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
Temer Agrees on Brazil Pension Vote With House Chief
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
Eight oil and gas majors commit to cut methane emissions
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 shipyard completes its debt restructuring process
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 →
Claudio Makarovsky is the new President of ABESPetro
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 →
Director-General of ANP presents next rounds to US investors
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 →
Siem Offshore seeks debt relief from banks, in talks to sell cable lay business
Norwegian shipping company Siem Offshore is seeking help from banks to ensure its survival through the downturn. The shipowner is also looking to sell its cable lay business. In preparation for an extended downturn in the offshore supply market, Siem Offshore Inc. has issued a request to its banks for installment relief and certain other... Continue Reading →
Norway Oil Bosses Insist End Isn’t Nigh After $35 Billion Shock
Can Norway dump $35 billion in oil and gas investments, and simultaneously convince that same industry to throw money into the country’s own fossil-fuel future? After the initial shock of learning that Norway’s $1 trillion wealth fund wants nothing to do with it, the petroleum industry says both are in fact possible. Read more
ONIP’s Program ” Virtuoso Circuit” for the Oil and Gas Industry in Brazil is launched at Firjan
Based on the positive result of the last oil and natural gas bidding rounds, the Ministry of Mines and Energy (MME) launched ,in partnership with the National Organization of the Petroleum Industry (Onip) and the Federation of Industries of the State of Rio de Janeiro (Firjan), the Virtuoso Circuit program for the Oil and Gas... Continue Reading →
Brazil to cut $12 billion fine for construction firm Andrade Gutierrez
The Brazilian government has backed off a previous plan to fine construction and engineering conglomerate Andrade Gutierrez SA 40 billion reais ($12 billion) for its participation in a graft scheme, a national newspaper reported on Thursday. Read more
