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Saipem has started the functional tests of FlatFish, the innovative underwater drone for advanced vessel free subsea inspections, based on AI. According to the company, the vehicle is now going to an extensive sea trial campaign. Since March 2018, Shell has been entrusting Saipem with the license to develop the FlatFish technology and qualify it... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that an arbitral panel seated in New York, has issued an award in an arbitration initiated by IESA Óleo e Gás S.A. determining the payment of approximately US$ 37 million, plus interest, by its wholly-owned subsidiary Petrobras Netherlands B.V. (PNBV) and the payment of approximately US$ 33 million, plus... Continue Reading →
Oil demand from China has been one of the few bright spots for a global petroleum industry severely impacted by a long-term global supply glut and the economic fallout from the COVID-19 pandemic. The world’s second-largest economy hunger for energy keeps growing despite the global COVID-19 pandemic and a resultant sharp decline in global economic... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 12/20/2019, informs that its Dutch subsidiary Petrobras Netherlands B.V. transferred, today, to companies of Sete Brasil Group, for the symbolic total amount of 7 euros, the equity interest of 15% that it held in each of the Dutch special purpose companies controlled by... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on November 30, 2020, regarding the divestment of Petrobras Gás S.A. (Gaspetro), informs that it received on 12/22/2020 a letter from the Administrative Council for Economic Defense (CADE) in which the agency attests that the continuation of the company Compass Gás Energia S.A. (Compass)... Continue Reading →
Brazilian oil giant Petrobras will concentrate its European commercial activities in Rotterdam. This will result in the transfer of Petrobras Europe Ltd.’s commercial activities from London, England to Petrobras Global Trading B.V. in Rotterdam. The change will start in the next quarter and must be completed by the second half of 2021. The focus on... Continue Reading →
Ten years ago, a future where subsea fields and their power-hungry process equipment could be fully electrified, enabling long step-outs to tap remote reserves with lean new infrastructure architectures, lit the fuse for a spate of investment in subsea power distribution.The result, following at least two major joint industry projects (JIP) and tens of millions... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that, as sole shareholder, it approved today the reduction of share capital of its wholly-owned subsidiary Petrobras Transporte S.A. (Transpetro), in the amount of R$ 557,020,835.82, in an Extraordinary General Meeting of Transpetro.The capital reduction was made at book value, with no change in the number of shares, through... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it received, as of today, the amount of R$ 232.6 million, as a result of a leniency agreement entered into between the Federal Prosecutor's Office (MPF) and Vitol Inc. and Vitol do Brasil Ltda. (Vitol), on 12/03/2020. Thus, the total amount of funds returned to the company as... Continue Reading →
ExxonMobil will start a new exploration campaign off the Brazilian coast. The company received the authorization from Ibama (Brazilian Environmental Institute) to drill wells in blocks BM-C-753, BM-C-789, BM-S-536, BM-S-647 and Titã, located in the Campos basins and Santos. The license granted by the environmental agency will last for four years. With the authorization in... Continue Reading →
Brazil Energy Insight 