August 15, 2017 Shell is expected to start operating the Lena Knutsen vessel in Brazil in September. The contract of the vessel lasts for five years, with the option of extending the agreement for another two periods of five years. The naval assets belong to the British company KNOT Offshore Partners. The Norwegian-flagged vessel was... Continue Reading →

 Mexico's attorney general's office has called a close former aide of President Enrique Pena Nieto to respond to accusations he was involved in Brazilian builder Odebrecht's corruption scandal, a lawyer for the aide said. Brazil's O Globo newspaper reported this weekend on documents alleging that Emilio Lozoya, who also formerly headed state oil company Pemex,... Continue Reading →

Brazil's government loosened its budget targets for all years through 2020 on Tuesday, delaying prospects for a drop in the federal deficit after legislators repeatedly refused to raise taxes in the recession-hit economy. Cost-cutting measures were announced along with the new targets, in a bid to demonstrate President Michel Temer's commitment to fiscal discipline even... Continue Reading →

Transocean Ltd. agreed to buy Songa Offshore SE in the biggest offshore drilling industry deal since oil prices collapsed three years ago. The enterprise value is about $3.4 billion, half of which is Songa debt assumed by the combined entity, the companies said. The 47.5 kroner ($5.96) a share offer implies an equity value for Norway’s Songa of... Continue Reading →

  The main beneficiary will be the Campos Basin, which had 80% of Brazil's total oil production, but today accounts for only 50%   The National Petroleum Agency (ANP) is concerned about the drop in oil production - about 30 percent - in the oldest post-salt fields that are facing the natural decline. To stimulate... Continue Reading →

Aug 14, 2017 Prumo Logística, a company that develops and operates Açu Port, and its subsidiary Gás Natural Açu (GNA), have signed a contract with Siemens for the development, implementation and operation of the UTE GNA I, Regasification Terminal of Açu, and other potential projects in the Açu Port Industrial Complex. Siemens will acquire, for... Continue Reading →

Former Petroleos Mexicanos Chief Executive Officer Emilio Lozoya denied media reports that he received $10 million in an alleged bribery scheme involving Brazilian construction company Odebrecht SA in Mexico. “I have never participated in acts of corruption. These publications have lied repeatedly on this and other issues, and have never proven their allegations,” Lozoya said... Continue Reading →

Brazilian company GranInvestimentos and Dutch company Royal IHC are joining forces to deliver integrated life cycle solutions to customers in the oil and gas sector. Through this partnership, both companies are set to increase their operational and service activities, and expand their presence in Latin America, Royal IHC said in a statement on Thursday. The association... Continue Reading →