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Activity in the deepwater sector took a huge hit in the second half of last decade as a result of a global oil demand/supply imbalance, downturn in oil prices, hiatus in Petrobras production floater orders and large industry cutbacks in upstream spending. The downturn was the worst to ever hit the offshore sector. Orders for... Continue Reading →
February 10th, 2019 After several years of stagnation, we have delivered an excellent operating performance. Reaching daily, quarterly and annual oil and gas production records. In 4Q19, oil and gas production reached 3.025 million barrels of oil equivalent per day (MMboed), which represents a new landmark in Petrobras history, as we break through the 3.0... Continue Reading →
February 07, 2020 - Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), regarding the sale of all its equity stake in its Nitrogen Fertilizer Unit III (UFN-III ). The teasers, which contain key information about the asset, as well as the eligibility criteria for selection of potential participants,... Continue Reading →
February 10, 2020 Total plans to drill in block CM-541, in the Campos Basin pre-salt, between the end of this year and the beginning of 2021, informed the company's E&P director, Arnaud Breuillac, during a conference call with analysts last Thursday (6/2). According to the company, there are two “giant world-class” prospects in the asset,... Continue Reading →
Constellation said last week it had secured a three-year drilling contract for the Atlantic Star rig. The Atlantic Star is a midwater semi-submersible drilling rig which was originally constructed in 1976 and was acquired by Constellation in 1997. Continue reading
Brazilian drilling contractor Sete Brasil and Singapore’s offshore rig builder Sembcorp Marine have fulfilled all conditions precedent for a settlement regarding contracts for the construction of seven drillships to become effective and Sembcorp Marine is now in talks with a buyer for the completion of two drillships. Sembcorp Marine said on Thursday that all conditions... Continue Reading →
Tanker operator AET has won a long-term deal with the Brazilian oil company Petrobras for the charter of three shuttle tankers that will offload oil from Petrobras' offshore oil platforms and FPSOs. AET said Thursday the long-term charters would be for three Suezmax class Dynamic Positioning Shuttle Tankers (DPSTs). Continue reading
A former trader at oil firm Petrobras has signed a plea bargain agreement with Brazilian prosecutors investigating bribery allegations, defense lawyers and prosecutors said, a potential breakthrough in a case involving some of the world’s top commodity trading houses. Rodrigo Garcia Berkowitz, who was a trader at Petrobras’ Houston office until he was charged with... Continue Reading →
Feb 04 ,2020 A Petrobras, following up on the press release disclosed on 01/17/2020, informs the beginning of the binding phase related to the sale of 100% of the shares held by Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI), a subsidiary of Petrobras, in Petrobras Uruguay Distribuición S.A. (PUDSA). Potential buyers qualified for this phase... Continue Reading →
Petroleo Brasileiro SA is starting this decade much the same way it started the last: with a highly anticipated share sale. The similarities end there. Back in 2010, Petrobras was a booming oil powerhouse with ambitions to more than double output and cement its monopoly on a massive offshore oil discovery. In 2020, it is a scandal-scarred... Continue Reading →
