Those in the oil market fearing a flood of OPEC supply next year will probably be better off preparing for a shortage, according to Citigroup Inc. Five countries in the group -- Libya, Nigeria, Venezuela, Iran and Iraq -- may already be pumping at their maximum capacity this year, Ed Morse, the bank’s global head... Continue Reading →

Brazil’s oil auction this week will test whether a raft of market-friendly reforms under President Michel Temer can tempt investors back to a sector tarnished by a corruption scandal at state-controlled oil firm Petróleo Brasileiro SA. Brazil will auction 287 onshore and offshore exploration blocks on Wednesday, raking in at least 1.69 billion reais ($537... Continue Reading →

Oilfield-services company Rowan Cos. is in talks to acquire the drilling business of A.P. Moller-Maersk A/S, which is selling energy assets to focus on transportation, people familiar with the matter said. The drilling business assets could be valued at about $4 billion, although the valuation could change as the talks proceed, the people said, asking not to be... Continue Reading →

Economists expect Brazil’s inflation rate to end 2017 below the government’s target range for the first time ever, according to a central bank survey on Monday. Consumer prices, as measured by the benchmark IPCA index, are likely to rise 2.97 percent in 2017, according to the median of around a hundred forecasts, down from 3.08... Continue Reading →

The National Petroleum, Natural Gas and Biofuels Agency (ANP) has approved 32 companies for the Wednesday, September 27 bidding round. Among them, 18 are foreign and 8 still do not have a contract for exploration in Brazil. The winners will operate under a concession regime. List of approved companies: BP Energy do Brasil (United Kingdom)... Continue Reading →

French oil major Total has said it will “capture” 7 prospects operated by Chevron in in the deepwater Gulf of Mexico. The agreement covers 16 blocks. According to Total, the associated prospects are located in two promising plays and areas of the GoM: Wilcox in Central GoM next to the Anchor discovery, and Norphlet in... Continue Reading →

Ultra-deepwater drilling company Ocean Rig has informed that it has completed its debt restructuring. In a statement on Thursday, the company providing offshore drilling rigs to the international oil and gas industry, said that all the scheme conditions previously agreed with creditors and its rig-owning subsidiaries were satisfied, meaning that the company has now completed... Continue Reading →

ANP presents the publication of the booklet "Oil and Gas Opportunities in Brazil 2017 - 2019 Bidding Rounds" that provides information on the areas for exploration and production to be offered in the 14th, 15th and 16th Bidding Rounds in the concession regime and also the areas of the 2nd, 3rd, 4th and 5th Pre-Salt... Continue Reading →

Rio de Janeiro, September 21, 2017 - Petróleo Brasileiro S.A. – Petrobras, pursuant to the press release disclosed on June 23, 2017, informs that the extrajudicial mediation procedure with Sete Brasil Participações S.A. (“Sete Brasil”) – currently under Judicial Reorganization - has been initiated, for which the mediator chosen by the parties is Mr. Gustavo... Continue Reading →

Sept 19, 2017 Dommo Energia announces to its shareholders and market that, in an Extraordinary General Shareholders meeting on Sept 19, 2017, the change of  OGX Petroleo e Gas S.A. denomination was approved to Dommo Energia S.A. See attached DommoEnergia_eng