08/18/2017 The acquisition of offshore inspection technology expanded Oil States 'technical capacity in this field of activity, adding value and reducing operational costs related to drilling risers' logistics. With the use of advanced non-destructive techniques, international certifications and state-of-the-art equipment for both inspection and data recording, Oil States is able to provide high resolution... Continue Reading →
Maersk Stands to Get Another $7.5 Billion for Energy Divestments
Now that its oil and gas unit has been sold, A.P. Moller-Maersk A/S is planning separate divestments for the three remaining bits of what used to be a combined energy division, with estimates valuing those businesses at $7.5 billion in total. The owner of the world’s biggest container shipping line said on Monday it agreed to sell its oil and... Continue Reading →
Petrojarl I FPSO finally ready for Brazil
Upgrade work on Teekay’s Petrojarl I FPSO destined to be redeployed in Brazil after having spent almost three decades in the North Sea area, has finally been completed. Damen Shipyard, which has been working on preparing the vessel for Brazil since the early 2015, on Friday said the work had been completed and the FPSO... Continue Reading →
Total Chases Growth With $5 Billion Purchase of Maersk Oil
Total SA agreed to buy the oil and gas unit of A.P. Moller-Maersk A/S, the French company’s biggest acquisition since 1999 and another sign of the accelerating pace of energy deals after a long downturn. Total will pay Maersk with $4.95 billion of its own shares and assume $2.5 billion of the Copenhagen-based company’s debt, according to... Continue Reading →
Exxon takes Noble drillship for Guyana ride
Offshore driller Noble Corp. has found work for its Noble Bob Douglas drillship in Guyana. The contract is with ExxonMobil in Guyana and is for a three-year period. Noble did not disclose the contract dayrate. The drillship, built in 2013 by Hyundai Heavy Industries, is expected to start working for Exxon in the first half of... Continue Reading →
Brazil Car Wash graft probe widens to include U.S., Greek firms
Brazilian authorities announced two new phases of their Car Wash operation on Friday, ensnaring U.S. asphalt maker Sargeant Marine, six Greek shipping companies and a former Brazilian congressman in the wide-ranging graft probe. "These operations leave a clear message: foreign firms will not be spared by Car Wash," Prosecutor Athayde Ribeiro Costa said in a... Continue Reading →
Seadrill takes action to insulate Seadrill Partners from restructuring
Indebted offshore driller Seadrill Limited has made changes to its credit facilities to insulate Seadrill Partners, a limited liability company formed by Seadrill Limited to own drilling rigs, from its restructuring. Seadrill Limited informed on Thursday it has completed amendments to three secured credit facilities that relate to rigs bought by Seadrill Partners from the company... Continue Reading →
U.S. Department of Justice closes Vantage Drilling bribery probe
Offshore drilling contractor Vantage Drilling International said on Wednesday an investigation into the company’s possible violations of the Foreign Corrupt Practices Act regarding alleged improper payment in Brazil had been completed. The company said it had received a letter from the United States Department of Justice acknowledging Vantage’s full cooperation in the DOJ’s investigation concerning... Continue Reading →
Maersk Oil lifts profit on higher oil price, lower costs
Danish oil company Maersk Oil increased its profit and revenues for the second quarter of 2017 helped by higher oil prices and lower costs. According to a financial report on Wednesday by Maersk Oil’s parent company, A.P. Moller – Maersk, Maersk Oil recorded an underlying profit of $184 million in the second quarter of 2017,... Continue Reading →
ANP extends date of public consultation of resolution that will define criteria for exemption of Local Content
The ANP decided to extend for 30 days (until September 18) the period of Public Consultation No. 20/2017, which aims to collect subsidies for the edition of the resolution that will govern the criteria applicable to requests for exemption from compliance with the Local Content obligation , Adjustment and transfer of surplus, in addition... Continue Reading →
Brazil Energy Insight 