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5/21/2019 SBM's hiring for the Mero 2 FPSO charter is already under review by the boards of Shell, Total, CNPC and CNOOC, Petrobras partners in the Santos Basin production sharing project. It is expected that the agreement between the Brazilian oil company and the FPSO operator will be signed in June. SBM presented the lowest... Continue Reading →
The offshore oil and gas industry is currently in a resurrection mode and is expected to keep growing, however, the annual growth rate in the global offshore oilfield services market will likely be halved after 2022, according to the energy intelligence group Rystad Energy. In a commentary on Thursday, Rystad said that the service market... Continue Reading →
Recent long-term offshore drilling contract awards might not fit with investors’ expectations, but it’s the expectations that are the problem, not the reality. Continue reading
Rio de Janeiro, May 21, 2019 - Petróleo Brasileiro S.A. – Petrobras informs that today it expressed interest to the National Council for Energy Policy (CNPE) to exercise the pre-emption right on the Transfer of Rights surplus bidding round under the production sharing regime, pursuant to Brazilian Law 12.351/2010 and Federal Decree 9.041/2017. The... Continue Reading →
Rio de Janeiro, May 21, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, at a meeting held yesterday, approved the nomination by the controlling shareholder of Mr. Nivio Ziviani to the position of member of the Company's Board of Directors . This nomination will be submitted to the deliberation of... Continue Reading →
Rio de Janeiro, May 21, 2019 – Petróleo Brasileiro S.A. - Petrobras informs that the Brazilian Securities and Exchange Commission (CVM) has approved the change of the custodian bank of its ADR programs for common and preferred shares, which will be the responsibility of Banco Bradesco S.A. The remaining characteristics of the ADR programs will... Continue Reading →
Rio de Janeiro, May 21, 2019 - Petróleo Brasileiro SA - Petrobras informs that its Board of Directors approved the execution of the Amendment to the Transfer of Rights Agreement pursuant to the National Council of Energy Policy, Resolution No. 5, of April 9, 2019. The amendment provides for the reimbursement of US$ 9.058 billion... Continue Reading →
Brazil’s President Jair Bolsonaro on Monday emphasized the importance of pension reform to Brazil’s economic progress, but a powerful lawmaker said the president’s failure to engage with Congress means the bill is still well short of the votes needed for it to pass. The comments to Reuters from Marcelo Ramos, chairman of the congressional committee... Continue Reading →
May 19, 2019 Locar V, owned by Locar, was partially shipwrecked on Saturday night, 18, while being towed from Itajaí (SC), bound for Espírito Santo, carrying two power generation modules from Petrobras' P-71 platform. The incident did not cause any casualties – the barge was being towed by TS Favorito, Tranship's tugboat. Petrobras confirms the... Continue Reading →
Restructuring debt, especially with local creditors, is focus after four years of Lava-Jato; much of the risk lies with local banks. 20/05/2019 The Odebrecht group faces the most difficult liquidity crisis since Operation Lava-Jato put it under the spotlight of anti-corruption actions in Brazil four years ago. The company needs a R$ 1 billion to... Continue Reading →
Brazil Energy Insight 