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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 →
The oil industry will shake off the effects of the biggest downturn in a generation this year as they more than double project approvals and increase exploration spending for the first time in three years, according to Wood Mackenzie Ltd. Companies will green-light more than 20 oil and gas fields for development compared with nine... Continue Reading →
The amount of oil discovered last year was the lowest since the 1950s as explorers slashed spending amid the worst downturn in a generation, according to Wood Mackenzie. The good news: It can probably only get better from here. Oil companies found only 3.7 billion barrels of so-called conventional crude in 2016, 14 percent less... Continue Reading →
Dril-Quip buys offshore equipment provider OPT for $20M Dril-Quip has acquired offshore equipment provider OilPatch Technologies (OPT) for approximately $20 million. Based in Houston, OPT provides offshore riser systems and components, proprietary threaded connections and other products, with a focus on deepwater Spar and TLP Systems. Blake DeBerry, President and Chief Executive Officer of Dril-Quip, stated, “We... Continue Reading →
Despite the sharp drop in investment and Gross Domestic Product (GDP) in the last two years, an indicator of the Brazilian economy remained surprisingly strong. Direct Investment in the Country totaled US $ 75 billion in 2015 and accumulated, in the 12 months ended November 2016, US $ 78.8 billion, according to data from... Continue Reading →
The construction giant, which agreed to pay as much as $4.5 billion to settle international bribery charges, finds it is banned from bidding on public works projects in a growing number of countries. See attached article bribery-case-haunts-odebrecht-despite-massive-settlement
