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Impending cyclical cost inflation could raise break-even costs in an otherwise healthy deepwater industry, energy analytics company Wood Mackenzie said in its latest report. In a report published on Tuesday, WoodMac said that the deepwater industry appears in good health, following a sustained cost reduction through the downturn. However this hard work, according to the... Continue Reading →
Following recent positive forecasts shared by jack-up rig players, we now have floater operators showing optimism too. Offshore driller Seadrill Limited, which operates both floaters and jack-ups, on Monday said it sees dayrates improving in the next two years. The company, which in July emerged from Chapter 11 Bankruptcy after successfully completing restructuring, had seven floaters working... Continue Reading →
The Wintershall and DEA merger, the largest upstream deal in Europe for over a decade, will be heavily weighted to gas, putting it at the centre of a heated gas debate in Germany Wintershall chief executive Mario Mehren likes to speak his mind, especially when it comes to the role of natural gas in Germany's... Continue Reading →
Dommo Energia SA ("Dommo Energia" or "Company") (B3: DMMO3; OMO: DMMOY) hereby informs its shareholders and the market in general that on November 26, 2018 the Company entered into, with the approval of its Board of Directors , a new addition to the charter agreement ("New Chartering") with OSX 3 Leasing BV ("OSX 3"),... Continue Reading →
SAO PAULO, Nov 26 (Reuters) - Brazilian conglomerate Odebrecht SA has hired investment bank Moelis & Co. to discuss restructuring of interest in $3 billion in bonds issued by Odebrecht Finance Limited that were due last month, one source with knowledge of the matter said on Monday. Odebrecht did not pay interest that was... Continue Reading →
Odebrecht SA’s builder unit plans to announce as soon as Monday that it will seek to restructure debt out of court to avoid filing for bankruptcy protection after missing the grace period on a bond payment, said people with knowledge of the matter. Odebrecht Engenharia e Construcao SA is planning to start negotiations to restructure $3... Continue Reading →
November 26, 2018 Petrobras will send for the approval of the Board of Directors its Business and Management Plan 2019-2023, which will contemplate investments slightly above the level of US $ 80 billion, against US $ 74.5 billion of the 2018-2022 Plan. The plan has already been finalized and will be submitted on the 27/11... Continue Reading →
President-elect Jair Bolsonaro is pursuing the sale of Brazil’s deep-sea treasure-trove of oil, but just weeks after his election he’s facing the same political obstacles as his two predecessors. While Bolsonaro’s transition team argues the sale could net some $30 billion to help plug fiscal deficits, a squabble over how to divvy up the spoils... Continue Reading →
11/22/2018 Petrobras plans to open bidding for the Mero 3 and Mero 4 platforms in mid-2019, the area's chief executive Fernando Borges told reporters on Thursday. The Mero field is located on the Libra block, in the Santos Basin pre-salt, first to be tendered under a production sharing regime in Brazil in 2013. Platforms... Continue Reading →
The president of Pre-Salt Oil (PPSA), Ibsen Flores Lima, defended the revision of the polygon of the pre-salt. During an event held by the distribution company and the agency epbr, the executive said there is no point in keeping areas of lesser attractiveness within the pre-salt polygon and that the sharing regime should be... Continue Reading →
Brazil Energy Insight 