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The Brazilian offshore drilling firm Constellation has been awarded three new contracts with Petrobras for its offshore drilling rigs. Constellation said Monday that Petrobras had hired its three ultra-deepwater semi-submersible drilling rigs Alpha Star, Gold Star, and Lone Star. The contracts are for two years each. All three rigs entered service in the 2010-2011 period.... Continue Reading →
U.S. commodities trader Bunge Ltd (BG.N) and British energy company BP Plc (BP.L) said on Monday they will merge their Brazilian sugar and ethanol operations to create the world’s third-largest sugarcane processor. The joint venture is the largest deal in Brazil’s bioenergy sector since Royal Dutch Shell (RDSa.L) joined forces with Cosan (CSAN3.SA) to form... Continue Reading →
Queiroz Galvão seeks a partner for their shipbuilding arm Constellation. There are preliminary talks with a Singapore based shipyard. In judicial recovery, the former Queiroz Galvão Oil and Gas carries a debt around R$ 1.8 billion and is in addition is negotiating a loan of R$ 100 million with their lending banks.
Halliburton on Monday reported a net income of $75 million for the quarter, compared to $511 million a year ago. Adjusted for impairments and other charges net income was $303 million. Halliburton recognized impairments and other charges during the second quarter of 2019 of $247 million, pre-tax. Of the $247 million, $108 million was for... Continue Reading →
McDermott International announced it has been awarded a contract by Argentina-based YPF to provide pre-front-end engineering design (Pre-FEED) services for a five million tons per annum (MTPA) LNG Liquefaction Facility, with a potential expansion to 10 MTPA, at the Vaca Muerta Shale field in Argentina. The scope of work is a continuation of a previous... Continue Reading →
July 19, 2019 Lorena Dominguez is the new Director of Operations (COO) of Repsol Sinopec Brasil. The Spanish executive will lead the teams responsible for Sapinhoá, Lapa, Albacora Leste, BM-C-33 and other company assets in the exploration phase in the country. Recently, Lorena was the leader of Repsol's team of geologists and geophysicists in the... Continue Reading →
Oilfield services provider Schlumberger recorded a 14 percent increase in its second quarter 2019 net profit while expecting oil market sentiments to remain balanced. Schlumberger has also revealed that its CEO will retire after eight years in the role and the company has already lined up a replacement. Schlumberger on Friday posted revenues of $8.27... Continue Reading →
Singapore’s offshore drilling rig and vessel construction company Keppel O&M has returned to profit in the first half of 2019. The order book is at 2016 high, with a large chunk of new orders coming from renewables and LNG sectors. Keppel has also employed more than 700 people in 2Q. According to Keppel Corporation’s results... Continue Reading →
July 19, 2019 Petróleo Brasileiro S.A. - Petrobras clarifies media reports related to the supply of fuel to two Iranian vessels. Petrobras did not provide fuel to the exporting company because the Iranian vessels it contracted and the Iranian company that owns those vessels are sanctioned by the United States and are listed in the... Continue Reading →
U.S. and Brazilian authorities are investigating whether Honeywell International Inc’s (HON.N) use of third parties in Brazil violated the U.S. Foreign Corrupt Practices Act, Honeywell said in a regulatory filing on Thursday. The probes by the U.S. Department of Justice, Securities and Exchange Commission and Brazilian authorities involve third parties hired by Honeywell’s UOP oil... Continue Reading →
Brazil Energy Insight 