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Borr raises $350 million in a matter of minutes as it takes a new bite out of the distressed asset fleet. Whatever you think of Borr’s latest jackup deal with Keppel FELS, the fact is that they’re eating up the market while everyone else watches. Yesterday, Borr announced the acquisition of five more premium newbuild jackups... Continue Reading →
French energy and gas group Engie said it is negotiating with Petrobras to buy the gas pipeline network of the oil company, the Transportadora Associada de Gas (TAG). Confirming a Reuters report, Engie Chief Executive Isabelle Kocher told analysts that the company - which has large investments in Brazil's electric power sector - wants... Continue Reading →
Açu Petroleo wants to make its terminal (T-Oil) in Açu Port (RJ) the main option for exporting oil to private oil companies in Brazil, says company president Victor Snabaitis Bomfim. The executive bet on the capacity to receive larger ships as a differential of the project, which carried out its first transhipment operation with a... Continue Reading →
05/16/18 Petrobras postponed the deadline for submitting bid proposals to contract integrated logistics services for Libra, in the pre-salt of the Santos Basin. This is the second postponement of the bid, previous date was the 14th of May. In a circular sent to competitors, the oil company said that it needed more time to respond... Continue Reading →
FPSO operator BW Offshore has contracted liquid handling and pump specialist PG Flow Solutions to supply water booster pumps for the Polvo FPSO life extension project in Brazil. PG Flow said on Wednesday that the scope of work was the engineering, procurement, assembly of pump skid, and commissioning of two produced water booster pumps in... Continue Reading →
Venezuela and Mexico are still coping with the fallout from the downturn while Brazil is set to start adding barrels again No region was hit quite as hard by the downturn as Latin America. Oil production across the region has fallen 20%, from 9.6m barrels a day as the crisis took hold in 2015, to... Continue Reading →
Venezuela’s state-run oil firm PDVSA has bought nearly $440 million worth of foreign crude and shipped it directly to Cuba on friendly credit terms - and often at a loss, according to internal company documents reviewed by Reuters. The shipments are the first documented instances of the OPEC nation buying crude to supply regional allies... Continue Reading →
Rio de Janeiro, May15, 2018 – Petróleo Brasileiro S.A. – Petrobras, in relation to the news published today in the press about the revision process of the Transfer of Rights Agreement, clarifies that discussions are ongoing between Petrobras’ internal committee, responsible for negotiating the Revision of the Transfer of Rights Agreement, and the Interministerial Commission,... Continue Reading →
The new Act (13,303/16) provides on the legal status of state-owned companies, mixed-capital companies and their subsidiaries, within the scope of the Union, the States, the Federal District, and the Municipalities. Sanctioned on June 30, 2016, the Act represents a regulatory framework for these companies’ performance and sets procedures and responsibilities for this. As a... Continue Reading →
The National Energy Policy Council (CNPE) set the amount of the signing bonus to be paid to the Union by the winners of the 5th round of pre-salt blocks bidding at R $ 6.82 billion. The auction is scheduled for September 28 and will offer four areas. The signature bonus is paid for the... Continue Reading →
Brazil Energy Insight 