Rio de Janeiro, May 17, 2019 - Petróleo Brasileiro S.A. - Petrobras, following up on the Press Release of March 8, 2019, hereby informs that today the United States District Court for the Southern District of Texas denied Petrobras’s motion to vacate and recognized the arbitral award rendered in the arbitration filed by Vantage Deepwater... Continue Reading →

5/17/2019 The ANP approved, on Thursday (16/5), a change in the announcement of the permanent offer regime excluding 16 blocks in the Amazon Basin. The agency is awaiting FUNAI's opinion on the areas, due to its proximity to indigenous lands. With the change, the tender offer now has 600 blocks and 14 areas with marginal... Continue Reading →

The rapid acceleration of the Brazilian real’s slide against the dollar this week has put traders on high alert for intervention from the central bank to stop the rot, although so far there is no sign the central bank has shown its hand. With messy politics slowing the government’s fiscal reform agenda in Congress, the... Continue Reading →

May 16 (Reuters) – The marine industry’s January 2020 shift to using very low sulfur fuel oil (VLSFO) to power ships worldwide will launch a one- to five-year disruption in oil and refined products markets, according to a study released Thursday by Boston Consulting Group. The International Maritime Organization (IMO)’s mandated switch will require fuels... Continue Reading →

5/17/2019 PetroRio is eyeing the 30% share of Petrobras in the Frade field, in the Campos Basin. "We are interested and we believe that the acquisition makes sense for both sides. But as the sale still depends on the internal stages of Petrobras, we can not confirm anything at the moment, "the company's director of... Continue Reading →

5/16/2019 PetroRecôncavo is negotiating a supply of natural gas to Potigás, the energy distributor in Rio Grande do Norte. The input would come from the fields acquired by the company in the Potiguar Basin last month, in a transaction of R $ 1.5 billion closed with Petrobras. As the acquisition of the 34 assets was... Continue Reading →

May 17, 2019 The ANP board approved a new resolution that amends the procedures for sale of oil and natural gas fields and, from the agency's perspective, will encourage the entry of new operators in mature fields, with the production in decline. The theme had been discussed since last year. With the new resolution, companies... Continue Reading →

5/16/2019 The year 2019 has been relatively busy for the subsea segment in Brazil, with large contracts and tenders taking place. In less than six months, two large contracts - possibly surpassing the $ 4 billion mark - were formalized. In February, TechnipFMC entered into a contract with the Libra Consortium to conduct the underwater... Continue Reading →

Offshore driller EnscoRowan has won $180 million in damages in arbitration proceedings against Samsung Heavy Industry stemming from a 2016 drillship case. EnscoRowan on Thursday said: “EnscoRowan today announced that an arbitration tribunal has awarded the Company $180 million in damages in its proceedings against Samsung Heavy Industries, a shipyard in South Korea (“SHI”). Further,... Continue Reading →