French geophysical player CGG returned to quarterly profit, following successful completion of financial restructuring during the first quarter of 2018. For the first quarter of 2018 CGG posted a profit of $646.6 million compared to a loss of $145.1 million in the same period of 2017. CGG’s revenues for the first quarter of 2018 dropped... Continue Reading →
Paving the way forward | Pedro Parente | Itau BBA’s 13th Annual Latam CEO Conference | Nova York
Attached please find presentation Pedro Parente-Itau BBA's 13th Annual-Ingles
Petrobras Oil and natural gas production in April
Rio de Janeiro, May 16, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that, in April, its total production of oil and gas, including natural gas liquids (NGL), was 2.68 million barrels of oil equivalent per day (boed), with 2.59 million boed produced in Brazil and 95 thousand boed produced abroad. Total production operated by... Continue Reading →
Bassoe: Borr Drilling takes jackup rig hoarding to a new level
Borr raises $350 million in a matter of minutes as it takes a new bite out of the distressed asset fleet. Whatever you think of Borr’s latest jackup deal with Keppel FELS, the fact is that they’re eating up the market while everyone else watches. Yesterday, Borr announced the acquisition of five more premium newbuild jackups... Continue Reading →
ENGIE CONFIRMS TO BE IN NEGOTIATIONS WITH PETROBRAS ON TAG PURCHASE
French energy and gas group Engie said it is negotiating with Petrobras to buy the gas pipeline network of the oil company, the Transportadora Associada de Gas (TAG). Confirming a Reuters report, Engie Chief Executive Isabelle Kocher told analysts that the company - which has large investments in Brazil's electric power sector - wants... Continue Reading →
Açu Port wants to become main hub for oil exports
Açu Petroleo wants to make its terminal (T-Oil) in Açu Port (RJ) the main option for exporting oil to private oil companies in Brazil, says company president Victor Snabaitis Bomfim. The executive bet on the capacity to receive larger ships as a differential of the project, which carried out its first transhipment operation with a... Continue Reading →
Libra logistics bid has German and Swiss among competitors
05/16/18 Petrobras postponed the deadline for submitting bid proposals to contract integrated logistics services for Libra, in the pre-salt of the Santos Basin. This is the second postponement of the bid, previous date was the 14th of May. In a circular sent to competitors, the oil company said that it needed more time to respond... Continue Reading →
PG Flow equipment set for Polvo FPSO life extension project
FPSO operator BW Offshore has contracted liquid handling and pump specialist PG Flow Solutions to supply water booster pumps for the Polvo FPSO life extension project in Brazil. PG Flow said on Wednesday that the scope of work was the engineering, procurement, assembly of pump skid, and commissioning of two produced water booster pumps in... Continue Reading →
Latin America’s oil production struggles to recover
Venezuela and Mexico are still coping with the fallout from the downturn while Brazil is set to start adding barrels again No region was hit quite as hard by the downturn as Latin America. Oil production across the region has fallen 20%, from 9.6m barrels a day as the crisis took hold in 2015, to... Continue Reading →
Exclusive: As Venezuelans suffer, Maduro buys foreign oil to subsidize Cuba
Venezuela’s state-run oil firm PDVSA has bought nearly $440 million worth of foreign crude and shipped it directly to Cuba on friendly credit terms - and often at a loss, according to internal company documents reviewed by Reuters. The shipments are the first documented instances of the OPEC nation buying crude to supply regional allies... Continue Reading →
Brazil Energy Insight 