Petrobras shares fell as much as 9 percent on Monday after Brazil’s government offered new fuel subsidies and changed the oil producer’s pricing policy in a bid to settle a truckers’ strike that has shuttered factories and caused food and fuel shortages. Read more

Rio de Janeiro, May 28, 2018 - Petróleo Brasileiro SA - Petrobras informs that the federal government announced yesterday a reduction in the price of diesel oil of R$ 0.46 per liter, which will be achieved by reducing taxes and the subsidy to be paid by the Union. As announced, the initial reduction will be... Continue Reading →

Rio de Janeiro, May 25, 2018 – Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the press, informs that President Pedro Parente denies any intention to resign and remains in the position as CEO of the company. On the news over the weekend: Sindipetro, the labor union representing a large percentage... Continue Reading →

05/25/18 Shell is analyzing offers for chartering a maintenance and safety unit (MSU) to support its offshore operations in Brazil. The scope of the tender foresees that the unit have DP2 dynamic positioning system, gangway with movement compensation and capacity for at least 70 people, in addition to the crew. Scheduled to start in mid-July,... Continue Reading →

  The need for consolidation among offshore rig owners is just as dire as it’s ever been. Now that everyone loves offshore drilling again, many rig owners seem to think they’re strong enough on their own. Consolidation. A lot of hype, not much execution. While the rig market struggled, everybody talked about it, but very... Continue Reading →

Brazil’s government struck a deal with truck drivers on Thursday to suspend a four-day protest that crippled swathes of the Latin America’s largest economy, promising changes to diesel pricing that could leave it footing a 5 billion reais ($1.37 billion) bill this year. The accord could leave the government with a bill of up to... Continue Reading →

RIO DE JANEIRO (Reuters) - The government has proposed to Brazilian state-led oil firm Petroleo Brasileiro SA that the Treasury compensate it for up to 1 billion reais ($274.04 million) in losses if it maintains a 10-percent reduction in diesel prices for 60 days, a source with direct knowledge of the matter said on Friday.... Continue Reading →