Rio de Janeiro, July 3, 2018 - Petroleo Brasileiro SA – Petrobras, in complement to the Material Fact disclosed today about Partnerships in Refining,  informs that, considering the temporary injunction issued by the Minister Ricardo Lewandowski, of the Federal Supreme Court, under the ADI 5624 MC/DF, which questions provisions of the State-Owned Companies Law (Law... Continue Reading →

Rio de Janeiro, July 3, 2018 – Petróleo Brasileiro S.A. – Petrobras, following up on the disclosures made on 04/27/2018, 05/23/2018 and 06/18/2018 regarding the competitive processes for the formation of partnerships in refining, informs that such processes are suspended until further notice, due to a temporary injunction issued by the Minister Ricardo Lewandowski, of... Continue Reading →

Rio de Janeiro, July 3, 2018 – Petróleo Brasileiro S.A. – Petrobras, in connection with the Material Facts of 03/1/2018 and 06/25/2018, announces that the deposit of the second installment related to the Class Action settlement agreement in the United States was made yesterday, in the amount of US$ 983 million. The company had already... Continue Reading →

Rio de Janeiro, July 3, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it intends to adopt all available legal remedies to challenge an arbitral award rendered yesterday in an arbitration administered by the International Centre for Dispute Resolution regarding a drilling contract entered into between Vantage Deepwater Company and Vantage Deepwater Drilling, Inc.... Continue Reading →

07/03/18 After nearly five years of waiting, the Locar Pipe crane ferry will do its first service. Designed to meet offshore demands, the Locar ferry will debut by launching the pipelines that will connect a floating regasification unit (FSRU) to the Sergipe Thermoelectric Plant, which will be part of the Governor Marcelo Déda Power Generation... Continue Reading →

07/03/18 The signing of the charter agreement for the second definitive FPSO of Mero, in the Santos cluster, is scheduled for 2019. The Libra consortium once again postponed the delivery date of the bidding proposals, postponing the deadline for October 15 , which will probably prevent the completion of the process later this year. The... Continue Reading →

Oil production in Brazil grew for the fourth consecutive year, reaching 2.6 million barrels per day in 2017, up 4.2% over the previous year, according to data from the National Petroleum, Natural Gas and Biofuels Agency (ANP) ). According to an ANP report, the increase was led by the supply of pre-salt oil, which reached... Continue Reading →

World’s largest FPSO provider SBM Offshore is pressing forward with its Fast4Ward program. The program has been designed to standardize the FPSO construction and delivery process, thus reducing cost and speeding up the time to the market. SBM Offshore, whose FPSO fleet produces around 10 percent of global deepwater production, promises the program can make... Continue Reading →

Offshore driller Seadrill Limited has emerged from Chapter 11 after successfully completing its reorganization pursuant to its chapter 11 plan of reorganization. It is worth reminding that, following the launch of the process last September, the U.S. Bankruptcy Court for the Southern District of Texas overseeing the Seadrill’s chapter 11 cases entered an order confirming the driller’s plan of... Continue Reading →

Brazil’s Petrobras will have to pay Vantage Drilling $622.02 million for drilling contract breach. Vantage Drilling said on Tuesday that an international arbitration tribunal issued an award in favor of Vantage Deepwater Company and Vantage Deepwater Drilling, Inc., both wholly-owned subsidiaries of Vantage. According to the offshore driller, the Tribunal found that Petrobras breached the agreement... Continue Reading →