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February 8, 2019 The board of the National Petroleum Agency (ANP) has decided to suspend contracts for exploration blocks PEPB-M-783 and PEPB-M-839, operated by Petrobras in the Pernambuco-Paraíba Basin, until IBAMA expresses its opinion on the feasibility of exploring oil and gas in the region. With this, it extended for 180 days the commitment of... Continue Reading →
The Mexican government’s planned aid package for Petroleos Mexicanos could be slapping on a Band-Aid when a tourniquet is needed to stem the bleeding. Pemex, the most indebted oil company in the world, saw its annual oil output fall to the lowest since at least 1990 last year, and Fitch Ratings downgraded its bonds last week to one notch... Continue Reading →
Floating production unit specialist Teekay Offshore has said it has secured a contract extension for one of its FPSOs in Brazil. Teekay Offshore on Friday said it had in January 2019 signed a long-term contract extension with Petrobras to extend the employment of the Piranema Spirit FPSO on the Brazilian Piranema field. The contract extension began in... Continue Reading →
Norwegian oilfield services provider Aker Solutions recorded an increase in profit in the last quarter of 2018 from the same period in 2017 on the back of higher revenues. The company sees continued signs of a recovery in the global market. The company’s revenue rose to NOK 7 billion in the fourth quarter 2018 from... Continue Reading →
Norwegian offshore vessel owner Solstad Offshore has entered into contracts for three of its large platform supply vessels (PSVs) and an anchor handler. In addition, Solstad has entered into a new contract for the 2009-built AHTS Far Sagaris with Queiroz Galvão Exploração e Produção S.A (QGEP) in Brazil. This new charter contract is firm for... Continue Reading →
Rio de Janeiro, February 7, 2019 - Petróleo Brasileiro S.A. - Petrobras, following up on the Press Releases of 07/07/2018 and 08/29/2018, hereby informs that, within the scope of its ongoing process of contingency assessment, it will make a provision for the amount provided in the award issued in the arbitration filed by Vantage Deepwater... Continue Reading →
The U.S. Justice Department is investigating a former U.S.-based oil trader for Brazil’s Petrobras already charged in his home country with taking part in a corruption scheme involving commodity companies Vitol SA, Glencore PLC and Trafigura AG, according to people familiar with the matter. It was the first confirmation that U.S. investigators have joined a... Continue Reading →
Feb, 2019 Norwegian Equinor believes that it is possible to reduce breakeven of the Carcará field in the Santos Basin. According to the company's head of operations in Brazil, Margareth Øvrum, it is possible to reduce the breakeven to US $ 35 dollars per barrel. The statement was made during a capital market event... Continue Reading →
Brookfield Asset Management Inc., one of the world’s largest alternative asset managers, wants to capitalize on a wave of privatizations in Brazil as the new government of Jair Bolsonaro government moves to bring fiscal discipline to the country. Brookfield’s various subsidiaries, including its infrastructure arm, have been actively investing in Brazil in recent years, including... Continue Reading →
Danish offshore driller Maersk Drilling returned to profit in 2018 from a loss in 2017 while its revenues decreased due to lower day rates. The driller has said in its annual report for 2018 it is seeing signs of continued recovery in the offshore drilling market. In 2018, Maersk Drilling’s revenue declined by 1% to... Continue Reading →
Brazil Energy Insight 