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Offshore driller Rowan Companies has bought two jack-up drilling rigs from Petrobras for a total of $77 million. Rowan has concluded the purchase of two LeTourneau Super 116E jack-up rigs, the P-59 and P-60, which were both delivered new into service in 2013, in a public auction from a subsidiary of Petrobras for $38.5 million per unit, the driller... Continue Reading →
Brazilian shareholders of state-controlled Petroleo Brasileiro SA (PETR4.SA) are petitioning a Brazilian court to be paid on similar terms as those given to U.S. shareholders in a $2.95 billion settlement, a lawyer told Reuters on Thursday. Read more
An industry workgroup has issued new guidance that will help companies plan decommissioning more efficiently, Oil & Gas UK announced on Thursday. Oil & Gas UK, a representative organization for the UK offshore oil and gas industry, said that its subsidiary, Common Data Access (CDA), has worked with the Shell Brent Decommissioning Project and the... Continue Reading →
Maria Moræus Hanssen has started as the new chief executive officer of DEA Deutsche Erdoel AG, an oil and gas company based in Germany and owned by LetterOne. Following her appointment in September 2017, Maria Moræus Hanssen on Thursday, January 4 succeeded Thomas Rappuhn who spent eight years as DEA CEO. Read more
Offshore driller Diamond Offshore and Brazilian oil company Petrobras have settled a lawsuit related to an early rig contract termination back from 2016. In August 2016, Diamond Offshore Drilling received notice of termination from Petrobras of its drilling contract on the Ocean Valor semi-submersible drilling rig. The drilling contract was originally estimated to conclude in... Continue Reading →
Wilson Sons Ultratug Offshore has secured long term work for three of its vessels with the Brazilian oil giant Petrobras. The offshore shipping company is a joint venture (JV) between the Brazilian shipbuilding company, Wilson Sons and Chilean services provider Ultramar. Read more
Global oil exploration investments in 2018 are expected to be lower than in 2018, despite the rise in oil prices. Energy intelligence group Wood Mackenzie expects most oil companies will stay cautious and "well counts will remain stubbornly low.“ “Competition for the best opportunities will be fierce. However, the industry’s focus on reducing costs in... Continue Reading →
Rio de Janeiro, January 2, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that received today a fiscal notification by the Federal Revenue of Brazil, requiring payment of withholding income tax (IRRF), contribution of intervention in the economic domain (CIDE) and social contributions (PIS and COFINS) on remittances abroad for payment of vessel charters, regarding... Continue Reading →
Brazil’s state-controlled oil company, Petroleo Brasileiro SA (PETR4.SA), said Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors seeking to recoup money they claim to have lost as a result of a corruption scandal. Read more
Norwegian offshore shipping company Solstad Farstad has been awarded a charter contract in Argentina for one of its construction support vessels (CSVs). Solstad Farstad informed on Tuesday it has entered into a bareboat contract with Bahia Grande LN S.A for the CSV Normand Commander for operation in Argentina. Read more
Brazil Energy Insight 