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( Bassoe Rig Analytics) While most regions are reporting lower offshore drilling rig activity, South America is bucking the trend - and this time it's not just Brazil driving demand. The South American rig market, led by Brazilian NOC Petrobras, has encountered its fair share of problems over the past years. The 2014 oil price crash... Continue Reading →
Norway's Aker BP could expand its oil and gas business to other countries if it comes across competitive opportunities abroad, its chief executive told Reuters on Thursday. Any move to invest outside its native Norway would be a change of strategy for Aker BP, which was founded in 2016 through the combination BP's Norwegian unit... Continue Reading →
Outlook for the offshore engineering, procurement and construction (EPC) market in 2021 looks promising, boosted by projects deferred from 2020, according to market research provider Westwood. With a forecast of $29 billion firm or already awarded contracts and a further $16 billion of probable and possible awards, 2021 could, reportedly, match 2019’s $40 billion total.... Continue Reading →
French steel pipemaker Vallourec said on Wednesday it has reached an agreement in principle on financial restructuring with its main creditors. It has filed a request with the commercial court of Nanterre, in greater Paris, for the opening of safeguard proceedings, the company said in a statement. The deal, which reduces its debt by 1.8 billion euros... Continue Reading →
The Administrative Council for Economic Defense (CADE) approved the sale of Total's stake in blocks from Foz do Amazonas to Petrobras. As a reminder, in September last year, the French oil company gave up on the business after successive unsuccessful attempts to obtain Ibama's environmental license for drilling wells in the areas. Petrobras will keep... Continue Reading →
The FPSO Carioca will arrive in Brazil this week, according to Petrobras. The unit will be docked at the BRASFels shipyard in Angra dos Reis. There, the platform ship will go through the latest integration and commissioning activities before leaving for its final destination, the Sepia field, in the Santos Basin. The unit was built... Continue Reading →
(Reuters) - Brazil’s state-controlled oil producer Petroleo Brasileiro SA is considering selling its remaining stake in gas station chain BR Distribuidora if its stock recovers to 26 reais a share, three people with knowledge of the information said. For the first time since the COVID-19 pandemic stalled the sale process, Petrobras has agreed on a... Continue Reading →
Petrobras had its best operating performance in 2020, overcoming considerable challenges arising from the pandemic, contraction in global demand for fuels and low prices. We reached annual production records of 2.28 million barrels per day (MMbpb) of oil and NGL and 2.84 million barrels of oil equivalent per day (MMboed) of total production. Previous production... Continue Reading →
Petrobras opened today the envelopes with the proposals to build their own P-78 and P-79 FPSOs. The Keppel / Hyundai consortium presented the lowest price in Petrobras' bid for the construction of the P-78, the oil company's own FPSO that will be used in the Búzios project. Three Korean shipyards submitted proposals and participated in... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on December 7, 2020, informs that it has received binding proposals for the sale of its entire stake in a set of seven onshore production concessions, called Urucu Cluster, located in the Solimões Basin, in the state of Amazonas, and it has begun the... Continue Reading →
Brazil Energy Insight 