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Brazilian independent oil company QGEP has reduced average daily oil production from its Atlanta field offshore Brazil. QGEP said on Wednesday that, since the initial production started on May 2, the Atlanta field’s reservoir “satisfactorily corresponded to the company’s expectations.” However, due to the malfunction of the well pumps immediately after startup, the pumps on... Continue Reading →
Rio de Janeiro, August 9, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it has received a return of R$ 1.034 billion through cooperation and leniency agreements signed with individuals and legal entities by the Federal Public Prosecutor's Office in Curitiba and by the Office of the Attorney General in Brasília under Operation Car... Continue Reading →
The Brazilian Fiscal Authority has again updated the "Questions and Answers" contained in the Repetro Manual, and included important clarifications regarding the definitive modality of importation within the scope of Repetro-Sped. Firstly, the possibility of replacing the beneficiary was confirmed, before the end of the 5 year suspension period, in relation to goods imported... Continue Reading →
August 09, 2018 BE Petroleo presents Petrobras estimates for offshore drilling and completion operations Petrobras' demand for offshore wells is expected to grow again in 2019 after four years of decline. According to company estimates to which BE Petróleo had access, 47 wells to be drilled and the completion of 50 wells for next year,... Continue Reading →
Offshore driller Vantage Drilling saw its revenue rise and net loss narrow in the second quarter of 2018. The Cayman Islands exempted company recorded a 2Q revenue of around $60 million, an increase compared to $53 million in the second quarter of 2017. Read more
Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the second quarter ended June 30, 2018, including net income of $46 million, or $0.26 per diluted share. Financial highlights for the second quarter include: Generated adjusted income of $63 million, or $0.36 per diluted share Achieved annualized year-to-date EBITDA to average... Continue Reading →
Rio de Janeiro, August 7, 2018 – Petróleo Brasileiro S.A. – Petrobras, further to the material facts disclosed on 5/28/18, 6/1/18 and 6/8/2018, informs that its Board of Directors, after deliberation of the Executive Board and following internal governance for approval, approved in a meeting held yesterday the company’s adhesion to the 3rd phase of... Continue Reading →
07/08/18 The field produced 2.94 thousand barrels / day in April, a smaller volume than the first month of production Oil production in the Papa-Terra field in the Campos Basin reached its lowest level in April, even in relation to the first month of production in November 2013. According to BE Petróleo survey, the field... Continue Reading →
07/08/18 Equipment promises greater flexibility and availability than current models By the Editor Petrobras has developed, in partnership with the French company Eca Hytec, a compact prototype ROV (remote operated vehicle) that promises greater flexibility, reaching more complex places and able to work in severe sea conditions. The equipment will be presented to the market... Continue Reading →
Aug, 6, 2018 The Shipbuilding Industry is in search of new opportunities due to the crisis that the sector is living in the Country. The Shipyards, at the moment, are idle because of the absence of demands of shipbuilding. The opportunity for decommissioning of oil and natural gas platforms appears as the great alternative, since... Continue Reading →
Brazil Energy Insight 