Brought to you by Quest Offshore & Southern Cone Consultants
June 8, 2020 BW Offshore has received a notice from Petrobras extending the lease and operation agreement of BW Cidade de São Vicente with 120 days. With the extension, the contract is now set to expire on October 9, 2020. BW Offshore has started planning for the demobilization of the unit from the field and... Continue Reading →
June 05, 2020 Petróleo Brasileiro S.A. - Petrobras reports that it exported 1.11 million tons of fuel oil in May, surpassing the previous record set in February 2020 by 10%. The amount of fuel oil exported was 231% higher than the volume exported in May last year. It is important to highlight that, on 01/01/2020,... Continue Reading →
Jun 5, 2020 Petrobras will close 2020 with a new and a leaner look. In the midst of the crisis, the oil company began to implement an extensive restructuring process that includes, among other changes, creating a decommissioning management, cutting hundreds of managerial positions and the hiring of a market executive to lead the Executive... Continue Reading →
Jun 5, 2020 Important news for the oil and gas sector from Brasilia. The National Energy Policy Council (CNPE) approved incentives for small and medium-sized companies in the exploration, development and production of oil and natural gas. The collegiate also gave the approval for the National Petroleum Agency (ANP) to define and bid blocks... Continue Reading →
A Brazil-based wholly-owned subsidiary of Singapore’s offshore rig builder Sembcorp Marine (SembMarine) has entered into a revolving facility agreement for up to $500 million with Standard Chartered Bank. SembMarine said on Friday that the subsidiary in question was Estaleiro Jurong Aracruz (EJA). According to the company, the facility agreement will be guaranteed by SembMarine. Continue... Continue Reading →
June 4, 2020 Petróleo Brasileiro S.A. - Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its stakes in five power generation companies: Brasympe Energia S.A. (Brasympe), Energética Suape II S.A. (Suape II), Termoelétrica Potiguar S.A. (TEP), Companhia Energética Manauara S.A. (CEM) and Brentech Energia S.A. (Brentech). The teaser,... Continue Reading →
Jun 4, 2020 Two views on Petrobras' 1Q2020 results and the R $ 65.3 billion impairment that led to the historic loss of R $ 48.5 billion. - "The amplitude of the estimated volume of recoverable value of Petrobras' assets can also be used as a technical / political instrument to reinforce the strategies defined... Continue Reading →
A court in Brazil has accepted a money laundering and corruption complaint against a former Sembcorp Marine employee as part of the widespread Brazilian Car Wash probe. As previously reported, the Federal Public Ministry (MPF) in Brazil in February 2020 filed charges against Guilherme Esteves de Jesus (GDJ) for money laundering and Sembcorp Marine’s ex-employee Martin Cheah Kok Choon for... Continue Reading →
Brazilian federal court has ordered state-run oil company Petrobras SA to rename one of its biggest offshore oil fields currently named "Lula", the special secretary of privatization at the Economy Ministry, Salim Mattar, said late on Wednesday. Back in 2010, Petrobras decided to rename its Tupi field, one of the crown jewels in Brazil’s so-called... Continue Reading →
June 03, 2020, Petróleo Brasileiro S.A. - Petrobras announces that today it concluded the offering of two series of Global Notes in the international capital market in the amount of US$ 3.25 billion, with US$ 1.5 billion from the issuance of the 2031 new notes and US$1.75 billion from the issuance of the 2050 new... Continue Reading →
Brazil Energy Insight 