January 29, 2019 SÃO PAULO, Brazil (Reuters) - Petrobras is determined to dispose of assets in Brazil's refining sector, where it has a virtual monopoly, and the idea is not to restrict the process, either in terms of buyers or in terms of geography or participation. be negotiated, the president of the state-owned company, Roberto... Continue Reading →
Hess cuts losses in fourth quarter 2018
U.S. oil company Hess reduced its net loss for the fourth quarter 2018 compared to the prior-year period on the back of exploration and production business and higher crude oil and gas prices. Hess on Wednesday reported a net loss of $4 million in the fourth quarter of 2018, compared to a net loss... Continue Reading →
Petrobras – Clarification on Sale of Pasadena Refinery to Chevron
Rio de Janeiro, January 30, 2019 - Petróleo Brasileiro S.A. - Petrobras clarifies that, according to Petrobras' Divestment Methodology, the following stages of divestment projects must be disclosed to the market: teaser, beginning of the non-binding phase (if applicable), beginning of the binding phase, granting of exclusivity for negotiation (if applicable), transaction approval by senior... Continue Reading →
PetroRio buys Chevron’s 51.74% stake in Frade
1/30/2019 PetroRio informs its shareholders of a Share Purchase Agreement for the acquisition of Chevron Brasil, a limited company holding a 51.74% interest in the concession and operation of the Campo de Frade, as well as equivalent interests in the assets of the field. Once completed, this acquisition will be added to the previously... Continue Reading →
ABS approves Wison floating gas to methanol vessel design
China’s Wison Offshore & Marine has received an approval in principle from the American Bureau of Shipping (ABS) for its latest floating natural gas to methanol (FGTM) vessel. Wison said that the fully integrated gas-to-methanol system could eliminate heavy upfront capital expenditure during offshore LNG production. Continue reading
Petrobras – Favorable decision of CARF related to social contributions on remittances abroad for payments of vessel charters
Rio de Janeiro, January 29, 2019 - Petróleo Brasileiro SA - Petrobras informs that the Administrative Board of Tax Appeals (CARF) pronounced, on this date, by majority, favorable decision to the company regarding fiscal administrative proceedings, totaling the approximate amount of R$ 11.9 billion, resulting from tax assessments drawn up by the Brazilian Federal Revenue... Continue Reading →
Brazil govt aims to sell at least $20 billion in assets this year
Brazilian President Jair Bolsonaro’s government wants to sell at least $20 billion in assets of state-owned companies this year including parts of Petrobras and Banco do Brasil, the country’s secretary of privatization said on Tuesday. Salim Mattar said the government wants state-controlled oil company Petroleo Brasileiro SA and lenders Banco do Brasil SA and Caixa... Continue Reading →
Petrobras – Change in the appointment for Chief Strategy, Organization and Management System Executive Officer
Rio de Janeiro, January 28, 2019 – Petróleo Brasileiro S.A. – Petrobras informs that it received a letter from Mr. Lauro Cotta, appointed to occupy the position of Chief Strategy, Organization and Management System Executive Officer, communicating that, for particular reasons, he can not accept the appointment. As announced to the market on January 10,... Continue Reading →
U.S. warns of ‘serious consequences’ after Venezuela moves against Guaido
The Trump administration warned of “serious consequences” after Venezuela’s government moved to freeze the bank accounts of self-proclaimed interim president Juan Guaido on Tuesday, while state-run oil company PDVSA sought to sidestep U.S. sanctions. The sweeping sanctions on PDVSA, announced on Monday and aimed at curbing crude exports to the United States and driving... Continue Reading →
Rovco and Global Marine Group Bring New IRM Solutions to Market
Rovco has formed an invested partnership with Global Marine Group (GMG) to bring intelligent inspection, repair and maintenance (IRM) solutions to the global offshore market. GMG, made up of three business units – Global Offshore, CWind and Global Marine – has secured a 13.8% share in the Bristol and Aberdeen based remotely operated vehicle (ROV)... Continue Reading →
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