Brazil’s Petrobras has said that a court in the U.S. has approved its previously agreed $2.95 B settlement of a class action brought by investors against the company related to corruption. Petrobras said the Federal District in Court in New York approved the settlement on Friday, June 22, 2018, as final. Read more
Petrobras hires DOF Subsea’s OSV in Brazil
DOF said on Thursday that the contract for the utilization of the Brazilian-built OSV Skandi Salvador was awarded to its subsidiary DOF Subsea Brazil. The firm contract will last for 650 days and, by mutual agreement, can be extended by an additional 650 days. The Skandi Salvador is currently working for Shell Brasil and will... Continue Reading →
Shambolic Germany sent packing after loss to South Korea
Champions Germany crashed out of the World Cup after suffering a stunning 2-0 defeat by a tenacious South Korea on Wednesday that eliminated them in the opening round for the first time in 80 years. Read more
Petrobras signs deal to sell distribution in Paraguay
Rio de Janeiro, June 27, 2018 – Petróleo Brasileiro S.A. – Petrobras, following up on the disclosure made on 10/26/2017, informs that its Board of Directors, in a meeting held yesterday, approved the Sale and Purchase Agreement (SPA) for the full sale of Petrobras’ stake in the companies Petrobras Paraguay Distribución Limited (PPDL UK), Petrobras... Continue Reading →
GE To Spin Off Baker Hughes
The separation from Baker Hughes will take place over the next 2 to 3 years as part of GE’s effort to “make its corporate structure leaner and substantially reduce debt,” the company said in a statement. GE Oil and Gas merged with Baker Hughes in July 2017, with GE holding a 62.5% stake. BHGE’s revenue... Continue Reading →
Oil Discoveries Recover, But Still Far From Replacing Output
26 giugno 2018 - 17.22 (Bloomberg) -- After hitting rock bottom in the past two years, global oil and natural gas exploration is picking up again. But it’s still far from replacing what’s being produced. Companies are likely to drill 3 percent more offshore exploration wells this year and boost the number by another 8... Continue Reading →
Petrobras new Chief Financial and Investor Relations Officer election
Rio de Janeiro, June 26, 2018 – Petróleo Brasileiro S.A – Petrobras informs that its Board of Directors, at a meeting held today, appointed the engineer Rafael Salvador Grisolia to the position of Chief Financial and Investor Relations Officer of the company, with an office term until March 26, 2019, the same term of the... Continue Reading →
Exclusive: EIG, Warburg Pincus bid for mature Petrobras oilfield cluster
Warburg Pincus- and EIG Global Energy-backed firms have placed bids for shallow water mature oilfields being sold by Brazil’s state-controlled producer Petroleo Brasileiro SA (PETR4.SA), five sources said, as the private equity firms seek to carve out a presence in Latin America’s top oil producer. EIG Global Energy Partners would provide equity backing for a... Continue Reading →
Rosneft announces first oil gas discovery in the Amazon
Russian Rosneft discovered new signs of natural gas in the SOL-T-169 concession, in the Solimões Basin, in the Amazon, from the well 1-RNB-2A-AM. It is the first discovery notified by the oil company to the National Agency of Petroleum, Natural Gas and Biofuels (ANP), since the company took over the operation at Solimões in... Continue Reading →
GE plans to shed its stake in Baker Hughes
General Electric on Tuesday it will spin off its health-care business and divest its stake in oil-services company Baker Hughes, leaving the once-sprawling conglomerate focused on jet engines, power plants, and renewable energy. The changes aim to reward battered shareholders and strengthen GE's balance sheet by reducing debt, building up cash and further shrinking GE Capital, GE... Continue Reading →
Brazil Energy Insight 