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Apr 14, 2020 Increased contingency at Petrobras. The company is serious about cutting people, reducing wages and stopping some activities. Almost 40 company platforms will stop producing oil and gas. The company sent a letter to Sindipetro informing about these actions. In the letter, the company offers three options to employees of the units that... Continue Reading →
Apr 14, 2020 The oil price crisis, aggravated by the drop in demand due to the new coronavirus pandemic, forces large oil companies to cut costs, cut investments and concentrate efforts on more profitable assets. The scenario, however, is more complex for small and medium producers, who, in general, have fewer opportunities to reduce costs... Continue Reading →
Brazil's state-run oil company Petroleo Brasileiro SA said in a letter to the workers union on Thursday that it will idle six oil and gas platforms in five fields of the Campos basin due to the coronavirus epidemic. The company said the idling was aimed at reducing costs in the middle of the crisis hitting... Continue Reading →
March 30, 2020 Investment cut leads large companies, such as Schlumberger and TechnipFMC, to reduce expenses and postpone projects The fall in the price of oil in recent weeks has led to a wave of investment cuts by global oil companies and, little by little, this movement begins to affect the chain of suppliers of... Continue Reading →
Two new dive support vessels (DSV) operated by Belov Engenharia Ltda. have completed class commissioning and are currently performing client acceptance testing for Petrobras. Built at Belov's own fabrication facility in Salvador, the newbuilds Belov Amaralina and Belov Humaitá are of Robert Allan Ltd.'s RAlly 4000’s Class design, fitted with Dynamic Positioning System (DP2), four... Continue Reading →
Brazilian oil company Petrobras on Thursday said it was dialing back short-term production, delaying a dividend payment and trimming its 2020 investment plan, among other measures aimed at reducing costs in the face of the coronavirus pandemic. In a securities filing, Petroleo Brasileiro SA, as the state-run firm is formally known, said it was reducing... Continue Reading →
March 19, 2020 - Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), following best practices in corporate governance, updates its shareholders and the market in general about the results of the 3rd Phase of Polvo’s (“Polvo”, or “Field”) Revitalization Plan and the resulting impact from lower royalty rates incurring on the production of the new wells.... Continue Reading →
March 18, 2020 Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), following best practices in corporate governance updates its shareholders and the market in general on the ongoing initiatives to protect its employees and stakeholders, given the current market uncertainties and volatility stemming from the new coronavirus outbreak and recent drop in Brent oil prices.... Continue Reading →
February 27, 2020 Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), referring to the sale of all its equity interest in Merluza and Lagosta fields, located in the shallow waters of Santos Basin. The teaser, which includes key information about the opportunity, as well as the eligibility criteria... Continue Reading →
Brazil Energy Insight 