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The Gulf of Mexico has been the vanguard of global experimentation for offshore oil, and success this time could encourage more drilling in the world’s hot new oil basins in countries including Brazil, Guyana, Mexico, and Mozambique. Further on, it could even encourage more U.S. offshore production, if President Trump is able to fulfill his plan to... Continue Reading →
Let the newbuilds come. The jackup market is far from oversupplied. We like to predict the future of the rig market. That involves extrapolating current trends, looking at history, listening to what oil companies and rig owners are saying, and (admittedly) speculating sometimes. But it doesn’t take a lot of speculating to conclude that the... Continue Reading →
Rio de Janeiro, June 20, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that today it prepaid a debt with Crédit Agricole CIB, in the amount of US$ 500 million, whose maturity would occur in 2022. Simultaneously, it borrowed new financing with the same bank, in the amount of US$ 400 million, with maturity in... Continue Reading →
Keen to add to its production base, ExxonMobil hopes to have the oil flowing from offshore Guyana within two years It's not yet certain whether the tiny Caribbean state of Guyana is in good shape to handle the revolutionary economic and social impact of a multi-billion-dollar oil industry, but we are about to find out.... Continue Reading →
Brazil’s move to ease rules forcing oil producers to buy from domestic suppliers means Latin America’s top producer will be able to sustain output of 5 million barrels per day (pbd) by the mid-2020s, compared to just 3.7 million bpd under prior rules, consultancy Wood Mackenzie said in a report on Wednesday. Read more
06/20/18 Brazilian Petrodin Offshore has signed a memorandum of understanding with Shangai Shipyard on May 22, which provides for the purchase or leasing of three anchored rigs. The company intends to compete in Brazil, West Africa and in the future in Argentina to make the operation viable. Each rig - the Tiger 2, 3 and... Continue Reading →
06/20/18 Approximately US $ 150 million in investments to drill 200 new wells and intervene in 500 existing ones, generating more than 2 thousand jobs. This is the scenario outlined by a study of BHGE so that the production of onshore assets put up for sale by Petrobras will resume 2014 levels. In that year,... Continue Reading →
Rio de Janeiro, June 18, 2017 – Petróleo Brasileiro S.A. – Petrobras, in compliance with article 12 of CVM Instruction no. 358, dated of 1/3/2002, informs that it was notified by BlackRock, Inc. ("BlackRock") that the latter has sold preferred shares issued by the company, and as of June 14, 2018 it manages shareholding interest... Continue Reading →
Rio de Janeiro, June 18, 2018 – Petróleo Brasileiro S.A. – Petrobras, further to the material fact of 04/03/2018 and press release of 05/23/2018, announces the beginning of the non-binding phase related to the sale of its entire stake in Baúna field (concession area BM-S-40), located in shallow waters in the Santos basin. At this... Continue Reading →
Rio de Janeiro, June 18, 2018 – Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact of 04/03/2018 and Press Release of 05/23/2018, informs the beginning of the non-binding phase related to the sale of 50% of its non-operated working interest in Tartaruga Verde field (BM-C-36 Concession) and Module III of Espadarte field,... Continue Reading →
Brazil Energy Insight 