This is the first time that Dilma Rousseff and the federal govt. are willing to discuss changes in the Pre Salt legislature , which includes Petrobras role as sole operator of the pre salt fields and the local content rule. Senate president, Renan Calheiros, had previously confirmed that the bill written by senator Jose Serra... Continue Reading →
Shell Makes Brazil One of Top Three Countries After BG Merger
Royal Dutch Shell Plc. has made Brazil one of its top three countries after completing a merger with BG Group Plc, and sees the South American nation’s deep-water fields remaining competitive for years to come. Brazil “will remain a key destination country for us for investment dollars for at least another decade,” Chief Executive Officer... Continue Reading →
Shell says investment in Brazil subsalt to remain robust
Feb 15, 2016 Reuters Royal Dutch Shell (RDSa.L), Europe's largest oil company, believes that investment in Brazil's subsalt offshore areas will remain robust, Chief Executive Ben van Beurden said in Rio de Janeiro on Monday. Van Beurden said that subsalt areas should be able to break even at oil prices expected this year. The... Continue Reading →
Sembcorp Marine Posts First Loss Since 2003 on Brazil Impact
Sembcorp Marine Ltd., the world’s second-largest builder of oil rigs, posted its first quarterly loss in at least 12 years after it took a one-time charge and as plunging oil prices pushed customers to delay or cancel orders for offshore drilling projects. The net loss in the fourth quarter totaled S$537 million ($384 million), the... Continue Reading →
Halliburton Said to Plan Sale of Baker’s Offshore Fluids Unit
Almost 16 months after announcing its takeover of oilfield services rival Baker Hughes Inc., Halliburton Co. is adding yet more assets to the list of businesses it plans to sell to appease antitrust regulators who’ve been stalling the deal. Halliburton plans to divest Baker’s offshore drilling-and-completions fluids division and the bulk of Baker’s completion systems, according to... Continue Reading →
Technip Awarded a Subsea Contract for the South Santa Cruz and Barataria Fields in the Gulf of Mexico
February 09, 2016 PARIS--(BUSINESS WIRE)--Regulatory News: Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been awarded a lump sum contract by Deep Gulf Energy III, LLC (“DGE”) for the development of the South Santa Cruz and Barataria fields. These ultra-deepwater fields are located in Mississippi Canyon, offshore New Orleans, in the Gulf of Mexico, in approximately 2,000... Continue Reading →
Seadrill Deepens Cost Cuts to Ride Out CEO’s Worst Rig Slump
Seadrill Ltd., once the crown jewel among billionaire John Fredriksen’s oil and shipping holdings, is deepening planned cost reductions this year as it attempts to make it through the worst market slump its chief executive has ever seen. Savings will exceed the $200 million target announced in November, adding to the more than $600 million... Continue Reading →
UPDATE 1-Petrobras slashes oil reserves to lowest level in 14 years
Jan 29 Brazil's state-led oil company Petrobras slashed its oil and natural gas reserves 20 percent on Friday as a plunge in oil prices, a heavy debt load, high costs and a corruption scandal choke off the potential of a decade of giant but expensive discoveries. The cut, reported in a securities filing, reduced proven... Continue Reading →
Producing fields can sustain Petrobras for 2-3 years of low prices -board member
Jan 29 Oil and gas fields already paid for and in production can sustain Brazilian state-run company Petroleo Brasileiro SA for two to three years of low prices, a board member for the firm told reporters on Friday. "We have various fields where the cost per barrel is $50 and most or all of them... Continue Reading →
Material Fact: Petrobras’ Proven Reserves in 2015
01/29/2016 Rio de Janeiro, January 29, 2016 – Petróleo Brasileiro S.A. - Petrobras announces its proven reserves of petroleum (oil, condensate and natural gas), assessed at the end of 2015 according to ANP/SPE (National Petroleum, Natural Gas and Biofuels Agency / Society of Petroleum Engineers) and SEC (US Securities and Exchange Commission) criteria. Proven Reserves... Continue Reading →
