U.S.-based Oceaneering has acquired Scotland’s Ecosse Subsea, a provider of offshore engineering, seabed preparation, route clearance and trenching services to the renewable energy and oil and gas industries, for approximately 50 million pounds sterling (about $70 million). Headquartered in Aberdeen, Scotland, Ecosse builds and operates seabed preparation, route clearance and trenching tools for submarine cables... Continue Reading →

   Maersk on Friday won a key approval to sell its energy unit to Total S.A., with the Danish Energy Agency giving the green light to the $8 billion deal. But the authority made it a condition that Maersk pay for the eventual decommissioning of North Sea infrastructure (such as platforms and pipes), if Total... Continue Reading →

“The U.S. is set to put its stamp on global oil markets for the next five years,” IEA Executive Director Fatih Birol said in a report published Monday. OPEC’s surging rivals, which also include Brazil and Canada, will leave little space for the cartel to expand even after its production curbs expire this year. Read... Continue Reading →

Climate change is critical to future energy markets but its effect on Chevron Corp.’s oil and gas business will be minimal for decades to come, the company said in a report Thursday. With the prospect of tighter emission controls, carbon pricing and growth in renewable energy, some investors and activists are pushing companies to reveal the... Continue Reading →

  The Special Bidding Commission (CEL) analyzed the first requests from companies that applied for registration in the 15th Round of Bidding. A total of 14 companies had applications for registration judged and approved by CEL. Of these companies, 12 are of foreign origin and there are big names in the industry. Of the 14... Continue Reading →

For Karine Fragoso, Repetro is a fundamental agenda for the expansion and development of the oil markets 2/28/18 4:39 PM Representatives of companies in the oil and gas market defended, in an event held at FIRJAN, the importance of the new Repetro to ensure a more competitive environment for its productive chain. The event discussed... Continue Reading →

Rio de Janeiro, March 1, 2018 - Petróleo Brasileiro S.A. - Petrobras, in compliance with CVM Instruction no. 358/2002 and further to the press release disclosed on 9/21/2017, reports that its Board of Directors approved in a meeting held yesterday the key terms for a possible settlement, in the context of the extrajudicial mediation procedure... Continue Reading →

Rio de Janeiro, March 1, 2018 - Petróleo Brasileiro S.A. - Petrobras announces that the U.S. District Court for the Southern District of New York (“SDNY”) granted preliminary approval yesterday to its agreement to settle the securities class action lawsuit filed in the United States. The Court’s ruling is another important step towards resolving the... Continue Reading →

Brazil’s economic recovery was weaker than expected in the fourth quarter due to fluctuations in agricultural exports, data showed on Thursday, indicating a gradual but more widely dispersed recovery in Latin America’s largest economy. Read more

SAO PAULO, March 1 (Reuters) - Brazilian state oil company Petroleo Brasileiro SA will continue to lease four rigs from Sete Brasil Participações SA and will terminate 28 other rig lease contracts, possibly settling a long-running legal dispute, it said on Thursday. Petrobras, as the company is known, said in a securities filing the rig... Continue Reading →