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The pressure is building on North Sea drillers starved of contracts as Statoil ASA deepens cuts in investment to cope with a collapse in crude prices. In less than 18 months, Norway’s biggest oil company has scrapped four years worth of drilling by canceling or suspending rig contracts, according to Bloomberg calculations based on Statoil... Continue Reading →
Diamond Offshore Drilling Inc, one of the world's top-five offshore rig contractors, said contracts for two rigs with Brazil's Petrobras had ended ahead of schedule. The company said it had secured an 875-day extension on another rig working for the Brazilian oil and gas producer in exchange for the terminations. Diamond, which also reported a... Continue Reading →
Oil majors had big plans for Brazil, but you can’t tell by looking at the country’s offshore drilling these days. After crude was first struck in the pre-salt formation in the seas off Rio de Janeiro, producers including BP Plc and Total SA were ready to flock to Brazil with billions of dollars in investments.... Continue Reading →
Eni SpA agreed to sell a stake in oil-services company Saipem SpA to Fondo Strategico Italiano SpA in an effort to get its debt off the balance sheet. Eni, which owns 43 percent of Milan-based Saipem, sold a 12.5 percent interest to Italian state-controlled Cassa Depositi & Prestiti’s FSI investment fund, Eni said in a statement... Continue Reading →
Cutbacks by Brazil’s state oil company has one of its main suppliers exporting local talent to an unlikely location: Venezuela. Schlumberger Ltd. is increasing activity in the neighboring country even as it continues to trim its global workforce in response to weakening demand for its goods and services elsewhere, according to a person familiar with... Continue Reading →
Technip Awarded a Substantial Contract to Supply the First Flexible Pipes for the Libra Pre-Salt Field Confirming its strong expertise in deepwater and leveraging its technological leadership October 27, 2015 02:00 AM Eastern Daylight Time PARIS--(BUSINESS WIRE)--Regulatory News: “gas injection flexible pipes. Designed to produce the first Libra field oil, they are the first 8’’... Continue Reading →
Era Group Inc. (NYSE: ERA) ("Era"), a leading helicopter transport operator based in the United States, announced that Aeróleo Taxi Aero S/A, its Brazilian joint venture ("Aeroleo"), received notification today from Petroleo Brasileiro S.A. ("Petrobras") that Petrobras will cancel the ongoing tender process for heavy and medium helicopters. In its notification, Petrobras noted its determination... Continue Reading →
Brazil has told Dutch SBM Offshore NV, the world's top oil production ship leaser, to agree soon to a $250 million bribery settlement if it wants to regain its biggest client in the world's largest oilship market, a government source told Reuters. The ultimatum gives SBM several days to sign a leniency deal that includes... Continue Reading →
Cheap oil requires companies to better plan in Brazil, ANP says Oct 20 (Reuters) - Current global oil prices should lead companies operating in Brazil to better plan their field developments, Magda Chambriard, president of oil industry watchdog ANP, said on Tuesday. "The actual price of a barrel of petroleum demands more dedication to planning... Continue Reading →
Sevan Drilling Ltd: Press Release 16.10.2015 Reference is made to the Company's press release dated 29 June, 2015, regarding Brazilian authorities' investigation into corrupt activities involving Petrobras. In 2011, Sevan Drilling was separated out from the 100% ownership of Sevan Marine ASA and listed separately on the Oslo stock exchange.The Company notes that Sevan Marine... Continue Reading →
