For ground blocks the minimum percentage of mandatory local local content shall be 50% for the exploration phase and 50% for the development stage. For blocks in the sea, the minimum percentage of global mandatory local content will be 18% for the exploration phase. For the macro-groups of the development stage the percentages will be:... Continue Reading →
ENSEADA DELIVERS HULLS OF FOUR PLATFORMS AND WILL FOCUS ON THE FPSO MARKET
November 10, 2017 By Davi de Souza (davi@petronoticias.com.br) – With an investment of R $ 3 billion over the last few years, the Enseada shipyard already looks at its strategic planning to take important new steps. The company recently delivered the P-74, P-75, P-76 and P-77 hulls, which are now being completed at its integrating... Continue Reading →
Bassoe: Zombie offshore rigs don’t threaten rig supply
Some of them are walking dead, but old rigs aren’t coming back to get us. One of the hottest issues in the offshore rig market is rig competitiveness. You see it in investor presentations as a key point to support companies with fleets of newer rigs, and most rig utilization tables filter out to some... Continue Reading →
Total buys Engie’s upstream LNG business for $1.5 billion
French oil major Total has signed a deal with its compatriot Engie to buy Engie’s of upstream liquefied natural gas (LNG) business for $1.49 billion. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron LNG project in the US, long term LNG sales and purchase agreements, an LNG tanker fleet as... Continue Reading →
As Oil Prices Rise, Global Majors Eyeing Mexico’s Deep Waters
The who’s who of the oil world -- led by Exxon Mobil Corp and Royal Dutch Shell Plc, the world’s two biggest drillers by market value -- are lining up to bid in the country’s Jan. 31 deep-water auction. And the interest is international in scope, drawing Chevron Corp. from the U.S., the U.K.’s BP Plc, Norway’s Statoil ASA,... Continue Reading →
Former Oil Service CEO Pleads Guilty in Petrobras Scandal
A former CEO of oil-services company SBM Offshore NV pleaded guilty Thursday to charges related to the Petrobras corruption scandal in Brazil as the U.S. steps up its pursuit of individuals over corporate misdeeds. The former executive, Anthony Mace, appeared Thursday in federal court in Houston, where he admitted to conspiring to violate the U.S. Foreign Corrupt... Continue Reading →
Exclusive: Venezuela’s PDVSA misses debt payments to India’s top oil producer
Venezuelan state oil-firm PDVSA has not made debt payments to India’s top oil producer ONGC (ONGC.NS) for six months, and has previously used a Russian state-owned bank and another Indian energy company as intermediaries to make payments, two sources familiar with the transactions said on Wednesday. Read more
The Dollar Is Now More Correlated With Oil Than Some Petrocurrencies
As the petrocurrencies of the world break their historic link with oil, the greenback is building a relationship with the commodity that it isn’t supposed to have. Crude oil’s more than 9 percent surge since Oct. 25 has been mirrored by a 1.3 percent advance in the dollar against major world currencies, widening the pair’s 90-day correlation... Continue Reading →
Subsea 7 profit dips. CEO sees gradual recovery in tendering activity
Offshore installation and construction company Subsea 7 has reported a rise in the third quarter revenue, but a drop in profit. The company’s revenue for the quarter ended September 30, 2017, was $1,06 billion, up from $928 million a year ago. Net income came in at $111 million, down from last year’s third quarter $149 million.... Continue Reading →
U.S. to export large ethanol volume to Brazil despite tax
The United States will export a large volume of ethanol to Brazil in 2018 despite the 20 percent import tax implemented by the Brazilian government this year, analyst Platts Kingsman said on Wednesday. Platts estimates the United States will ship around 1.7 billion liters of ethanol to Brazil in 2018, compared to a projected 1.8... Continue Reading →
Brazil Energy Insight 