Norway’s Equinor has awarded Archer a new four-year contract for the provision of platform drilling management services on the Peregrino field development on the Peregrino A and B platforms located offshore Brazil. Archer said on Monday that the contract is effective from December 1, 2020. The new four-year contract awarded will be in direct continuation... Continue Reading →
Brazil rates to hit new low 4.50%, but may be last cut of cycle: Reuters poll
Brazil’s central bank will lower its key interest rate to a new low of 4.50% on Wednesday, according to the unanimous view of economists in a Reuters poll, but stronger-than-expected economic data suggest this may be the last cut in the cycle. While inflation is well below the central bank’s target and widely expected to... Continue Reading →
Petrobras advances in negotiations with CNPC for the Comperj refinery
Dec 9, 2019 Petrobras has completed a feasibility study with Chinese oil company CNPC on refining operations at the Comperj refinery in Itaboraí (RJ), said the Petrobras executive director of refining and natural gas Anelise Lara. The executive added that Petrobras is seeking to recover a volume of gas from an existing contract to import... Continue Reading →
After five years, oil and gas industry hires again
December 9, 2019 Despite the climate of disappointment with the absence of major oil companies in the last two pre-salt auctions in November, the oil and gas labor market is once again gaining momentum in Brazil. After five years of shrinking without respite, the percentage of open positions for middle and senior management positions in... Continue Reading →
Petrobras on the lease of the LNG Regasification Terminal of Bahia
December 9, 2019 Petróleo Brasileiro S.A. – Petrobras, in accordance with them commitments made through the Agreement, signed with the Administrative Council for Economic Defense (CADE), on July 8, 2019, informs that it is starting the process of leasing the LNG Regasification Terminal of Bahia (TR-BA), at Salvador/BA, and its integrated pipeline. Thus, the company... Continue Reading →
Offshore: OSV Market Report
The environment in oil patches onshore and offshore alike has been challenging throughout 2019; worries about an economic slowdown – whether cyclical or induced by a trade war – have weighed heavily on oil prices, even in the face of reduced production by the big producers. Though storm clouds persist, there appears a clearing on... Continue Reading →
Petrobras seeks swift sale of Braskem, smoother offshore auction process
The chief executive of Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras) said on Friday he wants to sell the company’s stake in petrochemical company Braskem SA within a year. At the London leg of an international investor roadshow, top Petrobras officials presented plans to sell tens of billions of dollars in assets to reduce... Continue Reading →
Petrobras CEO Says Too Early to Make Carbon Commitment
Dec 6, 2019 The chief executive of Brazilian state-run oil firm Petroleo Brasileiro SA said on Friday it was too early to commit to a climate target and that energy companies had a range of thoughts on the matter. Asked if the firm would match a pledge similar to Spanish energy group Repsol's this week... Continue Reading →
Shell charters three AET shuttle tankers for Brazil
AET Tankers, a subsidiary of Malaysia’s maritime solutions and services provider MISC Berhad, has been awarded three long-term time charter contracts by Brazil Shipping I Limited, a Shell group entity. Under the terms of the deal, AET will own and operate three newbuilding Suezmax Class dynamic positioning (DP) shuttle tankers for operations in international and... Continue Reading →
Petrobras forecasts investments of 21 billion dollars in the Campos Basin over the next 4 years
December 6, 2019 Concerned about the natural decline in the Campos Basin post-salt in contrast to the record highs in pre-salt production, Petrobras announced this week through its exploration and production director Carlos Alberto Pereira de Oliveira that it will invest 21 billion dollars for the next 4 years. The investments would aim to try... Continue Reading →
Brazil Energy Insight 