ExxonMobil has officially confirmed making the Pecora-1 oil discovery in the Starbroek block, offshore Guyana, and it already has plans on how it wants to develop the latest find. To remind, Guyanese authorities issued a brief report of the discovery earlier today without providing much detail on the size of it. In a subsequent announcement... Continue Reading →
Petrobras one step closer to sale of two shallow water fields
Brazilian oil company Petrobras is making headway with plans to sell its entire interest in two shallow water fields located in the Campos Basin off the coast of Rio de Janeiro as part of a wider divestment program. Petrobras revealed its intention to divest its interests in seven sets of shallow-water fields (total of 30... Continue Reading →
Total enters the Brazilian marine lubricants market
2/28/18 To grow up to 20% in 2018, Total - the fourth largest oil and gas company in the world - begins to compete in the market for marine lubricants in Brazil. With a range of premium products focused on fleets of local and international vessels and power plants, Total Lubmarine will initially service more... Continue Reading →
Which Companies Have Changed Brands Because of the Car Wash Scandal
Odebrecht Oil and Gas is now called Ocyan. The strategy is a measure to try to disassociate the company's image from the Car Wash investigations. The Odebrecht Group is undoubtedly the one whose brand was most affected by the corruption scandals reported by the operation. Its former president, Marcelo Odebrecht, was imprisoned for two... Continue Reading →
Petrobras Divestment Opportunities in Shallow Water Fields: Start of the binding phase for Enchova and Pampo Clusters
Rio de Janeiro, February 27, 2018 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on July 28, 2017 and press release disclosed on October 4, 2017, informs the start of the binding phase regarding the assignment of all of its exploration, development and production rights in Enchova and Pampo Clusters, located... Continue Reading →
Fitch Ratings reviews Petrobras’ risk rating
Rio de Janeiro, February 27, 2018 - Petróleo Brasileiro SA - Petrobras informs that Fitch Ratings reviewed the company's corporate debt rating from BB, with a negative outlook, to BB-, with a stable outlook. This revision is due to the downgrading of the sovereign risk level, announced by the agency on 02/23/2018.
Fitch cuts Brazil rating, cites failure to vote on pension reform
Fitch Ratings cut Brazil’s credit rating further into junk territory on Friday, saying the country’s failure to put a social security overhaul to a vote undermines public finances. The cut to BB-minus from BB, with a stable outlook, mirrors rival rating agency S&P’s downgrade in January. Read more
Exxon finds more oil offshore Guyana
U.S. oil major ExxonMobil has made another oil discovery in the Stabroek block, offshore Guyana. News of the discovery at the Pecora-1 well using the Stena Carron drillship was confirmed both by the country’s Minister of Natural Resources Raphael Trotman, and by Exxon, albeit via a social media post. Read more
ONGC Videsh and GeoPark Announce Strategic Latin American Acquisition Partnership
ONGC Videsh, the wholly-owned subsidiary and international arm of Oil and Natural Gas Corporation Limited (ONGC), India’s national oil company, and GeoPark, the Latin American oil and gas explorer, operator and consolidator, are pleased to announce the formation of a new long-term strategic partnership to jointly acquire, invest in, and create value from upstream oil... Continue Reading →
New command in Petrobras Subsea and Reservoir Management
February 27, 2018 The engineer Felipe Matoso is the new executive manager of Subsea Systems of Petrobras. Matoso, who was the general manager of Subsea Engineering, temporarily replaced Cristina Pinho, who recently retired. Petrobras also officially appointed Antônio Carlos Capeleiro Pinto as the first executive manager of the company's newly created Reservoir Management,... Continue Reading →
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