France’s oil major is stepping up its power business, replicating the strategy of European peers as the global shift toward cleaner energy gathers pace.  Total SA agreed to buy Paris-based utility Direct Energie, adding 2.6 million electricity and gas customers in France and Belgium. The deal puts Total in a stronger position to lure households away from... Continue Reading →

As the clock ticks on McDermott and CB&I merger, another firm has decided to weigh in on the proposed plan, claiming that the industrial logic of the deal is solid. The two companies have already received all necessary regulatory approvals for the merger which was proposed last December and the merger is on track to close in... Continue Reading →

  Deep Sea Supply Shipowning 1 AS, a subsidiary of Solstad Farstad, delivered three ships to the Brazilian Navy. The three AHTS, built in 2011, are Sea Fox, Sea Vixen and Sea Stoat with 6,800 BHP and were purchased for $ 82.8 million. Solstad Farstad, Deep Sea Supply Shipowning AS, also sold the AHTS Sea... Continue Reading →

  The ANP has extended contracts for eleven blocks of the 12th Round and five of the Eleventh Round for two years in the Recôncavo, Parnaíba and Sergipe-Alagoas basins. The areas are operated by Petrobras (REC-T-52, REC-T-80, REC-T-50, REC-T-51, REC-T-60, REC-T-32, REC-T-61, GALP (PN-T-182 and PN-T-136) and Geopark (REC-T-40, SEAL-T-420, PN-T-150 and PN-T-166) -94 and... Continue Reading →

Reorganization plan of offshore driller Seadrill has been confirmed by the U.S. Bankruptcy Court for the Southern District of Texas. The confirmation of the reorganization plan by the court comes on the back of support by Seadrill’s creditors and shareholders obtained earlier this month. Read more

Houston-based offshore drilling contractor Diamond Offshore Drilling has launched its Sim-Stack service. According to Diamond, this is the offshore drilling industry’s first cybernetic BOP service enabling the company to continuously and accurately assess BOP status. When issues arise, the Sim-Stack service immediately determines a proper course of action while providing a third party statement of fact to... Continue Reading →

Monday, 16 April 2018 17:47 Benefited from the new wave of orders from Petrobras, GE won its largest short-term contract in Latin America of US $ 300 million (equivalent to R $ 1.028 billion). The Brazilian unit of the American conglomerate will supply 41 gas turbines, three steam and thirteen generators, as well as services,... Continue Reading →

Five years after a landmark overhaul of energy laws stripped Mexico’s state oil-and-gas producer of its monopoly, few investors are eager for it to be restored. So pledges by front-running presidential candidate Andres Manuel Lopez Obrador to turn back the clock are causing jitters among bondholders. The spread on Pemex’s $3 billion bond due in... Continue Reading →

Petrobras has again postponed the tender submission deadline for chartering the Búzios V FPSO, a production unit scheduled to start operating in 2021. With the change in schedule, the new deadline was rescheduled for April 30. The postponement marks the seventh change in the bidding date. The last deadline had been set for this April... Continue Reading →