Rio de Janeiro, April 10, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that Moody's agency has raised the company's corporate debt rating from Ba3 to Ba2, keeping the outlook stable. Moody's highlighted in its report, released yesterday, that the review of Petrobras’ rating reflects the improvement of the perspective of the sovereign rating of... Continue Reading →
McDermott wraps up Atlanta field work scope ahead of first oil
U.S. engineering company McDermott has completed the first phase of the deep-water Atlanta Early Production System (EPS), located offshore Brazil, for Queiroz Galvão Exploração e Produção S.A. (QGEP). The field is located approximately 115 miles (185 kilometers) offshore southeast of Rio de Janeiro. As reported by Offshore Energy Today at the end of March, QGEP expects... Continue Reading →
The overwhelming return of ExxonMobil to Brazil
ExxonMobil has been operating in Brazil since the opening of the sector in 1997, until 2016. During that period, the company acquired only four exploration blocks and returned two of them (one in the Potiguar Basin and another in Santos). From then on, however, the major's participation in ANP auctions has been overwhelming, resulting in... Continue Reading →
Vallourec wants more local content
Owner of two factories and service units in Brazil, Vallourec is investing in the local production chain to increase the national content of its goods and services for the oil and gas industry. Recently, the French pipe and fitting manufacturer for exploration and production projects has partnered with Cladtek to produce clad pipes in... Continue Reading →
Petrobras requests Installation License for Tartaruga Verde FPSO
Petrobras filed at IBAMA on March 21 the application for the installation license of the FPSO Cidade de Campos dos Goytacazes, which will produce in Tartaruga Verde, in the Campos Basin. The environmental agency has issued the installation license for the launch of the anchors and for the other actions necessary for the anchoring of... Continue Reading →
DOF on a winning streak
Subsidiaries of Norwegian shipping company DOF have been awarded vessel contracts by Nexen and Petrobras. DOF ASA said on Tuesday that its subsidiary, DOF UK Limited, won an 18-month contract from oil company Nexen for the Skandi Barra platform supplier. The contract is scheduled to start in April. Read more
Statoil licenses five more wells in pre-salt
April 9, 2018 Statoil, which recently announced its name change to Equinor, began the environmental licensing of five more wells in the pre-salt area of Norte de Carcará, a project of share production from the 2nd pre-salt auction held in October last year and included unitized areas. The company is also licensing a short-term training... Continue Reading →
Brazil’s Lula spends first night in jail amid fight for freedom
Brazil’s former president Luiz Inacio Lula da Silva spent his first night in jail on a corruption conviction on Sunday as his allies hoped future protests and court decisions would free him. The imprisonment of Lula, Brazil’s first working-class president, throws the October presidential election wide open as he leads the race in opinion polls.... Continue Reading →
Brazil names pro-privatization Moreira as new mines and energy minister
Brazil’s President Michel Temer named Wellington Moreira Franco to take over the Mines and Energy Ministry, a key portfolio that includes overseeing the proposed privatization of Centrais Eletricas Brasileiras SA (Eletrobras). Read more
Exxon Sparks IMF Concern With Weighty Returns in Tiny Guyana
Exxon Mobil Corp. got such a “favorable” deal from Guyana, home to the biggest new deepwater oil play, that the tiny South American country should rewrite its tax laws, the International Monetary Fund said. While Guyana should honor the existing deal, future contracts should ensure the state gets a higher portion of crude proceeds, the fund said in... Continue Reading →
Brazil Energy Insight 