Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - On one side is a president questioning the integrity of the electoral system. On the other, a challenger warning he could roll back the country's biggest privatization in decades. But investment bankers are sanguine about the impact of Brazil's presidential election this year on investor appetite for upcoming deals. They say investor attention... Continue Reading →
Wilson Sons posted net income above R$143 million in the first quarter, 437% higher than in the same period in 2021. The 437% growth in net income benefited from the exchange rate variation in this quarter, as the real appreciated 15%. But even excluding currency effects, the company reported a net income of R$ 80... Continue Reading →
Australian oil and gas company Karoon Energy has started its intervention campaign on the Baúna field, located offshore Brazil, using a Maersk Drilling-owned semi-submersible rig. After this campaign, the rig is scheduled for work on two more fields for Karoon. Karoon reported on Monday that its contract with Maersk Drilling for the Baúna intervention campaign... Continue Reading →
(Reuters) Equinor and Exxon Mobil Corp have taken the first steps to expand an $8 billion oil development off Brazil's coast, the Norwegian oil producer told Reuters. The firms want to boost future production from the Bacalhau oil field, Equinor's largest project outside of Norway with more than 1 billion barrels of oil, the company said. A... Continue Reading →
(Bloomberg) -- Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center. In the past three years, Shell has drilled three exploration wells without finding any commercial volumes, said Marcelo de Assis, the head of Latin... Continue Reading →
(Reuters) Brazilian President Jair Bolsonaro suggested on Monday he may tinker with state-run company Petrobras' profit policy, cutting the percentage distributed to shareholders, as he looks to curb fuel price hikes ahead of the country's October elections. In a speech during an event in Sao Paulo, Bolsonaro said that all the oil companies in the... Continue Reading →
Oslo-listed offshore vessel operator DOF has, through its Brazilian subsidiaries, won new long-term charter and service contracts with Petrobras for four AHTS vessels and ROVs. The vessels, Skandi Angra, Skandi Paraty, Skandi Urca, and Skandi Fluminense, (AHTS 18000 class), currently operating for Petrobras and equipped with DOF Subsea's work class ROVs, have been contracted for... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 07/20/2018, informs that it has decided to conclude the current competitive process, which was in the binding phase, for the partial sale of four concessions located in deep waters in the Sergipe-Alagoas Basin (BM- SEAL-4, 4-A, 10 and 11), without transferring the operation.... Continue Reading →
(ON) As commercial discoveries continue to increase offshore Guyana, more projects will come online, generating an unprecedented inflow of revenue to the new oil producing South American country, which Norway-based Rystad Energy said could top US$130 billion. “If all discoveries were to be developed, you`re looking at, in the next 20 years, over $130 billion... Continue Reading →
(PN)French company TotalEnergies notified the National Petroleum Agency (ANP) that it found evidence of oil and gas in block C-M-541, in well 1-TOT-2-RJS, in a water depth of 3,000 meters, in the Campos Basin. The drilling of the well Marolo-1 began at the end of last year. The activity was carried out by the Valaris... Continue Reading →
Brazil Energy Insight 