The board of directors of Dommo Energia, formerly OGX, elected Celso Cordeiro de Mello to hold the position of chief operating officer of the company. In addition, the board elected Tatiana Gomide de Faria Tendler to the position of Administrative Director, accumulating the functions of Financial Director and Investor Relations. The company reported that Paulo... Continue Reading →

FPSO operator BW Offshore returned to profit during the third quarter of the year.  Namely, according to the company’s financial report on Friday, net profit for the 2017 quarter was $3.9 million compared to a loss of $11.2 in the third quarter of 2016. BW Offshore’s operating revenues for the quarter dropped to $152.7 million... Continue Reading →

The German chemicals company would hold a majority in the combined entity, with a view to a possible initial public offering “in the medium term,” BASF said in a statement after Bloomberg News reported that the two sides were in talks. Discussions between BASF’s Wintershall AG unit and Fridman’s Dea Deutsche Erdoel AG are advanced and the combined... Continue Reading →

Colombian oil company Ecopetrol expects to invest $3.5 to $4 billion in 2018, up 35% to 55% over the projected investment at year-end 2017. After two years of a transformation plan focused on cost reduction and capital discipline, the 2018 plan approved by the board of directors is aimed at increasing reserves and hydrocarbon production, capturing... Continue Reading →

Already in default and struggling with sinking oil production, Venezuela’s state-run energy firm told its employees to cut costs and expenses by 50 percent in an austerity drive to reflect the broader economic crisis hitting the OPEC nation of 30 million people. Read more

Brazil President Michel Temer on Wednesday struck a tentative deal with Lower House Speaker Rodrigo Maia to put the administration’s controversial pension bill to vote in early December, prompting local assets to rally. Read more

Six oil and gas majors ExxonMobil, Shell, Total, Eni, Statoil, Repsol, BP, and Wintershall have said they would commit further to reducing methane emissions from the natural gas assets they operate around the world. The energy companies also agreed to encourage others across the natural gas value chain – from production to the final consumer... Continue Reading →

Enseada Indústria Naval S.A. reports that the 6th Business Court of the Court of Justice of the State of Rio de Janeiro approved on November 14, the extrajudicial recovery plan filed by the company on January 27 of this year. As a result of this important event, the terms of the plan take effect and... Continue Reading →

  11/22/2017 The Brazilian Association of Petroleum Services Companies (ABESPetro), elected on Tuesday the 21st), by direct vote of its members, the new board of directors for the biennium 2018/2019. They were elected: Alejandro Duran (GE Oil & Gas), Claudio Makarovsky (Siemens), Gilberto Cardarelli (Brasco), José Mauro Ferreira (TechnipFMC), Rodrigo Ribeiro (Queiroz Galvão) and Telmo... Continue Reading →

  Published: Friday, November 17, 2017, 6:05 pm The director general of the ANP, Décio Oddone, attended this week meetings and events with investors in the United States to discuss the regulatory changes implemented in Brazil, present the results of the rounds conducted in 2017 and begin the announcement of the bidding rounds of blocks... Continue Reading →