(Reuters) - The chief executive of Brazil’s state-led oil company Petrobras is resisting pressure from President Jair Bolsonaro to resign following tensions over rising fuel prices, two sources with direct knowledge of the matter told Reuters. Roberto Castello Branco was appointed CEO of Petroleo Brasileiro SA, as the state-controlled firm is known, when Bolsonaro took... Continue Reading →
Petrobras starts binding phase of Carmópolis Cluster
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on November 19, 2020, informs the beginning of the binding phase regarding the sale of all of its stakes in a set of 11 onshore production field concessions, with integrated facilities, located in the state of Sergipe, jointly called the Carmópolis Cluster. Potential buyers... Continue Reading →
Petrobras on rating maintenance by Fitch
Petróleo Brasileiro S.A. – Petrobras announces that the rating agency Fitch affirmed the ”BB-“ issuer default ratings for Petrobras, with a negative outlook, reflecting the agency’s opinion on the sovereign’s ratings. Petrobras stand-alone credit profile was also affirmed at "bbb", 4 notches above the sovereign. Fitch highlighted the company's strong capital structure, declining debt levels... Continue Reading →
Shearwater to Carry Out Largest OBN Seismic Survey in Brazil
Marine seismic data acquisition company Shearwater GeoServices has won a contract with Petrobras for deepwater Ocean Bottom Node seismic acquisition for the Tupi and Iracema projects in the Santos Basin offshore Brazil. "This will be the largest OBN seismic survey in Brazil, at the Tupi field, considered Brazil’s first super-giant oil field and is a... Continue Reading →
Market Report: FPSOs … Charting the Path Ahead
COVID-19 will continue to skew the floating production systems market for the coming 24 months, while buying power for a large portion of FPSO contracts will be centered in Brazil and Guyana/Suriname. These two areas are expected to account for more than 60% of the FPSO contracts awarded between 2021 and 2025. These are the... Continue Reading →
Transocean adds more work to backlog, retires Leiv Eiriksson rig
Offshore drilling contractor Transocean has secured new contracts and extensions for its rig fleet, bringing the total backlog to $7.8 billion. The rig owner has also decided to retire the Leiv Eiriksson semi-submersible rig. In a fleet status report published last Friday, Transocean said that, as of 12 February, the company’s total backlog was approximately $7.8 billion.... Continue Reading →
Rystad highlights subsea boosting as opportunity for more than 200 oil projects
Subsea boosting could make an immediate increase in production profitably on more than 200 oil projects globally, according to Rystad Energy’s newly launched Subsea Processing Screening Tool. The increase in recoverable reserves for the top 100 projects, out of more than 200 projects identified where subsea boosting would be profitable, averaged 61 million barrels of... Continue Reading →
Petrobras on refineries sale
Petróleo Brasileiro S.A. – Petrobras, regarding a piece of news published on the media about the sale of the refineries, clarifies that the dates for the signing of the purchase and sale contracts and for their effective transfer to the buyers (respectively signing and closing) are internal estimates subject to alterations, since they depend on... Continue Reading →
Another puzzle falls into place for Yinson’s FPSO
Austrian crane provider Palfinger has secured a contract with Malaysian Yinson to provide cranes, lifeboats, a rescue boat, and davits for an FPSO bound for Brazil. Yinson secured a contract from Petrobras for the delivery, operation, and maintenance of an FPSO for the Marlim 2 oil field in the Campos Basin off Brazil in March 2020.... Continue Reading →
Offshore Services Firm OceanPact Completes $227 Million IPO
Brazil maritime services provider OceanPact Servicos Maritimos has concluded a 1.22 billion reais ($226.51 million) initial public offering, according to a securities filing on Wednesday. OceanPact priced the offer at 11.15 reais per share, at the bottom limit of the indicative range of up to 13.85 reais per share. The company raised 920 million reais... Continue Reading →
Brazil Energy Insight 