Petrobras has launched a market inquiry to verify the availability of a drilling rig for 3,900 m of water depth. The RFI (request for information) was released earlier in the year, without the oil company indicating the deadline for delivery, charter time or destination lease of the unit, and was due for delivery by February... Continue Reading →
Majors registered for the 15th Round
Some of the biggest majors present in Brazil have signed up to bid for offshore areas in the 15th Round. BP, Chevron, Exxon, Repsol, Shell and Total are already qualified for the auction, as well as Petrobras. The ANP released a list with the approval of 13 of the 17 companies that have registered to... Continue Reading →
Petrobras announces redemption prices for three series of notes
RIO DE JANEIRO, BRAZIL – February 22, 2018 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices to holders in connection with its redemption of the outstanding 3.000% Global Notes due 2019 (“3.000% Notes”), 3.25% Global Notes due 2019 (“3.25% Notes”) and... Continue Reading →
Brazil to decide in first half on Total’s Amazon river basin drilling
Brazil environmental agency Ibama will decide on French oil firm Total’s application to drill in the environmentally sensitive Amazon river basin before the end of May, and possibly as soon as the end of March, an agency official told Reuters on Wednesday. Ibama last August ordered Total to provide information missing from its application for... Continue Reading →
How General Electric gambled on fossil fuel power, and lost
Last March, executives at General Electric Co’s power-plant business gave Wall Street a surprisingly bullish forecast for the year. Despite flat demand for new natural gas power plants, they said, GE Power’s revenue and profit would rise. But GE’s forecast turned out to be a mirage. Rather than rising, GE Power’s profit fell 45 percent... Continue Reading →
Baker Hughes surges as GE says it’s keeping stake through pact
HOUSTON (Bloomberg) -- Baker Hughes has cleared one obstacle on its recovery path. General Electric Co. told investors Wednesday it has no plans to alter its majority ownership stake in the world’s third-biggest oilfield services and equipment provider prior to the end of their two-year lockup period in 2019. The announcement by Jamie Miller, CFO... Continue Reading →
CCI CableService picks up electrical cables supply deal for Liza FPSO
CCI-CableService Italy, a marine and offshore electrical cable manufacturer, has been awarded an electrical cables supply deal by SBM Offshore for ExxonMobil’s FPSO Liza Destiny. The FPSO is being constructed by Keppel Shipyards in Singapore. It is being converted from a very large crude carrier (VLCC). SBM Offshore will lease the FPSO Liza Destiny to... Continue Reading →
TechnipFMC’s 4Q loss deepens
Oilfield services provider TechnipFMC saw its revenue for the fourth quarter 2017 fall to $3,6 billion, a 15.9 percent compared to $4,38 billion in the fourth quarter of 2016. Net loss for the quarter deepened to $153,9 million, versus $100,6 million a year ago. Adjusted EBITDA, which excludes charges and credits, was $573.1 million, an increase... Continue Reading →
Ocean Rig CEO: Rig inquiries rising, but worst not over
Oil companies have recently posted positive quarterly results, the oil prices have risen from the 2016 lows of below $30 a barrel, however, the worst might not be over for some offshore drillers. This is according to Pankaj Khanna, the recently appointed CEO of Ocean Rig, an offshore drilling company. Read more
Guyana: Orinduik block may hold more than 1 billion BOE
Tullow Oil and partner Eco Atlantic have identified leads on the Orinduik block offshore Guyana with the potential to contain more than one billion barrels of oil equivalent. Tullow is the operator of the block with a 60% interest and Eco Atlantic Oil & Gas is its partner with the remaining 40% interest. Read more
Brazil Energy Insight 