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Brazilian company Wilson Sons Ultratug Offshore has awarded Norway’s PG Flow Solutions a contract to supply equipment for recovered oil services for an offshore support vessel (OSV) returning to market after lay-up. Read more
Brent oil price rose to $71 a barrel early on Thursday, a level not seen since late 2014. According to Reuters, the prices were boosted by the weak dollar and falling crude oil inventories in the United States. Read more
Mexico is trying to lure as much oil investment as possible before the president who overhauled the country’s energy industry leaves. By the end of the summer, the country that until recently had a state monopoly on crude will have offered more than 100 permits to oil majors like Exxon Mobil Corp. in three auctions this year.... Continue Reading →
After more than three years of belt-tightening, a resurgence in crude prices has fueled oil-company optimism, and a readiness to reopen the checkbook. More than two-thirds of 813 senior oil executives expect increased capital spending in 2018, double last year’s percentage, according to a survey by Norwegian consultants DNV GL. About a third say research and... Continue Reading →
A Brazilian appeals court upheld the corruption conviction of former President Luiz Inacio Lula da Silva on Wednesday, a major blow to the plans of the country’s most influential politician to run for the presidency again this year. Read more
Oilfield services provider Baker Hughes, a GE company, has recorded a loss for the fourth quarter of 2017, the company said on Wednesday in its second quarterly report following a merger with GE’s oil and gas unit. Baker Hughes’ orders of $5.8 billion for the fourth quarter 2017 were up 1% sequentially and down 2% year-over-year on... Continue Reading →
The man responsible for Petrobras’ recovery from scandal and rout could consider staying in the job after presidential elections, as long as the state-controlled producer keeps its independence under the next government. Pedro Parente has won praise for trimming the biggest debt load in the oil industry even amid the price rout, settling a class... Continue Reading →
BP Plc, the oil major that sold a third of its assets after a disastrous rig accident in 2010, said it won’t be left behind as the industry boosts investment in new energy. “We haven’t made really big bets but we’re scanning and screening everything” to assess renewables opportunities, Chief Executive Officer Bob Dudley said... Continue Reading →
The world’s largest energy companies plan to significantly widen a two-year effort to standardize the kit they use to pump oil and gas, hoping they can deliver significant cost savings, said people familiar with the matter. The discussions, scheduled on Wednesday for a closed-door meeting at the World Economic Forum in Davos, are the latest... Continue Reading →
ANP Executive Director, Decio Oddone and director Dirceu Amorelli will hold a series of meetings in Calgary (Canada) and New York (USA) this week (22-26/1) to announce the bidding rounds scheduled for this year and the permanent offer areas. In Calgary, meetings are planned with industry players and a presentation to members of the Canadian... Continue Reading →
Brazil Energy Insight 