Brought to you by Quest Offshore & Southern Cone Consultants
For a sneak peek at the return of Chinese oil demand, look no further than the rebound in price of the nation’s favorite grades. In the last few days a Chinese state-owned refiner bought Brazil’s Lula crude for August arrival at a premium of about 50 cents a barrel to Brent on a delivered basis,... Continue Reading →
May 14, 2020 The crisis in the oil industry forced Enauta to change its plans for the Atlanta field, in the Santos basin. The company announced that it has decided to postpone the taking of prices for chartering the definitive FPSO for the field. In addition, the oil company will also reevaluate the design of... Continue Reading →
Brazil's Petrobras took a 65.3 billion real ($11.2 billion) impairment on its exploration and production assets on Thursday, warning investors that changes in consumer behavior resulting from the coronavirus pandemic would likely be permanent. The impairment led Petroleo Brasileiro SA, as the firm is formally known, to book a first-quarter net loss of 48.5 billion... Continue Reading →
We are making ad hoc adjustments now, without losing sight of our long-term goals. The current scenario, of a sharp drop in Brent prices and a decline in demand for fuels, is causing the biggest crisis in the oil industry in the last 100 years. Due to the crisis, we are making timely adjustments to... Continue Reading →
Petrobras released their 1st quarter, 2020 Financial Results. Please read full report here: PBR 1Q2020 Performance
MESSAGE FROM THE CEO We express our solidarity with the victims of the global pandemic, at the same time as we are deeply grateful to the health professionals who have been standing out as true heroes in the war against the COVID-19 disease. The global pandemic threatens our lives and our livelihood. The main public... Continue Reading →
In Brazil, where the company's Safe Notos and Safe Eurus are on contracts with Petrobras, the Brazilian oil company in April asked Prosafe for a suspension of the contract for a period of up to 120 days "during which period all logistical services, fuel, and catering support will continue to be provided by Petrobras, and... Continue Reading →
May 14, 2020 UK based Premier Oil postponed the start of the drilling campaign in block CE-M-717, in the Ceará Basin, which was scheduled for July. In a note, the oil company announced the postponement of all activities in its exploration portfolio to reduce expenses, given the “current market conditions”. The company postponed all activities... Continue Reading →
May 13, 2020 Petróleo Brasileiro S.A. – Petrobras, regarding the press releases disclosed on March 18, 2019 and September 11, 2019, which announced the approval of Production Individualization Agreements (AIP) of the Lula, Atapu and Sépia joint reservoirs, in Rio de Janeiro, informs that it executedm Expenses and Volume Equalization Agreements (AEGV) with the respective... Continue Reading →
Bureau Veritas (BV), a provider of testing, inspection, and certification (TIC) services, has formalized guidelines and a classification notation for floating, production, storage and offloading vessels (FPSOs) and floating production units (FPUs) designed for operation in Brazil’s deep waters. BV said on Thursday that the new class notation IVBS-BRA was an independent verification approach that... Continue Reading →
Brazil Energy Insight 