Offshore drilling contractor Transocean has been awarded a new contract and extensions for its rigs, adding $87.2 million to its backlog. A new contract award for one of the rigs means it is coming back from idle to work mode. As of 25 April, the company’s total backlog is approximately $6.1 billion, Transocean said late... Continue Reading →
Brazilian real tumbles amid rallying dollar and local tensions
(Reuters) - The Brazilian real has returned to the list of worst currencies among its peers with two sessions of heavy losses, suffering a blow from the rallying dollar after benefiting from a crowded carry trade, with increased tensions in Brasilia giving traders a reason to get out. On Monday, the real fell 1.44%, after... Continue Reading →
Ocyan rig days away from starting field revitalisation gig for PetroRio
Brazilian oil and gas company PetroRio is gearing up to start its revitalisation campaign offshore Brazil with Ocyan’s rig after its drilling programme for the Frade field received a green light from the country’s oil and gas regulator. Located in the Northern Campos Basin off the coast of Brazil, the Frade field is a subsea... Continue Reading →
EXCLUSIVE Italy’s Enel in talks to sell Brazilian distributor Celg-D, sources say
(Reuters) - Italy's Enel SpA (ENEI.MI) is in talks to sell its Brazilian power distributor company Celg-D in a deal that may reach $2 billion, three sources with knowledge of the matter said. Among companies interested in acquiring Celg-D, which distributes power in the Brazilian center-west state of Goias and serves 3.27 million customers, are Brazilian rivals... Continue Reading →
Brazil’s economy stagnant, growth freeze to continue in 2023
(Reuters) - Brazil's economy has entered a phase of stagnation that will persist next year as unrelenting inflation curtails consumer spending and policymakers struggle to find answers, a Reuters poll showed. Risks are tilted to the downside, with a potential relapse into contraction in the cards due to worries about a prolonged Russian offensive in... Continue Reading →
Vestas Signs Offshore Wind MoU in Brazil
Vestas has signed a memorandum of understanding (MoU) with the government of the Brazilian state of Rio Grande do Norte to support the development of wind projects off the state’s coast. The objective of the MoU, signed in March, is to share technical knowledge so that governmental institutions can improve their studies of feasibility of... Continue Reading →
Schlumberger reports higher profit as drilling activity increases, hikes dividend
(Reuters) - Top oilfield services firm Schlumberger (SLB.N) reported a higher first-quarter profit on Friday and increased its dividend by 40%, as rising oil prices boosted demand for services and equipment. Oil prices climbed to their highest in more than a decade during the quarter as Russia's invasion of Ukraine upended global supply dynamics. Oilfield service firms,... Continue Reading →
BW Offshore Sells Laid Up FPSO for $50 Million
(OE) Oslo-listed FPSO leasing company BW Offshore has agreed to sell its laid-up FPSO Polvo to BW Energy for $50 million. BW Energy will redeploy the FPSO in Brazil. The transaction is expected to be concluded by July 24, 2023, at the latest. If the transaction is completed before the said date, BW Energy will... Continue Reading →
India keen to boost oil imports from Brazil- India oil minister
(Reuters) - India, the world's third biggest oil importer and consumer, is looking at boosting oil purchases from Brazil, oil minister Hardeep Singh Puri said on Thursday after a meeting with Brazilian Energy Minister Bento Albuquerque. Currently India imports only a fraction of its oil imports from Brazil. "We have expressed to the honourable minister... Continue Reading →
Brazil discussing oil output boost with US amid Ukraine crisis – Minister
(Reuters) - Washington and Brazil have discussed the South American nation's role in keeping a lid on global crude prices since Russia's invasion of Ukraine, Brazilian Energy Minister Bento Albuquerque told Reuters in an interview on Wednesday. Brazil, with a current output of around 3 million barrels of oil per day (bpd), has been increasing... Continue Reading →
Brazil Energy Insight 