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 →
Brazil top court ruling could free Lula, derail graft fight
A decision looming before Brazil’s Supreme Court could free imprisoned former President Luiz Inacio Lula da Silva within days and deal the harshest blow yet to the South American country’s battle against corruption, prosecutors and judges say. Read more
Mideast Strife Sends Oil Bets to New High
Hedge funds have never been so invested in the global oil rebound. Their bets that Brent crude futures will climb reached a new high as growing tensions across the Middle East are putting almost half of the world’s supply at risk. The escalation of strife in the region sent the key crude benchmark to its... Continue Reading →
Rig Count Rises in U.S. as OPEC Approaches Goal to Bust Oil Glut
Explorers pushed the U.S. rig count higher for another week just as OPEC nears “mission accomplished” for wiping out the global glut of oil. U.S. working oil rigs rose by seven this week to 815, the highest since March 2015, according to data from Baker Hughes. The rig fleet has expanded in 10 of... Continue Reading →
Brazil retail magnate Rocha defies left in presidential race
Angry leftist protests outside his businesses will not deter billionaire Flavio Rocha from running in Brazil’s presidential election this year, advocating a crackdown on crime, a much smaller state and conservative family values. Read more
Coral threatens renewal of the Campos Basin
The Campos Basin, the old lady from where the oil production began in Brazil in the 70's, will undergo a renovation phase that will require new investments in equipment and platforms. According to data from the National Petroleum Agency (ANP), 22 platforms installed in Campos already have more than 25 years of operation and... Continue Reading →
Petrobras signs a guaranteed financing agreement with Credit Agricole and UK export credit agency
Rio de Janeiro, April 13, 2018 - Petrobras informs that yesterday it signed, through its wholly owned subsidiary Petrobras Global Trading B.V. - PGT, a finance agreement of up to US$ 400 million with Credit Agricole Corporate and Investment Bank (CACIB) with a guarantee from the UK Export Finance (UKEF). The maturity is 2029 and... Continue Reading →
ION in digitization push with new version of Marlin software
Geoscience company ION has launched an enterprise version of its Marlin software in order to optimize offshore operations and further advance maritime digitization. Marlin is a digital solution that integrates and share information in real time to enhance decision making. Read more
Siemens contracted to supply Modec’s FPSO Carioca.
April 12, 2018 Siemens announced on Thursday that it has entered into a contract with Modec to supply four packages of offshore gas turbines to FPSO Carioca, which will be installed in the Sepia field, Santos Basin. The delivery of the equipment is planned for the end of 2018. Siemens will also provide specialized... Continue Reading →
Shell’s Oil Isn’t Stranded Today, But Tomorrow Matters More
Royal Dutch Shell Plc released a report on Thursday designed to address such concerns. The company estimates that 80 percent of its proved oil and gas reserves will be produced by the end of 2030. Given that's only 12 years away, the thinking goes, the bulk of the value in Shell's upstream business looks pretty safe even... Continue Reading →
