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A name, which before the Lava Jato operation was synonymous with a successful brand in Brazil, will now be in the past. Odebrecht Oil and Gas (OOG) announced today its new brand and name: Ocyan. According to the company, the change is part of its renewal cycle, with the completion of the financial restructuring. At the... Continue Reading →
01/15/2018 Rio de Janeiro, January 15, 2018 - Petrobras and Total announce today that they have finalized a decisive milestone in the realization of their Strategic Alliance, signed in March 2017, with the completion of the following transactions: - Transfer from Petrobras to Total of 35% of the rights, as well as the operatorship, of... Continue Reading →
Economic activity in Brazil expanded for a third straight month in November, the longest stretch of gains since 2014, suggesting strong momentum at the end of the year. Read more
McDermott’s North Ocean 102 offshore vessel is in Porto do Açu, Brazil, ready to start work on QGEP’s Atlanta field. This is according to McDermott which on Friday shared the photo of the vessel saying in the captions the vessel was ready for the Atlanta field early production systems (EPS) loadout. To remind, the company,... Continue Reading →
U.S. oil company Murphy Oil has reportedly hired a drillship from the Swiss-based offshore driller Transocean. According to information provided by VesselsValue, a website providing intel on offshore and shipping world, Murphy Oil hired the Deepwater Asgard drillship on a six-month fixed term charter deal. Read more
Petrobras has completed the previously announced sale of shares in several Brazilian fields to France’s Total for $1.95 billion. The deal was announced as part of the two companies’ Strategic Alliance, signed in March 2017. As part of the deal, Petrobras has now transferred to Total 35 percent of the rights, as well as the operatorship,... Continue Reading →
01/12/2018 Rio de Janeiro, January 12, 2018 - Petróleo Brasileiro SA - Petrobras informs that S&P Global Ratings affirmed the company's corporate debt ratings at BB-, with a stable outlook, after downgrading Brazil’s sovereign risk level from BB (negative outlook) to BB- (stable outlook). S&P considers that the company's risk level is correlated with the... Continue Reading →
January 12, 2018 The resumption of FPSO contracts and the signing of contracts for the unitized areas of the 2nd pre-salt auction, due to take place on January 31 at the Presidential Palace, can hike the demand for subsea equipment on the street. After almost three years, Petrobras re-contracted FPSOs and closed the contract... Continue Reading →
January 12, 2018 IBAMA issued in one day five environmental licenses for exploration and production of offshore oil and gas in Brazil. An Early Production System was released, four platforms were approved and a drilling campaign of up to seven wells with a training test. Ibama has authorized the installation of three of the... Continue Reading →
Ratings agency Standard & Poor’s cut Brazil’s credit rating further below investment grade on Thursday as doubts grew about a presidential election in October and a push to trim its costly pension system, seen as vital to closing a huge fiscal deficit. Read more
Brazil Energy Insight 