Wed Sep 28, 2016 | 12:34pm EDT The President of Statoil in Brazil said on Wednesday that the Norwegian oil producer is looking at opportunities in Brazil's offshore oil region known as the Subsalt Polygon. Brazil's government is seeking to end a requirement that state-run firm Petrobras operate all oil fields in the Subsalt Polygon... Continue Reading →
Brazil should pass law easing Petrobras subsalt rights this year -IBP
Wed Sep 28, 2016 | Reuters A bill ending the requirement that Brazil's state-led oil company Petrobras lead all new projects in the country's Subsalt Polygon should become law by year end, Jorge Camargo, president of the country's oil industry association IBP, said on Wednesday. Petroleo Brasileiro SA, as the company is formally known, has... Continue Reading →
Petrobras to seek builders for six new platforms as of next year: report
Petroleo Brasileiro SA, Brazil's state-run oil company, as of 2017 will begin seeking offers for the construction of six new offshore oil platforms envisioned in current investment plans, according to a newspaper interview published Sunday. In an interview with O Globo, the biggest daily in the company's home base of Rio de Janeiro, Petrobras' director... Continue Reading →
Petrobras wants to contract platform outside of Brazil to be installed in the Libra area
Petrobras wants to contract platform outside of Brazil to be installed in the Libra area, the big bet on the pre-salt Santos Basin. The company requested the National Agency of Petroleum (ANP), the release of the obligation to hire Brazilian suppliers for the construction of the vessel, with the argument that prices in Brazil are... Continue Reading →
Petrobras Cost-Cutting Is Making Traders in Oil-Rig Bonds Uneasy
Oil giant Petroleo Brasileiro SA’s cutbacks are reverberating in the bond market. QGOG Constellation SA, which rents rigs to Brazil’s state-controlled crude producer, has seen its $700 million of notes due in 2019 drop 11 percent in the past three months. The slump reflects mounting concern that Petrobras, as the oil company is known, may not... Continue Reading →
Brazil oil law change key to attracting investment: Statoil
The company logo of Norwegian energy firm Statoil is seen at the headquarters outside Oslo, Norway, November 28, 2014. REUTERS/Berit Roald/NTB Scanpix Norway's Statoil sees changes to Brazil's oil industry laws, including the end of mandatory participation by Petrobras in all subsalt blocs, as key for attracting foreign investment, Chief Executive Officer Eldar Saetre said... Continue Reading →
GE Oil & Gas inks FPSO agreement with MODEC in Brazil
9/7/2016 World Oil LONDON -- GE Oil & Gas has signed a major agreement with MODEC, an owner/operator and EPCI general contractor of floating production systems, to supply and service gas turbines for FPSOs in Brazil. MODEC ordered GE gas turbines for eight FPSOs based in Brazil and signed a 25-year maintenance contract for... Continue Reading →
Brazil prosecutors reject SBM leniency deal for Petrobras graft
Federal prosecutors in Brazil rejected a $328.2 million (247.34 million pounds) deal on Thursday allowing Dutch oil-ship lesser SBM Offshore NV (SBMO.AS) to avoid prosecution for corruption related to its contracts with state-led oil company Petrobras. The decision was made by a federal prosecutor review board, which said numerous problems needed to be addressed before... Continue Reading →
Brazil expects new Petrobras oil-rights deal by year-end
Brazil expects to renegotiate by year-end the price of 5 billion barrels of oil and gas rights purchased by Petrobras in a 2010 stock-for-oil swap, an energy ministry official said on Wednesday, removing a complication in the state-led company's plans to finance and develop major new offshore discoveries. Petrobras bought the rights from Brazil's federal... Continue Reading →
Brazil, Petrobras to revise subsalt oil contract terms this year
Aug 31 The Brazilian government and state-controlled oil company Petróleo Brasileiro SA could finalize a thorough revision of contractual terms for the exploration of a vast offshore oil region before year-end, a senior official said on Wednesday. The revision of a clause granting Petrobras the right to operate a minimum 30 percent of exploration and... Continue Reading →
