Petronoticias Petrobras President Pedro Parente resigned this morning (1), after a meeting with President Michel Temer. His resignation from the presidency of Petrobras did not take the market by surprise, since he accepted to assume the Presidency of the Board of Directors of BRF. The very pressure of the oil workers asking for his exit... Continue Reading →
Brazilian pre-salt continues to deliver high productivity performance, says GlobalData
Presently, ultra-deepwater Brazilian pre-salt prevails by delivering high productivity performance assurance to the industry expectations and to the government advantage, according to GlobalData, a leading data and analytics company. The top ten planned and announced pre-salt areas in Brazil will spend over $220 billion throughout their lifetime in capital and operating expenditure. These projects are... Continue Reading →
Brazil returns to normal as oil strike, trucker protests wind down
Brazil’s economy showed signs of returning to normal on Thursday as the largest oil workers union ended a strike well ahead of schedule and an 11-day truckers protest appeared to dissolve. Oil workers union FUP recommended on Thursday that members suspend a 72-hour strike they began on Wednesday after a court said the organization would... Continue Reading →
SolstadFarstad vessel trio in Petrobras charter extensions
Norway’s offshore vessel provider SolstadFarstad has entered into a new contract and contract extensions with Brazil’s Petrobras. The deals are for Solstad Farstads two anchor handlers and one construction support vessel. The Norwegian company’s AHTS vessel BOS Topazio has been awarded a 3-year firm contract, expected to start in the first quarter of 2019, in... Continue Reading →
Exxon Aims to Boost Production Even With Any Climate Rules
Exxon's CEO says the company can more than double its earnings by 2025 and will invest in new oil and gas production even if policymakers adopt rules to combat climate change. Darren Woods told shareholders Wednesday that technology like biofuels will allow the company to produce energy with lower carbon emissions. Read more
Brazil oil worker strike gains steam in another blow to government
A 72-hour strike by Brazilian oil workers halted refineries and rigs on Wednesday, union leaders said, a new blow to President Michel Temer on the heels of a trucker protest that has strangled Latin America’s largest economy for over a week. The strike by workers demanding changes at state-led oil firm Petroleo Brasileiro SA is... Continue Reading →
Brazil president’s office says will preserve Petrobras’ pricing policy
(Reuters) - The office of Brazilian President Michel Temer said in a written statement on Wednesday that it was committed to the financial health of Petroleo Brasileiro SA and it would continue to preserve the state-led oil firm’s fuel pricing policies. A government source told Reuters that Temer may scrap a market-based pricing mechanism that... Continue Reading →
Production at Polvo is expected to increase 35% with the completion of the first revitalization well
05/30/18 PetroRio started production of the first well of the Polvo field's revitalization campaign, called POL-H. The forecast is that, with stabilized production, the well will produce approximately 2,600 barrels / day, representing a 35% increase in total Polvo production in the first month. The drilling began in April and is part of the revitalization... Continue Reading →
Oceaneering on the front in bidding for Drill Pipe Risers
05/30/18 Oceaneering submitted the lowest price at the Petrobras bid to contract drill pipe risers (DPR) to post-salt fields. The company's offer was approximately R$ 215 million, surpassing Schlumberger's R $ 228 million bid, which came in second place. Expro do Brasil (R $ 231 million), Weatherford (R $ 425 million) and Aker Solutions (R... Continue Reading →
Brazil has window of opportunity before peak demand for oil
IBP president José Firmo said in an event held last Friday that the country's oil and gas industry should take advantage of the "window of opportunity" that will exist in the coming years to convert the oil reserves pre-salt in wealth for society. The "window" in question refers to the time the industry will have... Continue Reading →
Brazil Energy Insight 