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ExxonMobil in second oil discovery offshore Guyana | Offshore Energy Today Stena Carron drillship used for drilling of the Liza-2, Liza-3, Skipjack and Payara-1 wells; Image source: HessExxonMobil on Thursday reported positive results from its Payara-1 well offshore Guyana. Payara is ExxonMobil’s second oil discovery on the Stabroek Block and was drilled in a new reservoir.... Continue Reading →
Brazilian prosecutors on Thursday filed corruption charges against Decal do Brasil co-founder Mariano Marcondes Ferraz accusing him of bribing a former executive at state-run oil company Petrobras to win contracts for Ferraz's own firm. Federal prosecutors allege that Ferraz paid $868,450 to Petrobras' ex-director of refining and supply, Paulo Roberto Costa, to renew at inflated... Continue Reading →
The bond sale by Brazilian oil giant Petrobras this week may just be the start of an issuance boom from the South American country. Sugar producer Raizen Energia SA has hired banks to gauge interest for a possible overseas debt offering, while chemicals maker Braskem SA said it’s considering a sale of its own.... Continue Reading →
Petróleo Brasileiro SA expects to spend 30 percent more in exploration, production and refining projects this year, signaling that efforts to cut debt and preserve cash are helping Brazil's state-controlled oil company regain investment capacity. Chief Executive Officer Pedro Parente told reporters at an event in Rio de Janeiro that capital spending at Petrobras (PETR4.SA)... Continue Reading →
See attached presentation - General Overview Dec. 2016 general-overview-petrobras-2016-december-1
Chevron hires two anchor handlers in Brazil | Offshore Energy Today Oil company Chevron has hired two offshore support vessels from Brazil’s Bram Offshore. The two vessels, the Campos Contender and Elizabeth C, are both large 11.040 BHP anchor handling tug supply units. The vessel owner is a Brazilian subsidiary of Edison Chouest, a U.S. based... Continue Reading →
Brazil surprised markets with a larger-than-expected interest rate cut on Wednesday, stepping up its monetary easing to revive an economy mired in its worst recession ever. In a unanimous vote, the central bank's nine-member monetary policy committee, known as Copom, decided to cut its benchmark Selic rate BRCBMP=ECI by 75 basis points to 13.00 percent... Continue Reading →
Argentina has clinched a deal with labor unions and energy companies aimed at luring investors to the Vaca Muerta formation in Patagonia, one of the largest shale reserves in the world, the government said on Tuesday. Read more
Jan 11 Brazil's central bank will likely step up its pace of interest rate cuts on Wednesday as policymakers scramble to rescue the country's once-vibrant economy from the worst recession on record as it threatens to stretch into a third year. Fifty out of 54 analysts polled by Reuters expect the central bank to cut... Continue Reading →
Big Oil is poised to reap rewards this year as investments made before the crude-price slump pay off just as the recovery starts. Seven of the world’s largest energy companies will together boost oil and natural gas output by 398,000 barrels a day, the most since since 2010, according to data from Oslo-based consultant Rystad... Continue Reading →
Brazil Energy Insight 