Brought to you by Quest Offshore & Southern Cone Consultants
Dilma Rousseff’s supporters are almost cheerful, missing no opportunity to proclaim that the political crisis that shook Brazil in 2015 and led to impeachment proceedings against the president has lost momentum. In private, they are worried. Their main concern is that an almost two-year probe into a scheme of kickbacks in return for political favors... Continue Reading →
Devon Energy Corp. became the latest oil and gas producer to cut everything from its dividend to jobs to spending as it tries to weather the worst price slump in a generation. The shale driller is reducing its workforce by 20 percent in the first quarter, while slashing its quarterly dividend to 6 cents a share... Continue Reading →
Investment In Açu Authorized Brasil Port, a company belonging to the Edison Chouest Group, to invest US$ 150 million in base [16.02.2016] / By João Montenegro/Brasil Energy The Minister of the Secretariat of Ports of the Presidency of the Republic, Helder Barbalho, and the Governor of the State of Rio de Janeiro, Luiz Fernando Pezão,... Continue Reading →
Suppliers’ Business Merger Vallourec Tubos and VSB to merge activities in Brazil due to the unfavorable economic situation. The first has 26 contracts with Petrobras with assets totaling around US$ 4 B [16.02.2016] By Lara de Faria/Brasil Energy Vallourec Tubos do Brazil (VBR) announced today (February 16) the merger of their business with VSB, which... Continue Reading →
Feb 16, 2016 Reuters Shell's company logo is pictured at a gas station in Zurich in this April 8, 2015 file photo. REUTERS/ARND WIEGMANN/FILES Brazilian oil and gas company Petro Rio SA PRIO3.SA said on Tuesday that Royal Dutch Shell (RDSa.L) had canceled an agreement to sell offshore assets in the Campos Basin for an... Continue Reading →
Saudi Arabian Oil Minister Ali Al-Naimi said the output freeze agreed with Russia and two other countries on Tuesday might be followed be more action to improve the oil market. “The reason we agreed to a potential freeze of production is simply the beginning of a process to to asses in the next few months... Continue Reading →
Paragon Offshore Plc, the oil services company spun off just as crude began its plunge, filed for bankruptcy protection after announcing deals to reorganize its debt and avoid protracted legal battles involving its former parent, Noble Corp. Houston-based Paragon is the latest casualty of an oil market that has fallen more than 70 percent since June 2014, just... Continue Reading →
Sete Brasil Participacoes SA’s creditors, including Banco do Brasil SA and Itau Unibanco Holding SA, received 2.68 billion reais ($670 million) from a government-backed fund and will likely tap about 1.58 billion reais more, according to a person familiar with the matter. Creditors withdrew the money from the fund created with government assets in 2008 after... Continue Reading →
Europe's largest oil company, expects to make robust investments in Brazil's offshore, hoping to quadruple oil and gas output there by the end of the decade, its chief executive officer said on Monday. CEO Ben Van Beurden spoke in Brazil shortly after Shell's $52 billion takeover of rival BG Group Plc BG.L, approved in late... Continue Reading →
Shell Surpasses Chevron to Become No. 2 Oil Company: Chart Rakteem Katakey February 15, 2016 \ Bloomberg Royal Dutch Shell Plc has surpassed Chevron Corp. as the world’s second-biggest non-state oil company after completing the acquisition of BG Group Plc. The purchase raises Shell’s market capitalization to $177 billion and adds new assets in Australia and... Continue Reading →
