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“Fit at 50”, “life begins at 70” and “the swinging 60s” were all slogans chosen to reflect oil price market sentiment in 2017, 2018 and 2019, respectively. This year, at the Society of Underwater Technology’s (SUT) annual Global Subsea Market Outlook Business Breakfast, it was “the energy transition, stupid”. In fact, while Mike Beveridge, managing... Continue Reading →
Competition authorities in the UK have found that blocking a merger between offshore accommodation specialists Prosafe and Floatel may be the only way to mitigate concerns related to lessening of competition and fears that customers may face higher prices as a result of the merger. Prosafe and Floatel announced their plan to merge in June last... Continue Reading →
29 January 2020 Petróleo Brasileiro S.A. – Petrobras, further to the press release dated September 19, 2018, announces that the District Court of Rotterdam (the Court) today considered some issues and asked additional questions to the parties regarding the collective action filed by Stichting Petrobras Compensation Foundation (the Foundation) in the Netherlands against Petrobras and... Continue Reading →
Facing economic collapse and painful sanctions, the socialist government of Venezuelan President Nicolas Maduro has proposed giving majority shares and control of its oil industry to big international corporations, a move that would forsake decades of state monopoly. Maduro’s representatives have held talks with Russia’s Rosneft PJSC, Repsol SA of Spain and Italy’s Eni SpA.... Continue Reading →
Jan 28, 2020 For the first time, an FPSO installed in the Lula field was the one that produced the most in the country The FPSO P-69 extracted 183,767 thousand boed in November 2019, occupying, for the first time, the top of the list of FPSOs with the highest production in the country, according to... Continue Reading →
As a valued Brazil Energy Insight reader, we want to extend a 10% discount at registration for Global Offshore Brazil Summit 2020 being held 3 - 4 March at the Grand Hyatt Rio Hotel. Be sure to use the following discount code when registering to attend to obtain the 10% discount. Discount Code: GB20BEI10 Visit... Continue Reading →
Tokyo, January 16, 2020 MODEC, Inc. (“MODEC”) is pleased to announce that MODEC has signed the United Nations Global Compact (“UNGC”) advocated by the United Nations consisting of ten principles on human rights, labour, environment and anti-corruption, and joined the Global Compact Network Japan, a local network in Japan. Continue reading
The United States’ change of stance to support Brazil’s bid to join the Organization for Economic Cooperation and Development (OECD) ahead of Argentina was welcomed by the Brazilian government on Tuesday. The U.S. government’s plans, after having previously said they wanted Argentina to be next in line to join the rich nations’ club, are a... Continue Reading →
Assets of the French offshore vessel owned Bourbon have been sold to SPP, a company owned by a group of French banks, following a court decision announced in December. The Marseilles Commercial Court on December 23 ruled the assets of Bourbon would be sold to Société Phocéenne de Participations (SPP), a company owned by the... Continue Reading →
The Brazilian government is studying a mechanism that would cushion the potential impact of spikes in international oil prices on local fuel prices, energy minister Bento Albuquerque said on Thursday. The recent surge in oil prices, following events in Iraq, caused Brazil’s President Jair Bolsonaro to call a meeting this week with Petrobras and energy... Continue Reading →
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