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NDT inspections specialist TSC Subsea has opened a new base in Rio de Janeiro as part of its plans to expand across Brazil and further into Latin America. TSC Subsea had so far supported Brazil remotely but decided to open a permanent base in response to increased operations. The company, which has bases in the UK... Continue Reading →
Τhe FPSO market is booming this year, with more contracts awarded in the second quarter of 2021 than during the full year 2020. Rystad Energy expects FPSO awards to reach a total of 10 units in 2021, with another 10 following next year, creating a very healthy project line-up for contractors, effectively doubling their pipeline.... Continue Reading →
Reuters) Norway's BW Energy and Brazil's DBO Energy have sent bids for Petrobras' offshore oil cluster Golfinho PETR4; PETR3, two knowledgeable sources told Reuters. The oil company has sold dozens of assets in recent years – from oil pipelines to refineries – in order to reduce its debt and focus on oil production in deep... Continue Reading →
(Reuters) - Brazil is growing its marine fuel oil exports to Asia's lucrative premium hubs, where rules mandating lower sulphur content have been squeezing out most of its Latin American peers, according to sources and data. Fuel oil exports are the second largest source of energy revenue for most Latin American oil producers. The tougher... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on October 15, 2020, informs that the Company's Board of Directors, in a meeting held today, approved the sale of its total interest in a set of seven onshore and shallow water concessions called Alagoas Cluster, located in the state of Alagoas, to the... Continue Reading →
(Reuters) Angola has accumulated around $1 billion in debt to western oil companies operating its oilfields, with the bill prompting the African country’s recently launched sale of stakes in its flagship offshore blocs, three industry sources told Reuters. The magnitude of the debt, built up over several years, is a sign of deepening financial woes... Continue Reading →
(Reuters) - Swiss prosecutors said on Wednesday they are investigating whether bribery, money laundering or other crimes linked to Ecuador oil trading were committed in Switzerland following a U.S. criminal case against an ex-Gunvor Group employee. U.S. prosecutors are investigating "the suspected bribery of Ecuadorian public officials and money laundering," the Swiss attorney general's office... Continue Reading →
Dutch floater operator SBM Offshore has completed the project financing for a total of $1.05 billion for the FPSO Prosperity, which is destined to operate on ExxonMobil’s Payara development offshore Guyana. The project financing, secured by a consortium of 11 international banks, will be drawn in full, phased over the construction period of the FPSO.... Continue Reading →
Brazilian oil company Enauta said Monday it had completed the transfer of a 50% stake in the Atlanta offshore field, previously held by Barra Energia. Enauta in April said it had received regulatory approval to take full ownership of the Atlanta offshore oil field in Brazil, following the decision by its partner Barra Energia to exit... Continue Reading →
Ratings agency Moody's Investors Service said on Tuesday that a credit upgrade of Mexican state oil company Petroleos Mexicanos is unlikely given its consistent negative free cash flow generation, despite a recovery in oil prices. Moody's said that its Ba2 credit rating for Pemex, as the company is known, includes the assumption of "very high... Continue Reading →
Brazil Energy Insight 