A total of 17 companies have registered to take part in two rounds of bidding for licenses to explore pre-salt oil areas in Brazil, Oil and Gas Secretary Marcio Felix said on Thursday. The auctions next month include some of the most promising oil blocks in the world. Pre-salt oil, referring to reserves found beneath... Continue Reading →

Indebted offshore driller Seadrill Limited has entered into a restructuring agreement with the majority of its lenders which will see over $1 billion of new capital injected into the company. The driller informed on Wednesday the agreement was backed by more than 97 percent of its secured bank lenders, approximately 40 percent of its bondholders and... Continue Reading →

Brazil’s government aims to release a privatization model for the country’s largest state-owned electric utility, Centrais Eletricas Brasileiras SA, this month, the mining and energy minister said on Tuesday. Read more

A merger between two UK oilfield services companies, Wood Group and Amec Foster Wheeler, is set to be complete next month as the UK’s competition watchdog, the Competition and Markets Authority (CMA), has accepted the duo’s proposals to resolve competition concerns regarding the merger.  The CMA began investigating the merger of the two companies in June 2017.... Continue Reading →

Rio de Janeiro, September 6, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that it received on 9/4/2017, Official Letter No. 304/2017/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No. 304/2017/CVM/SEP/GEA-1 “Dear Sir, We refer to Official Letter no. 290/2017/CVM/SEP/GEA-1 and the communication to the market, filed via Empresas.net System, on 8/21/2017, in response to... Continue Reading →

Rio de Janeiro, September 08, 2017 - Petróleo Brasileiro S.A. – Petrobras, in continuity to the Material Fact disclosed on 7/28/2017, informs that deadline for signing the Confidentiality Agreement, in order to have access to technical, legal and financial information regarding the full sale of its exploration, development and production rights in seven sets of... Continue Reading →

Brazil's central bank has been unrelenting in its interest-rate cuts. It's too soon to ease up. With inflation tumbling, the economy still struggling and the country's political class mired in one graft accusation after another, Central Bank of Brazil Governor Ilan Goldfajn looks like the adult in the room. It's a mantle he may not... Continue Reading →

The world’s largest oilfield services company, Schlumberger NV (SLB.N), is spending billions of dollars buying stakes in its customers’ oil and gas projects - investing in the same ventures it supplies with equipment and expertise. The new business model gives Schlumberger a say in drilling decisions, oilfield management and even on hiring other Schlumberger units... Continue Reading →