billion in investment for Latin America’s top oil producer. The move lowers thresholds that dictate what percent of certain equipment and services must be provided locally to levels “more... Continue Reading →

Rio de Janeiro, august 20, 2018 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the commencement of offers (the “Exchange Offers”) by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) to exchange up to U.S.$3,759,866,000 aggregate principal amount of PGF’s newly issued 5.299% Global Notes due 2025 (CUSIP/ISIN: 71647N AV1 / US71647NAV10) (the... Continue Reading →

Subsea services provider Oceaneering International has secured a four-year contract with a one-year optional extension period from Petrobras in Brazil. Oceaneering said on Monday that the contract was won by its wholly owned subsidiary, Marine Production Systems do Brasil Ltda. According to the company, the contract will support intervention and completion operations in Brazil. Read... Continue Reading →

08/17/18 Amount will be applied in the development of the gas fields of Caburé and Gomo Alvopetro announced that it will allocate US $ 1.8 million to the Caburé and Gomo fields later this year and around US $ 14 million in 2019. The company said it will focus on the development of these gas... Continue Reading →

08/17/18 Started drilling for one more well in the Guanxuma prospect in the Santos Basin Equinor has started drilling a new well in the BM-S-8 block in the Santos Basin. The 1-STAT-10C-SPS or Guanxuma B T2, the nomenclature given by the company, is the fourth well perforated by the Norwegian oil company, which assumed the... Continue Reading →