Rio de Janeiro, March 29, 2019 – Petróleo Brasileiro S.A. – Petrobras reports that today it filed its 2018 Form 20-F with the U.S. Securities and Exchange Commission (SEC). Form 20-F is a SEC requirement and must be filed annually by foreign issuers with shares traded on US stock exchanges, pursuant to U.S. securities’ market... Continue Reading →
Developing Brazil’s Goldilocks Oil Wealth: It Will Be Better This Time
What makes some oil plays more valuable than others? The answer: big discoveries in excellent reservoirs that are cheap to exploit. Few places on earth do all three. Brazil does, as I was reminded on a trip to Rio last month. Its pre-salt Santos basin fields, such as Lula and Libra, have these attributes in... Continue Reading →
BP and Shell Both Claim to Be Number One in Investor Returns
In the cutthroat game of global capitalism, there can be only one winner. Unless you’re an oil company. Both BP Plc and Royal Dutch Shell Plc are claiming the top spot for investor returns within their peer group from 2016 to 2018. That’s an important metric -- taking first place was a significant element in the doubling of Shell Chief Executive... Continue Reading →
Partnerships to Expand Ocyan’s Services for O & G Sector
3/29/2019 Ocyan has adopted a business model to offer more integrated services to the offshore market in Brazil. The strategy is to bring to the country technological solutions that can be applied in the sector, through partnerships with foreign companies that have technologies used outside Brazil, but still do not act locally. The first agreement... Continue Reading →
Petrobras informs on the sale of Liquigás: Opportunity Disclosure – Teaser
Rio de Janeiro, March 29, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (Teaser), related to the sale of Liquigás Distribuidora S.A. (Liquigás). Liquigás is a wholly owned subsidiary of Petrobras and operates in bottling, distribution and sale of liquefied petroleum gas (LPG). The company operates in... Continue Reading →
Equinor advances in Norte de Carcará
March 29, 2019 Equinor made its second discovery in the area of Norte de Carcará, in the pre-salt of the Santos Basin. The West Saturn drill ship found evidence of hydrocarbons during the drilling of the 3-EQNR-1-SPS well in water depth of 2,079,000 m. The identification was made less than two months after the beginning... Continue Reading →
PPSA has new CEO, José Eduardo Gerk, as of April
March 29, 2019 The Board of Directors of PPSA (Pre-Salt Oil) chose mechanical engineer José Eduardo Vinhaes Gerk as its new CEO. He will take over from April 1 in the place of engineer Ibsen Flores Lima. Gerk will also have a vacancy in the board of directors of the state-owned company. The new president... Continue Reading →
A.P. Moller – Maersk Aborts Maersk Supply Service Sale
A.P. Moller – Maersk has decided to retain full ownership of Maersk Supply Service, a company operating in the offshore support vessel industry. The company decided to retain the ownership of Maersk Supply Service after investigating several structural solutions but couldn’t find the right fit, due to signs of distress in the offshore support vessel... Continue Reading →
Tullow picks second well target for Guyana drilling campaign
Oil company Tullow and its partners on the Orinduik Block offshore Guyana have approved the drilling budget and the location of the second well of the 2019 drilling program Tullow Oil holds a 60% interest in the 1,800 km2 Orinduik Block in the shallow water of the prospective Suriname-Guyana basin. Its partners are Total with... Continue Reading →
SBM Offshore denies withholding price sensitive information
Dutch FPSO supplier SBM Offshore might need to pay 2 million euros for not disclosing price sensitive information timely between 2012-2014, which SBM has denied. This was related to SBM’s internal investigation over alleged improper payments by its agents to sales agents and foreign government officials in Equatorial Guinea, Angola, and Brazil in the period... Continue Reading →
