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Upstream dealmakers start 2019 facing an uphill battle. Volatile oil prices and bearish equity markets impede deal flow by creating uncertainty, widening the bid-ask spread, altering financial conditions and making companies re-think near-term strategies, Wood Mackenzie has said. In Q4 2018, as these factors emerged, deal count dropped to its lowest level since Q1 2015,... Continue Reading →
Offshore drilling company Ensco has decided to postpone its general meeting originally scheduled for January 23, 2019. The meeting was scheduled to approve resolutions related to the proposed all-stock merger between Ensco and Rowan, as announced on October 7, 2018. Under the arrangement from October last year, Rowan shareholders were to receive 2.215 Ensco shares... Continue Reading →
Buoyed by the success of seismic imaging that found an extra billion barrels of oil in the Gulf of Mexico, BP is looking to take its latest technology to Angola and Brazil. The software used in the Gulf, based on an algorithm created by Xukai Shen, a geophysicist straight out of Stanford University, led to... Continue Reading →
Schlumberger signed a contract worth over $200 million with oil major Equinor to manage an offshore rig as part of a drilling program in Brazil’s offshore Campos oil basin, a person familiar with the matter said on Thursday. The deal would be the first time an oil services company replaces a drilling-rig contractor, the person... Continue Reading →
The ANP published today in the DOU a list with nine other companies approved for the Permanent Offer. The Agency is also announcing the environmental guidelines of 494 areas planned to be included in the tender offer. Know more: New registrations - Central Resources do Brasil Produção de Petróleo Ltda. - Construtora Kamilos Ltda.... Continue Reading →
1/17/19 TGS began in February the acquisition of 14 thousand km² of seismic data in the Campos Basin. The campaign will cover blocks auctioned at the last rounds, as well as areas that will be offered by ANP in future rounds, such as the 16th of concessions and the 6th of production sharing, scheduled for... Continue Reading →
1/17/19 The oil and gas insurance market will be boosted this year by the Mero field subsea interconnection project and the review of Petrobras' operational program, which covers most of the company's offshore assets. The contracts are expected to generate premiums of up to $ 25 million. The estimate is by Thiago Navega, head for... Continue Reading →
Rio de Janeiro, January 17, 2019 - Petróleo Brasileiro S.A - Petrobras informs that the Administrative Board of Tax Appeals (CARF) issued today, by a casting vote, an unfavorable decision on a tax administrative proceeding that addresses the collection of Corporate Income Tax (IRPJ) related to 2010, on profits earned by controlled and subsidiary companies... Continue Reading →
Norwegian oil and gas intelligence firm Rystad Energy has predicted that offshore spending will outgrow spending on onshore shale activities in 2019 with offshore subsea service companies set to benefit from it. Rystad said on Thursday that, at current oil price levels, spending on land rigs, fracking, and other services for the shale industry was... Continue Reading →
Rio de Janeiro, January 17, 2019 - Petróleo Brasileiro S.A - Petrobras, following up on the Material Facts disclosed on 07/03/2018, informs that its Executive Board has decided to resume the competitive processes for the sale of a 90% stake in Transportadora Associada de Gás S.A ("TAG"), sale of 100% of Araucária Nitrogenados S.A ("ANSA")... Continue Reading →
