Nearly 20 jackups left the offshore rig fleet during the first quarter of the year. A lot more are coming as rig owners throw in the towel for their old assets. As we’ve mentioned before, nobody likes scrapping jackups. They’re cheap to stack, risky and expensive to move, and generally have lower steel value than... Continue Reading →

Underpinned by higher oil prices, Singapore’s Keppel Corporation is seeing increasing confidence in offshore and marine business despite its own Offshore & Marine (O&M) division recording a loss and lower revenues in 1Q 2018. According to financial statements for 1Q 2018 by Keppel Corporation on Thursday, the Offshore & Marine (O&M) division incurred a net loss... Continue Reading →

  April 19, 2018 Petrobras has received from Ibama an operating license authorizing the start of production of FPSO P-74, the first unit to produced with a definitive system in areas known as Transfer of Rights, in the Santos Basin pre-salt. The environmental license, signed by the president of IBAMA, Suely Araújo, is valid until... Continue Reading →

  It is not every day that a company, even of the size of Petrobras, closes a contract of almost R $ 2 billion, as was the case of the construction of the Comperj Gas Unit. Proof of this is that of the company's nearly 36,000 active contracts, 101 are worth more than the deal... Continue Reading →

  Petroserv's semi-submersible Catarina contracted by Shell for 60 days to carry out an intervention campaign in the Campos Basin will arrive in Brazil next week. The unit is expected in Brazilian waters possibly between April 22/23 and work is expected to begin in May. The contract may be extended for up to 21 days.... Continue Reading →

Pedro Parente, lauded for turning around Brazil’s state-oil giant Petrobras SA, agreed to become chairman of struggling food conglomerate BRF SA, a breakthrough that may end several weeks of fighting among shareholders over who will sit on its board. If his name is approved at an April 26 meeting of shareholders, Parente will resign from the board... Continue Reading →

The public prosecutor’s office in the northern state of Amapá recommended on Wednesday that Brazil’s environmental regulator Ibama deny French major Total a license to drill for oil near the mouth of the Amazon. The office said in a statement the company’s environmental impact study was insufficient and warned that drilling in the area could... Continue Reading →

Rio de Janeiro, April 19, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that, in order to support its final proposal regarding partnerships in the refining segment, today, it will hold a seminar with the participation of the Ministry of Mines and Energy (MME), the National Petroleum Agency (ANP), the Brazilian Institute of Petroleum, Natural... Continue Reading →

  Rio de Janeiro, April 18, 2018 - Petróleo Brasileiro SA - Petrobras, regarding unofficial information about the appointment of Mr. Pedro Parente to the chairmanship of another public company's board of directors, clarifies that there will be no change in the exercise of his function as President of this company. Mr. Pedro Parente is... Continue Reading →