5/29/2019 In May, Petrobras completed ten years of production in the Santos Basin pre-salt, with indicators of efficiency and productivity above the average of the offshore industry. There are 16 platforms and more than 150 wells operating in that basin alone, which account for 90% of all Brazilian pre-salt production. Extraction costs below $ 7... Continue Reading →

5/29/2019 Petrobras launched a new tender for a Maintenance and Security Unit (MSU) with capacity to accommodate 170 people, on Monday . The contractual term is of three firm years, with start of operation in 2020. As in the last two bids, the process will be conducted under the reverse auction model (open dispute). The... Continue Reading →

05/28/2019 Petrobras is close to the sale of two offshore oil fields in a process that could reach about $ 1 billion and help Petrobras in its quest to reduce its debts. A deadline up to June 5 was set by the oil company to receive final offers for its oil fields in Pampo and... Continue Reading →

Jack-up drilling rig operator Borr Drilling is optimistic about what the future – or the present even – holds for its modern drilling rigs as the global jack-up rig fleet utilization continues improving. The company currently owns a fleet of 22 premium (delivered in 2001 and after) jack-up rigs, four standard jack-up rigs (built before... Continue Reading →

U.S. hedge fund JDP Capital Management said it and other minority unit-holders of Teekay Offshore Partners LP (NYSE: TOO) oppose Brookfield Asset Management‘s proposed acquisition of the midstream services provider. Brookfield’s private equity group, which owns 73 percent of the company, this month offered to buy the remaining interest for US$1.05 per unit. Continue reading

Exxon Mobil and Chevron’s unwillingness to venture beyond their core oil and gas business will face a test Wednesday when shareholders vote on climate change proposals at both oil companies’ annual meetings. The U.S. oil majors have typically enjoyed an easier ride from investors on environmental issues compared with their European rivals. But pressure is... Continue Reading →

Brazil’s economy likely shrank in the first quarter of this year for the first time since 2016, a Reuters poll of economists showed on Tuesday, with activity hit by delayed fiscal reforms, weak investment and rising unemployment. If confirmed, it will be the first contraction since a deep 2015-2016 recession from which the economy has... Continue Reading →

Amid mounting recovery concerns, Seadrill Ltd. plunged to their lowest since the embattled drilling company emerged from bankruptcy less than year ago, when Carnegie Investment Bank AB recommended selling their shares and slashed the price target by 88%. The offshore rig market recovery is “not happening fast enough” for Seadrill, Carnegie said in a note... Continue Reading →

— Rio de Janeiro, May 27, 2019 - Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, clarifies that it has not yet been summoned of the injunction issued by Supreme Court Judge Edson Fachin, determining the suspension of the competitive process for the sale of 90% of the company's... Continue Reading →