Aldemir Bendine, the former chief executive of state-controlled oil firm Petroleo Brasileiro SA and Banco do Brasil, was found guilty on Wednesday of corruption charges and sentenced by a federal judge to 11 years in prison. Read more
BRASCO SIGNS CONTRACT WITH TOTAL TO PROVIDE SUPPORT IN THE LAPA FIELD
Brasco, of the Wilson Sons Group, has signed a contract with Total E & P do Brasil and will provide logistical support to the production activity in the Lapa field, operated by the French company. "This agreement is another important milestone in our successful relationship with Total, with whom we have been working since 2013,... Continue Reading →
New equipment for well-capping launched in Italy/Saipem
Oil Spill Response Limited (OSRL) has launched the Offset Installation Equipment (OIE) well-capping system, designed and manufactured by Saipem. Saipem said on Tuesday that OIE was designed for use during a subsea well incident where direct vertical access to a wellhead is not viable. Read more
ExxonMobil maps out aggressive growth plan to double earnings by 2025
U.S. oil major ExxonMobil has outlined an aggressive growth strategy to more than double earnings and cash flow from operations by 2025 at today’s oil prices. “We’ve got the best portfolio of high-quality, high-return investment opportunities that we’ve seen in two decades,” Darren W. Woods, chairman and chief executive officer, said at the company’s annual... Continue Reading →
A Peruvian Bill Is Threatening to Topple a $1.4 Billion Power Deal
Odebrecht SA agreed in August to sell the Chaglla hydroelectric project to China Three Gorges Corp. The deal was supposed to close by Feb. 23 but has been on hold for months as the government decides how much of the proceeds to keep as a penalty and how much will go to Odebrecht, the Brazilian builder that’s embroiled in... Continue Reading →
P-33 will be decommissioned in 2018. Marlim’s schedule updated
March 7, 2018 The P-33 FPSO completes, in December, 20 years of production in the field of Marlim Petrobras has updated the timeline for the Marlim field revitalization project in the Campos Basin and is anticipating the decommissioning of the FPSO P-33. The facility, which has the capacity to produce 50,000 barrels per day of... Continue Reading →
CGX Energy takes on operations manager for Corentyne project (Guyana)
Canadian oil and gas exploration company CGX Energy has appointed a project operations manager for an exploration well on the Corentyne block offshore Guyana. CGX said that drilling engineer Michael P. Stockinger was appointed to the position of project operations manager on the Corentyne block exploration well. Read more
Top Brazil appeals court denies Lula bid to stay out of prison
Brazil’s top appeals court on Tuesday denied a request by former President Luiz Inacio Lula da Silva that he not be sent to prison on a corruption conviction before he has exhausted his appeals. Read more
Chevron sticking to disciplined approach to spending
Oil major Chevron Corporation plans to maintain its discipline in spending during 2018 with a budget of $18 billion for the year. Chevron on Tuesday, March 6 hosted its annual security analyst meeting in New York, where executives highlighted the company’s plans to excel in any market environment. Read more
Total CEO Says He Doesn’t Need Permian Basin Shale to Thrive
Total SA’s chief executive officer may be one of the few major oil heads who isn’t salivating over the booming Permian Basin shale oil field. “Total today is the most profitable major company without any shale,” Patrick Pouyanne said in an interview Monday on Bloomberg Television. Instead, Pouyanne said his company is focused on five... Continue Reading →
Brazil Energy Insight 