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 →
Seadrill’s reorganization plan gets full support from creditors
John Fredriksen’s offshore drilling company Seadrill has obtained full support from its creditors and shareholders for the reorganization plan aimed at reducing the driller’s massive debt. Seadrill Limited and its 85 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code on September 12, 2017. Read more
Petrobras Divestments in Shallow-Water Fields: Start of the binding phase for Pargo, Sergipe and Merluza Clusters
Rio de Janeiro, April 06, 2018 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 07/28/2017 and press release disclosed on 10/04/2017, informs the start of the binding phase regarding the full sale of its exploration, development and production rights in three sets of shallow-water fields: Pargo, Sergipe and Merluza... Continue Reading →
Petrobras opts for Vallourec’s tubular solutions on pre-salt assets
Tubular solutions provider Vallourec has signed new contracts for the supply of products and services to the Brazilian national oil company Petrobras. In the framework of these long-term agreements, Vallourec will supply Petrobras’ operations with OCTG products and associated accessories, the company said on Thursday. Read more
DOF units score Brazilian gig
Two DOF ASA subsidiaries have been awarded contracts for the Skandi Commander vessel and one ROV. DOF said on Friday that the deal for the Skandi Commander, awarded to DOF Subsea Brazil and Norskan Offshore, had a duration of 150 days. According to the company, the work under the contract will start in April 2018.... Continue Reading →
After Targeting U.S. Farmers, China Signals It Can Strike Shale
China’s tariffs in one corner of the energy market signal U.S. shale fields may follow the nation’s farms as a target if a trade war escalates. Beijing on Wednesday took aim at America’s rural heartland by proposing levies on politically sensitive farm commodities such as soybeans, which were among 106 U.S. products targeted. The list also included petrochemicals and... Continue Reading →
Brazil judge orders ex-president Lula jailed by Friday
A Brazilian judge on Thursday ordered former President Luiz Inacio Lula da Silva to turn himself in to police within 24 hours to serve a 12-year sentence for a bribery conviction, likely ending the presidential front runner’s hopes of returning to power. Read more
Brazil Energy Insight 