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Norwegian offshore and subsea shipping company Siem Offshore believes that overall rate levels will remain volatile and at generally low levels throughout 2019. Siem also expects the imbalance of supply and demand for offshore vessels to remain for several years and continue to put pressure on the charter rates and has therefore prepared for a prolonged... Continue Reading →
A former U.S.-based oil trader sought in Brazil over a multimillion-dollar bribery scheme involving commodities traders Vitol, Glencore and Trafigura has agreed to plead guilty to conspiracy to commit money-laundering in the United States, court records show. The plea is part of a cooperation agreement by a key figure in Brazil’s “Car Wash” probe into... Continue Reading →
Rio de Janeiro, February 27, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, at a meeting held today, approved dividends to shareholders who own non-voting shares, in the amount of R$ 106,678,312.41, corresponding to R$ 0.019043 per outstanding preferred share, based on the 2018 annual results, in order to meet... Continue Reading →
Rio de Janeiro, February 27, 2019 – Petróleo Brasileiro S.A. – Petrobras informs that, in February, it pre-paid bank debts totaling R$ 5,9 billion and US$ 1 billion, according to the table below: Table: pre-payment operations (in million) Bank Pre-payment Original maturity Itaú R$ 95 2021 R$ 313 2023 R$ 386 2024 BNDES R$ 21... Continue Reading →
February 27th, 2019 - FINANCIAL REPORT ANNUAL RESULTS OF 2018 - Consolidated financial information revised by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Net income R$ 2.1 billion Production 2,628 mil boed Adjusted EBITDA R$ 29.2 billion See attached financial reports Release-de-Resultado-4T18-US$-Ingles Release-de-Resultado-4T18-R$-Ingles
Most requests refer to auctioned blocks in the sixth and seventh rounds of the ANP The ANP is reviewing 56 requests for local content additions. Almost half of them (26) were submitted by Petrobras, while 22 by Petra Energia, three by Parnaíba Natural Gas (PGN), two by Niko Brasil E & P and one by... Continue Reading →
2/27/19 The maritime support fleet in Brazilian waters closed January with 367 vessels, of which 328 were Brazilian flag and 39 were foreign flag. The quantity remained stable in relation to December 2018, when 363 vessels (324 Brazilian flag and 39 foreign flag) were in operation or available pending hiring. In all, about 31 vessels,... Continue Reading →
Offshore drilling contractor Rowan Companies sank to a loss in the fourth quarter of 2018 from a profit in the year-before period. The driller says it is cautiously optimistic when it comes to improvements in overall offshore rig demand. For the quarter ended December 31, 2018, Rowan Companies reported a net loss of $14.3 million compared to... Continue Reading →
February 27, 2019 Petrobras postponed the tender submission deadline to charter up to three anchored drilling rigs to March 25, more than a month after the original deadline, which ended Feb. 20. With the new schedule, the tender of the 750 m water depth rigs will be held on March 26, while the 450 m... Continue Reading →
Seismic player Polarcus has reduced quarterly loss when compared to fourth-quarter 2017 as revenues increased close to 80 percent. The Oslo-listed company reported net loss for the quarter ended December 31, 2018 of $18.1 million, versus loss of $91.7 million in Q4 2017. However, Polarcus’ loss widened close to $10 million sequentially, as revenues fell... Continue Reading →
Brazil Energy Insight 