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Oilfield services provider National Oilwell Varco said Monday it would change its corporate name to “NOV Inc.”, effective January 1, 2021. The company’s ticker symbol, “NOV”, will remain unchanged. Clay Williams, Chairman, President, and CEO said: "Our company has a long and proud legacy of innovation and technology dating back to the earliest days of... Continue Reading →
The oil company announced to its shareholders this morning that it will assume the entire stake in the Atlanta Field, in the BS-4 block of the Santos Basin. Looking to the future, the company is now preparing to start a bidding process to contract the definitive FPSO for the field - which today has an... Continue Reading →
Norway-based offshore vessel owner Solstad Offshore said Monday it has secured a contract extension for one of its vessels in Argentina. The contract extension is for the construction support vessel Normand Commander, with Bahia Grande LN S.A. Under the three-year extension, the vessel will now remain with Bahia Grande until October 2026. Solstad Offshore did... Continue Reading →
Rio de Janeiro, December 17, 2020 - Petróleo Brasileiro S.A. - Petrobras informs that, on this date, the payment of R$ 190 million was made to the Pension Fund of the Employees of the Bank of Brazil - Previ, due to the agreement that ended the arbitration litigation proposed by Previ in order to obtain... Continue Reading →
The oil tanker Eagle Passos, a vessel of the AET company, has already departed for Brazil and will reinforce the Transpetro fleet. The new unit left the Samsung Heavy Industries shipyard in South Korea and is expected to dock in Rio de Janeiro around the 11th of next month. Eagle Passos is the latest in... Continue Reading →
Australian oil and gas company BHP, working to develop the Trion field offshore Mexico, has hired DNV GL to verify that the new infrastructure built for the Trion project is compliant with local and global safety, as well as other requirements. BHP acquired the Trion asset in Mexico’s first-ever Deepwater Bid Round in 2016. The... Continue Reading →
The 10 Year Energy Plan (PDE) 2030 is in public consultation this week, bringing some expressive forecasts about how the oil and gas sector in Brazil will develop in this decade. The document points out that the exploration and production (E&P) segment should receive investments between US$ 415 billion and US$ 454 billion in the... Continue Reading →
Forbearance agreements between offshore drilling contractor Seadrill Limited and its creditors related to the company’s senior secured credit facility agreements and leasing arrangements have expired. As a result, Seadrill is exposed to legal actions if it fails to make necessary payments on time. Seadrill entered into forbearance agreements with certain creditors in respect of its senior... Continue Reading →
The challenges of 2020 have made their mark on offshore rig values but have they reached the trough? Bassoe's Hans Hagelberg takes a deeper look. It may be the understatement of the decade, but the offshore rig market has had a pretty bad year. The Coronavirus pandemic and collapsing commodity prices have resulted in dozens... Continue Reading →
Late 2018, before net-zero targets had been agreed to by most western energy giants and nations, BP came out with a goal to reach 100% of subsea inspection by marine autonomous systems by 2025. It was a tangible goal then, and it’s one that might now be reached faster as remote and more “digitally” oriented... Continue Reading →
Brazil Energy Insight 