Oil shouldn’t be written off too early, despite the expected sharp rise in gas and renewables over the next 25 years. This is according to the International Energy Agency which forecasts that over the next 25 years, the growing energy needs will be met by renewables and gas first. In its World Energy Outlook 2017,... Continue Reading →
Venezuela’s Bondholder Meeting Is a Bust as S&P Declares Default/PDVSA
Venezuela’s grand gathering with creditors Monday lasted all of 30 minutes and didn’t produce anything of substance. To make matters worse, S&P Global Ratings declared the country in default while Fitch Ratings cited missed payments by the state oil company. Read more
Keppel to start working on Exxon’s Liza FPSO by year-end
Singapore’s Keppel Shipyard is expecting the arrival of a very large crude carrier (VLCC), which will be converted into a floating production storage and offloading (FPSO) unit for SBM Offshore, this month. The FPSO unit will be used to develop the ExxonMobil-operated giant Liza field offshore Guyana. Read more
Petrobras achieves top grade in Governance Indicator
Rio de Janeiro, November 10, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that it has achieved top grade in the Governance Indicator ("IG-SEST") prepared by the Secretariat of Coordination and Governance of State-Owned Enterprises - SEST, under the Ministry of Planning, Development and Management - MPDG, with the results gathered in its 1st Assessment... Continue Reading →
Shell defends competitiveness as a model
Chaired by the president of the Chamber of Deputies, Rodrigo Maia, the discussion about the end of the production sharing model, the president of Shell in Brazil, André Araújo, argued that the offer of geologically attractive areas and fiscal conditions are the main pillars for an attractive regulatory framework for oil companies. Araújo spoke exclusively... Continue Reading →
CNPE approves local content for the 4th Round of Bids in the Pre-Salt and the 15th Round of Concessions
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 →
